Filter by
3511 results found
-
EventExiting the Crisis: The Challenge of an Alternative Policy Road Map
Organized by the Athens Development and Governance Institute and the Levy Economics Institute of Bard College Athinais Cultural Centre Athens, Greece March 8–9, 2013 This two-day forum drew academics, journalists,...more Event -
Event
Employer of Last Resort: Growth and Fiscal Effects
Organized by the Observatory on Economic and Social Developments, Labour Institute, Greek General Confederation of Labour, Athens (INE-GSEE) Park Hotel Athens, Greece March 11, 2014 For the event program,...more Event -
Event
The Many Faces of Poverty in the United States
Presented by the Bard College Economics Program and the Levy Economics Institute Room 202, Olin Hall, Bard College May 4, 2015, 5:00 p.m. Sophie Mitra is associate professor in the...more Event -
Event
The Financial Regulation Conundrum: Why We Should Discriminate in Favor of Long-Term Finance
Presented by the Levy Economics Institute of Bard College and the Bard Economics Program Levy Institute November 4, 2016, at 11:00 a.m. Anemic growth rates, rent-seeking financialization, the liquidity trap,...more Event -
Event
Gender and Macroeconomics
New York City September 26–27, 2019 A workshop organized by the Levy Economics Institute of Bard College with the generous support of The William and Flora Hewlett Foundation The goal...more Event -
Event
Women’s Economic Empowerment and Control over Time in Sub-Saharan Africa
Women’s Economic Empowerment and Control over Time in Sub-Saharan Africa November 1–November 2, 2021 The onset of the COVID-19 pandemic and the subsequent losses in lives and livelihoods are looming...more Event -
Event
Well-being Costs of Unpaid Care: Gendered Evidence from a Contextualized Time-use Survey in India
UPDATE: Postponed to Spring 2024 Sign up for updates Join us for our second session with Aashima Sinha, Research Scholar, Levy Institute, Bard College, on Wednesday, November 15, from 5pm to...more Event -
Blog
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 -
Blog
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 -
Blog
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 -
Blog
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 -
Blog
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 -
Blog
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 -
Blog
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 -
Blog
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 -
Blog
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 -
Blog
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 -
Blog
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 -
Blog
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 -
Blog
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 -
Blog
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 -
Blog
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 -
Blog
Inequality, Unsustainable Debt, and the Next Crisis
June 18, 2014 In The Guardian, Dimitri Papadimitriou warns that the combined forces of persistent inequality, shrinking government budgets, and the US trade deficit are setting the stage for another private-debt-driven financial crisis: Right now, America is wrestling a three-headed monster of weak foreign demand, tight government budgets and high income inequality, with every sign that these conditions [...] Blog -
Blog
Daniel Alpert at the Minsky Summer Seminar
June 24, 2014 On Saturday, Daniel Alpert delivered the closing remarks at the Levy Institute’s Hyman P. Minsky Summer Seminar: Minsky had the rarely seen ability to stand back from all he had learned—even at times from his own mentors—and not only see and articulate what was misunderstood, what wasn’t working, but also to explain why conventional wisdom is often not [...] Blog