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Working Paper No. 912The Sources and Methods Used in the Creation of the Levy Institute Measure of Economic Well-Being for the United States, 1959–2013
August 29, 2018 This paper documents the sources of data used in the construction of the estimates of the Levy Institute Measure of Economic Wellbeing (LIMEW) for the years 1959, 1972, 1982, 1989,...more Publication -
Working Paper No. 911
Twenty Years of the German Euro Are More than Enough
August 24, 2018 This paper reviews the performance of the euro area since the euro’s launch 20 years ago. It argues that the euro crisis has exposed existential flaws in the euro regime....more Publication -
Working Paper No. 910
Australian Government Bonds’ Nominal Yields
August 21, 2018 The short-term interest rate is the main driver of the Commonwealth of Australia government bonds’ nominal yields. This paper empirically models the dynamics of government bonds’ nominal yields using the...more Publication -
Public Policy Brief No. 146Stagnating Economic Well-Being and Unrelenting Inequality
August 16, 2018 Ajit Zacharias, Thomas Masterson, and Fernando Rios-Avila update the Levy Institute Measure of Economic Well-Being (LIMEW) for US households for the period 2000–13. The LIMEW—which comprises base income, income from...more Publication -
BlogTcherneva and Wray on the Public Service Employment (PSE) Program
August 15, 2018 The job guarantee proposal fleshed out and analyzed by L. Randall Wray, Flavia Dantas, Scott Fullwiler, Pavlina Tcherneva, and Stephanie Kelton — dubbed the Public Service Employment (PSE) program — garnered a considerable amount of media attention as support for some version of a job guarantee began appearing on the agendas of various 2020 Democratic [...] Blog -
Research Project ReportThe Measurement of Time and Consumption Poverty in Ghana and Tanzania
August 08, 2018 Time constraints that stem from the overlapping domains of paid and unpaid work are of central concern to the debates surrounding the economic development of developing countries in general and...more Publication -
Working Paper No. 909
External Instability in Transition
July 02, 2018 This inquiry argues that the successful completion of the transition process in the post-Soviet economies is constrained by the prevailing social structure and low levels of technological progress, both of...more Publication -
One-Pager No. 56An Alternative to Sovereign Bond-Backed Securities for the Euro Area
June 19, 2018 The European Commission's proposal for the regulation of sovereign bond-backed securities (SBBSs) follows the release of a high-level taskforce report, sponsored by the European Systemic Risk Board, on the feasibility...more Publication -
Public Policy Brief No. 145
European Sovereign Bond-Backed Securities
June 08, 2018 In response to a proposal put forward by the European Commission for the regulation of sovereign bond-backed securities (SBBSs), Mario Tonveronachi provides his analysis of the SBBS scheme and attendant...more Publication -
Working Paper No. 908
Twenty Years after the Fall of the Berlin Wall
June 01, 2018 Many of the hopes arising from the 1989 fall of the Berlin Wall were still unrealized in 2010 and remain so today, especially in monetary policy and financial supervision. The...more Publication -
Policy Note No. 4Wage Employment and the Prospects of Women’s Economic Empowerment
May 31, 2018 In this policy note, Thomas Masterson and Ajit Zacharias address the nexus between wage employment, consumption poverty, and time deficits in the context of Ghana and Tanzania. Based on a...more Publication -
One-Pager No. 55
The Job Guarantee and the Economics of Fear
May 29, 2018 The job guarantee (JG) is finally getting the public debate it deserves, according to Pavlina R. Tcherneva, and criticism is expected. Following the Levy Institute’s latest report analyzing the economic...more Publication -
Blog
Banks, Capital Markets, and Institutional Investors as Providers of Long-Term Finance
May 29, 2018 by Felipe Rezende This is the second in a series of blog posts on financing infrastructure assets. From 1990 to 2012, the stock of global financial assets increased from $56 trillion to $225 trillion. In 2012, it included a $50 trillion stock market, $47 trillion public debt securities market, $42 trillion in financial institution bonds [...] Blog -
Blog
The Job Guarantee and the Economics of Fear: A Response to Robert Samuelson
May 25, 2018 The Job Guarantee is finally getting the public debate it deserves and criticism is expected. Building on several decades of research, the Levy Institute’s latest proposal analyzes the program’s economic impact and advances a blueprint for its implementation. Critics have taken note and are (thus far) restating the usual concerns, but with a notably alarmist [...] Blog -
Working Paper No. 907
Some Comments on the Sraffian Supermultiplier Approach to Growth and Distribution
May 17, 2018 The paper discusses the Sraffian supermultiplier (SSM) approach to growth and distribution. It makes five points. First, in the short run the role of autonomous expenditure can be appreciated within...more Publication -
Working Paper No. 906
The Dynamics of Japanese Government Bonds’ Nominal Yields
May 11, 2018 This paper employs a Keynesian perspective to explain why Japanese government bonds’ (JGBs) nominal yields have been low for more than two decades. It deploys several vector error correction (VEC)...more Publication -
Working Paper No. 905
Reflections on the New Deal
May 08, 2018 I subject some aspects of Roosevelt’s “New Deal” to critical analysis, with particular attention to what is termed “liberal democracy.” This analysis demonstrates the limits to reform, given the power...more Publication -
Blog
On the Costs of Doing Without a Job Guarantee
May 01, 2018 Pavlina Tcherneva — who, along with L. Randall Wray, Flavia Dantas, Scott Fullwiler, and Stephanie Kelton, authored this report estimating the economic impact of a job guarantee proposal (the Public Service Employment program) — was interviewed by Bloomberg’s Joe Weisenthal and Julia Chatterley about the purposes and costs of the plan. This recently released policy note [...] Blog -
Policy Note No. 3
A Consensus Strategy for a Universal Job Guarantee Program
May 01, 2018 The idea of a universal job guarantee (JG) policy for the United States has become the subject of renewed public debate due to a number of high-profile political endorsements. L....more Publication -
Working Paper No. 904
Corporate Debt in Latin America and its Macroeconomic Implications
May 01, 2018 This paper provides an empirical analysis of nonfinancial corporate debt in six large Latin American countries (Argentina, Brazil, Chile, Colombia, Mexico, and Peru), distinguishing between bond-issuing and non-bond-issuing firms, and...more Publication -
Blog
The Massive Need for Infrastructure in the Emerging and Developed World
April 26, 2018 by Felipe Rezende This is the first in a series of blog posts on financing infrastructure assets Insufficient or inadequate infrastructure in both developing and developed economies has sparked a debate about whether financing is sufficient to sustain infrastructure investment to at least keep pace with projected global GDP growth. The task of keeping the [...] Blog -
Blog
27th Annual Minsky Conference Presentations
April 19, 2018 The 27th Minsky Conference — “Financial Stability in a World of Rising Rates and the Repeal of Dodd-Frank” — just wrapped up yesterday. Anyone interested in the slide presentations can find them below: Welcome and Introduction Jan Kregel, Director of Research, Levy Institute Remarks in PDF Session 1. US AND GLOBAL ECONOMIC OUTLOOK MODERATOR: L. Randall Wray, Senior [...] Blog -
Research Project Report
Public Service Employment
April 17, 2018 Despite reports of a healthy US labor market, millions of Americans remain unemployed and underemployed, or have simply given up looking for work. It is a problem that plagues our...more Publication
