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18 publications found, searching for 'Giuliano Toshiro Yajima '
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Working Paper No. 1099October 22, 2025
A Stock-Flow Consistent Model of Emulation, Debt, and Personal Income Inequality
AbstractRead the associated blog post here. Divergent trends in income and consumption inequality—with the first increasing substantially more than the latter—are an established, stylized fact for the US economy in…more
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Strategic AnalysisOctober 14, 2025
The US Economy amid Rising Global Uncertainty
AbstractContrary to upbeat announcements on the prospects for the US economy from the current administration in Washington, economic conditions are softening for this year. The market for labor is increasing…more
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One-Pager No. 73May 05, 2025
The Incoming Recession: Are Imports the Real Culprit?
AbstractThe preliminary estimates for real GDP growth in the first quarter of 2025 show an annualized contraction rate of 0.28 percent, along with an extraordinary increase in imports of 41.3…more
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Policy Note No. 2025/1April 21, 2025
Trump’s Tariffs: Ending Globalization
AbstractThe Trump administration is reintroducing a number of 40-year-old, Reagan-era economic and military policies, but is particularly preoccupied with the imposition of tariffs for all of the country’s imports. Trump,…more
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Strategic AnalysisMarch 26, 2025
Greece: Growing on an Unsustainable Path
AbstractGreece has been among the fastest growing economies among the EU member states in the post-COVID-19 period. However, in a previous (February 2024) report, Dimitri B. Papadimitriou, Nikolaos Rodousakis, Giuliano Toshiro…more
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Strategic AnalysisNovember 05, 2024
Economic Challenges of the New U.S. Administration
AbstractOn the eve of the 2024 US presidential election, the authors share their latest macroeconomic projections using the Levy Institute’s tailored stock-flow consistent model and evaluate two alternative policy scenarios, depending upon the next occupant of the White House: (1) a significant increase in import tariffs and decrease in the marginal tax rate, and (2) a substantial increase in government expenditure paired with an increase in the marginal tax rate.
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Strategic AnalysisJune 04, 2024
U.S. Economic Outlook: Prospects for 2024 and Beyond
AbstractIn this report, Institute President Dimitri B. Papadimitriou, Research Scholar Giuliano T. Yajima, and Senior Scholar Gennaro Zezza discuss the rapid recovery of the US economy in the post-pandemic period….more
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Working Paper No. 1049May 07, 2024
Deindustrialization from the Center Perspective: US Trade and Manufacturing in the Last Two Decades
AbstractWe argue that the US trade and industry sector has experienced several unsustainable sectoral processes, including (i) a fall in the trade balance in machinery and equipment and high-tech (HT)…more
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Strategic AnalysisFebruary 15, 2024
Greece: Time to Reduce the Dependency on Imports
AbstractIn this report, Dimitri B. Papadimitriou, Nikolaos Rodousakis, Giuliano T. Yajima, and Gennaro Zezza investigate the determinants of the recent performance of the Greek economy. Despite geopolitical instability from the…more
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Working Paper No. 1031October 09, 2023
A Stock-Flow Ecological Model from a Latin American Perspective
AbstractThis study aims to develop an ecological stock-flow consistent (SFC) model based on the Latin American–stylized facts regarding economic, financial, and environmental features. We combine the macro-financial theoretical framework by…more
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Strategic AnalysisJuly 20, 2023
Will the US Debt Ceiling Deal Derail the Pandemic Recovery?
AbstractIn this Strategic Analysis, Dimitri B. Papadimitriou, Michalis Nikiforos, Giuliano T. Yajima, and Gennaro Zezza discuss how the current state and structural features of the US economy might affect its…more
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Policy Note No. 2023/1May 01, 2023
Greece: Higher GDP Growth at What Cost?
AbstractIn 2022, Greek GDP grew at a higher rate than the eurozone average as the nation’s economy rebounded from the COVID-19 shock. However, it was not all welcome news. In…more
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Working Paper No. 1013January 18, 2023
The Economic and Environmental Effects of a Green Employer of Last Resort
AbstractWe assess the sectoral impact of the implementation of a “green” employer of last resort (ELR) program in the US, based on an environmental modification of an extended Kurz’s (1985)…more
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Policy Note No. 2022/3May 12, 2022
Chile: The Road to Joy Is Paved with Obstacles
AbstractIn the second round of the Chilean presidential elections, the coalition led by Gabriel Boric secured a victory under the premise of delivering long-awaited reforms to a financially volatile, structurally…more
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Working Paper No. 1004March 18, 2022
Financial Barriers to Structural Change in Developing Economies
AbstractLiabilities denominated in foreign currency have established a permanent role on emerging market firms’ balance sheets, which implies that changes in both global liquidity conditions and in the value of…more
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Working Paper No. 999January 18, 2022
Structural Change, Productive Development, and Capital Flows
AbstractThe outbreak of COVID-19 brought back to the forefront the crucial importance of structural change and productive development for economic resilience to economic shocks. Several recent contributions have already stressed…more
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Working Paper No. 995November 03, 2021
The Employer of Last Resort Scheme and the Energy Transition
AbstractThe health and economic crises of 2020–21 have revived the debate on fiscal policy as a major tool for stabilization and meeting long-term goals. The massive surge in unemployment, due…more
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Working Paper No. 980December 01, 2020
Balance Sheet Effects of a Currency Devaluation
AbstractThis working paper empirically and theoretically analyzes the exchange rate’s role in Mexico’s development for the period 2004–19. We test the hypothesis of the re(emergence) of the balance sheet effect…more
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