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OUT NOW: Ajit Zacharias and İpek Ilkkaracan on the Levy Institute Podcast
March 01, 2025 How can unpaid household labor be integrated into national consumption measures? Listen to the latest episode of the Levy Institute Podcast to hear Levy Scholars discuss this idea and others in a report commissioned by the BLS. News -
EventMacroeconomic Policies and Care: Exploring Intersections
Join us for our third session of the 2025 Spring Semester, with Raquel Coello Cremades, UN Women Policy Advisor on Macroeconomics and Global Care Economy Officer, on Tuesday, March 4th, from 5pm to 6pm in the Levy Conference Room at Blithewood, or on Zoom. Dr. Coello-Cremades' presentation will be followed by an open Q&A session with audience members—both those in person and on Zoom are welcome to ask questions. Event -
Working Paper No. 1077A Critical Examination of the “China Collapse” Narrative
February 11, 2025 Western media and academia have heralded the China collapse narrative. This paper provides a critical and balanced examination of the four challenges facing the Chinese economy—namely, deflation, debt, demographics, and...more Publication -
Senior Scholar L. Randall Wray gives lecture on MMT at the Instituto de Investigaciones Económicas de la UNAM
February 11, 2025 UNAM and the Fiscal and Financial Economics Seminar hosted Senior Scholar L. Randall Wray for a short course titled “Modern Money Theory: An Alternative Macroeconomic Theory.” You can now view the...more News -
NPR Marketplace with Pavlina R. Tcherneva “What to make of last week’s jobs report revisions.”
February 10, 2025 Today’s Marketplace Morning Report features Levy President Pavlina R. Tcherneva on “What to make of last week’s jobs report revisions.” Listen now to hear her insights on the current job...more News -
Event
Towards a European Job Guarantee
An installment in the Levy Institute Gender Equality and the Economy Speaker Series. Join us for this session of the 2025 Spring Semester, with Rania Antonopoulos, Senior Scholar and...more Event -
Working Paper No. 1076The Rise of the Modern Monetary System
February 07, 2025 This working paper integrates the credit money approach (associated with Post Keynesian endogenous money theory) with the state money approach (associated with Modern Money Theory) by drawing on Wray’s 1990...more Publication -
Working Paper No. 1075
The High Cost of the Strong Peso and Its Temporary Nature: The Case of Mexico
January 23, 2025 The article analyzes why exchange rate stability has been prioritized in Mexico and why the national currency has appreciated; which policies and factors have made this possible, the costs and...more Publication -
The Levy Institute Podcast with Lord Robert Skidelsky
January 21, 2025 Levy Institute President Pavlina R. Tcherneva sits down with Lord Robert Skidelsky to discuss his new book, Mindless. Their conversation spans Skidelsky’s roots in economics, his studies as biographer...more News -
Event
Discussing Labors of Love: Gender, Capitalism, and Democracy in Modern Arab Thought
An installment in the Levy Institute Gender Equality and the Economy Speaker Series. Monday, February 3rd, 5pm Blithewood Conference Room or on Zoom Join us for our first session...more Event -
EventMoney, Finance, and Economic Strategies in Fractured Times | 32nd Annual Conference
We are excited to announce that the 32nd Annual Levy Economics Institute Conference, Money, Finance, and Economic Strategies in Fractured Times, will be returning as an in-person event on Monday, June...more Event -
Policy Talks: The Climate Case for a Job Guarantee
January 15, 2025 Levy President Pavlina R. Tcherneva presented Wednesday, January 15 at at the Central European University’s Department of Public Policy. In this installment in their Policy Talks Series, Tcherneva covered the...more News -
Watch L. Randall Wray on Entrepreneur, Among Other Things
January 06, 2025 Senior Scholar L. Randall Wray discusses US Debt and its importance (or lack thereof) with Entrepreneur, Among Other Things. News -
Working Paper No. 1074
Political Conflict, Green Capabilities, and Growth Patterns in a Kaleckian Small Open Economy
December 24, 2024 The paper presents a Kaleckian extended model exploring sustainable development, defined as growth that is economically stable, socially inclusive, and environmentally respectful. The model links CO2 emission trends with public...more Publication -
Working Paper No. 1073
Frankenstein in Fact and Fiction
December 18, 2024 This paper is based on remarks delivered at the EDI Keynote Lecture at Bard College, November 19th, 2024: ‘Frankenstein in Fact and Fiction.’ View a recording of the lecture on YouTube....more Publication -
Working Paper No. 1072
Macro-Financial Models of Canadian Dollar Interest Rate Swap Yields
December 12, 2024 This paper analyzes the dynamics of Canadian dollar–denominated (CAD) interest rate swap yields. It applies autoregressive distributive lag (ARDL) models, using monthly time series data, to estimate the effects of...more Publication -
Working Paper No. 1071
Tilting at Windmills
December 10, 2024 Originally issued as EDI Working Paper No. 14, May 2023 The Central Bank of the United States, the Federal Reserve, has a dual mandate to maintain both full employment and...more Publication -
Working Paper No. 1070
Notes on Money as Technology
December 10, 2024 Originally issued as EDI Working Paper No. 20, June 2024 Scholars and affiliates of the Levy Economics Institute have long demonstrated a granular understanding of the “operations” of money, which...more Publication -
Working Paper No. 1069
Tax Credits Are Industrial Policy
December 10, 2024 Originally issued as EDI Working Paper No. 19, March 2024 The Inflation Reduction Act (IRA) is criticized for “derisking” private investment by increasing the gains to private firms. The derisking...more Publication -
Working Paper No. 1068
Monetary Power and Vulnerability to Sovereign Debt Crises
December 10, 2024 Originally issued as EDI Working Paper No. 17, March 2024 This paper challenges the prevailing view in the sovereign debt literature by arguing that sovereign debt markets, in many respects,...more Publication -
Working Paper No. 1067
Revisiting the Foreign Debt Problem and the “External Constraint” in the Periphery
December 06, 2024 Originally issued as EDI Working Paper No. 16, March 2024 Most debates and policy proposals about Global South countries’ external debt problem take for granted the view that it is...more Publication -
Working Paper No. 1066
Job Guarantee Program and the Kaleckian Dilemma
December 06, 2024 Originally issued as EDI Working Paper No. 10, November 2023 Minsky (1965) has presented the Job Guarantee program as a recommendation in the war against unemployment and poverty. Kalecki (1943),...more Publication -
Working Paper No. 1065
Resource Constraints and Economic Policy
December 06, 2024 Originally issued as EDI Working Paper No. 09, 2023 This paper explains the MMT approach for evaluating the affordability of spending programs, contrasting it with the mainstream approach. Using the...more Publication -
Working Paper No. 1064
Seismic Shifts in Economic Theory and Policy from the Bernanke Doctrine to Modern Money Theory
December 06, 2024 Originally issued as EDI Working Paper No. 08, 2022 This paper evaluates the relationship between monetary and fiscal policy and the relative effectiveness of macroeconomic stabilization through the lens of...more Publication