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BlogThe Plunging Euro and Its Muddled Cheerleaders
Greg Ip had a couple of pieces on currency wars and gyrations in the Wall Street Journal last week (here and here), essentially arguing that talk about currency warfare is much beside the point and that exchange rate gyrations are merely benevolent side-effects of monetary policies that will inevitably make the whole world better off. [...] -
Working Paper No. 835On the Determinants of Changes in Wage Inequality in Bolivia
In recent years, Bolivia has experienced a series of economic and political transformations that have directly affected the labor markets, particularly the salaried urban sector. Real wages have shown strong increases across the distribution, while also presenting a decrease in inequality. Using an intertemporal decomposition approach, we find evidence that changes in demographic and labor […] -
Blog
Beyond the Debt Negotiations: Greece’s New Deal?
The negotiations over Greece’s public debt and the terms of its bailout agreement have understandably taken center stage. Behind all the twists and turns, the key consideration is that even if the public debt could be repaid through continuing with austerity policies — and there is little reason to believe it can — it would [...] -
Blog
Wray: What’s Wrong with the Euro Setup?
In this March 7th presentation, L. Randall Wray argues that the central problem in the EMU is not profligate peripheral nations, trade imbalances, or insufficient “structural reform.” The fundamental issue, which can best be framed through an understanding of money, is a flawed setup — the EMU is designed to fail. La Asociación de Economía [...] -
MME, March 8, 2015
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Η αναδιάρθρωση του χρέους
Kathimerini, 8 Μάρτιος 2015. Με επιφύλαξη παντός δικαιώματος. Παρά τη σκληρή διαπραγμάτευση που έλαβε χώρα στο Eurogroup μεταξύ της νεοεκλεγείσας κυβέρνησης και των υπουργών Οικονομικών της Ευρωζώνης και τη συμφωνία για την παράταση της δανειακής σύμβασης επί τέσσερις μήνες, δεν βρέθηκε λύση για το δύσκολο πρόβλημα της βιωσιμότητας του ελληνικού χρέους. Και όμως η αναδιάρθρωση […] -
MME, March 7, 2015
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Το πρόβλημα του Ελληνικού δημόσιου χρέους
Capital.gr, 7 Μαρτίου 2015. Με επιφύλαξη παντός δικαιώματος. Η ελληνική οικονομική κρίση ξεκίνησε ως μια κρίση δημόσιου χρέους πριν από πέντε χρόνια. Ωστόσο, παρά την εφαρμογή της λιτότητας και ένα γενναίο «κούρεμα», το δημόσιο χρέος βρίσκεται σήμερα περίπου στο 175% του ελληνικού ΑΕΠ. Στο παρόν σημείωμα πολιτικής υποστηρίζουμε ότι το δημόσιο χρέος της Ελλάδας είναι […] -
TeorÃa monetaria moderna y trabajo garantizado
El Salmon Contracorriente, 5 Marzo 2015. Reservados todos los derechos. Randall Wray abrió el acto explicando al público una de las bases de su enfoque teórico: la apertura del discurso económico hacia una perspectiva distinta a la que se imparte en la universidad. El profesor estadounidense planteó que para criticar el actual modelo económico es […] -
Blog
Spain’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