Levy Economics Institute Newsletter
Levy Economics Institute of Bard College
June 22, 2016
2016 Minsky Summer Seminar
Minsky Summer Seminar 2016
The Institute’s seventh annual Hyman P. Minsky Summer Seminar came to a close this past weekend. Sixty-one students from 25 countries attended the 10-day seminar—our largest enrollment to date. A great and informative time was had by all!
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.

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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 for the video.

Research Associate Marshall Auerback discusses the extent to which the situation in Greece will impact the upcoming Brexit vote; Europe’s ongoing refugee crisis; 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
2016 Hyman P. Minsky Summer Seminar
From Antigrowth Bias to Quantitative Easing
Media and Web Coverage
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Multiplier Effect
Paul McCulley Has Had It with Orthodox Macroeconomists
Basic Income and the Job Guarantee
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