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88 publications found, searching for 'One-Pager '
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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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One-Pager No. 72May 10, 2024
If Government Can Print Money, Why Does It Borrow?
AbstractRecently, the neglected question of why the US government borrows, given that it can print money, has arisen in the context of discussions surrounding a new documentary, Finding the Money. As L. Randall Wray observes in this one-pager, Modern Money Theory has been providing answers to this question for some time; and, he argues, it is a topic that mainstream economists are ill-equipped to address, since very few concern themselves with the monetary operations that underlie the question of why a currency-issuing government issues debt.
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One-Pager No. 71December 14, 2023
Has the Time Arrived for a Job Guarantee in Europe?
AbstractIn comparison to the policy responses in the aftermath of the 2008–9 global financial crisis, the reactions of EU policymakers to the combined shocks of the COVID-19 crisis and Ukraine-Russia…more
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One-PagerDecember 07, 2022
The Causes of Pandemic Inflation
AbstractWhile the trigger for the Covid recession was unusual—a collapse of the supply side that produced a drop in demand—the inflation the US economy is now facing is not atypical,…more
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One-Pager No. 69February 21, 2022
Time to Celebrate Modern Money Theory?
AbstractA recent article in the New York Times asks whether Modern Money Theory (MMT) can declare victory after its policies were (supposedly) implemented during the response to the COVID-19 pandemic….more
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One-Pager No. 68November 01, 2021
Are Concerns over Growing Federal Government Debt Misplaced?
AbstractWith the US Treasury cutting checks totaling approximately $5 trillion to deal with the COVID-19 crisis, Senior Scholar L. Randall Wray argues that when it comes to the federal government,…more
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One-Pager No. 67June 07, 2021
Should Corporate Tax Hikes Be Included in Biden’s “Build Back Better” Plans?
AbstractPresident Biden has proposed pairing his American Jobs Plan with an increase in federal corporate income taxes. Leaving aside the issue of whether any tax increases are needed to “pay…more
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One-Pager No. 66April 01, 2021
Anatomy of a Stock Market Bubble
AbstractAccording to Frank Veneroso, a broad subset of today’s US stock market has become what he calls a “pure price-chasing bubble.” Examination of the history of comparable pure price-chasing bubbles…more
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One-Pager No. 65February 17, 2021
COVID Relief and the Inflation Warriors
AbstractWith the unveiling of President Biden’s nearly $2 trillion proposal for addressing the COVID-19 crisis, Democrats appear keen to avoid repeating the mistakes of the Great Recession—most notably the inadequate…more
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One-Pager No. 64August 19, 2020
Moral Hazard and the State Budget Crisis
AbstractAs congressional negotiations stall and state governments are poised to enact significant austerity, Alex Williams argues that fiscal aid to state governments should be tied to economic indicators rather than…more
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One-Pager No. 63April 10, 2020
Are We All MMTers Now? Not so Fast
AbstractAs governments around the world explore ambitious approaches to fiscal and monetary policy in their responses to the COVID-19 crisis, Modern Money Theory (MMT) has been thrust into the spotlight…more
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One-Pager No. 62March 13, 2020
The Economic Response to the Coronavirus Pandemic
AbstractAs the coronavirus (COVID-19) spreads across the United States, it has become clear that, in addition to the public health response (which has been far less than adequate), an economic…more
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One-Pager No. 61March 10, 2020
A Global Slowdown Will Test US Corporate Fragility
AbstractThe rapidly growing uncertainty about the potential global fallout from an emerging pandemic is occurring against a background in which there is evidence US corporate sector balance sheets are significantly…more
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One-Pager No. 60July 26, 2019
Fighting Inequality Can Strengthen the US Economy
AbstractSenators Elizabeth Warren and Bernie Sanders, along with Representative Alexandria Ocasio-Cortez, recently proposed to increase the rate of taxation on very high incomes and net worth. One of the primary…more
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One-Pager No. 59April 23, 2019
The Limitations of the “Populism” Explanation
AbstractSome common accounts of “populism” and its causes risk leading us away from understanding what is happening today in parts of the democratic West, according to Senior Scholar Joel Perlmann….more
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One-Pager No. 58November 09, 2018
A Citizenship Question on the US Census
AbstractThe Trump administration is facing a legal challenge to its efforts to add a citizenship question to the 2020 decennial census—a question that was first included in 1890, but has…more
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One-Pager No. 57September 10, 2018
Stagnating Economic Well-Being Amid Rising Government Support
AbstractThe Levy Institute Measure of Economic Well-Being (LIMEW) was designed to provide a more comprehensive understanding of the changes affecting household living standards. Ajit Zacharias, Thomas Masterson, and Fernando Rios-Avila…more
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One-Pager No. 56June 19, 2018
An Alternative to Sovereign Bond-Backed Securities for the Euro Area
AbstractThe European Commission's proposal for the regulation of sovereign bond-backed securities (SBBSs) follows the release of a high-level taskforce report, sponsored by the European Systemic Risk Board, on the feasibility…more
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One-Pager No. 55May 29, 2018
The Job Guarantee and the Economics of Fear
AbstractThe job guarantee (JG) is finally getting the public debate it deserves, according to Pavlina R. Tcherneva, and criticism is expected. Following the Levy Institute’s latest report analyzing the economic…more
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One-Pager No. 54February 06, 2018
Why the United States Will Beat China to the Next Minsky Moment
AbstractThe outgoing governor of the People’s Bank of China recently warned of a possible Chinese “Minsky moment”—Paul McCulley’s term, most recently applied to the 2007 US real estate crash that…more
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One-Pager No. 53February 06, 2017
Falling Labor Force Participation
AbstractAging demographics, “social shifts,” and other supply-side and institutional factors have commonly been blamed for the fall in the US labor force participation rate. However, depressed labor force participation for…more
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One-Pager No. 51December 11, 2015
Completing the Single Financial Market and New Fiscal Rules for the Euro Area
AbstractUntil market participants across the euro area face a single risk-free yield curve rather than a diverse collection of quasi-risk-free sovereign rates, financial market integration will not be complete. Unfortunately,…more
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One-Pager No. 50October 22, 2015
A Public Investment Priority for Job Creation in Turkey
AbstractThis one-pager presents the key findings and policy recommendations of the research project report The Impact of Public Investment in Social Care Services on Employment, Gender Equality, and Poverty: The…more
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One-Pager No. 49May 01, 2015
Lending Blind
AbstractThe 2008 Federal Open Market Committee (FOMC) transcripts provide a rare portrait of how policymakers responded to the unfolding of the world’s largest financial crisis since the Great Depression. The…more
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