Publications

1699 publications found

• Working Paper No. 825
  January 02, 2015

  Why Does Brazil’s Banking Sector Need Public Banks?

  Felipe Rezende
  Abstract

  The 2007–8 global financial crisis has shown the failure of private finance to efficiently allocate capital to finance real capital development. The resilience and stability of Brazil’s financial system has received…more

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• Working Paper No. 824
  January 02, 2015

  Building the Entrepreneurial State

  Mariana Mazzucato
  Abstract

  Today, countries around the world are seeking “smart” innovation-led growth, and hoping that this growth is also more “inclusive” and “sustainable” than in the past. This paper argues that such…more

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• Working Paper No. 824
  January 02, 2015

  Η οικοδόμηση του επιχειρηματικού κράτους

  Mariana Mazzucato
  Abstract

  Σήμερα, οι χώρες σε όλο τον κόσμο αναζητούν «έξυπνη» ανάπτυξη, καθοδηγούμενη από την καινοτομία, και ευελπιστούν ότι αυτή η ανάπτυξη θα είναι επίσης πιο «περιεκτική» και «βιώσιμη» από ό, τι…more

  Download Επιστημονική εργασία υπό εξέλιξη (Working Paper) No. 824 PDF (2.12 MB)
• Working Paper No. 823
  December 19, 2014

  The State and National Systems of Innovation

  Giovanna Vertova
  Abstract

  This paper starts with a review of the literature about National Systems of Innovation (NSI), by linking the origin of the concept to the evolutionary theory of the firm and…more

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• Working Paper No. 822
  December 16, 2014

  The Socialization of Investment, from Keynes to Minsky and Beyond

  Riccardo Bellofiore
  Abstract

  An understanding of, and an intervention into, the present capitalist reality requires that we put together the insights of Karl Marx on labor, as well as those of Hyman Minsky…more

  Download Working Paper No. 822 PDF (484.88 KB)
• Working Paper No. 822
  December 16, 2014

  Η κοινωνικοποίηση της επένδυσης από τον Keynes στον Minsky και ακόμα πιο πέρα

  Riccardo Bellofiore
  Abstract

  Ένας συνδυασμός των ιδεών του Καρλ Μαρξ για την εργασία και του Hyman Minsky για το χρηματοοικονομικό σύστημα είναι απαραίτητη προϋπόθεση για την κατανόηση της σημερινής καπιταλιστικής πραγματικότητας και για…more

  Download Επιστημονική εργασία υπό εξέλιξη (Working Paper) No. 822 PDF (432.39 KB)
• Working Paper No. 821
  December 12, 2014

  Outside Money

  L. Randall Wray
  Abstract

  Over the past two decades there has been a revival of Georg Friedrich Knapp’s “state money” approach, also known as chartalism. The modern version has come to be called Modern…more

  Download Working Paper No. 821 PDF (435.07 KB)
• Policy Notes No. 6
  December 05, 2014

  Γιατί η αύξηση των επιτοκίων μπορεί να επιταχύνει την ανάκαμψη

  Jan Kregel
  Abstract

  Υπάρχουν δύο ειδών επικρίσεις στην «αντισυμβατική» απάντηση της νομισματικής πολιτικής του Ομοσπονδιακού Αποθεματικού (Fed) των ΗΠΑ στην πρόσφατη χρηματοπιστωτική και οικονομική κρίση (Great Recession). Από τη μια μεριά υποστηρίζεται ότι…more

  Download Σημείωμα Πολιτικής 2014/6 PDF (379.21 KB)
• Policy Notes No. 6
  December 05, 2014

  Why Raising Rates May Speed the Recovery

  Jan Kregel
  Abstract

  Criticisms of the Federal Reserve’s “unconventional” monetary policy response to the Great Recession have been of two types. On the one hand, the tripling in the size of the Fed’s…more

  Download Policy Note 2014/6 PDF (165.48 KB)
• Book Series
  November 30, 2014

  Contributions to Economic Theory, Policy, Development and Finance: Essays in Honor of Jan A. Kregel

  Dimitri B. Papadimitriou
  Abstract

  Levy Institute Senior Scholar Jan A. Kregel is a prominent Post-Keynesian economist. This study combines lessons drawn from events and experiences of developing countries and examines them in relation to…more

• Working Paper No. 820
  November 25, 2014

  Minsky, Monetary Policy, and Mint Street

  Srinivas Yanamandra
  Abstract

  This paper examines the emerging challenges to the art of monetary policymaking using the case study of the Reserve Bank of India (RBI) in light of developments in the Indian…more

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• Policy Notes No. 5
  November 17, 2014

  Liquidity Preference and the Entry and Exit to ZIRP and QE

  Jan Kregel
  Abstract

  The Fed’s zero interest policy rate (ZIRP) and quantitative easing (QE) policies failed to restore growth to the US economy as expected (i.e., increased investment spending à la John Maynard…more

  Download Policy Note 2014/5 PDF (184.57 KB)
• Policy Notes No. 5
  November 17, 2014

  Θεωρία προτίμησης ρευστότητας, πολιτική μηδενικών επιτοκίων και ποσοτική χαλάρωση

  Jan Kregel
  Abstract

  Οι πολιτικές μηδενικών επιτοκίων και ποσοτικής χαλάρωσης του Ομοσπονδιακού Αποθεματικού των ΗΠΑ απέτυχαν να αποκαταστήσουν την ανάπτυξη στην αμερικανική οικονομία, όπως και αναμενόταν να συμβεί με βάση τη θεωρία (δηλαδή…more

  Download Σημείωμα Πολιτικής 2014/5 PDF (425.45 KB)
• Working Paper No. 819
  November 13, 2014

  An Outline of a Progressive Resolution to the Euro-area Sovereign Debt Overhang

  Dimitris P. Sotiropoulos, John Milios, and Spyros Lapatsioras
  Abstract

  The present study puts forward a plan for solving the sovereign debt crisis in the euro area (EA) in line with the interests of the working classes and the social…more

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• Working Paper No. 819
  November 13, 2014

  Το περίγραμμα μιας προοδευτικής πρότασης για την επίλυση της κρίσης χρέους στην ευρωζώνη

  Dimitris P. Sotiropoulos, John Milios, and Spyros Lapatsioras
  Abstract

  λιτότητα δρα καταστροφικά για την εργαζόμενη πλειοψηφία σε όλες τις ευρωπαϊκές χώρες και ιδίως σε εκείνες που βρίσκονται σε προγράμματα «δημοσιονομικής προσαρμογής» που επιτηρούνται από την Τρόικα. Οι κοινωνικές ανισότητες…more

  Download Επιστημονική εργασία υπό εξέλιξη (Working Paper) No. 819 PDF (883.30 KB)
• Book Series
  October 24, 2014

  Economic Development and Financial Instability: Selected Essays

  Jan Kregel and Rainer Kattel
  Abstract

  This volume is the first collection of essays by Jan Kregel focusing on the role of finance in development and growth, and it demonstrates the extraordinary depth and breadth of…more

• Working Paper No. 818
  October 09, 2014

  The Determinants of Long-Term Japanese Government Bonds’ Low Nominal Yields

  Tanweer Akram and Anupam Das
  Abstract

  During the past two decades of economic stagnation and persistent deflation in Japan, chronic fiscal deficits have led to elevated and rising ratios of government debt to nominal GDP. Nevertheless,…more

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• Working Paper No. 818
  October 09, 2014

  Οι προσδιοριστικοί παράγοντες των χαμηλών ονομαστικών αποδόσεων στα μακροπρόθεσμα κρατικά ομόλογα της Ιαπωνίας

  Tanweer Akram and Anupam Das
  Abstract

  Κατά τη διάρκεια των τελευταίων δύο δεκαετιών οικονομικής στασιμότητας και επίμονου αποπληθωρισμού στην Ιαπωνία, τα χρόνια δημοσιονομικά ελλείμματα έχουν οδηγήσει σε υψηλά και συνεχώς αυξανόμενα επίπεδα την αναλογία του δημόσιου…more

  Download Επιστημονική Εργασία υπό Εξέλιξη (Working Paper) No. 818 PDF (3.76 MB)
• One-Pager No. 47
  October 06, 2014

  Ανάπτυξη για ποιόν;

  Pavlina R. Tcherneva
  Abstract

  Στη μεταπολεμική περίοδο, η αύξηση του εισοδήματος έχει γίνει πιο άνισα κατανεμημένη με κάθε επακόλουθη οικονομική επέκταση. Από το 2009 μέχρι το 2012, ενώ η οικονομία ανακάμπτει από μια από…more

  Download Μονοσέλιδο No.47 PDF (229.13 KB)
• One-Pager No. 47
  October 06, 2014

  Growth for Whom?

  Pavlina R. Tcherneva
  Abstract

  In the postwar period, income growth has become more inequitably distributed with virtually every subsequent economic expansion. From 2009 to 2012, while the economy was recovering from one of the…more

  Download One-Pager No. 47 PDF (113.75 KB)
• Working Paper No. 817
  September 30, 2014

  Endogenous Money and the Natural Rate of Interest

  Philip Pilkington
  Abstract

  Since the beginning of the fall of monetarism in the mid-1980s, mainstream macroeconomics has incorporated many of the principles of post-Keynesian endogenous money theory. This paper argues that the most…more

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• Working Paper No. 816
  September 30, 2014

  Coping with Imbalances in the Euro Area

  Eckhard Hein and Daniel Detzer
  Abstract

  In this paper we outline alternative policy recommendations addressing the problems of differential inflation, divergence in competitiveness, and associated current account imbalances within the euro area. The major purpose of…more

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• Working Paper No. 815
  September 17, 2014

  Public Preferences for Redistributive Policies in Israel

  Yuval Elmelech
  Abstract

  This paper contributes to the literature on inequality and welfare policy by studying public support for redistributive policies in Israel, a society with an extreme level of socioeconomic inequality. Drawing…more

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• Public Policy Brief No. 137
  September 15, 2014

  The ECB and the Single European Financial Market

  Mario Tonveronachi
  Abstract

  The flaws of the Maastrict Treaty are a frequent object of commentary but, as yet, Europe remains unable—or, perhaps more accurately, unwilling—to address these flaws. The European project will remain…more

  Download Public Policy Brief No. 137, 2014 PDF (244.67 KB)