Filter by
4195 results found
-
BlogLooking Beyond the Tax System to Fight Inequality
In the context of last Tuesday’s State of the Union, Pavlina Tcherneva was interviewed by Wall Street Journal Live‘s Sara Murray on the issue of the effectiveness of policies to combat widening income inequality. [iframe width=”475″ height=”288″ src=”http://video-api.wsj.com/api-video/player/iframe.html?guid=84206A51-1034-4E5F-A37D-363CBF7499CD” autoplay=”0″ frameborder=”0″ allowfullscreen></iframe] In the interview, Tcherneva comments that while some of the progressive taxation policies [...] -
Working Paper No. 830Quality of Match for Statistical Matches Using the Consumer Expenditure Survey 2011 and Annual Social Economic Supplement 2011
This paper describes the quality of the statistical match between the Current Population Survey (CPS) March 2011 supplement and the Consumer Expenditure Survey (CEX) 2011, which are used for the integrated inequality assessment model for the United States. In the first part of this paper, the alignment of the datasets is examined. In the second, […] -
Working Paper No. 829
The Repeal of the Glass-Steagall Act and the Federal Reserve’s Extraordinary Intervention during the Global Financial Crisis
Before the global financial crisis, the assistance of a lender of last resort was traditionally thought to be limited to commercial banks. During the crisis, however, the Federal Reserve created a number of facilities to support brokers and dealers, money market mutual funds, the commercial paper market, the mortgage-backed securities market, the triparty repo market, […] -
Working Paper No. 829
Η κατάργηση του νόμου Glass-Steagall και η έκτακτη παρέμβαση του Ομοσπονδιακού Αποθεματικού κατά τη διάρκεια της παγκόσμιας χρηματοοικονομικής κρίσης
Πριν από την παγκόσμια χρηματοπιστωτική κρίση επικρατούσε η αντίληψη ότι η στήριξη του δανειστή έσχατης καταφυγής περιοριζόταν στις εμπορικές τράπεζες. Ωστόσο, κατά τη διάρκεια της κρίσης, η Ομοσπονδιακή Τράπεζα των ΗΠΑ δημιούργησε μια σειρά από μηχανισμούς για τη στήριξη των χρηματομεσιτών και των διαπραγματευτών, των αμοιβαίων κεφαλαίων, την εμπορική χρηματική αγορά, την αγορά ενυπόθηκων τίτλων […] -
Blog
It Seems QE Is Finally Coming to Euroland—Will It Matter at All?
When French president François Hollande pre-announced the ECB Governing Council’s long-awaited adoption of “quantitative easing” at its meeting tomorrow, German chancellor Angela Merkel was quick to respond by pointing out that this was still the independent ECB’s decision alone. It was good of her to do so. For in recent times one could not help [...] -
Blog
Much Excitement—and Lots of Confusion—about “Helicopter Money” of Late
Wolfgang Münchau is one of those rare sensible voices in the international media reporting on the euro crisis. He has been consistently right in his gloomy assessments of euro crisis management in recent years. He is also correct in pointing out that the observed deflationary trend in the eurozone is not primarily due to any [...] -
Blog
Odds and Sods: Some Good Reads for a Cold Winter Friday
If you, too, are living in one of the sub-zero climes right now, you might want some stimulating reading: 1) Here’s one of the best and fairest summaries of MMT that I’ve seen, by Joe Guinan. As Joe says: “Few matters of economic importance are as woefully misunderstood as modern money. It can seem a fiendishly [...] -
Press ReleaseContinuation of Austerity Measures Will Prolong Greece’s National Crisis for More Than a Decade and Poses Contagion Risk for Eurozone, New Levy Institute Report Says
-
Working Paper No. 828
Financialization and Corporate Investments
Financialization creates space for the financial sector in economies, and in doing so helps to raise the share of financial assets in the portfolios held by market participants. Largely driven by deregulation, the process works to make financial assets relatively attractive as compared to other assets, by offering both better returns and potential capital gains. […] -
Working Paper No. 828
Η χρηματιστικοποίηση και οι εταιρικές επενδύσεις
Η χρηματιστικοποίηση ανοίγει χώρο στις οικονομίες για την επέκταση του χρηματοοικονομικού τομέα και, με αυτόν τον τρόπο, συμβάλλει στην αύξηση του μεριδίου των χρηματοοικονομικών περιουσιακών στοιχείων στα χαρτοφυλάκια που κατέχονται από τους συμμετέχοντες στην αγορά. Η διαδικασία της χρηματιστικοποίησης, που καθοδηγείται σε μεγάλο βαθμό από την απορρύθμιση, λειτουργεί με το να καθιστά τα χρηματοοικονομικά περιουσιακά […] -
Blog
Some Quick Takeaways from the ECJ Opinion of Advocate General Cruz Villalón on the ECB’s OMT
The Advocate General (AG) has spoken on the ECB’s OMT program today. Apparently the markets were more concerned about the latest U.S. retail sales numbers than delighted about the “okay in principle provided that” signal sent from Luxembourg to the German triangle of euro power (Frankfurt, Berlin, and Karlsruhe). First of all, in the AG’s [...] -
Press Release
Levy Economics Institute of Bard College Announces Launch of 3+2 Program Leading to Master of Science Degree in Economic Theory and Policy