Levy Economics Institute Newsletter
Levy Economics Institute of Bard College
June 21, 2016
Event
Minsky Summer Seminar 2016
June 10–18, 2016
Hyman P. Minsky Summer Seminar
Levy Economics Institute of Bard College
Annandale-on-Hudson, N.Y.

Sixty-one students from 25 countries attended the Institute ’s seventh annual Summer Seminar—our largest enrollment to date. Lectures and panels covered Minsky’s approach to financial macroeconomics, his financial instability theory and views on financial reregulation, money manager capitalism, central bank policy, guaranteed employment, shadow banking, the sovereign debt crisis, and stock-flow consistent modeling.
New Publication
Jörg Bibow
Working Paper No. 868, June 2016
From Antigrowth Bias to Quantitative Easing: The ECB’s Belated Conversion?

Research Associate Jörg Bibow presents his latest analysis of the European Central Bank’s (ECB) monetary policies, in which he finds an antigrowth bias. He notes that the ECB is quick to hike rates, but slow to ease. In addition, the bank has a history of doing “too little, too late,” notably in its approach to the euro crisis, countering stagnation, and addressing the threat of deflation. Wage repression remains its primary strategy—a strategy that undermines price stability. The ECB, Bibow concludes, lacks a “Euro Treasury” partner and, until it creates such an institution, will remain hobbled by this fundamental flaw.

» Read complete text (pdf)
Media and Web Coverage

Research Associate Pavlina R. Tcherneva argues against a universal basic income policy and in favor of a job guarantee in this interview with Bloomberg’s Joe Weisenthal. Click here.

Research Associate Marshall Auerback discusses the extent to which the situation in Greece will impact the upcoming Brexit vote, the ongoing refugee crisis in Europe, and the broader existential crisis surrounding the structure of the EU in an interview on “Boom Bust.” Full video is available here (15:45).
         
In This Issue
New Research Associate Appointment
From Antigrowth Bias to Quantitative Easing
Media and Web Coverage
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