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Trump Is Now Running to the Left of Sanders on Federal Debt

Bloomberg, May 11, 2016. All Rights Reserved. Donald Trump’s about-face on the relevance of a ballooning U.S. debt continues his campaign’s hallmark of zigging and zagging on policy issues, landing him now on economic proposals favored by economists to the left of Bernie Sanders. The billionaire businessman has advocated for the federal government to take advantage […]

Working Paper No. 865

Measuring Poverty in the Case of Buenos Aires

We describe the production of estimates of the Levy Institute Measure of Time and Income Poverty (LIMTIP) for Buenos Aires, Argentina, and use it to analyze the incidence of time and income poverty. We find high numbers of hidden poor—those who are not poor according to the official measure but are found to be poor […]

Book Review: Why Minsky Matters

Seeking Alpha, May 5, 2016. All Rights Reserved. A few decades ago, Paul Samuelson wrote a letter to Robert Shiller and John Campbell, in which he discussed the notion that while the stock market was “micro efficient,” it was also “macro inefficient,” by which he meant that although profitable security choices were swiftly arbitraged away, […]

Levy Economics: 90% of Americans Worse Off Today Than in 1970s

ValueWalk, May 3, 2016. All Rights Reserved. Today we will focus on a recent study from the Levy Economics Institute which found that 90% of Americans were worse off financially in 2015 than at any time since the early 1970s. Furthermore, for the vast majority of Americans, the nation’s economy is in a prolonged period of stagnation, […]

MME, April 30, 2016

 

Αποψη: Προς μια βελτίωση του νομισματικού συστήματος της Ε.Ε.

Kathimerini, 30 Απρίλιος 2016. Με επιφύλαξη παντός δικαιώματος. Ο​​λο και περισσότεροι οικονομολόγοι και αναλυτές πιστεύουν πως η οικονομική πολιτική που ακολουθούν ορισμένες ευρωπαϊκές χώρες θα υπονομεύσει τους κανόνες της νομισματικής ένωσης, προκαλώντας τελικά είτε την κατάλυση κάθε συνοχής στην Ευρώπη είτε μια παρατεταμένη περίοδο στασιμότητας…. Διαβάστε περισσότερα κάνοντας ΚΛΙΚ ΕΔΩ: http://www.kathimerini.gr/858279/article/oikonomia/die8nhs-oikonomia/apoyh-pros-mia-veltiwsh-toy-nomismatikoy-systhmatos-ths-ee

Trump Says American Dream Is Dead; Is He Right?

Voice of America, April 25, 2016. All Rights Reserved. Donald Trump has famously declared that the American Dream is dead, but the majority of middle class Americans seem to disagree with the Republican presidential frontrunner. Sixty-three percent of people surveyed earlier this year believe they are living the American Dream. That finding suggests American optimism hasn’t been a […]

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Dear Time Magazine Readers, the United States Is Not Insolvent

This is apparently the latest cover of Time magazine: The idea that the US government or the nation as a whole is “insolvent” has an undying appeal. The fear of (or yearning for) some manner of budget crisis has waned somewhat over the last couple of years (one hopes this is due to the fact that most people alive today have never [...]

Research Associate Stephanie Kelton speaking at the 2016 Minsky Conference

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The Crisis in Brazil and the “Narrow Path” for Economic Policy

The big political story in Brazil is the potential impeachment of President Dilma Rousseff (Brazil’s lower house of congress voted in favor of impeachment; the motion now moves to the senate for consideration). To get an idea of how messy this situation is, note that the man leading the impeachment attempt, Speaker of the House Eduardo Cunha, is facing 184 years in [...]

Working Paper No. 864

Maximizing Price Stability in a Monetary Economy

In this paper we analyze options for the European Central Bank (ECB) to achieve its single mandate of price stability. Viable options for price stability are described, analyzed, and tabulated with regard to both short- and long-term stability and volatility. We introduce an additional tool for promoting price stability and conclude that public purpose is […]

How Regulators Mess With Bankers’ Minds, and Why That’s Good

The New York Times, April 14, 2016. All Rights Reserved. Bank regulators on Wednesday sent a message that big banks are still too big and too complex. They rejected special plans, called living wills, that the banks have to submit to show they can go through an orderly bankruptcy. The thinking behind the regulators’ call […]