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BlogMore 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 […] -
Blog
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 [...] -
Working Paper No. 755
The Economics of Inclusion
This paper presents a review of the literature on the economics of shared societies. As defined by the Club de Madrid, shared societies are societies in which people hold an equal capacity to participate in and benefit from economic, political, and social opportunities regardless of race, ethnicity, religion, language, gender, or other attributes, and where, […] -
Blog
Europe’s Perilous Quest for Stability
Europe’s currency union is built on two key principles. The first is that the central bank must be independent of political control and its policies squarely focused on maintaining price stability. The second is that fiscal policy must be disciplined and never threaten price stability. Price stability, in turn, is the foundation for economic stability [...] -
Blog
Reverse Pivot?
Is the era of the “grand bargain” over? That was the implication of a number of news stories that pre-framed last night’s speech. “When President Obama delivers his State of the Union address Tuesday evening,” wrote the Washington Post‘s Lori Montgomery, “here’s one thing you won’t hear: an ambitious new plan to rein in the national [...] -
Working Paper No. 754
Growth Trends and Cycles in the American Postwar Period, with Implications for Policy
Do all types of demand have the same effect on output? To answer this question, I estimate a cointegrated vector autoregressive (VAR) model of consumption, investment, and government spending on US data, 1955–2007. I find that: (1) economic growth can be decomposed into a short-run (transitory) cycle gravitating around a long-run (permanent) trend made of […] -
MME, February 11, 2013
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Οι μύθοι της κρίσης και οι «ακόλαστες δαπάνες»
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Blog
Master of Science in Economic Theory and Policy
Are your student advisees looking for an opportunity to advance their career goals with a graduate degree? The Levy Economics Institute Master of Science in Economic Theory and Policy can help them prepare themselves for responsible positions in government, business, education and research. The M.S. in Economic Theory and Policy degree is designed to meet [...] -
MME, February 10, 2013
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Express: Αξιοποίηση του νομισματικού συστήματος για επίλυση των προβλημάτων ανεργίας-φτώχειας