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Public Policy Brief No. 119August 25, 2011
Οι αντιφάσεις της εξαγωγικής ανάπτυξης
AbstractΤο μοντέλο της εξαγωγικής ανάπτυξης είναι μια αναπτυξιακή στρατηγική που στοχεύει σε αυξανόμενη παραγωγική ικανότητα εστιάζοντας στις ξένες αγορές. Κυριάρχησε προς το τέλος της δεκαετίας του ’70 και έγινε μέρος…more
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Working Paper No. 682August 19, 2011
Infinite-variance, Alpha-stable Shocks in Monetary SVAR
AbstractThis paper adumbrates a theory of what might be going wrong in the monetary SVAR literature and provides supporting empirical evidence. The theory is that macroeconomists may be attempting to…more
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Working Paper No. 681August 12, 2011
Lessons We Should Have Learned from the Global Financial Crisis but Didn’t
AbstractThis paper begins by recounting the causes and consequences of the global financial crisis (GFC). The triggering event, of course, was the unfolding of the subprime crisis; however, the paper…more
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Working Paper No. 681August 12, 2011
Μαθήματα που θα έπρεπε να παίρναμε από την παγκόσμια χρηματοοικονομική κρίση αλλά δεν το κάναμε
AbstractΗ εργασία αυτή ξεκινάει μετρώντας ξανά τα αίτια και τις συνέπειες της παγκόσμιας χρηματοοικονομικής κρίσης (ΠΧΚ). Το γεγονός που πυροδότησε την κρίση ήταν, φυσικά, το ξεδίπλωμα της κρίσης στα στεγαστικά…more
Download Επιστημονική Εργασία υ̟πό Εξέλιξη (Working Paper) No. 681 PDF (368.36 KB) -
One-Pager No. 12August 11, 2011
Not Your Father’s Recession
AbstractPresident Dimitri B. Papadimitriou and Research Scholar Greg Hannsgen make the case that the recession has turned into a prolonged and very unusual slump in growth, preventing a labor-market recovery—and…more
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One-Pager No. 12August 11, 2011
Δεν πρόκειται για τη συνηθισμένη ύφεση
AbstractΟ πρόεδρος Δημήτρης Β. Παπαδημητρίου και ο Μελετητής Έρευνας Greg Hannsgen επιχειρηματολογούν ότι η οικονομική υποχώρηση έχει μετατρα̟πεί σε μια παρατεταμένη και πολύ ασυνήθιστη κάμψη της ανάπτυξης, αποτρέποντας μια ανάκαμψη…more
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One-Pager No. 11August 05, 2011
Investing in Social Care Delivery
AbstractThere is little mystery to explaining our current high levels of unemployment. The Bureau of Economic Analysis recently revised its figures on GDP growth, and revealed that not only was…more
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Working Paper No. 680July 26, 2011
The Levy Institute Measure of Economic Well-Being: Estimates for Canada, 1999 and 2005
AbstractThis report presents estimates of the Levy Institute Measure of Economic Well-Being (LIMEW) for a representative sample of Canadian households in 1999 and 2005. The results indicate that there was…more
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Working Paper No. 679July 25, 2011
The Levy Institute Measure of Economic Well-Being, France, 1989 and 2000
AbstractWe construct estimates of the Levy Institute Measure of Economic Well-Being for France for the years 1989 and 2000. We also estimate the standard measure of disposable cash income (DI)…more
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Working Paper No. 678July 25, 2011
What Ended the Great Depression?
AbstractConventional wisdom contends that fiscal policy was of secondary importance to the economic recovery in the 1930s. The recovery is then connected to monetary policy that allowed non-sterilized gold inflows…more
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Working Paper No. 677July 18, 2011
The Global Crisis and the Remedial Actions
AbstractThe global financial crisis has now spread across multiple countries and sectors, affecting both financial and real spheres in the advanced as well as the developing economies. This has been…more
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Working Paper No. 676July 18, 2011
Quality of Match for Statistical Matches Used in the 1989 and 2000 LIMEW Estimates for France
AbstractThe quality of match for each of four statistical matches used in the LIMEW estimates for France for 1989 and 2000 is described. The first match combines the 1992 Enquête…more
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Working Paper No. 675July 18, 2011
The Rise and Fall of Export-led Growth
AbstractThis paper traces the rise of export-led growth as a development paradigm and argues that it is exhausted owing to changed conditions in emerging market (EM) and developed economies. The…more
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Working Paper No. 674July 05, 2011
Institutional Prerequisites of Financial Fragility within Minsky’s Financial Instability Hypothesis
AbstractThe relevancy of Minsky’s Financial Instability Hypothesis (FIH) in the current (and still unfolding) crisis has been clearly acknowledged by both economists and regulators. While most papers focus on discussing…more
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One-Pager No. 10June 21, 2011
Will the Recovery Continue?
AbstractWith quantitative easing winding down and the latest payroll tax-cut measures set to expire at the end of this year, pressing questions loom about the current state of the US…more
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Working Paper No. 673June 13, 2011
Effective Demand in the Recent Evolution of the US Economy
AbstractWe present strong empirical evidence favoring the role of effective demand in the US economy, in the spirit of Keynes and Kalecki. Our inference comes from a statistically well-specified VAR…more
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Working Paper No. 672May 27, 2011
Income Distribution in a Monetary Economy
AbstractThe paper provides a novel theory of income distribution and achieves an integration of monetary and value theories along Ricardian lines, extended to a monetary production economy as understood by…more
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Working Paper No. 671May 19, 2011
Public Job-creation Programs: The Economic Benefits of Investing in Social Care
AbstractThis paper demonstrates the strong impacts that public job creation in social care provisioning has on employment creation. Furthermore, it shows that mobilizing underutilized domestic labor resources and targeting them…more
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Working Paper No. 670May 18, 2011
The Product Space
AbstractIn this paper we look at the economic development of Sub-Saharan Africa (SSA) in the context of structural transformation. We use Hidalgo et al.’s (2007) concept of product space to show the…more
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One-Pager No. 9May 17, 2011
Did Problems with SSDI Cause the Output-Jobs Disconnect?
AbstractThe slow recovery of the job market after the recessions of 2001 and 2007–09 has fostered concerns that the link between output growth and job creation has been severed. Between…more
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Working Paper No. 669May 17, 2011
Race, Power, and the Subprime/Foreclosure Crisis
AbstractEconomists’ principal explanations of the subprime crisis differ from those developed by noneconomists in that the latter see it as rooted in the US legacy of racial/ethnic inequality, and especially…more
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Policy Notes No. 4May 12, 2011
Was Keynes’s Monetary Policy, Ã Outrance in the Treatise, a Forerunnner of ZIRP and QE? Did He Change His Mind in the General Theory?
AbstractAt the end of 1930, as the 1929 US stock market crash was starting to have an impact on the real economy in the form of falling commodity prices, falling…more
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Policy Notes No. 4May 12, 2011
Μια ανάλυση της εξέλιξης των απόψεων του Κέινς για τη νομισματική πολιτική—από τη «Πραγματεία για το Χρήμα» στη «Γενική Θεωρία»
AbstractΠρος το τέλος του 1930, καθώς το κραχ του Χρηματιστηρίου της Νέας Υόρκης το 1929 είχε αρχίσει να έχει αντίκτυπο στην πραγματική οικονομία των ΗΠΑ πτώση στις τιμές των εμπορευμάτων,…more
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Policy Notes No. 3May 12, 2011
A Modest Proposal for Overcoming the Euro Crisis
AbstractThis “Modest Proposal” by authors Varoufakis and Holland outlines a three-pronged, comprehensive solution to the eurozone crisis that simultaneously addresses the three main dimensions of the current crisis in the…more
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