Publications

1699 publications found

• Policy Notes No. 6
  June 07, 2012

  The Wrong Risks

  Jan Kregel
  Abstract

  What can we learn from JPMorgan Chase’s recent self-proclaimed “stupidity” in attempting to hedge the bank’s global risk position? Clearly, the description of the bank’s trading as “sloppy” and reflecting…more

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• Policy Notes No. 5
  June 07, 2012

  Η λιτότητα που δεν υπήρξε ποτέ;

  Rainer Kattel and Ringa Raudla
  Abstract

  Οι οικονομίες της Βαλτικής παρουσιάζονται συχνά ως παράδειγμα ενός επιτυχημένου προγράμματος λιτότητας, με την εφαρμογή της «εσωτερικής» υποτίμησης ως στρατηγική για οικονομική ανάκαμψη. Σε αυτό το Σημείωμα Πολιτικής εξετάζουμε αν…more

  Download Σημείωμα Πολιτικής 2012/5 PDF (340.60 KB)
• Policy Notes No. 5
  June 07, 2012

  Austerity that Never Was?

  Rainer Kattel and Ringa Raudla
  Abstract

  The commonly cited example of the successful application of “internal” devaluation as a strategy for economic recovery is that of the Baltic economies. In this Policy Note, we discuss whether…more

  Download Policy Note 2012/5 PDF (198.43 KB)
• Working Paper No. 725
  May 17, 2012

  Problems with Regional Production Functions and Estimates of Agglomeration Economies

  Jesus Felipe and John McCombie
  Abstract

  Over the last 20 years or so, mainstream economists have become more interested in spatial economics and have introduced largely neoclassical economic concepts and tools to explain phenomena that were…more

  Download Working Paper No. 725 PDF (372.49 KB)
• Working Paper No. 724
  May 17, 2012

  Ο Θεσμικός μετα-Κεϋνσιανισμός μετά τη Μεγάλη Κάμψη

  Charles J. Whalen
  Abstract

  Η εργασία αυτή ερευνά το πλαίσιο και το περίγραμμα του σύγχρονου Θεσμικού μετα-Κεϋνσιανισμού (ΘΜΚ). Ξεκινά με την ανασκόπηση της πρόσφατης κριτικής διακεκριμένων οικονομολόγων στα παραδοσιακά οικονομικά και εξετάζει, εντός του…more

  Download Επιστημονική εργασία υπό εξέλιξη (Working Paper) No. 724 PDF (500.87 KB)
• Working Paper No. 724
  May 17, 2012

  Post-Keynesian Institutionalism after the Great Recession

  Charles J. Whalen
  Abstract

  This paper surveys the context and contours of contemporary Post-Keynesian Institutionalism (PKI). It begins by reviewing recent criticism of conventional economics by prominent economists as well as examining, within the…more

  Download Working Paper No. 724 PDF (268.35 KB)
• Working Paper No. 723
  May 14, 2012

  Fiscal Policy, Unemployment Insurance, and Financial Crises in a Model of Growth and Distribution

  Abstract

  Recently, some have wondered whether a fiscal stimulus plan could reduce the government’s budget deficit. Many also worry that fiscal austerity plans will only bring higher deficits. Issues of this…more

  Download Working Paper No. 723 PDF (538.26 KB)
• Working Paper No. 722
  May 11, 2012

  Guaranteed Green Jobs

  Antoine Godin
  Abstract

  In most economies, the potential of saving energy via insulation and more efficient uses of electricity is important. In order to reach the Kyoto Protocol objectives, it is urgent to…more

  Download Working Paper No. 722 PDF (2.48 MB)
• Working Paper No. 721
  May 11, 2012

  The Euro Debt Crisis and Germany’s Euro Trilemma

  Jörg Bibow
  Abstract

  This paper investigates the causes behind the euro debt crisis, particularly Germany’s role in it. It is argued that the crisis is not primarily a “sovereign debt crisis” but rather…more

  Download Working Paper No. 721 PDF (2.09 MB)
• Working Paper No. 721
  May 11, 2012

  Η κρίση ευρω-χρέους και το ευρωτρίλλημα της Γερμανίας

  Jörg Bibow
  Abstract

  Η εργασία εξετάζει τα αίτια της κρίσης χρέους στην ευρωζώνη, κυρίως τη συμβολή της Γερμανίας σε αυτή. Η εργασία προβάλλει το επιχείρημα ότι η κρίση δεν είναι πρωτίστως «κρίση δημοσίου…more

  Download Επιστημονική εργασία υπό εξέλιξη (Working Paper) No. 721 PDF (3.33 MB)
• Working Paper No. 719
  May 09, 2012

  Reorienting Fiscal Policy after the Great Recession

  Pavlina R. Tcherneva
  Abstract

  The paper evaluates the fiscal policy initiatives during the Great Recession in the United States. It argues that, although the nonconventional fiscal policies targeted at the financial sector dwarfed the…more

  Download Working Paper No. 719 PDF (1.09 MB)
• Working Paper No. 719
  May 09, 2012

  Επαναπροσδιορίζοντας τη δημοσιονομική πολιτική μετά τη Μεγάλη Κάμψη

  Pavlina R. Tcherneva
  Abstract

  Το κείμενο αξιολογεί τις πρωτοβουλίες δημοσιονομικής πολιτικής που εφαρμόστηκαν κατά τη διάρκεια της Μεγάλης Κάμψης στις Ηνωμένες Πολιτείες. Η συγγραφέας του θεωρεί ότι, παρά το γεγονός ότι οι μη συμβατικές…more

  Download Επιστημονική Εργασία υπό Εξέλιξη (Working Paper) No. 719 PDF (1.38 MB)
• One-Pager No. 30
  May 04, 2012

  Η οικοδόμηση ενός αποτελεσματικού ρυθμιστικού συστήματος απαιτεί μια θεωρία χρηματοοικονομικής αστάθειας

  Jan Kregel and Dimitri B. Papadimitriou
  Abstract

  Ο Χάιμαν Μίνσκυ είχε συγκεκριμένες απόψεις για το πώς θα έπρεπε να αναδιαμορφωθεί το ρυθμιστικό σύστημα και η χρηματοοικονομική αρχιτεκτονική, και ένα από τα πολλά μαθήματα που μπορούμε να αντλήσουμε…more

  Download Μονοσέλιδο Νο. 30 PDF (240.61 KB)
• One-Pager No. 30
  May 04, 2012

  Building Effective Regulation Requires a Theory of Financial Instability

  Jan Kregel and Dimitri B. Papadimitriou
  Abstract

  Hyman Minsky had particular views about how the regulatory system and financial architecture should be reformulated, and one of the many lessons we can learn from his work is that…more

  Download One-Pager No. 30 PDF (57.10 KB)
• Working Paper No. 718
  May 04, 2012

  Aggregate Production Functions and the Accounting Identity Critique

  Jesus Felipe and John McCombie
  Abstract

  In a reply to Felipe and McCombie (2010a), Temple (2010) has largely ignored the main arguments that underlie the accounting identity critique of the estimation of production functions using value…more

  Download Working Paper No. 718 PDF (429.44 KB)
• Working Paper No. 717
  May 03, 2012

  Introduction to an Alternative History of Money

  L. Randall Wray
  Abstract

  This paper integrates the various strands of an alternative, heterodox view on the origins of money and the development of the modern financial system in a manner that is consistent…more

  Download Working Paper No. 717 PDF (228.94 KB)
• Working Paper No. 717
  May 03, 2012

  Μια εισαγωγή στην εναλλακτική ιστορία του χρήματος

  L. Randall Wray
  Abstract

  Η εργασία αυτή ενσωματώνει τις διάφορες συνιστώσες μιας εναλλακτικής, ετερόδοξης άποψης αναφορικά με την προέλευση του χρήματος και την ανάπτυξη του σύγχρονου χρηματοπιστωτικού συστήματος με τρόπο που να συνάδει με…more

  Download Επιστημονική εργασία υπό εξέλιξη (Working Paper) No. 717 PDF (739.09 KB)
• Working Paper No. 716
  April 30, 2012

  Measuring Macroprudential Risk through Financial Fragility

  Abstract

  This paper presents a method to capture the growth of financial fragility within a country and across countries. This is done by focusing on housing finance in the United States,…more

  Download Working Paper No. 716 PDF (401.55 KB)
• Working Paper No. 715
  April 30, 2012

  Tracking the Middle-income Trap

  Jesus Felipe, Utsav Kumar, and Arnelyn Abdon
  Abstract

  This paper provides a working definition of what the middle-income trap is. We start by defining four income groups of GDP per capita in 1990 PPP dollars: low-income below $2,000;…more

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• Working Paper No. 714
  April 26, 2012

  Managing Global Financial Flows at the Cost of National Autonomy

  Sunanda Sen
  Abstract

  The narrative as well as the analysis of global imbalances in the existing literature are incomplete without the part of the story that relates to the surge in capital flows…more

  Download Working Paper No. 714 PDF (766.53 KB)
• One-Pager No. 29
  April 18, 2012

  Eurozone Crisis 2.0

  C. J. Polychroniou
  Abstract

  Since last month’s Greek bond swap, various European leaders have declared the eurozone crisis over or “almost over.” But Euroland’s current economic reality begs to differ. No matter how much…more

  Download One-Pager No. 29 PDF (69.84 KB)
• Strategic Analysis
  April 15, 2012

  Back to Business as Usual? Or a Fiscal Boost?

  Dimitri B. Papadimitriou and Gennaro Zezza
  Abstract

  Though the economy appears to be gradually gaining momentum, broad measures indicate that 14.5 percent of the US labor force is unemployed or underemployed, not much below the 16.2 percent…more

  Download Strategic Analysis, April 2012 PDF (522.53 KB)
• Strategic Analysis
  April 15, 2012

  Πίσω στις συνήθεις τακτικές ή δημοσιονομική τόνωση;

  Dimitri B. Papadimitriou and Gennaro Zezza
  Abstract

  Αν και η οικονομία φαίνεται να βελτιώνεται σταδιακά, οι ευρείς δείκτες καταγράφουν ότι το 14.5% του αμερικανικού εργατικού δυναμικού είναι άνεργο ή υποαπασχολήσιμο, ποσοστό όχι πολύ χαμηλότερο από το 16.2%…more

  Download Στρατηγική Ανάλυση, Απρίλιος 2012 PDF (1.09 MB)
• Book Series
  April 10, 2012

  Beyond the Minsky Moment: Where We’ve Been, Why We Can’t Go Back, and the Road Ahead for Financial Reform

  Abstract

  This eBook traces the roots of the 2008 financial meltdown to the structural and regulatory changes leading from the 1933 Glass-Steagall Act to the 1999 Financial Services Modernization Act, and…more

  Download eBook, April 2012 PDF (1.98 MB)