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BlogCan a Euro Treasury End the Crisis?
Dimitri Papadimitriou introduces Jörg Bibow’s plan for the creation of a Euro Treasury: It was only a matter of time until the euro area was hit with the kind of crisis from which it is still struggling to recover—this was understood well in advance, by many at the Levy Institute and elsewhere. The problem has always [...] -
Public Policy Brief No. 135The Euro Treasury Plan
Contrary to German chancellor Angela Merkel’s recent claim, the euro crisis is not nearly over but remains unresolved, leaving the eurozone extraordinarily vulnerable to renewed stresses. In fact, as the reforms agreed to so far have failed to turn the flawed and dysfunctional euro regime into a viable one, the current calm in financial markets […] -
Public Policy Brief No. 135
Το σχέδιο για ένα ευρω-υπουργείο Οικονομικών
Σε αντίθεση με τoν πρόσφατο ισχυρισμό της γερμανίδας καγκελαρίου Άνγκελα Μέρκελ, η ευρω-κρίση δεν έχει σχεδόν τελειώσει, αλλά παραμένει άλυτη, αφήνοντας την ευρωζώνη εξαιρετικά ευάλωτη σε ανανεωμένες πιέσεις. Στην πραγματικότητα, καθώς οι συμφωνηθέντες μεταρρυθμίσεις έχουν αποτύχει μέχρι στιγμής να μετατρέψουν τον ελαττωματικό και δυσλειτουργικό σχεδιασμό του ευρώ σε ένα βιώσιμο καθεστώς, η σημερινή ηρεμία στις […] -
Blog
A New Book on Money to Please Fans of Minsky and MMT
Opinions heard on the subject of money and the economy often seem uninformed or absurd. For a great book about money and monetary theory, I would strongly recommend Money: The Unauthorized Biography by Felix Martin, a 2014 book from Alfred A. Knopf. This book might just please students of history and finance and others who [...] -
Conference Proceedings
The Eurozone Crisis, Greece, and the Experience of Austerity
This conference was organized as part of the Levy Institute’s international research agenda and in conjunction with the Ford Foundation Project on Financial Instability, which draws on Hyman Minsky’s extensive work on the structure of financial systems to ensure stability, and the role of government in achieving a growing and equitable economy. Among the key […] -
Blog
It’s Official: Too Big to Fail Is Alive and Well
Thank heaven for Tom Hoenig, the only proven-honest central banker we’ve got. Yes, I know he’s moved on from the KC Fed to serve as Vice Chairman of the FDIC. He actually might do a lot more good over there, anyway. In recent months, we’ve heard how Wall Street’s Blood-sucking Vampire Squids have reformed themselves. [...] -
Working Paper No. 813Economic Policy in India
The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at “price stability” in the neoliberal regime, fiscal policies were characterized by the objective of maintaining “sound finance” and “austerity.” Such monetarist principles and measures have also […] -
MME, August 5, 2014
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Δ. Παπαδημητρίου: Εξαγωγικό μοντέλο «επιστημονικής φαντασίας»
Naftemporiki.gr, 5 Αυγούστου 2014: http://www.naftemporiki.gr/finance/story/839129/dpapadimitriou-eksagogiko-montelo-epistimonikis-fantasias Την πεποίθηση ότι «χωρίς μεγάλες επενδύσεις και χρηματοπιστωτική ρευστότητα σε προνομιακούς τομείς, όπως η ενέργεια και ο αγροτουρισμός, το εξαγωγικό μοντέλο ανάπτυξης στην Ελλάδα αποτελεί επιστημονική φαντασία» εκφράζει χαρακτηριστικά σε συνέντευξη στο naftemporiki.gr ο πρόεδρος του Levy Economics Institute Δημήτρης Παπαδημητρίου. Οι ελληνικές εξαγωγές κινήθηκαν ανοδικά την περίοδο 2009-2012, για […] -
Blog
Greece: A Nation for Sale and the Death of Democracy
When the European Union (EU) and the International Monetary Fund (IMF) came to Greece’s rescue in May 2010 with a 110 billion euro bailout loan in order to avoid the default of a eurozone member state (a second bailout loan worth 130 billion euros was activated in March 2012), the intentions of the rescue plan [...] -
Working Paper No. 812
Time Use of Parents in the United States
Feminist and institutionalist literature has challenged the “Mancession” narrative of the 2007–09 recession and produced nuanced and gender-aware analyses of the labor market and well-being outcomes of the recession. Using American Time Use Survey (ATUS) data for 2003–12, this paper examines the recession’s impact on gendered patterns of time use over the course of the […] -
Blog
Another Eccles at the Fed?
From time to time, I call attention to solid coverage of the Federal Reserve in the popular press, for example this post, which links to an interesting William Greider profile of Ben Bernanke. Nicholas Lemann profiles the new Fed chair in the July 21 issue of The New Yorker. One of the key themes of [...]