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A Conference of The Levy Economics Institute of Bard College

16th Annual Hyman P. Minsky Conference on the State of the U.S. and World Economies
“Global Imbalances: Prospects for the U.S.
and World Economies”

April 19–20, 2007

PROGRAM

THURSDAY, APRIL 19
9:00–10:00 a.m. BREAKFAST AND REGISTRATION
10:00–10:45 a.m. WELCOME AND INTRODUCTION

“Global Imbalances: The U.S. and the Rest of the World”
Dimitri B. Papadimitriou
, The Levy Economics Institute
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11:00 a.m.–12:45 p.m. SESSION 1 – THE STATE OF THE U.S. AND WORLD ECONOMIES

Moderator: Dimitri B. Papadimitriou, The Levy Economics Institute

Speakers:
“Monitoring Windows of Vulnerability, or, How to Stop Crying Wolf”
Lakshman Achuthan, Economic Cycle Research Institute
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“Financiers Gone Wild: Entering a Minsky Moment for the U.S. Household Sector”
Robert W. Parenteau, RCM
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12:45–2:30 p.m. LUNCH
“Can the European Economy Decouple from the U.S.?”
Speaker:
Wolfgang Munchau, Financial Times
2:45–4:15 p.m. SESSION 2 – MONETARY POLICY IN THE U.S. ECONOMY

Moderator: Greg Hannsgen, The Levy Economics Institute

Speakers:
“Lessons from the Great Inflation and Disinflation”
Torsten Slok
, Deutsche Bank Securities, Inc.
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“Four Global Asset Price Bubbles in Twenty Years—A Historic Anomaly or the Wave of the Future?”
Robert Z. Aliber, University of Chicago

4:15–4:45 p.m. COFFEE BREAK
4:45–6:15 p.m. SESSION 3 – FINANCIAL INSTABILITY IN A GLOBAL ECONOMY

Moderator: W. Ray Towle, The Levy Economics Institute

Speakers:
“From the Glut of Savings to the Glut of Dollars”
Korkut Ertürk, The Levy Economics Institute and University of Utah
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“Mutual Economic Policy Interests and Global Imbalances: Developed and
Developing Countries in a Globally Integrated Trade and Financial System”

Jan A. Kregel, The Levy Economics Institute and University of Missouri–Kansas City

“Stabilizing the Unstable Economy, Revisited: Extending Minsky’s Analysis to the Open Economy”
L. Randall Wray, The Levy Economics Institute and University of Missouri–Kansas City
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6:30–7:15 p.m. RECEPTION
7:15 p.m. DINNER

FRIDAY, APRIL 20
9:00–9:30 a.m. BREAKFAST
9:30–10:15 a.m. “The Cult of Zero”
Speaker:
James K. Galbraith, The Levy Economics Institute and University of Texas at Austin
10:30 a.m.–12:15 p.m. SESSION 4 – THE MACROECONOMIC PROSPECTS FOR THE U.S. ECONOMY

Moderator: Ajit Zacharias, The Levy Economics Institute

Speakers:
“Economic and Financial Market Outlook”   
James W. Paulsen
, Wells Capital Management

“Who Is the Heir Apparent to Alan Greenspan? Hu Indeed!”
Robert J. Barbera, ITG

“The 2007–2008 Outlook...Growth without the Steroids”
James E. Glassman
, J. P. Morgan Securities, Inc.
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12:15–2:00 p.m. LUNCH
“The U.S. Economic Outlook”
Speaker: Frederic S. Mishkin, Federal Reserve Board

1986-2007, The Levy Economics Institute, Annandale-on-Hudson, NY 12504-5000. All rights reserved.