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233 results found, searching for 'WA 0859 3970 0884 Rencana Anggaran Biaya Renovasi Rumah Minimalis Modern Melebar Ke Samping Paranggupito Wonogiri'
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Working Paper No. 1063Fiscal and Monetary Policy in an SFC Model of the Italian Economy
December 03, 2024 Following the Great Financial Crisis of 2008–9, there has been a shift in mainstream economic policy modeling toward “realism,” with dynamic stochastic general equilibrium (DSGE) models partly diverging from the...more Publication -
Working Paper No. 1062
The Value of Money
December 03, 2024 This paper examines heterodox theories of the determinants of the value of money. Orthodox approaches that tie money’s value to relative scarcity of money or to the price level are...more Publication -
Working Paper No. 1061
Modern Money Theory on Fiscal and Monetary Policies
November 26, 2024 Originally issued as EDI Working Paper No. 04, 2022 Drumetz and Pfister make several claims about the inadequacy and fallacies of Modern Money Theory (MMT) and conclude that MMT is...more Publication -
Working Paper No. 1060
The Job Guarantee
November 26, 2024 Originally issued as EDI Working Paper No. 02, 2022 Orthodox economic theory presents the policy maker with an impossible choice: eradicate unemployment at the cost of undesirable inflation or keep...more Publication -
Working Paper No. 1058
The Origins of the Platonic Approach to Monetary Systems
November 20, 2024 A monetary approach that combines Chartalism, Nominalism, and Command origins of monetary systems is often deemed to have emerged only recently, while the Aristotelian approach (Commodity, Metallism, and Market origins...more Publication -
Wray on DemystifySci: “Tally Sticks, Central Banks, Evolution of Money”
October 06, 2024 Listen to Senior Scholar L. Randall Wray on Demystify Sci Podcast #288. L. Randall Wray is a long-term proponent of Modern Monetary Theory, a heterodox macroeconomic theory that teaches that the government should not worry about accruing debt, because it is always able to print more money to service that debt. News -
Now Available Worldwide: Finding the Money
October 03, 2024 Now available worldwide, Finding the Money explores ideas and principles of MMT, following Scholar Stephanie Kelton. The documentary features other Levy Scholars, including L. Randall Wray, Matthew Forstater, Fadhel Kaboub, Pavlina R....more News -
New Scholarship in Institutional Economics
September 26, 2024 The Scholarship in Institutional Economics, established in memory of John F. Henry, is awarded to a student interested in research in political economy, historical and evolutionary analysis of modern market economies, and...more News -
Working Paper No. 1055
The Relation Between Budget Deficits and Growth: Complicated but Clear
September 18, 2024 This paper looks at the relationship between government budget deficits and the growth rate of GDP. While orthodox economic theory offers several reasons to believe that growing deficits might be...more Publication -
The Levy Institute Welcomes Pavlina R. Tcherneva as Incoming President
July 01, 2024 The Levy Economics Institute of Bard College welcomes Pavlina R. Tcherneva as its next president, succeeding Dimitri B. Papadimitriou, who has held the role since 1986. “After thirty-eight years as...more News -
One-Pager No. 72If Government Can Print Money, Why Does It Borrow?
May 10, 2024 Recently, the neglected question of why the US government borrows, given that it can print money, has arisen in the context of discussions surrounding a new documentary, Finding the Money. As L. Randall Wray observes in this one-pager, Modern Money Theory has been providing answers to this question for some time; and, he argues, it is a topic that mainstream economists are ill-equipped to address, since very few concern themselves with the monetary operations that underlie the question of why a currency-issuing government issues debt. Publication -
BlogWhatever It Takes: How Neoliberalism Hijacked the Public Purse
March 01, 2024 Originally appeared on Levy-affiliated project, the Economic Democracy Initiative. The spectacular government spending post-2008 and post-2020 appeared to upend the neoliberal logic of the past decades, enabling bold public action and opening the door to a more just and democratic social order. Specific policy choices stamped out this opportunity. These pivotal moments did, however, point [...] Blog -
Working Paper No. 1025
Unconventional Monetary Policy or Automatic Stabilizers?
August 01, 2023 The purpose of public policy, expansionary or contractionary, is to encourage the expansion of income, output, and employment. Theory decides the nature and kind of policy, and the underlying mechanics...more Publication -
Strategic AnalysisWill the US Debt Ceiling Deal Derail the Pandemic Recovery?
July 20, 2023 In this Strategic Analysis, Dimitri B. Papadimitriou, Michalis Nikiforos, Giuliano T. Yajima, and Gennaro Zezza discuss how the current state and structural features of the US economy might affect its...more Publication -
Working Paper No. 1010
Reflections on Angela Merkel’s Career as Chancellor of Germany and the Greek Financial Odyssey
September 06, 2022 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 Publication -
One-Pager No. 69Time to Celebrate Modern Money Theory?
February 21, 2022 A recent article in the New York Times asks whether Modern Money Theory (MMT) can declare victory after its policies were (supposedly) implemented during the response to the COVID-19 pandemic....more Publication -
BlogJoin Us for the 2022 Levy Institute Summer Seminar
January 11, 2022 The Levy Economics Institute of Bard College is pleased to announce it will be holding a summer seminar June 11–18, 2022. Through lectures, hands-on workshops, and breakout groups, the seminar will provide an opportunity to engage with the theory and policy of Modern Money Theory (MMT) and the work of Institute Distinguished Scholars Hyman Minsky [...] Blog -
Working Paper No. 996
Seven Replies to the Critiques of Modern Money Theory
December 13, 2021 Modern Money Theory (MMT) has generated considerable scrutiny and discussions over the past decade. While it has gained some acceptance in the financial sector and among some politicians, it has...more Publication -
BlogAre Concerns over Growing Federal Government Debt Misplaced?
November 10, 2021 If the global financial crisis (GFC) of the mid-to-late 2000s and the COVID crisis of the past couple of years have taught us anything, it is that Uncle Sam cannot run out of money. During the GFC, the Federal Reserve lent and spent over $29 trillion to bail out the world’s financial system,[1] and then [...] Blog -
Working Paper No. 992
Modeling Monopoly Money
August 31, 2021 Many of the claims put forth by Modern Monetary Theory (MMT) center around the state’s monopoly over its own currency. In this paper I interrogate the plausibility of two claims:...more Publication -
Working Paper No. 985
Has Japan Been Following Modern Money Theory Without Recognizing It?
February 08, 2021 Modern Money Theory (MMT) economists have used Japan as an example of a country that demonstrates that high deficits and debt do not lead to insolvency, high interest rates, or...more Publication -
Blog
Jiu-Jitsu Comes to the Stock Market
January 29, 2021 The core philosophy of this Japanese defensive art used by the weak against the stronger Samurai is to mobilize the opponent’s greater force to your own advantage. Many have criticized the run-up in the quotation of the GameStop shares as a violation of market principles or regulations. Far from it, it simply represents the fact [...] Blog -
Working Paper No. 982
The Economic Problem: From Barter to Commodity Money to Electronic Money
January 24, 2021 The success of alternative payment systems has led to discussion of various proposals to replace money with a new technology-based system, though many lack a clear idea of what exactly...more Publication -
Working Paper No. 974
The General Theory as “Depression Economics”?
October 05, 2020 This paper revisits Keynes’s writings from Indian Currency and Finance (1913) to The General Theory (1936) with a focus on financial instability. The analysis reveals Keynes’s astute concerns about the...more Publication