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Press ReleaseLooming Automatic Tax Increases and Budget Cuts Would Have Devastating Consequences For US Economy, Levy Study Says
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Scholars Oppose US Government Austerity Moves
Los Angeles Times, October 29, 2012. All Rights Reserved. The idea of expansive government and greater spending to prop up a still flagging economy has gotten little support this election year. But two economists issued a warning Monday of a renewed recession if the government continues to restrict spending — particularly with the sharp tax […] -
Will Bailouts Help Europe?
CNBC, October 26, 2012. All Rights Reserved. President Dimitri B. Papadimitriou talks to CNBC’s Rick Santelli about the failure of the bailouts in Greek and Spain, and the need for a completely different approach to the "European problem," including a broad-reaching plan to aid development in Europe’s southern tier, a banking union to insure deposits, […] -
BlogAnnouncing the Levy Institute Master of Science in Economic Theory and Policy
An announcement from the Levy Institute: Starting in fall 2013, the Levy Economics Institute will begin offering the Master of Science in Economic Theory and Policy, a two-year degree program designed to meet the preprofessional needs of undergraduates in economics and finance. Headed by Senior Scholar and Program Director Jan Kregel, this innovative program draws [...] -
Blog
How Profligate Was the Greek Government?
Breezily blaming the eurozone crisis on government profligacy is a widely-used journalistic shortcut, but by now it should be clear that it’s a shortcut that doesn’t help us understand what went wrong with the euro project. It has been repeated often, though evidently not often enough, that Spain, one of the hardest hit countries, had [...] -
In the Media, October 24, 2012
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Επιτακτική η ανάγκη της διαμόρφωσης ενός εργοδότη της ύστατης προσφυγής στην Ελλάδα
Ναυτεμπορική, 24 Οκτωβρίου 2012. All rights reserved. Η κρίση χρέους στην ευρωζώνη συνεχίζει να εξαπλώνεται, με κύρια χαρακτηριστικά την αύξηση της ανεργίας, χαμηλό επίπεδο εμπιστοσύνης καταναλωτών, και εκτεταμένες περικοπές στους προϋπολογισμούς σε όλη την επικράτεια. Στην Ελλάδα, οι πολιτικές λιτότητας που υιοθετήθηκαν στο πλαίσιο του δεύτερου πακέτου διάσωσης έχουν επιδεινώσει την κατάσταση της οικονομίας, με […] -
CBO’s Fiscal Prediction Fails the Smell Test
Washington Post, October 23, 2012. All Rights Reserved. The Congressional Budget Office predicted back in August that if the country went over the fiscal cliff, the economy would dip into a shallow recession and take about a year to recover. The U.S. economy would shrink about 0.5 percent over the year before bouncing back and […] -
Is the CBO Too Optimistic about the Damage from the Fiscal Cliff?
The Washington Post, October 22, 2012. All Rights Reserved. Let’s assume that the United States jumps right off the fiscal cliff next year. That means all of the Bush tax cuts expire. Those big defense and domestic spending cuts from the sequester kick in. The deficit shrivels by more than $500 billion in 2013. How […] -
In the Media, October 21, 2012
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Η ευρωκρίση και η κατάρρευση της Ελλάδας
Ναυτεμπορική, 21 Σεπτεμβρίου 2012. All rights reserved. Η κρίση στην ευρωζώνη δεν μπορεί να τεθεί υπό έλεγχο εξαιτίας της ελαττωματικής αρχιτεκτονικής του Ευρωσυστήματος, γράφει στο άρθρο ο Πρόεδρος του Ινστιτούτου Οικονομικών Levy Δημήτρης Β. Παπαδημητρίου, με κύριο ψεγάδι την απουσία ενός «Θείου Σαμ» για θα σπεύσει στη βοήθεια των κρατών-μελών που έχουν συσσωρεύσει πολύ υψηλά […] -
Working Paper No. 734The Crisis of Finance-dominated Capitalism in the Euro Area, Deficiencies in the Economic Policy Architecture, and Deflationary Stagnation Policies
In this paper the euro crisis is interpreted as the latest episode in the crisis of finance-dominated capitalism. For 11 initial Euro area countries, the major features of finance-dominated capitalism are analyzed; specifically, the increasing inequality of income distribution and the rising imbalances of current accounts. Against this background, the euro crisis and the economic […]