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Working Paper No. 894An Inquiry Concerning Long-term US Interest Rates Using Monthly Data
August 04, 2017 This paper undertakes an empirical inquiry concerning the determinants of long-term interest rates on US Treasury securities. It applies the bounds testing procedure to cointegration and error correction models within...more Publication -
Working Paper No. 893
The Neoclassicals’ Conundrum
July 26, 2017 Neoclassical economists of the current era frequently pay lip service to Adam Smith’s theories to certify the validity of natural-laws-based, laissez-faire policies. However, neoclassical theories are fundamentally disconnected from Adam...more Publication -
Policy Note No. 3Why the Compulsive Shift to Single Payer?
July 21, 2017 The growing political momentum for a universal single-payer healthcare program in the United States is due in part to Republican attempts to repeal and replace the Affordable Care Act (Obamacare)....more Publication -
BlogThe “German Problem” Is Not a Problem for Anyone to Worry About. Or Is It?
July 19, 2017 It took a very long time. Too long. But just in time for the recent G20 meeting in Hamburg on July 7-8, The Economist’s cover page story featured Germany’s persistent current account surpluses as the world community’ new “German problem”; supposedly an issue of foremost interest to the G20. In fact, Germany has run up [...] Blog -
Policy Note No. 2
The Concert of Interests in the Age of Trump
July 07, 2017 If the Trump administration is to fulfill its campaign promises to this age’s “forgotten” men and women, Director of Research Jan Kregel argues, it should embrace the broader lesson of...more Publication -
Working Paper No. 892
Understanding Financialization
June 21, 2017 Since the death of Hyman Minsky in 1996, much has been written about financialization. This paper explores the issues that Minsky examined in the last decade of his life and...more Publication -
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Blog
Why Macron Should Not (and Cannot) Follow the German Model
June 02, 2017 The Economist‘s analysis of Germany’s job market miracle of the past ten years offered in “What the German economic model can teach Emmanuel Macron” is more balanced than the usual accounts one hears in Germany itself. Germans are in love with the idea that structural reform of their labor market and persistent budgetary austerity were [...] Blog -
Working Paper No. 891
Stock-flow Consistent Macroeconomic Models
May 24, 2017 The stock-flow consistent (SFC) modeling approach, grounded in the pioneering work of Wynne Godley and James Tobin in the 1970s, has been adopted by a growing number of researchers in...more Publication -
Working Paper No. 890
On the Centrality of Redemption
May 15, 2017 The paper presents a financial approach to monetary analysis that links the credit and state theories of money. A premise of the functional approach to money is that “money is...more Publication -
EBRD Sees “Enormous Opportunities” in Greece
May 11, 2017 DimitrI B. Papadimitrio comments on the economic outlook for Greece; estimates 2% growth in 2017. News -
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Working Paper No. 889
The Dynamics of Government Bond Yields in the Eurozone
May 08, 2017 This paper investigates the determinants of nominal yields of government bonds in the eurozone. The pooled mean group (PMG) technique of cointegration is applied on both monthly and quarterly datasets...more Publication -
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Blog
On the Concert of Interests and Unlearning the Lessons of the 1930s
April 20, 2017 Jan Kregel opened this year’s Minsky Conference (which just wrapped up yesterday) with a reminder that the broader public challenges we face today are still in many ways an echo of those that faced the nation in 1930s. What follows is an abridged version of those remarks: This year’s conference takes place in an increasingly charged and divisive [...] Blog -
Working Paper No. 888
Gender, Socioeconomic Status, and Time Use of Married and Cohabiting Parents during the Great Recession
April 20, 2017 Using data from the 2003–14 American Time Use Survey (ATUS), this paper examines the relationship between the state unemployment rate and the time that opposite-sex couples with children spend on...more Publication -
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Live stream from the 26th Annual Hyman P. Minsky Conference
April 18, 2017 Live coverage of the Minsky ConferencE News -
Strategic AnalysisThe Trump Effect: Is This Time Different?
April 14, 2017 From a macroeconomic point of view, 2016 was an ordinary year in the post–Great Recession period. As in prior years, the conventional forecasts predicted that this would be the year...more Publication -
Policy Note No. 1
Inequality Update: Who Gains When Income Grows?
April 06, 2017 Since the 1980s, economic recoveries in the United States have been delivering the vast majority of income growth to the wealthiest households. This policy note updates the analysis in One-Pager...more Publication