Publications

1711 publications found

• Working Paper No. 833
  February 11, 2015

  Emerging Markets and the International Financial Architecture

  Jan Kregel
  Abstract

  If emerging markets are to achieve their objective of joining the ranks of industrialized, developed countries, they must use their economic and political influence to support radical change in the…more

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• Working Paper No. 832
  February 11, 2015

  Η άνοδος του χρήματος και της ταξικής κοινωνίας

  L. Randall Wray and Alla Semenova
  Abstract

  Η παρούσα εργασία διερευνά την άνοδο του χρήματος και της ταξικής κοινωνίας στην αρχαία Ελλάδα, αντλώντας ιστορικούς και θεωρητικούς παραλληλισμούς από την περίπτωση της αρχαίας Αιγύπτου. Με τον τρόπο αυτό,…more

  Download Επιστημονική εργασία υπό εξέλιξη (Working Paper) No. 832 PDF (509.38 KB)
• Working Paper No. 832
  February 11, 2015

  The Rise of Money and Class Society

  L. Randall Wray and Alla Semenova
  Abstract

  This paper explores the rise of money and class society in ancient Greece, drawing historical and theoretical parallels to the case of ancient Egypt. In doing so, the paper examines…more

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• Working Paper No. 831
  January 30, 2015

  Beyond Market Failures

  Mariana Mazzucato and Caetano C.R. Penna
  Abstract

  Recent decades witnessed a trend whereby private markets retreated from financing the real economy, while, simultaneously, the real economy itself became increasingly financialized. This trend resulted in public finance becoming…more

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• Working Paper No. 830
  January 22, 2015

  Quality of Match for Statistical Matches Using the Consumer Expenditure Survey 2011 and Annual Social Economic Supplement 2011

  Fernando Rios-Avila
  Abstract

  This paper describes the quality of the statistical match between the Current Population Survey (CPS) March 2011 supplement and the Consumer Expenditure Survey (CEX) 2011, which are used for the…more

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• Working Paper No. 829
  January 22, 2015

  Η κατάργηση του νόμου Glass-Steagall και η έκτακτη παρέμβαση του Ομοσπονδιακού Αποθεματικού κατά τη διάρκεια της παγκόσμιας χρηματοοικονομικής κρίσης

  Yeva Nersisyan
  Abstract

  Πριν από την παγκόσμια χρηματοπιστωτική κρίση επικρατούσε η αντίληψη ότι η στήριξη του δανειστή έσχατης καταφυγής περιοριζόταν στις εμπορικές τράπεζες. Ωστόσο, κατά τη διάρκεια της κρίσης, η Ομοσπονδιακή Τράπεζα των…more

  Download Επιστημονική εργασία υπό εξέλιξη (Working Paper) No. 829 PDF (456.61 KB)
• Working Paper No. 829
  January 22, 2015

  The Repeal of the Glass-Steagall Act and the Federal Reserve’s Extraordinary Intervention during the Global Financial Crisis

  Yeva Nersisyan
  Abstract

  Before the global financial crisis, the assistance of a lender of last resort was traditionally thought to be limited to commercial banks. During the crisis, however, the Federal Reserve created…more

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• Working Paper No. 828
  January 15, 2015

  Financialization and Corporate Investments

  Sunanda Sen and Zico DasGupta
  Abstract

  Financialization creates space for the financial sector in economies, and in doing so helps to raise the share of financial assets in the portfolios held by market participants. Largely driven…more

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• Working Paper No. 828
  January 15, 2015

  Η χρηματιστικοποίηση και οι εταιρικές επενδύσεις

  Sunanda Sen and Zico DasGupta
  Abstract

  Η χρηματιστικοποίηση ανοίγει χώρο στις οικονομίες για την επέκταση του χρηματοοικονομικού τομέα και, με αυτόν τον τρόπο, συμβάλλει στην αύξηση του μεριδίου των χρηματοοικονομικών περιουσιακών στοιχείων στα χαρτοφυλάκια που κατέχονται…more

  Download Επιστημονική εργασία υπό εξέλιξη (Working Paper) No. 828 PDF (814.68 KB)
• Working Paper No. 827
  January 09, 2015

  Minsky on Banking

  L. Randall Wray
  Abstract

  In this paper, I examine whether Hyman P. Minsky adopted an endogenous money approach in his early work—at the time that he was first developing his financial instability approach. In…more

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• Working Paper No. 827
  January 09, 2015

  Η προσέγγιση του Minsky για το τραπεζικό σύστημα

  L. Randall Wray
  Abstract

  Στην παρούσα εργασία διερευνούμε αν στο πρώιμο έργο του ο Hyman Minsky υιοθέτησε μια προσέγγιση του χρήματος ως ενδογενής μεταβλητή την περίοδο που ξεκινούσε την επεξεργασία της υπόθεση της χρηματοπιστωτικής…more

  Download Επιστημονική εργασία υπό εξέλιξη (Working Paper) No. 827 PDF (591.84 KB)
• Working Paper No. 826
  January 06, 2015

  Tale of Two Ginis in the United States, 1921–2012

  Markus P.A. Schneider and Daniele Tavani
  Abstract

  Following a methodology proposed by Jantzen and Volpert (2012), we use IRS Adjusted Gross Income (AGI) data for the United States (1921–2012) to estimate two Gini-like indices representing inequality at…more

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• Working Paper No. 825
  January 02, 2015

  Why Does Brazil’s Banking Sector Need Public Banks?

  Felipe Rezende
  Abstract

  The 2007–8 global financial crisis has shown the failure of private finance to efficiently allocate capital to finance real capital development. The resilience and stability of Brazil’s financial system has received…more

  Download Working Paper No. 825 PDF (1.19 MB)
• Working Paper No. 824
  January 02, 2015

  Building the Entrepreneurial State

  Mariana Mazzucato
  Abstract

  Today, countries around the world are seeking “smart” innovation-led growth, and hoping that this growth is also more “inclusive” and “sustainable” than in the past. This paper argues that such…more

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• Working Paper No. 824
  January 02, 2015

  Η οικοδόμηση του επιχειρηματικού κράτους

  Mariana Mazzucato
  Abstract

  Σήμερα, οι χώρες σε όλο τον κόσμο αναζητούν «έξυπνη» ανάπτυξη, καθοδηγούμενη από την καινοτομία, και ευελπιστούν ότι αυτή η ανάπτυξη θα είναι επίσης πιο «περιεκτική» και «βιώσιμη» από ό, τι…more

  Download Επιστημονική εργασία υπό εξέλιξη (Working Paper) No. 824 PDF (2.12 MB)
• Working Paper No. 823
  December 19, 2014

  The State and National Systems of Innovation

  Giovanna Vertova
  Abstract

  This paper starts with a review of the literature about National Systems of Innovation (NSI), by linking the origin of the concept to the evolutionary theory of the firm and…more

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• Working Paper No. 822
  December 16, 2014

  Η κοινωνικοποίηση της επένδυσης από τον Keynes στον Minsky και ακόμα πιο πέρα

  Riccardo Bellofiore
  Abstract

  Ένας συνδυασμός των ιδεών του Καρλ Μαρξ για την εργασία και του Hyman Minsky για το χρηματοοικονομικό σύστημα είναι απαραίτητη προϋπόθεση για την κατανόηση της σημερινής καπιταλιστικής πραγματικότητας και για…more

  Download Επιστημονική εργασία υπό εξέλιξη (Working Paper) No. 822 PDF (432.39 KB)
• Working Paper No. 822
  December 16, 2014

  The Socialization of Investment, from Keynes to Minsky and Beyond

  Riccardo Bellofiore
  Abstract

  An understanding of, and an intervention into, the present capitalist reality requires that we put together the insights of Karl Marx on labor, as well as those of Hyman Minsky…more

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• Working Paper No. 821
  December 12, 2014

  Outside Money

  L. Randall Wray
  Abstract

  Over the past two decades there has been a revival of Georg Friedrich Knapp’s “state money” approach, also known as chartalism. The modern version has come to be called Modern…more

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• Policy Note No. 6
  December 05, 2014

  Why Raising Rates May Speed the Recovery

  Jan Kregel
  Abstract

  Criticisms of the Federal Reserve’s “unconventional” monetary policy response to the Great Recession have been of two types. On the one hand, the tripling in the size of the Fed’s…more

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• Policy Note No. 6
  December 05, 2014

  Γιατί η αύξηση των επιτοκίων μπορεί να επιταχύνει την ανάκαμψη

  Jan Kregel
  Abstract

  Υπάρχουν δύο ειδών επικρίσεις στην «αντισυμβατική» απάντηση της νομισματικής πολιτικής του Ομοσπονδιακού Αποθεματικού (Fed) των ΗΠΑ στην πρόσφατη χρηματοπιστωτική και οικονομική κρίση (Great Recession). Από τη μια μεριά υποστηρίζεται ότι…more

  Download Σημείωμα Πολιτικής 2014/6 PDF (379.21 KB)
• Book Series
  November 30, 2014

  Contributions to Economic Theory, Policy, Development and Finance: Essays in Honor of Jan A. Kregel

  Dimitri B. Papadimitriou
  Abstract

  Levy Institute Senior Scholar Jan A. Kregel is a prominent Post-Keynesian economist. This study combines lessons drawn from events and experiences of developing countries and examines them in relation to…more

• Working Paper No. 820
  November 25, 2014

  Minsky, Monetary Policy, and Mint Street

  Srinivas Yanamandra
  Abstract

  This paper examines the emerging challenges to the art of monetary policymaking using the case study of the Reserve Bank of India (RBI) in light of developments in the Indian…more

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• Policy Note No. 5
  November 17, 2014

  Liquidity Preference and the Entry and Exit to ZIRP and QE

  Jan Kregel
  Abstract

  The Fed’s zero interest policy rate (ZIRP) and quantitative easing (QE) policies failed to restore growth to the US economy as expected (i.e., increased investment spending à la John Maynard…more

  Download Policy Note 2014/5 PDF (184.57 KB)