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  Press Release

  Entrepreneur and Investor Mostafiz ShahMohammed ’97 Appointed to Levy Economics Institute Board of Governors

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  Press Release

  Longstanding Structural Problems, Including Increasing Income Inequality, Put U.S. Economy at Risk for Recession, New Levy Economics Institute Study Suggests

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  Working Paper No. 927

  Recentered Influence Functions in Stata

  Recentered influence functions (RIFs) are statistical tools popularized by Firpo, Fortin, and Lemieux (2009) for analyzing unconditional partial effects on quantiles in a regression analysis framework (unconditional quantile regressions). The flexibility and simplicity of these tools has opened the possibility of extending the analysis to other distributional statistics using linear regressions or decomposition approaches. In […]
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  Working Paper No. 926

  Fiscal Stabilization in the United States

  The debate about the use of fiscal instruments for macroeconomic stabilization has regained prominence in the aftermath of the Great Recession, and the experience of a monetary union equipped with fiscal shock absorbers, such as the United States, has often been a reference. This paper enhances our knowledge about the degree of macroeconomic stabilization achieved […]
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  One-Pager No. 59

  The Limitations of the “Populism” Explanation

  Some common accounts of “populism” and its causes risk leading us away from understanding what is happening today in parts of the democratic West, according to Senior Scholar Joel Perlmann. He cautions that economic insecurity may well be a common source of populism, but such insecurity is too prevalent and too diverse to be tied […]
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  Fed’s Bullard says economic data should improve, yield curve steepen in coming months

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  Financial market ‘pause party’ makes Fed rate cut less likely

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  Policy Notes No. 1

  A Proposal to Create a European Safe Asset

  While a consensus has formed that the eurozone’s economic governance mechanisms must be reformed, and some progress has been made on this front, what has been agreed to so far falls short of what is needed to address the central imbalances caused by the eurozone setup, according to Paolo Savona. The key elements that are […]
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  Strategic Analysis

  Can Redistribution Help Build a More Stable Economy?

  Although the ongoing recovery is about to become the longest in the history of the United States, it is also the weakest in postwar history, and as we enter the second quarter of 2019, many clouds have gathered. This Strategic Analysis considers the recent trajectory, the present state, and the future prospects of the US […]
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  Summary No. 2

  Summary Spring 2019

  This issue of the Summary features a public policy brief that considers the flaws in the eurozone’s settlement and payment system and a policy note that revisits the fall of Lehman Brothers ten years later. Working papers included in this issue discuss the construction of stock-flow-consistent models that consider the specific features of the economy they […]
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  Working Paper No. 925

  An Institutional Analysis of China’s Reform of their Monetary Policy Framework

  This paper traces the history of China’s reform of its monetary policy framework and analyzes its success and problems. In the context of financial marketization and the failure of the quantity-targeting framework, the People’s Bank of China transformed its monetary policy framework toward one that targets interest rates. The reform includes two important institutional changes: […]
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  Research Project Report

  Investing in Early Childhood Education and Care in Kyrgyz Republic

  Expansion of early childhood education and care (ECEC) services for all is a matter of the choices made regarding the allocation of public resources. As such, it is as much an issue of children’s well-being and gender equality as it is an issue of economic policy and fiscal allocation. This study—authored by Institute scholars Ipek […]