Summary Winter 2019

This issue of the Summary features a strategic analysis for Greece, analyzing the sources of the current turnaround in growth and the prospects for increasing the pace of the recovery. A public policy brief in the Distribution of Income and Wealth program updates the Levy Institute Measure of Economic Well-Being (LIMEW) through 2013 to provide a comprehensive assessment of household living standards in the United States, while a research project in the same program applies the Levy Institute Measure of Time and Consumption Poverty (LIMTCP) to Ghana and Tanzania to highlight the role of time constraints in an attempt to meaningfully inform poverty reduction strategies.
 
Working papers included in this issue consider the transition processes in the countries of the former Soviet Union; reflect on Germany’s dominant role in the European Union and its implications for the stability of the eurozone as a whole; explore what the euro’s German roots mean for the future of the European Monetary Union; investigate the drivers of long-term bond yields in Australia; assess the quality of statistical matches and enumerate the data sources for the LIMEW update; and examine employment trends since the Great Recession, with a focus on the narrowing of the employment–population ratio gap between black and white workers.
 
INSTITUTE RESEARCH
Program: The State of the US and World Economies

• DIMITRI B. PAPADIMITRIOU, MICHALIS NIKIFOROS, and GENNARO ZEZZA, Can Greece Grow Faster? 
• LIUDMILA MALYSHAVA, External Instability in Transition: Applying Minsky’s Theory of Financial Fragility to International Markets

 
Program: Monetary Policy and Financial Structure

• IGNACIO RAMIREZ CISNEROS, German Economic Dominance within the Eurozone and Minsky’s Proposal for a Shared Burden between the Hegemon and Core Economic Powers 
• JÖRG BIBOW, Twenty Years of the German Euro Are More than Enough 
• TANWEER AKRAM and ANUPAM DAS, Australian Government Bonds’ Nominal Yields: An Empirical Analysis

 
Program: The Distribution of Income and Wealth

• AJIT ZACHARIAS, THOMAS MASTERSON, and FERNANDO RIOS-AVILA, Stagnating Economic Well-Being and Unrelenting Inequality: Post-2000 Trends in the United States 
• AJIT ZACHARIAS, THOMAS MASTERSON, FERNANDO RIOS-AVILA, KIJONG KIM, and TAMAR KHITARISHVILI, The Measurement of Time and Consumption Poverty in Ghana and Tanzania: The Levy Institute Measure of Time and Consumption Poverty 
• FERNANDO RIOS-AVILA, Quality of Match for Statistical Matches Using the American Time Use Survey 2013, the Survey of Consumer Finances 2013, and the Annual Social and Economic Supplement 2014 
• AJIT ZACHARIAS, THOMAS MASTERSON, and FERNANDO RIOS-AVILA, The Sources and Methods Used in the Creation of the Levy Institute Measure of Economic Well-Being for the United States, 1959–2013

 
Program: Employment Policy and Labor Markets

• THOMAS MASTERSON, Black Employment Trends since the Great Recession

 
 INSTITUTE NEWS

• Levy Institute at Bard College Berlin
• Upcoming Events
• Minsky Summer Seminar
• Minsky Conference