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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 […] -
BlogThis 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 [...] -
Banking Regulation: Closed for Business
The American Prospect, April 24, 2013. All Rights Reserved. Satisfied with the meager reforms of the Dodd-Frank financial-reform bill, the Treasury is standing in the way of further efforts to rein in mega-banks. These are heady times for the bipartisan group of reformers seeking a safer and more manageable U.S. financial system. The leaders of this […] -
Narayana Kocherlakota at 2013 Minsky Conference
For video excerpts from Minneapolis Fed President Narayana Kocherlakota’s speech "Low Real Interest Rates," presented at the Levy Institute’s 22nd Annual Minsky Conference in New York on April 18, click here. Includes audience and press Q&A. -
MME, April 22, 2013
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Αυτό το «πακέτο» μπορούσαμε να το αποφύγουμε
Katherimerini, 22 Aπριλίου 2013. Με επιφύλαξη παντός δικαιώματος. Οι τέσσερις κοινές ερωτήσεις 1 Μπορούσε η Ελλάδα να έχει αποφύγει το Μνημόνιο; 2 Με ποιον διαφορετικό τρόπο θα είχαμε αντιμετωπίσει την κρίση χρέους; 3 Ποια ήταν τα βασικά λάθη στην κατασκευή της πολιτικής του Μνημονίου και τι θα μπορούσε να έχει γίνει διαφορετικά στην εκτέλεσή του; […] -
Is the Fed’s Medicine Really Poison?
Bloomberg View, April 22, 2013. All Rights Reserved. It’s not every day that a central banker admits that his medicine for curing the last crisis may be laying the groundwork for the next. But that’s exactly what Narayana Kocherlakota, President of the Federal Reserve Bank of Minneapolis, said last week at the annual Hyman P. […] -
Economists Slow to Detect Dodgy Data
The Age (Melbourne), April 21, 2013. All Rights Reserved. If we needed more evidence that economics is not a science, we have it now. A shock wave hit the economics world this week when two of its most famous practitioners—Kenneth Rogoff and Carmen Reinhart—were found to have produced some very dodgy data to support their […] -
There’s No Need for All This Economic Sadomasochism
The Guardian, April 21, 2013. All Rights Reserved. If Reinhart and Rogoff’s ‘error’ has discredited the prevailing policy dogma, now is the time for an alternative that works The intellectual justification for austerity lies in ruins. It turns out that Harvard economists Carmen Reinhart and Ken Rogoff, who originally framed the argument that too high […] -
Public Policy Brief No. 128
From Safety Nets to Economic Empowerment
Social protection systems comprise public policies designed to prevent or alleviate economic insecurity and poverty. Throughout the developing world, social protection strategies and the dialogue surrounding them have recently been undergoing an important evolution. In this policy brief, Senior Scholar and Director of the Gender Equality and the Economy program Rania Antonopoulos highlights the opportunities […]