Publications

1699 publications found

• Working Paper No. 1003
  March 04, 2022

  What’s Causing Accelerating Inflation

  L. Randall Wray and Yeva Nersisyan
  Abstract

  This paper examines the recent increase of the measured inflation rate to assess the degree to which the acceleration is due to problems created (largely on the supply side) by…more

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• Strategic Analysis
  March 01, 2022

  Είναι η Ελλάδα στον δρόμο της οικονομικής ανάκαμψης;

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

  Σε αυτή τη στρατηγική ανάλυση, ο Πρόεδρος του Ινστιτούτου Δημήτρης Β. Παπαδημητρίου, ο ερευνητής Gennaro Zezza και ο επιστημονικός συνεργάτης Νίκος Ροδουσάκης αναλύουν πώς η ελληνική οικονομία άρχισε να ανακάμπτει…more

  Download Στρατηγικη Αναλυση, Μάρτιος 2022 PDF (653.70 KB)
• Strategic Analysis
  March 01, 2022

  Is Greece on the Road to Economic Recovery?

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

  In this strategic analysis, Institute President Dimitri B. Papadimitriou, Research Scholar Gennaro Zezza, and Research Associate Nikos Rodousakis analyze how the Greek economy started to recover from the shock of…more

  Download Strategic Analysis, March 2022 PDF (1.33 MB)
• Policy Notes No. 1
  February 25, 2022

  Τι συμβαίνει με τα νέα δεδομένα των ελληνικών Εθνικών Λογαριασμών;

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

  Tο 2020, η Ελληνική Στατιστική Αρχή (ΕΛΣΤΑΤ) ξεκίνησε την αναθεώρηση των εθνικών λογαριασμών για την Ελλάδα, προκειμένου να εναρμονιστούν με το νέο Ευρωπαϊκό Σύστημα Λογαριασμών. Τα δεδομένα από τους εθνικούς…more

  Download ΣΗΜΕΙΩΜΑΤΑ ΠΟΛΙΤΙΚΗΣ No. 1 | Μάρτιος 2022 PDF (2.11 MB)
• Policy Notes No. 1
  February 25, 2022

  What Is Happening to the New Greek National Accounts Data?

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

  In 2020, the Hellenic Statistical Authority (ElStat) started a revision of the national accounts for Greece to bring them into line with the new European System of Accounts. Data from…more

  Download Policy Note 2022/1 PDF (1.17 MB)
• One-Pager No. 69
  February 21, 2022

  Time to Celebrate Modern Money Theory?

  L. Randall Wray and Yeva Nersisyan
  Abstract

  A 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

  Download One-Pager No. 69 PDF (140.61 KB)
• Working Paper No. 1002
  February 04, 2022

  COVID-19 and Fiscal-Monetary Policy Coordination

  Lekha S. Chakraborty and Harikrishnan S
  Abstract

  Against the backdrop of the COVID-19 pandemic, this paper analyzes the economic stimulus packages announced by the Indian national government and tries to identify some plausible fiscal and monetary policy…more

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• Working Paper No. 1001
  February 02, 2022

  Estimating a Time-Varying Distribution-Led Regime

  Michalis Nikiforos and Paul Carrillo-Maldonado
  Abstract

  This paper estimates the distribution-led regime of the US economy for the period 1947–2019. We use a time varying parameter model, which allows for changes in the regime over time….more

  Download Working Paper No. 1001 PDF (1.69 MB)
• Working Paper No. 999
  January 18, 2022

  Structural Change, Productive Development, and Capital Flows

  Alberto Botta, Giuliano Toshiro Yajima, and Gabriel Porcile
  Abstract

  The 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. 998
  January 10, 2022

  Technology and Productivity

  Fred Block
  Abstract

  Economic analysts have used trends in total factor productivity (TFP) to evaluate the effectiveness with which economies are utilizing advances in technology. However, this measure is problematic on several different…more

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• Working Paper No. 997
  December 22, 2021

  Identity and Well-Being in the Skilled Crafts and Trades

  Martin Binder and Ann-Kathrin Blankenberg
  Abstract

  We analyze the extent to which occupational identity is conducive to worker well-being. Using a unique survey dataset of individuals working in the German skilled crafts and trades (2017–18, n=757),…more

  Download Working Paper No. 997 PDF (1.38 MB)
• Working Paper No. 996
  December 13, 2021

  Seven Replies to the Critiques of Modern Money Theory

  Abstract

  Modern Money Theory (MMT) has generated considerable scrutiny and discussions over the past decade. While it has gained some acceptance in the financial sector and among some politicians, it has…more

  Download Working Paper No. 996 PDF (1.70 MB)
• Public Policy Brief No. 156
  December 08, 2021

  Still Flying Blind after All These Years

  Dimitri B. Papadimitriou and L. Randall Wray
  Abstract

  Institute President Dimitri B. Papadimitriou and Senior Scholar L. Randall Wray contend that the prevailing approach to monetary policy and inflation is influenced by a set of concepts that are…more

  Download Public Policy Brief No. 156 PDF (1,013.14 KB)
• Policy Notes No. 4
  November 10, 2021

  A Recovery for Whom?

  Nikolaos Rodousakis, Vlassis Missos, and George Soklis
  Abstract

  The COVID-19 pandemic has revealed multiple risks faced by economies whose production structures depend on the volatility of international conditions. In the case of Greece, this has manifested itself in…more

  Download Policy Note 2021/4 PDF (132.08 KB)
• Working Paper No. 995
  November 03, 2021

  The Employer of Last Resort Scheme and the Energy Transition

  Giuliano Toshiro Yajima
  Abstract

  The 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

  Download Working Paper No. 995 PDF (1.12 MB)
• One-Pager No. 68
  November 01, 2021

  Are Concerns over Growing Federal Government Debt Misplaced?

  L. Randall Wray
  Abstract

  With 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

  Download One-Pager No. 68 PDF (106.37 KB)
• Working Paper No. 994
  October 26, 2021

  Production Function Estimation

  Jesus Felipe, Donna Faye Bajaro, John McCombie, and Aashish Mehta
  Abstract

  The possible endogeneity of labor and capital in production functions, and the consequent bias of the estimated elasticities, has been discussed and addressed in the literature in different ways since…more

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• Working Paper No. 993
  September 03, 2021

  The Sraffian Supermultiplier and Cycles

  Michalis Nikiforos, Marcio Santetti, and Rudiger von Arnim
  Abstract

  This paper provides a theoretical and empirical reassessment of supermultiplier theory. First, we show that, as a result of the passive role it assigns to investment, the Sraffian supermultiplier (SSM)…more

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• Working Paper No. 992
  August 31, 2021

  Modeling Monopoly Money

  Sam Levey
  Abstract

  Many of the claims put forth by Modern Monetary Theory (MMT) center around the state’s monopoly over its own currency. In this paper I interrogate the plausibility of two claims:…more

  Download Working Paper No. 992 PDF (1.93 MB)
• Working Paper No. 991
  July 12, 2021

  Multifactor Keynesian Models of the Long-Term Interest Rate

  Tanweer Akram
  Abstract

  This paper presents multifactor Keynesian models of the long-term interest rate. In recent years there have been a proliferation of empirical studies based on the Keynesian approach to interest rate…more

  Download Working Paper No. 991 PDF (245.33 KB)
• Research Project Report
  July 08, 2021

  Scope and Effects of Reducing Time Deficits via Intrahousehold Redistribution of Household Production

  Ajit Zacharias, Thomas Masterson, Fernando Rios-Avila, and Abena D. Oduro
  Abstract

  Gender disparity in the division of responsibilities for unpaid care and domestic work (household production) is a central and pervasive component of inequalities between men and women and boys and…more

  Download Research Project Report, July 2021 PDF (3.95 MB)
• Working Paper No. 990
  July 02, 2021

  Ecological Fiscal Transfers and State-level Budgetary Spending in India

  Lekha S. Chakraborty, Amandeep Kaur, Ranjan Kumar Mohanty, and Divy Rangan
  Abstract

  Using panel data models, we analyze the flypaper effects—whether intergovernmental fiscal transfers or states’ own income determine expenditure commitments—on ecological fiscal spending in India. The econometric results show that the…more

  Download Working Paper No. 990 PDF (370.86 KB)
• Public Policy Brief No. 155
  June 30, 2021

  Can Biden Build Back Better?

  L. Randall Wray and Yeva Nersisyan
  Abstract

  President Biden’s proposals for investing in social and physical infrastructure signal a return to a budget-neutral policymaking framework that has largely been set aside since the outbreak of the COVID-19…more

  Download Public Policy Brief No. 155 PDF (984.38 KB)
• Strategic Analysis
  June 17, 2021

  The Pandemic, the Stimulus, and the Future Prospects for the US Economy

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

  In this report, Institute President Dimitri B. Papadimitriou and Research Scholars Michalis Nikiforos and Gennaro Zezza analyze how the US economy was affected by the pandemic and its prospects for…more

  Download Strategic Analysis, June 2021 PDF (1.64 MB)