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BlogBasic Income and the Job Guarantee
Pavlina Tcherneva was interviewed by Joe Weisenthal yesterday to present the case against a universal basic income policy (a proposed version of which was just voted down in Switzerland). Watch: Tcherneva has written about the UBI versus Job Guarantee debate, including this contribution (pdf) to a special issue of the journal Basic Income Studies (paywall). She also spoke about this last [...] -
The Argument Against Basic Income
Bloomberg, June 7, 2016. All Rights Reserved. Research Associate Pavlina R. Tcherneva argues against a universal basic income policy and in favor of a job guarantee in this interview with Bloomberg’s Joe Weisenthal. Click here for the video. -
Working Paper No. 868From Antigrowth Bias to Quantitative Easing
This paper investigates the European Central Bank’s (ECB) monetary policies. It identifies an antigrowth bias in the bank’s monetary policy approach: the ECB is quick to hike, but slow to ease. Similarly, while other players and institutional deficiencies share responsibility for the euro’s failure, the bank has generally done “too little, too late” with regard […] -
Financial consultant Henry Kaufman speaking at the 25th Annual Minsky Conference
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Blog
Of Voices in the Air and Never-Ending Dreams of Helicopter Drops
Confusions about so-called helicopter money (HM) continue unabated. My recent letter to the editor of The Financial Times, titled “’Helicopter money’ is a muddled fiscal policy by another name,” has not met with universal approval. In fact, it seems to have ruffled some feathers and caused some annoyance. Simon Wren-Lewis is a case in point. In a [...] -
MME, May 29, 2016
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Η εφαρμογή της λιτότητας και η ανάπτυξη
Kathimerini, 29 Πολιτικη 2016. Με επιφύλαξη παντός δικαιώματος. Σε πρόσφατη έρευνα, που δημοσιεύτηκε από το Levy Economics Institute, αναλύεται η επίπτωση που είχαν στην αναδιανομή εισοδήματος και στην ανισότητα οι αλλαγές στη δημοσιονομική στάση των κρατών-μελών της Ευρωπαϊκής Ενωσης μεταξύ 2006 και 2013. Μελετήθηκαν οι επιπτώσεις τόσο για το φτωχότερο κομμάτι του πληθυσμού όσο και […] -
Glut: Storing Oil at a Loss, Greece in Need of Money
Boom Bust (RT), May 25, 2016. All Rights Reserved. Anti-austerity protests take hold in Belgium as tens of thousands take to the streets in opposition. And the Eurogroup meets to discuss the Greek bailout as tension builds between creditors. Ameera David reports…. After the break, Ameera is joined by Levy Economics Institute research associate Marshall Auerback […] -
Press ReleaseBold Restructuring of Greek Public Debt Is Needed, New Levy Economics Institute Study Says
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Blog
Bibow on Helicopter Money in the FT
In the Financial Times, Jörg Bibow writes in reaction to an article by Stephanie Flanders on “helicopter money” — the idea of having the central bank directly credit citizens’ bank accounts (or, in the thought experiment, to print bank notes and drop them from helicopters) with the aim of generating increases in consumer spending. Bibow observes that helicopter money is really [...] -
Working Paper No. 867
The Greek Public Debt Problem
This paper examines the issue of the Greek public debt from different perspectives. We provide a historical discussion of the accumulation of Greece’s public debt since the 1960s and the role of public debt in the recent crisis. We show that the austerity imposed since 2010 has been unsuccessful in stabilizing the debt while at […] -
Blog
Gexit: The Case for Germany Leaving the Euro
The case for or against a British exit from the EU – #Brexit – is headline news. For the moment the earlier quarrel about a possible Greek exit from the Eurozone – #Grexit – seems to have taken the back seat – with one or two exceptions such as Christian Lindner, leader of Germany’s liberal [...]