Report January 2011

The January Report highlights a new policy brief by Senior Scholar Jan Kregel that offers an alternative view of global imbalances and international reserve currencies. Kregel finds that export-led growth and free capital flows are the real causes of sustained international imbalances. The only way out of this predicament is to shift to domestic demand–led development strategies—and capital flows will have to be part of the solution. In a series of working papers, members of the Asian Development Bank examine technological change in India’s manufacturing sector, the role of trade facilitation and the impact of natural resource abundance in Central Asia, and the key to China’s continuing “economic miracle.”

NEW PUBLIC POLICY BRIEFS

• An Alternative Perspective on Global Imbalances and International Reserve Currencies
• What Should Banks Do? A Minskyan Analysis

NEW POLICY NOTES

• Why the IMF Meetings Failed, and the Coming Capital Controls
• A New “Teachable” Moment

NEW WORKING PAPERS

• Quality of Match for Statistical Matches Used in the 1999 and 2005 LIMEW Estimates for Canada
• Product Complexity and Economic Development
• How to Sustain the Chinese Economic Miracle? The Risk of Unraveling the Global Rebalancing
• Quality of Match for Statistical Matches Used in the 1992 and 2007 LIMEW Estimates for the United States
• Asia and the Global Crisis: Recovery Prospects and the Future
• Measuring Poverty Using Both Income and Wealth: An Empirical Comparison of Multidimensional Approaches Using Data for the US and Spain
• Gendered Aspects of Globalization
• Innocent Frauds Meet Goodhart’s Law in Monetary Policy
• The Meltdown of the Global Economy: A Keynes-Minsky Episode?
• A Reassessment of the Use of Unit Labor Costs as a Tool for Competitiveness and Policy Analyses in India
• A Post Keynesian Perspective on the Rise of Central Bank Independence: A Dubious Success Story in Monetary Economics
• Technical Change in India’s Organized Manufacturing Sector
• The Transition from Industrial Capitalism to a Financialized Bubble Economy
• The Role of Trade Facilitation in Central Asia: A Gravity Model
• The Impact of Geography and Natural Resource Abundance on Growth in Central Asia
• Managing Finance in Emerging Economies: The Case of India
• Exploring the Philippine Economic Landscape and Structural Change Using the Input-Output Framework
• The Household Sector Financial Balance, Financing Gap, Financial Markets, and Economic Cycles in the US Economy: A Structural VAR Analysis
• Immigrant Parents’ Attributes versus Discrimination: New Evidence in the Debate about the Creation of Second Generation Educational Outcomes in Israel
• How Brazil Can Defend Against Financialization and Keep Its Economic Surplus for Itself

INSTITUTE NEWS

• New Research Associates
• Upcoming Event: 20th Annual Hyman P. Minsky Conference, April 13–15, 2011
• Upcoming Event: The Hyman P. Minsky Summer Seminar, June 18–26, 2011
• New Levy Institute Book: The Elgar Companion to Hyman Minsky

PUBLICATIONS AND PRESENTATIONS

• Publications and Presentations by Levy Institute Scholars