Publications

1711 publications found

• One-Pager No. 40
  September 04, 2013

  The Fed Rates that Resuscitated Wall Street

  Nicola Matthews
  Abstract

  Nicola Matthews, University of Missouri–Kansas City, presents the main findings of her research on the Fed’s lending practices following the global financial crisis of 2008. Applying Walter Bagehot’s principles, she…more

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• Working Paper No. 773
  August 29, 2013

  Keynes’s Employment Function and the Gratuitous Phillips Curve Disaster

  Egmont Kakarot-Handtke
  Abstract

  Keynes had many plausible things to say about unemployment and its causes. His “mercurial mind,” though, relied on intuition, which means that he could not strictly prove his hypotheses. This…more

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• Working Paper No. 772
  August 29, 2013

  Ο επαναπροσανατολισμός της δημοσιονομικής πολιτικής

  Pavlina R. Tcherneva
  Abstract

  Στην παρούσα εργασία επιχειρείται η κριτική της δημοσιονομικής πολιτικής όπως εμφανίζεται στη θεωρία και εφαρμόζεται στην πράξη. Συγκεκριμένα, εξετάζονται δύο μέθοδοι σταθεροποίησης από την πλευρά της ζήτησης: η συμβατική δαπάνη…more

  Download Επιστημονική Εργασία υπό Εξέλιξη No. 772 PDF (688.57 KB)
• Working Paper No. 772
  August 29, 2013

  Reorienting Fiscal Policy

  Pavlina R. Tcherneva
  Abstract

  The present paper offers a fundamental critique of fiscal policy as it is understood in theory and exercised in practice. Two specific demand-side stabilization methods are examined here: conventional pump…more

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• Policy Note No. 8
  August 01, 2013

  «Ασυνήθιστες και επείγουσες συνθήκες»: Τρόποι με τους οποίους μπορεί η Fed να τονώσει την πραγματική οικονομία

  William Greider
  Abstract

  Αν και δεν είναι ευρέως κατανοητό, η Ομοσπονδιακή Τράπεζα των ΗΠΑ (Fed) διαθέτει τεράστια ανεκμετάλλευτη δύναμη για να τονώσει άμεσα την οικονομία ή να επηρεάσει τις ροές του δανεισμού και…more

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• Policy Note No. 8
  August 01, 2013

  “Unusual and Exigent”: How the Fed Can Jump-start the Real Economy

  William Greider
  Abstract

  Though it is not widely understood, the Federal Reserve has enormous untapped power to directly stimulate or influence the flows of lending and spending that generate jobs. Doing so would…more

  Download Policy Note 2013/8 PDF (200.54 KB)
• Policy Note No. 7
  August 01, 2013

  Ελάφρυνση του χρέους και η ισχύς της Ομοσπονδιακής Τράπεζας στη διαδικασία της δημιουργίας χρήματος

  William Greider
  Abstract

  Η νομισματική πολιτική έχει ξεμείνει από καύσιμα. Πριν από έξι χρόνια, η απάντηση της Ομοσπονδιακής Τράπεζας (Fed) στην χρηματοοικονομική κρίση ήταν τρομερή: Δημιούργησε τρισεκατομμύρια δολάρια και πλημμύρισε το σύστημα με…more

  Download Σημείωμα Πολιτικής 2013/7 PDF (429.80 KB)
• Policy Note No. 7
  August 01, 2013

  Debt Relief and the Fed’s Money-creation Power

  William Greider
  Abstract

  Monetary policy is running out of gas. Six years ago, in the heat of crisis, the Federal Reserve’s response was awesome. The Fed created trillions of dollars and flooded the…more

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• Working Paper No. 771
  August 01, 2013

  Foreign and Public Deficits in Greece

  Michalis Nikiforos, Laura Carvalho, and Christian Schoder
  Abstract

  This paper analyzes the trajectories of the Greek public deficit and sovereign debt over the last three decades and their connection to the political and economic environment, paying special attention…more

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• Working Paper No. 771
  August 01, 2013

  Εξωτερικά και κρατικά ελλείμματα στην Ελλάδα

  Michalis Nikiforos, Laura Carvalho, and Christian Schoder
  Abstract

  Η εργασία εξετάζει την πορεία των κρατικών ελλειμμάτων και του δημόσιου χρέους στην Ελλάδα κατά τη διάρκεια των τελευταίων τριών δεκαετιών και τη σύνδεσή τους με το πολιτικό και οικονομικό…more

  Download Επιστημονική Εργασία υπό Εξέλιξη (Working Paper) No. 771 PDF (1.86 MB)
• Working Paper No. 770
  July 31, 2013

  Uncertainty and Contradiction

  Michalis Nikiforos
  Abstract

  This paper presents a discussion of the forces at play behind the economic fluctuations in the medium run and their relation with the short-run macroeconomic equilibrium. The business cycle is…more

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• One-Pager No. 39
  July 24, 2013

  The Impact of a Path to Citizenship on the US Economy and Social Insurance System

  Selçuk Eren
  Abstract

  Comprehensive immigration reform has long eluded Congress. Although the Senate recently passed a bill—S. 744, or the Border Security, Economic Opportunity, and Immigration Modernization Act—that would take significant steps toward…more

  Download One-Pager No. 39 PDF (77.05 KB)
• Working Paper No. 769
  July 19, 2013

  Quality of Statistical Match and Simulations Used in the Estimation of the Levy Institute Measure of Time and Consumption Poverty (LIMTCP) for Turkey in 2006

  Thomas Masterson
  Abstract

  The quality of match of the statistical match used in the Levy Institute Measure of Time and Consumption Poverty (LIMTCP) estimates for Turkey in 2006 is described. The match combines…more

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• Working Paper No. 768
  July 02, 2013

  Evaluating the Gender Wage Gap in Georgia, 2004–2011

  Tamar Khitarishvili
  Abstract

  This paper evaluates the gender wage gap among wage workers along the wage distribution in Georgia between 2004 and 2011, based on the recentered influence function (RIF) decomposition approach developed…more

  Download Working Paper No. 768 PDF (999.00 KB)
• Working Paper No. 767
  June 21, 2013

  Germany and the Euroland Crisis

  Jörg Bibow
  Abstract

  This paper investigates Germany’s vulnerability to the ongoing Euroland crisis. In 2010–11, Germany experienced a strong rebound from the global financial crisis of 2008–09. The Euroland crisis then meant record…more

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• Working Paper No. 767
  June 21, 2013

  Η Γερμανία και η κρίση στην ευρωζώνη

  Jörg Bibow
  Abstract

  Η εργασία αυτή διερευνά την ευπάθεια της Γερμανίας στη συνεχιζόμενη κρίση της ευρωζώνης. Την περίοδο 2010–11, η Γερμανία ανέκαμψε από την παγκόσμια οικονομική κρίση του 2008-09. Η κρίση της ευρωζώνης…more

  Download Επιστημονική εργασία υπό εξέλιξη (Working Paper) No. 767 PDF (4.03 MB)
• Working Paper No. 766
  June 11, 2013

  Heterodox Shocks

  Abstract

  Should shocks be part of our macro-modeling tool kit—for example, as a way of modeling discontinuities in fiscal policy or big moves in the financial markets? What are shocks, and…more

  Download Working Paper No. 766 PDF (328.13 KB)
• One-Pager No. 38
  June 05, 2013

  Financial Reform and the London Whale

  Jan Kregel
  Abstract

  The recent report by the Senate Permanent Subcommittee on Investigations on the operations of JPMorgan Chase’s Synthetic Credit Portfolio unit—aka the London Whale—has brought renewed attention to the risks of…more

  Download One-Pager No. 38 PDF (66.38 KB)
• One-Pager No. 38
  June 05, 2013

  Χρηματοοικονομική μεταρρύθμιση και η «φάλαινα του Σίτι»

  Jan Kregel
  Abstract

  Η πρόσφατη έκθεση της μόνιμης υποεπιτροπής της αμερικανικής Γερουσίας για τις έρευνες σχετικά με τις δραστηριότητες της μονάδας Συνθετικού Χαρτοφυλακίου Πιστοδοτήσεων της JPMorgan Chase, που είναι επίσης γνωστή ως η…more

  Download Μονοσέλιδο No. 38 PDF (230.47 KB)
• Working Paper No. 765
  May 14, 2013

  The Economic Crisis of 2008 and the Added Worker Effect in Transition Countries

  Tamar Khitarishvili
  Abstract

  Following the financial crisis of 2008, transition countries—the economies of Central and Eastern Europe and the former Soviet Union—experienced an increase in female labor force participation rates and a decrease…more

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• Working Paper No. 764
  May 10, 2013

  Modeling the Housing Market in OECD Countries

  Philip Arestis and Ana Rosa González
  Abstract

  Recent episodes of housing bubbles, which occurred in several economies after the burst of the United States housing market, suggest studying the evolution of housing prices from a global perspective….more

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• Policy Note No. 5
  May 07, 2013

  The New Rome

  C. J. Polychroniou
  Abstract

  The European Union (EU) is a treaty-based organization that was set up after World War II as a means of putting an end to a favorite practice of the Europeans:…more

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• Working Paper No. 763
  May 07, 2013

  The Problem of Excess Reserves, Then and Now

  Walker F. Todd
  Abstract

  This working paper looks at excess reserves in historical context and analyzes whether they constitute a monetary policy problem for the Federal Reserve System (the “Fed”) or a potentially inflationary…more

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• Working Paper No. 763
  May 07, 2013

  Το πρόβλημα με τα πλεονάζοντα αποθεματικά στο παρελθόν και σήμερα

  Walker F. Todd
  Abstract

  Η παρούσα εργασία εξετάζει από ιστορικό πλαίσιο τα πλεονάζοντα αποθεματικά και αναλύει αν αποτελούν πρόβλημα νομισματικής πολιτικής για την Ομοσπονδιακή Τράπεζα των ΗΠΑ (Fed) ή ένα ενδεχομένως πληθωριστικό πρόβλημα για…more

  Download Επιστημονική εργασία υπό εξέλιξη (Working Paper) No. 763 PDF (457.17 KB)