Filter by
4194 results found
-
Economists Find Another Good Moment to Consider Minsky
American Banker, June 1, 2012. © 2012 American Banker and SourceMedia, Inc. All Rights Reserved. Hyman Minsky was a maverick economist in his day. He theorized about the inherent instability of financial markets, and viewed the Federal Reserve as the author of both the permission slip and the prescription for economic crises. None of it […] -
Jan Kregel: Banche, deregulation, et le regole del mercato
In audio clips from a forthcoming interview, Senior Scholar Jan Kregel argues that, to address the current crisis, there is a need for regulations that place limits on the activities of financial institutions. The market does not adjust by itself, says Kregel—it needs rules to function efficiently. Radio Audizioni Italiane. Clip 1. Clip 2. -
BlogA Continuation of the Fed’s “Cheap Money Policy”?
As I write, markets are wondering what Fed Chairman Ben Bernanke will say about interest rates in a press conference taking place this afternoon. Many economists, including some on the Federal Reserve’s rate-setting committee, are arguing that the Chairman is courting inflation with his policies of keeping interest rates low. He has been using three [...] -
Blog
What Would a Grexit Look Like?
Slate‘s Matt Yglesias nicely captures the gap between the reactions of opinion-makers to the Greek election results and the reactions of markets (Sunday’s electoral results point to a coalition government centered around New Democracy and Pasok): “Markets were supposed to be reassured. Instead they’re freaking out. European stock markets are declining, and Spanish bond yields [...] -
Policy Notes No. 7
The Greek Crisis
The European Union’s (EU) handling of the Greek crisis has been an unmitigated disaster. In fact, EU political leadership has been a failure of historic proportions, as its myopic, neoliberal bent and fear-driven policies have brought the eurozone to the brink of collapse. After more than two years of a “kicking the can down the […] -
Blog
What This Election Isn’t About
This received little attention, but President Obama recently sat down for an interview with Mark Halperin of Time magazine. The interview didn’t generate anything you might call “newsworthy,” littered as it was with tired exchanges like this one: Q: “Why not in the first year, if you’re [re-]elected — why not in 2013, go all [...] -
Book SeriesContributions in Stock-flow Modeling: Essays in Honor of Wynne Godley
In the 1970s, at a time of shock, controversy and uncertainty over the direction of monetary and fiscal policy, Wynne Godley and the Cambridge Department of Applied Economics rose to prominence, challenging the accepted Keynesian wisdom of the time. This collection of essays brings together eminent scholars who have been influenced by Godley’s enormous contribution […] -
Blog
Some Views on the “Cliff”
On the topic of public policy, this Works Progress Administration (WPA) poster from the 1930s seems particularly relevant this year. You may have heard of the “fiscal cliff” that the federal budget will fall off in January, under existing law. It will be quite a fiscal contraction, if it happens as scheduled: about 4 percent [...] -
Blog
Austerity Wars: A New (False) Hope
The intensity of the debate over whether the Baltic economies (Estonia, Latvia, and Lithuania) should serve as models for the rest of the eurozone periphery has been raised a couple notches. Last week, Paul Krugman noted that the Estonian recovery, while positive, has not been as remarkable as austerity supporters tend to imply. This prompted [...] -
One-Pager No. 32Baltic Austerity—the New False Hope
Ireland was at one time the poster child for fiscal austerity, but that country’s disappointing economic performance of late has left austerity apologists searching for a new model—and the Baltic economies appear to be next in line. But Estonia, Latvia, and Lithuania are as unsuited to stand as successful models of expansionary fiscal contraction and […] -
One-Pager No. 32
Η λιτότητα στις χώρες της Βαλτικής—η νέα απατηλή ελπίδα
Η Ιρλανδία αποτελούσε κάποτε παράδειγμα επιτυχίας των μέτρων δημοσιονομικής λιτότητας, αλλά οι απογοητευτικές οικονομικές επιδόσεις της χώρας το τελευταίο διάστημα έχουν αναγκάσει τους απολογητές της λιτότητας να αναζητούν νέο μοντέλο, που φαίνεται ότι το ανακάλυψαν στις χώρες της Βαλτικής. Αλλά η Εσθονία, η Λετονία, και η Λιθουανία είναι εξίσου ακατάλληλα παραδείγματα επιτυχημένων προτύπων της συσταλτικής […] -
Working Paper No. 726Time Use of Mothers and Fathers in Hard Times
The recession precipitated by the US financial crisis of 2007 accelerated the convergence of women’s and men’s employment rates, as men experienced disproportionate job losses and women’s entry into the labor force gathered pace. Using the American Time Use Survey (ATUS) data for 2003–10, this study examines whether the recession also occasioned a decline in […]