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Working Paper No. 790Changes in Global Trade Patterns and Women’s Employment in Manufacturing
The purpose of this study is to explore the employment effects of changes in manufacturing output resulting from shifting trade patterns over the period 1995–2006. For 30 countries (21 OECD and 9 non-OECD countries) we estimate the changes in embodied labor content due to trade using factor-content analysis, breaking up the sources of these changes […] -
BlogWhen Will They Ever Learn: Uncle Sam is not Robin Hood
Memo to Obama: Don’t tie progressive spending policy to progressive tax policy. Each can stand on its own. Reported today in the Washington Post: Obama proposes $600 billion in new spending to boost economy President Obama on Tuesday unveiled an ambitious budget that promised more than $600 billion in fresh spending to boost economic growth [...] -
Working Paper No. 789
Full Employment
It is common knowledge that John Maynard Keynes advocated bold government action to deal with recessions and unemployment. What is not commonly known is that modern “Keynesian policies” bear little, if any, resemblance to the policy measures Keynes himself believed would guarantee true full employment over the long run. This paper corrects this misconception and […] -
Working Paper No. 789
Πλήρης Απασχόληση
Είναι κοινώς γνωστό ότι ο John Maynard Keynes υπήρξε ο βασικός υποστηρικτής του κρατικού παρεμβατισμού για την αντιμετώπιση της ύφεσης και της ανεργίας. Αυτό που δεν είναι ευρέως γνωστό είναι ότι οι σύγχρονες «κεϋνσιανές πολιτικές» δεν έχουν τίποτα το κοινό με τα μέτρα πολιτικής που ο ίδιος ο Keynes θεωρούσε απαραίτητα για την επίτευξη της […] -
Working Paper No. 788
Modern Money Theory and Interrelations between the Treasury and the Central Bank
One of the main contributions of Modern Money Theory (MMT) has been to explain why monetarily sovereign governments have a very flexible policy space that is unconstrained by hard financial limits. Not only can they issue their own currency to pay public debt denominated in their own currency, but they can also easily bypass any […] -
Blog
On German Public Opinion and Illusory ECB Power
After taking a short breather in late January-early February, the markets now seem to be back in “happy mode.” Whether the news on the economic recovery is good or bad doesn’t really matter. The current convention is that growth acceleration is under way. That emerging markets had become key drivers of global growth was yesterday’s [...] -
Press ReleaseGreek Unemployment Will Surge Toward 30 Percent by 2015 with Continuation of Austerity Policies, New Levy Study Says.
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Blog
Seeing “It” Coming: An Interview on the Global Financial Crisis and Euroland’s Fatal Flaw
I recently did an interview for the magazine “Synchrona Themata” (“Contemporary Issues”). The interview, which will appear in Greek, was conducted by Christos Pierros, doctoral student at the University of Athens Doctoral Program in Economics (UADPhilEcon). What follows is the English transcript: What do you think went wrong in 2008? Why was standard macro theory [...] -
MME, February 19, 2014
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Αμερικανικό think tank έχει έτοιμο εναλλακτικό νόμισμα για την Ελλάδα -Και το όνομα αυτού «Geuro»
Iefimerida, 19 Φεβρουαρίου 2014. Με επιφύλαξη παντός δικαιώματος. Τέσσερα εναλλακτικά σενάρια για την επιστροφή της Ελλάδας στην ανάπτυξη και την ενίσχυση της απασχόλησης προτείνει το Levy Economics Institute του Bard College, σε έκθεσή του, υπό τον τίτλο «Strategic Analysis – Prospects and Policies for the Greek economy». Μεταξύ των προτάσεών του, είναι και η υιοθέτηση […] -
MME, February 18, 2014
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Capital.gr: Οι εναλλακτικές για να “πάρει μπροστά” η ελληνική οικονομία
Capital.gr, 18 Φεβρουαρίου 2014. Με επιφύλαξη παντός δικαιώματος.