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Working Paper No. 1091
Banking on Payments?
For the past hundred years or more, payments have been primarily associated with banking, and banking as we know it today—being the result of many centuries of evolution—features a bundling of (at least) three main lines of business: lending, deposit-taking, and payment services. In the past 15 years or so, banks have come under severe […] -
Event
Welcome to Levy Economics: What It Is and Why It Matters | James K. Galbraith
In this virtual discussion, Senior Scholar James K. Galbraith (University of Texas at Austin & Levy Economics Institute) will explore a powerful idea: how the tools of economics shape the economic world itself. He will introduce the Institute’s distinctive approach to providing and shaping a critical alternative to the mainstream. Drawing on decades of work with the Institute, […] -
Blog
Climate Catastrophe and the Second Coming
Back in the early 2000s, financial market participants would wisecrack that unlikely events that should happen once in 10,000 years were occurring every month. We know where that led—to the Global Financial Crisis. Everything crashed. The Fed had to spend and lend $29 trillion to bail out the world’s financial system. It took economies a [...] -
Policy Notes
The USMCA Is Not Competitive Against China
The governments of the US and Canada are pressuring Mexico not to import products or accept investments from China, such that Mexico would be forced to import products from them instead. As a result, Mexico would be unable to leverage Chinese investments that could compromise the interests of the US and Canada. The Mexican government […] -
Watch President Pavlina Tcherneva on C-SPAN: “Labor Market Dislocations and the Impact of Climate Change”
On Monday, August 18, Levy President Pavlina R. Tcherneva appeared on C-SPAN along with Representative Sean Casten (D-IL) and other experts during the segment hosted by Public Citizen, titled “Heat & Human Capital: How Climate Change Shapes Labor and the Fed’s Mandate Prior Jackson Hole Economic Policy Symposium.” The briefing highlighted the relevance of climate change […] -
Working Paper No. 1090
Education and Economic Isolation
This study examines the impact of the Gaza blockade on private returns to education, with a focus on regional and gender disparities in the Palestinian territories. Using data from the Palestinian Labor Force Survey (2000–2014). Results show that, generally, education yields higher returns in Gaza compared to the West Bank. Gender disparities are pronounced, with […] -
Event
The Importance of Official Data in Assessing Economic Conditions | Erika McEntarfer
After a tumultuous week that saw President Trump question the integrity of one of the most widely used government data sources, the Levy Institute is pleased to welcome the recently removed BLS Commissioner Erika McEntarfer (and Bard College alumna ’95), to a conversation about why data—and measurement in particular—matter for policy, markets, and our daily […] -
Event
Levy Graduate Programs Information Session August 22nd
Thinking about graduate school in economics? The Levy Institute programs in economic theory and policy may be just the transformative experience you’re looking for. Our info sessions provide an overview of the Levy academic programs, student life, admission requirements, enrollment steps, financial aid procedures, and immigration requirements for international students. Learn more, August 22nd at […] -
Blog
Seminar on Modern Monetary Theory and Launch of New Macroeconomics
On July 19, 2025, the Seminar on Modern Monetary Theory and the Launch of New Macroeconomics was held in the main hall of the Mingde Building (明德楼) at Renmin University (人民大学)of China. The event was jointly hosted by the School of Economics at Renmin University, the Central Compilation and Translation Press, and the Ministry of [...] -
Levy Institute Collaboration with University of Ghana and Stellenbosch on “Gendered Aspects of Economic Security” in Cape Town
With support from the William & Flora Hewlett Foundation and in collaboration with the University of Ghana and Stellenbosch Business School, the Levy Institute is holding “Gendered Aspects of Economic Security,” a three-session forum and workshop focused on women’s labor market frameworks. The event will be held in Cape Town, South Africa on August 15, […] -
Working Paper No. 1089
Rising Temperatures, Falling Yields: The Effect of Climate Shocks on Olive Oil Production in Palestine
This study investigates the effect of climate shocks on olive oil production in Palestine, a region acutely vulnerable to both environmental change and political instability. We estimate the influences of temperature and rainfall fluctuations on four key outcomes: the olive-to-oil yield ratio, extracted oil quantity, cultivated olive volume, and olive oil prices. Our findings reveal […] -
President Pavlina R. Tcherneva weighs in on recent BLS report: “It wasn’t terribly surprising”
Listen to the perspectives from Levy President Pavlina R. Tcherneva and other economists regarding recent labor market statistics as reported in Friday’s BLS jobs report. You can hear the report by Marketplace and Daniel Ackerman at the link below.