Report January 2009

This issue of the Report opens with Senior Scholar L. Randall Wray’s new Public Policy Brief on money market capitalism (financialization), which has resulted in a series of boom-and-bust cycles in equities, real estate, and, most recently, commodities. Wray maintains that policymakers must fundamentally change the structure of our economic system in order to break this damaging cycle and reduce the influence of managed money.

NEW PUBLIC POLICY BRIEF

• The Commodities Market Bubble: Money Manager Capitalism and the Financialization of Commodities

NEW POLICY NOTES

• A Simple Proposal to Resolve the Disruption of Counterparty Risk in Short-Term Credit Markets
• Will the Paulson Bailout Produce the Basis for Another Minsky Moment?
• Time to Bail Out: Alternatives to the Bush-Paulson Plan

NEW WORKING PAPERS

• Macroeconomics Meets Hyman P. Minsky: The Financial Theory of Investment
• Inflation Targeting in Brazil
• Promoting Equality Through an Employment of Last Resort Policy
• Do the Innovations in a Monetary VAR Have Finite Variances?
• Minsky and Economic Policy: “Keynesianism” All Over Again?
• On Democratizing Financial Turmoil: A Minskyan Analysis of the Subprime Crisis
• Excess Capital and Liquidity Management
• An Empirical Analysis of Gender Bias in Education Spending in Paraguay

LEVY INSTITUTE NEWS

• Conference: Economists for Peace and Security
• Upcoming Event: The 18th Annual Hyman P. Minsky Conference

PUBLICATIONS AND PRESENTATIONS

• Publications and Presentations by Levy Institute Scholars
• Recent Levy Institute Publications