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EventInternational Comparisons in Economic Well-Being among Advanced Industrialized Countries
Levy Economics Institute of Bard College Annandale-on-Hudson, New York December 2–3, 2010 The purpose of the workshop is to discuss the work on the Levy Institute Measure of Economic Well-Being...more Event -
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Hyman P. Minsky Conference on Financial Instability,Berlin, Germany
Organized by the Levy Economics Institute and ECLA of Bard with support from the Ford Foundation, The German Marshall Fund of the United States, and Deutsche Bank AG Deutsche Bank...more Event -
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23rd Annual Hyman P. Minsky Conference
The National Press Club Washington, D.C. April 9–10, 2014 Organized by the Levy Economics Institute with support from the Ford Foundation Click here for video. Despite the appearance of greater...more Event -
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Rania Antonopoulos: Responding to the Unemployment Crisis in Greece
Presented as part of the MMx seminar “The Disparate Impact of Unemployment: Macroeconomic Policy as a Tool for Race, Gender, and Age Discrimination,” hosted by the Modern Money Network Columbia...more Event -
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Capitalism: Competition, Conflict, Crisis
Presented by the Bard College Economics Program and the Levy Economics Institute Levy Economics Institute Blithewood, Bard College May 9, 2016, 5:00 p.m. One of the world’s leading heterodox economists,...more Event -
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The Hyman P. Minsky Summer Seminar
Levy Economics Institute of Bard College Blithewood Annandale-on-Hudson, N.Y. June 16–22, 2019 The Levy Economics Institute of Bard College hosted the tenth Minsky Summer Seminar from June 16–22, 2019, providing...more Event -
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Intensive Course in Gender-Sensitive Macroeconomic Modeling for Policy Analysis
An Intensive Virtual Course in Gender-Sensitive Macroeconomic Modeling for Policy Analysis June 28–July 16, 2021 Organized by the American University’s Care Work and the Economy Project and Levy Economics Institute...more Event -
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Remittances, Immunization, and Gender: Polio and Girl Children in the Punjab
Join us for our first session with Aniruddha Mitra, Associate Professor of Economics, Bard College, on Wednesday, October 11, from 5pm to 6pm in the Levy Conference Room, or on Zoom....more Event -
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Queering Economics: Diversity and Inclusion in the Dismal Science
Join us for our fifth session with Michael Martell, Associate Professor of Economics at Bard College, on Tuesday, April 16th, from 5pm to 6pm in the Levy Conference Room, or on...more Event -
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Phillips Curve Still Alive for Compensation?
May 13, 2014 On reading a recent post by Ed Dolan at Economonitor with some evidence of the lack of a strong Phillips relationship for consumer-price inflation in US data, it occurred to me to try a measure of total compensation per hour with recent data. The wage relationship estimated over all available quarters, using averaged monthly observations [...] Blog -
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What Are Taxes For? The MMT Approach
May 16, 2014 Previously we have argued that “taxes drive money” in the sense that imposition of a tax that is payable in the national government’s own currency will create demand for that currency. Sovereign government does not really need revenue in its own currency in order to spend. This sounds shocking because we are so accustomed to [...] Blog -
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Is Inequality Holding Back the Recovery?
May 21, 2014 “The biggest obstacle to a sustainable recovery,” according to the Levy Institute’s newest strategic analysis of the US economy, “is the inequality in the distribution of income.” In their latest, Dimitri Papadimitriou, Michalis Nikiforos, Gennaro Zezza, and Greg Hannsgen begin with a familiar point: the Congressional Budget Office has been predicting fairly rosy economic growth [...] Blog -
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An Employment Safety Net for Youth
May 22, 2014 Pavlina Tcherneva participated in a conference on youth unemployment at Middlebury College and shared her ideas for a youth employment safety net (beginning at 38:45): [iframe src=”//player.vimeo.com/video/89719577?title=0&byline=0&portrait=0″ width=”450″ height=”253″ frameborder=”0″ webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe] Blog -
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Is the Eurozone Crisis Really Over?
May 23, 2014 Economic pundits who predicted the collapse of the euro at the start of the eurozone crisis have been proven wrong. But those who say the crisis is over are equally wrong. Four years after the start of the euro crisis, the bailed-out countries of the eurozone (Greece, Ireland, Portugal, and Spain) are still facing serious [...] Blog -
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Bubbles and Piketty: An Interview with L. Randall Wray
May 29, 2014 L. Randall Wray appeared on Thom Hartmann’s radio show yesterday for a lengthy and wide-ranging interview: [iframe width=”480″ height=”270″ src=”//www.youtube.com/embed/q8YND_N_6ms?feature=player_detailpage” frameborder=”0″ allowfullscreen></iframe] Blog -
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Taxes and the Public Purpose
May 30, 2014 In previous installments we have established that “taxes drive money.” What we mean by that is that sovereign government chooses a money of account (Dollar in the USA), imposes obligations in that unit (taxes, fees, fines, tithes, tolls, or tribute), and issues the currency that can be used to “redeem” oneself in payments to the [...] Blog -
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Working Paper Roundup 6/4/2014
June 04, 2014 Monetary Mechanics: A Financial View Éric Tymoigne “This paper presents an alternative framework that can be used to analyze monetary systems by drawing on the work of Smith, MacLeod, Knapp, Innes, Hawtrey, Keynes, Murad, Olivecrona, Wray, and Ingham, among others. The analysis asks what “money” is instead of what “money” does. Monetary instruments are not [...] Blog -
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Creationism versus Redemptionism: How a Money-Issuer Really Lends and Spends
June 10, 2014 MMT has emphasized that there is a close relation between sovereign power to issue a currency and its power to impose tax liabilities. For shorthand, we say “Taxes Drive Money.” I’ve dealt with that topic in the previous installments of this series on MMT’s view of taxes. We’ve also demonstrated (as if it needed demonstration!) [...] Blog -
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The Far Right and the European Elections
June 10, 2014 C. J. Polychroniou, reflecting on the results of the European Parliament elections: The stunning victory of Marine Le Pen’s National Front in France that came in first with 25 percent of the vote—when it had won less than 6.5 percent in the last European elections—is quite indicative of the general political and social trends in [...] Blog -
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Why Draghi’s New Measures Won’t Solve the Low Inflation Problem
June 11, 2014 In yesterday’s Financial Times, Jörg Bibow addressed Mario Draghi’s recent announcement that the ECB will take new steps (including cutting its deposit rate to -0.1 percent) in an attempt to deal with (or, one might argue, in an attempt to appear to deal with) the fact that inflation in the eurozone is too low, according to the [...] Blog -
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The Supposed Decade of Flat Wages Was Worse Than We Thought
June 12, 2014 It’s well known that the wages of US workers have become disconnected from productivity growth, with real wages growing much more slowly than advances in productivity over the last several decades. This is a key part of the story of widening income inequality. But these observed trends actually understate the degree to which working people have been [...] Blog -
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McCulley on Fed Policy, Inflation, and the Taylor Rule
June 13, 2014 Paul McCulley, a familiar face at Levy Institute events (he gave a keynote at our Rio conference and at last year’s Minsky Summer Seminar), is back at PIMCO and his first note is (predictably) worth a read. His latest essay looks at Federal Reserve policy from the standpoint of what McCulley terms the Fed’s “secular [...] Blog -
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Are German Savers Being Expropriated?
June 14, 2014 Last week the ECB’s governing council agreed on interest rate cuts and some fresh liquidity measures. The policy move has sparked off quite some excitement in all kinds of corners. Certainly financial markets highly welcomed the ECB’s much-awaited new easing initiative, with stock indices surging and bond yields plunging to record levels. International commentators generally [...] Blog -
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Tax Bads, Not Goods
June 17, 2014 This is another installment in the series on the MMT view of taxes. I’m back from China, participating in the annual Hyman P. Minsky Summer Seminar at the Levy Economics Institute. Yesterday my colleague, Mat Forstater, gave a talk on the job guarantee and “green jobs.” Along the way he made two particularly insightful comments [...] Blog