Publications

1703 publications found

• Working Paper No. 1021
  June 29, 2023

  Can It Be Prevented This Time?

  Giuseppe Mastromatteo and Lorenzo Esposito
  Abstract

  Since the nineties, crises have punctuated financial markets, shattering the conventional wisdom about how these markets work and how to regulate them, and forcing a deep rethinking of the supervisory…more

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• Working Paper No. 1020
  June 28, 2023

  The Macrodynamics of Indian Rupee Swap Yields

  Tanweer Akram and Khawaja Mamun
  Abstract

  This paper econometrically models the dynamics of Indian rupee (INR) swap yields based on key macroeconomic factors using the autoregressive distributive lag (ARDL) approach. It examines whether the short-term interest…more

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• Working Paper No. 1019
  May 08, 2023

  An Inquiry Concerning Japanese Yen Interest Rate Swap Yields

  Tanweer Akram and Khawaja Mamun
  Abstract

  This paper econometrically models Japanese yen (JPY)–denominated interest rate swap yields. It examines whether the short-term interest rate exerts an influence on the long-term JPY swap yield after controlling for…more

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• Working Paper No. 1018
  April 21, 2023

  The Unbearable Weight of Aging

  L. Randall Wray, Yeva Nersisyan, and Xinhua Liu
  Abstract

  The aging of the global population is in the headlines following a report that China’s population fell as deaths surpassed births. Pundits worry that a declining Chinese workforce means trouble…more

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• Working Paper No. 1017
  April 12, 2023

  Rentiers, Strategic Public Goods, and Financialization in the Periphery

  Gabriel Porcile and Gilberto Tadeu Lima
  Abstract

  This paper revisits a traditional theme in the literature on the political economy of development, namely how to redistribute rents from traditional exporters of natural resources toward capitalists in technology-intensive…more

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• Working Paper No. 1016
  February 23, 2023

  Monetary Policy and the Gender and Racial Employment Dynamics in Brazil

  Patricia Couto and Clara Brenck
  Abstract

  Monetary policy has been historically concerned with controlling inflation, using the interest rate as its main tool. However, such policies are not gender- or race-neutral. This paper explores econometrically the…more

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• Working Paper No. 1015
  February 20, 2023

  CBDC Next-Level: A New Architecture for Financial “Super-Stability” 

  Biagio Bossone and Michael Haines
  Abstract

  Fractional reserve regimes generate fragile banking, and full reserve regimes (e.g., narrow banking) remove fragility at the cost of suppressing the role of banks as lenders. A Central Bank Digital…more

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• Working Paper No. 1014
  February 16, 2023

  Chinese Yuan Interest Rate Swap Yields

  Tanweer Akram and Khawaja Mamun
  Abstract

  This paper models the dynamics of Chinese yuan (CNY)–denominated long-term interest rate swap yields. The financial sector plays a vital role in the Chinese economy, which has grown rapidly in…more

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• Working Paper No. 1013
  January 18, 2023

  The Economic and Environmental Effects of a Green Employer of Last Resort

  Giuliano Toshiro Yajima, Nikolaos Rodousakis, and George Soklis
  Abstract

  We 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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• Working Paper No. 1012
  December 16, 2022

  An Analysis of UK Swap Yields

  Tanweer Akram and Khawaja Mamun
  Abstract

  John Maynard Keynes argued that the central bank influences the long-term interest rate through the effect of its policy rate on the short-term interest rate. However, Keynes's claim was confined…more

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• One-Pager
  December 07, 2022

  The Causes of Pandemic Inflation

  L. Randall Wray
  Abstract

  While 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

  Download One-Pager No. 70 PDF (128.13 KB)
• Strategic Analysis
  October 13, 2022

  Ελλάδα: Ανάκαμψη, ή μια νέα Ύφεση;

  Dimitri B. Papadimitriou, Gennaro Zezza, and Nikolaos Rodousakis
  Abstract

  Σε αυτή τη στρατηγική ανάλυση, ο Πρόεδρος του Ινστιτούτου Δημήτρης Παπαδημητρίου, ο ερευνητής Gennaro Zezza και ο επιστημονικός συνεργάτης Νίκος Ροδουσάκης αναλύουν τις μεσοπρόθεσμες προοπτικές για την ελληνική οικονομία, σε…more

  Download ΕΛΛΑΔΑ ΣΤΡΑΤΗΓΙΚΗ ΑΝΑΛΥΣΗ 10 2022 PDF (1.27 MB)
• Strategic Analysis
  October 13, 2022

  Greece: Recovery, or Another Recession?

  Dimitri B. Papadimitriou, Gennaro Zezza, and Nikolaos Rodousakis
  Abstract

  In this strategic analysis, Institute President Dimitri B. Papadimitriou, Senior Scholar Gennaro Zezza, and Research Associate Nikolaos Rodousakis discuss the medium-term prospects for the Greek economy in a time of…more

  Download Strategic Analysis, October 2022 PDF (1.18 MB)
• Working Paper No. 1011
  September 27, 2022

  The Dynamics of Monthly Changes in US Swap Yields

  Tanweer Akram and Khawaja Mamun
  Abstract

  John Maynard Keynes (1930) asserted that the central bank sways the long-term interest rate through the influence of its policy rate on the short-term interest rate. Recent empirical research shows…more

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• Working Paper No. 1010
  September 06, 2022

  Reflections on Angela Merkel’s Career as Chancellor of Germany and the Greek Financial Odyssey

  George Zestos, Harrison Whittleton, and Alejandro Fernandez-Ribas
  Abstract

  Angela Merkel is the second-longest-serving chancellor of modern Germany, with more than 16 years in office. During her tenure there were many years of economic stability, but there were also…more

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• Strategic Analysis
  August 11, 2022

  Avoiding a Recession

  Dimitri B. Papadimitriou, Gennaro Zezza, and Michalis Nikiforos
  Abstract

  In this report, Institute President Dimitri B. Papadimitriou, Research Scholar Michalis Nikiforos, and Senior Scholar Gennaro Zezza analyze how and why the US economy has achieved a swift recovery in…more

  Download Strategic Analysis, August 2022 PDF (2.20 MB)
• Working Paper No. 1009
  August 08, 2022

  Efficacy of Public Financial Management in Reducing Crime against Children

  Lekha S. Chakraborty
  Abstract

  Public financial management (PFM) has a significant role in linking resources to results by financing human development outcomes. When economic stimulus packages are short run in nature, thematic PFM, such…more

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• Policy Note No. 4
  August 05, 2022

  Social State and Competitiveness

  Alexandra Papaisidorou and Emmanouil Karakostas
• Policy Note No. 4
  August 05, 2022

  Κοινωνικό κράτος και ανταγωνιστικότητα

  Alexandra Papaisidorou and Emmanouil Karakostas
  Abstract

  Με τη δημοσίευση το 1971 της Θεωρίας της δικαιοσύνης του Rawls μας προσφέρεται μια πλήρως επεξεργασμένη πρόταση για τη δίκαιη κοινωνία και τους βασικούς θεσμούς της. Η κοινωνία αυτή είναι…more

  Download Σημείωση Πολιτικής 2022/4 PDF (145.80 KB)
• Research Project Report
  June 30, 2022

  Assessing the Impact of Childcare Expansion in Mexico

  Rania Antonopoulos, Ajit Zacharias, Thomas Masterson, Fernando Rios-Avila, and Luiza Nassif Pires
  Abstract

  There is broad consensus in both research and policy circles that one of the key reasons for a lack of progress in reducing gender gaps in employment and wages is…more

  Download Research Project Report, June 2022 PDF (1.25 MB)
• Working Paper No. 1008
  May 24, 2022

  A GARCH Approach to Modeling Chilean Long-Term Swap Yields

  Tanweer Akram and Khawaja Mamun
  Abstract

  This paper econometrically models the dynamics of the Chilean interbank swap yields based on macroeconomic factors. It examines whether the month-over-month change in the short-term interest rate has a decisive…more

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• Working Paper No. 1007
  May 12, 2022

  School Performance and Child Labor

  Sameh Hallaq and Ayman Khalifah
  Abstract

  The current study aims to investigate the impact of academic achievement on child labor. The study utilizes survey data collected from Palestinian children in West Bank schools who are in…more

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• Policy Note No. 3
  May 12, 2022

  Chile: The Road to Joy Is Paved with Obstacles

  Giuliano Toshiro Yajima
  Abstract

  In 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

  Download Policy Note 2022/3 PDF (722.12 KB)
• Working Paper No. 1006
  April 29, 2022

  Why the Feldstein-Horioka “Puzzle” Remains Unsolved

  Jesus Felipe, Scott Fullwiler, and Al-Habbyel Yusoph
  Abstract

  This paper argues that the 40-year-old Feldstein-Horioka “puzzle” (i.e., that in a regression of the domestic investment rate on the domestic saving rate, the estimated coefficient is significantly larger than…more

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