Publications

1699 publications found

• 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

  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)
• 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)
• 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

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• 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 Notes No. 4
  August 05, 2022

  Social State and Competitiveness

  Alexandra Papaisidorou and Emmanouil Karakostas
• Policy Notes 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 Notes 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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• Policy Notes No. 2
  April 22, 2022

  A Race to the Bottom

  Nikolaos Rodousakis, Vlassis Missos, and George Soklis
  Abstract

  More than a decade after the 2009 crisis, the standards of living of the Greek population are still contracting and the prospects are gloomy. In this policy note, Vlassis Missos,…more

  Download Policy Note 2022/2 PDF (661.02 KB)
• Working Paper No. 1005
  April 15, 2022

  A Prototype Regional Stock-Flow Consistent Model

  Gennaro Zezza and Francesco Zezza
  Abstract

  Starting from the seminal works of Wynne Godley (1999; Godley and Lavoie 2005, 2007a, 2007b), the literature adopting stock-flow consistent (SFC) models for two or more countries has been flourishing,…more

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• Public Policy Brief No. 157
  April 12, 2022

  Is It Time for Rate Hikes?

  L. Randall Wray and Yeva Nersisyan
  Abstract

  Roughly two years into the economic recovery from the COVID-19 crisis, the topic of elevated inflation dominates the economic policy discourse in the United States. And the aggressive use of…more

  Download Public Policy Brief No. 157 PDF (638.88 KB)
• Working Paper No. 1004
  March 18, 2022

  Financial Barriers to Structural Change in Developing Economies

  Lorenzo Nalin and Giuliano Toshiro Yajima
  Abstract

  Liabilities denominated in foreign currency have established a permanent role on emerging market firms’ balance sheets, which implies that changes in both global liquidity conditions and in the value of…more

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