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BlogSpain’s Proposal for a Job Guarantee
Yesterday I participated in a press conference and gave the first of a series of lectures in Madrid on MMT and the Job Guarantee. At the press conference, Alberto Garzón announced his party’s plan to create a million jobs in a targeted JG: “IU plantea un plan de 9.600 millones para crear un millón de [...] -
Blog
The 24th Annual Minsky Conference
Is Financial Reregulation Holding Back Finance for the Global Recovery? Organized by the Levy Economics Institute of Bard College with support from the Ford Foundation The National Press Club Washington, D.C. April 15–16, 2015 The 2015 Minsky Conference will address, among other issues, the design, flaws, and current status of the Dodd-Frank Wall Street Reform [...] -
Alberto Garzón plantea un plan para crear un millón de empleos en un año
El Correro, 4 Marzo 2015. Reservados todos los derechos. Izquierda Unida quiere que el trabajo esté “garantizado” en Espaã como elemento de inserción social imprescindible y, para ello, propone implantarlo de forma gradual y por etapas con la creación de un millón de empleos el primer aõ con menos del 1% del PIB…. Leer más: http://www.elcorreo.com/bizkaia/politica/201503/04/alberto-garzon-plantea-plan-20150304155358-rc.html -
IU plantea un plan de 9.600 millones para crear un millón de empleos en un año
Público, 04 de marzo 2015. Reservados todos los derechos. MADRID — El portavoz económico de la Izquierda Plural (IU-ICV-CHA) y próximo candidato de Izquierda Unida a la Presidencia del Gobierno, Alberto Garzón, ha presentado este miércoles una propuesta para crear un millón de empleos por una inversión neta de 9.600 millones de euros en su primer […] -
Policy Notes No. 3A Decade of Declining Wages
In a recent policy note (A Decade of Flat Wages?) we examined wage trends since 1994, and found that while wages grew between 1994 and 2002, average real wages stagnated or declined after 2002–03. Our latest study provides a more detailed analysis of wage trends for wage-level, age, and education groups, with emphasis on the […] -
Policy Notes No. 3
Μια δεκαετία πτωτικής τάσης των μισθών
Σε ένα πρόσφατο κείμενο πολιτικής («A Decade of Flat Wages?») εξετάσαμε την εξέλιξη των μισθών από το 1994 και βρήκαμε ότι ενώ οι μισθοί αυξήθηκαν μεταξύ 1994 και 2002, ο μέσος πραγματικός μισθός από το 2002-03 είτε παρέμεινε στάσιμος είτε μειώθηκε. Η παρούσα μελέτη παρέχει μια πιο λεπτομερή ανάλυση της τάσης των μισθών, επικεντρώνοντας την […] -
Working Paper No. 834Does Keynesian Theory Explain Indian Government Bond Yields?
John Maynard Keynes held that the central bank’s actions determine long-term interest rates through short-term interest rates and various monetary policy measures. His conjectures about the determinants of long-term interest rates were made in the context of advanced capitalist economies, and were based on his views on ontological uncertainty and the formation of investors’ expectations. […] -
Blog
Bitcoin and the Rules of Finance
Levy Research Associate Éric Tymoigne contributed to a debate in the Wall Street Journal over the viability of bitcoin and other cryptocurrencies. Here’s Éric: Bitcoins are an odd sort of commodity. They are not financial instruments. The value fluctuates widely, in line with changing views regarding the overall usefulness of the bitcoin payment system and [...] -
Blog
MMT in Madrid: An Update
Another event has been added. Hope to meet Spanish followers of MMT in Madrid this week. Here are some details: [iframe src=”//www.slideshare.net/slideshow/embed_code/45294829″ width=”425″ height=”355″ frameborder=”0″ marginwidth=”0″ marginheight=”0″ scrolling=”no” style=”border:1px solid #CCC; border-width:1px; margin-bottom:5px; max-width: 100%;” allowfullscreen> </iframe> <div style=”margin-bottom:5px”> <strong> <a href=”//www.slideshare.net/UmkcEconomists/actos-de-presentacion-del-libro-de-randall-wray-2″ title=”Actos de presentación del libro de randall wray (2)” target=”_blank”>Actos de presentación del [...] -
Do Cryptocurrencies Such as Bitcoin Have a Future?
The Wall Street Journal, March 1, 2015. All Rights Reserved. Despite the mystery, the whiff of scandal, and general public unfamiliarity with the concept, somebody out there is buying, and selling, not just bitcoin but dozens of other cryptocurrencies as well. The total market capitalization for these unregulated electronic forms of payment was roughly $4.04 […] -
Blog
Galbraith and Krugman on the Greek Deal
If you haven’t read it already, Senior Scholar James Galbraith shared his take on the four-month Greek deal in Social Europe: there was never any chance for a loan agreement that would have wholly freed Greece’s hands. Loan agreements come with conditions. The only choices were an agreement with conditions, or no agreement and no conditions. [...] -
Blog
The Greek Debt Problem and Selective Historical Memory
Michalis Nikiforos, Dimitri Papadimitriou, and Gennaro Zezza, who put together the Levy Institute’s stock-flow consistent macroeconomic model and simulations for Greece, have just released a new policy note, the upshot of which is that restructuring Greece’s unsustainable public debt is a necessary but not sufficient condition for a sustained economic recovery in that country. They [...]