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Press ReleaseEconomic Catastrophe in Greece Highlights Failure of EU and IMF Neoliberal Economic Policies and Corruption and Ineptitute of Greece’s Domestic Political Elite, New Levy Study Says
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Strategic AnalysisIs the Link between Output and Jobs Broken?
As this report goes to press, the official unemployment rate remains tragically elevated, compared even to rates at similar points in previous recoveries. The US economy seems once again to be in a “jobless recovery,” though the unemployment rate has been steadily declining for years. At the same time, fiscal austerity has arrived, with the […] -
Strategic Analysis
Ισχύει ακόμη η σύνδεση παραγωγής και δημιουργίας θέσεων εργασίας;
Καθώς ετοιμάζεται να δημοσιευθεί η παρούσα έκθεση, η ανεργία παραμένει σε εξαιρετικά υψηλά επίπεδα ακόμη και σε σχέση με ανάλογα χρονικά σημεία από προηγούμενες περιόδους οικονομικής ανάκαμψης. Η οικονομία των ΗΠΑ φαίνεται να βιώνει για άλλη μια φορά μια «άνεργη» ανάκαμψη—αν και τα ποσοστά της ανεργίας μειώνονται σταθερά εδώ και χρόνια. Ταυτόχρονα, η δημοσιονομική λιτότητα […] -
BlogPapadimitriou on the Cyprus Crisis
Yesterday, Dimitri Papadimitriou joined Ian Masters to discuss the response to the banking crisis in Cyprus. The plan on the table, in which Cypriot banks would impose a deposit tax (9.9 percent on deposits above €100,000, and 6.75 on deposits below that) in order to gain access to a €10 billion bailout from the troika, [...] -
Working Paper No. 759Wages, Exchange Rates, and the Great Inflation Moderation
Several explanations of the “great inflation moderation” (1982–2006) have been put forth, the most popular being that inflation was tamed due to good monetary policy, good luck (exogenous shocks such as oil prices), or structural changes such as inventory management techniques. Drawing from Post-Keynesian and structuralist theories of inflation, this paper uses a vector autoregression […] -
The Banking Crisis in Cyprus and the Targeting of Russian Deposits
March 18, 2013. Copyright © 2013 KPFK. All Rights Reserved. Pacifica Radio host Ian Masters interviews Levy Institute President Dimitri B. Papadimitriou about the banking meltdown in Cyprus that has revived concerns about the viability of the eurozone. They also look into the exposure that Russian companies and individuals have in troubled banks in Cyprus, where […] -
MME, March 17, 2013
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Ράνια Αντωνοπούλου: Μόνιμο Ταμείο στη μάχη κατά της ανεργίας
Eleftherotypia, March 17, 2013. All Rights Reserved. Η ΚΑΘΗΓΗΤΡΙΑ Οικονομικής Ράνια Αντωνοπούλου, του Levy Institute, δεν διστάζει να καταγγείλει πως το 75% της κατακόρυφης αύξησης της ανεργίας μετά το 2008 οφείλεται στην καταστροφική πολιτική του Μνημονίου. Εκτιμά πως η αύξηση αυτή θα συνεχιστεί, γιατί οι εξαγωγές δεν καρπώνονται σημαντικά οφέλη από τη μείωση του κόστους […] -
Conference Proceedings
Berlin Hyman P. Minsky Conference on Financial Instability
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 AG Berlin, Germany November 26–27, 2012 The purpose of this conference was to gain a better understanding of the causes of financial instability and […] -
MME, March 15, 2013
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Ράνια Αντωνοπούλου: «Στην Ελλάδ έφεραν την ύφεση με το ζόρι»
Σε συνέντευξή της στον «Επενδυτή», η Ράνια Αντωνοπούλου μιλάει για την εσκεμμένη ύφεση που προκάλεσε η τρόικα ως μέρος της προσπάθειας της να περιορίσει την καταναλωτική δαπάνη. -
Working Paper No. 758
How the Fed Reanimated Wall Street
Walter Bagehot’s putative principles of lending in liquidity crises—to lend freely to solvent banks with good collateral but at penalty rates—have served as a theoretical basis for thinking about the lender of last resort for close to 100 years, while simultaneously providing justification for central bank real-world intervention. If we presume Bagehot’s principles to be […]