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BlogIt’s Time to Shift the Focus of the Deficit Debate
The Congressional Budget Office’s latest report on the budget outlook revealed (perhaps unintentionally) that fixating on Congress and the President as the central players in the federal deficit drama is a mistake. According to the CBO, the path the federal budget deficit will follow over the next 10 years is just as much (if not [...] -
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Legends of the Greek Fall
Why has the world’s premiere deficit-reduction laboratory produced such a dismal failure? European leadership still expects the painful über austerity measures imposed on Greece to result in a dramatic improvement of its debt to GDP ratio. But the experiment in endurance is not succeeding for an important reason: Austerity programs have been rooted in myths [...] -
Legends of the Greek Fall
The Huffington Post, February 20, 2013. All Rights Reserved. Why has the world’s premiere deficit-reduction laboratory produced such a dismal failure? European leadership still expects the painful über austerity measures imposed on Greece to result in a dramatic improvement of its debt to GDP ratio. But the experiment in endurance is not succeeding for an […] -
MME, February 18, 2013
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Δημήτρης Β. Παπαδημητρίου: «Το 2013 και το 2014 θα είναι ακόμη πιο ταραχώδη από το 2012»
ΑΥΓΗ, 17 Φεβρουαρίου 2013. All Rights Reserved. Ανάκαμψη προς το τέλος του 2013; Ούτε κατά διάννοια, μας λέει στη συνέντευξη που ακολουθεί ο κ. Δημήτρης Β. Παπαδημητρίου, πρόεδρος του διεθνούς φήμης Levy Economics Institute, Καθηγητής Οικονομικών στην έδρα “Jerome Levy” και εκτελεστικός αντιπρόεδρος του Bard College στη Νέα Υόρκη. Όχι μόνο αυτό, αλλά η κατάσταση […] -
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Budget Wars Roundup
A couple of links worth sharing on the politics and policy of the budget debate. First, the Wall Street Journal reports that Alan Simpson and Erskine Bowles are coming out with a new deficit reduction plan, worth $2.4 trillion. If it’s anything like the last plan, every lawmaker will claim to love it, journalists will [...] -
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No, the Euro Crisis Is Not Over. An Interview with Jörg Bibow
Jörg Bibow was recently interviewed by CJ Polychroniou in Kyriakatiki Eleftherotypia (Κυριακάτικη Ελευθεροτυπία).* An English transcript of the interview follows: Since Mario Draghi’s announcement last fall that the ECB will intervene with the purchase of government bonds, the euro crisis is in a state of relative calm. Is it over? And if not, what developments [...] -
MME, February 17, 2013
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Jörg Bibow: «Ο βασικός ένοχος της κρίσης είναι η Γερμανία»
Κυριακάτικη Ελευθεροτυπία, 17 Φεβρουαρίου 2013. All Rights Reserved. Στη συνέντευξη που ακολουθεί, ο ερευνητής του Ινστιτούτου Jorg Bibow εξηγεί τους λόγους για τους οποίους θεωρεί ότι η Γερμανία φέρει την κύρια ευθύνη για την κρίση στην ευρωζώνη, ενώ αμφισβητεί τον ισχυρισμό ότι έληξε η κρίση στην ευρωζώνη. -
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More Data on the Golden Age of Postwar Austerity
Here’s yet another way of representing the fact that to the extent the United States has a “spending problem,” it is a problem of too little spending. From a speech by Janet Yellen, Vice Chair of the Federal Reserve: … discretionary fiscal policy hasn’t been much of a tailwind during this recovery. In the year following [...] -
Working Paper No. 756Long-Term Benefits from Temporary Migration
Utilizing a nationally representative sample of households from Sri Lanka, this study examines gender differences in the long-term impact of temporary labor migration. We use a propensity score matching (PSM) framework to compare households with return migrants, households with current migrants, and equivalent nonmigrant households in terms of a variety of outcomes. Our results show […] -
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Event: Lewis and Taibbi on Fixing Wall Street
Salim B. “Sandy” Lewis in conversation with Matt Taibbi Tuesday, February 19, 7 pm Bard College, Annandale-on-Hudson, NY Room 103, Reem-Kayden Science Building Lewis will explore “Why Fixing Wall Street and the Economy Is Critical to the World” in a discussion with Matt Taibbi, the renowned political and financial columnist for Rolling Stone. The discussion will be moderated by [...]