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«Αποτελεί φαντασίωση ότι η Ελλάδα θα επιστρέψει σύντομα στις αγορές»
Ενθεματα, 4 Μαΐου 2013. Με επιφύλαξη παντός δικαιώματος. Ο Δημήτρης Β. Παπαδημητρίου, πρόεδρος του Levy Economics Institute της Νέας Υόρκης, μιλάει για την πολιτική του ΔΝΤ, το δημοσιονομικό έλλειμμα, την ανεργία, την κρίση της ευρωζώνης και της Ευρώπης, την έξοδο από το ευρώ, τα προγράμματα του «εργοδότη της εσχάτης προσφυγής» την οικονομική πολιτική μιας αριστερής […] -
BlogNo Euro Paradoxes Here, Just Plenty of Euro Folly
In economics, there is a remarkable “stickiness” in bad ideas and confusions. In fact, some bad ideas and confusions never seem to go away. For instance, last summer Martin Feldstein bravely suggested that euro weakening would help solve the euro crisis and rescue Europe (WSJ: “A weaker euro could rescue Europe”). Similarly, in a Bruegel [...] -
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Reconciling the Liquidity Trap with MMT
In recent days both Brad DeLong and Paul Krugman have written good pieces arguing against the austerity marketed by deficit hyperventilators. We can thank Thomas Herndon’s muckraking that pushed the topic front and center, showing that there is no empirical evidence in support of the austerian’s claim that big government debts slow growth. Here’s Krugman’s [...] -
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Another Look at the London Whale
When top managers at our largest financial firms claim to have been oblivious of dangerous financial practices carried out under their watch, the most serious implications for regulatory reform don’t actually follow from scenarios in which these managers are lying. It’s a bigger deal, in terms of how far we need to go in changing [...] -
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As Crisis Reaches the Euro Axis, Will France Finally Show its Colors?
France and Germany held largely contradicting hopes and aspirations for Europe’s common currency. To France the key issue in establishing a European monetary union was to end monetary dependence, both from the vagaries of the U.S. dollar and from regional deutschmark hegemony, and to establish a global reserve currency that could actually stand up to [...] -
Rania Antonopoulos: The Value Added of the Levy Institute Measure of Time and Income Poverty (LIMTIP)
Latin America and Gender Equality Bulletin (UNDP), April 2013. All Rights Reserved. In this interview, Rania Antonopoulos, a senior scholar and co-author of the research project report “Why Time Deficits Matter: Implications for the Measurement of Poverty,” discusses the importance of combining income and time poverty measurements in order to reach an effective reduction of […] -
Policy Notes No. 4Lessons from the Cypriot Deposit Haircut for EU Deposit Insurance Schemes
In March of this year, the government of Cyprus, in response to a banking crisis and as part of a negotiation to secure emergency financial support for its financial system from the European Union (EU) and International Monetary Fund (IMF), proposed the assessment of a tax on bank deposits, including a levy (later dropped from […] -
Policy Notes No. 4
Διδάγματα από τo Κυπριακό «κούρεμα» των καταθέσεων για την ασφάλιση των τραπεζικών καταθέσεων στην ΕΕ
Τον Μάρτιο του τρέχοντος έτους, η κυβέρνηση της Κύπρου πρότεινε ως λύση για την κρίση των Κυπριακών τραπεζών και ως μέρος μιας διαπραγμάτευσης για την εξασφάλιση έκτακτης οικονομικής στήριξης για το χρηματοοικονομικό της σύστημα από την Ευρωπαϊκή Ένωση (ΕΕ) και το Διεθνές Νομισματικό Ταμείο (ΔΝΤ) φόρο επί των τραπεζικών καταθέσεων, συμπεριλαμβανομένης μιας εισφοράς (που αργότερα […] -
MME, April 28, 2013
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Express: Κομβικός ο ρόλος της Fed την εποχή της κυριαρχίας των χρηματιστηριακών αγορών
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Public Policy Brief No. 129More Swimming Lessons from the London Whale
This policy brief by Senior Scholar and Program Director Jan Kregel builds on an earlier analysis (Policy Note 2012/6) of JPMorgan Chase and the actions of the “London Whale,” and what this episode reveals about the larger risks inherent in the financial system. It is clear that the Dodd-Frank Act failed to prevent massive losses by […] -
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This Growth Rate Would Be Insufficient Even If the Economy Weren’t Broken
Today’s GDP report estimated that the US economy grew at an annual rate of 2.5 percent in the first quarter of 2013. If the economy were translating GDP growth into jobs at rates similar to those seen in the past, this 2.5 percent pace would not get us to full employment until, say, the end [...]