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BlogHow’s That “Make People Poorer” Strategy Working Out?
There is no shortage of viable economic solutions for the eurozone. But as Martin Wolf points out in his FT column, once you strike all of the solutions that have been declared politically unacceptable (eurobonds, a stronger EU-level fiscal authority), there aren’t too many policy levers left to pull. One possibility Wolf mentions is to [...] -
One-Pager No. 31
Is an Austerity-induced Depression about to Bring Down the Final Curtain on the Greek Drama?
On June 17, Greece will hold a second round of elections, the outcome of which might force the European Union to halt all financial assistance to the debt-strapped country. What Greece desperately needs is a leadership with the ability to explore all possible options and to prepare the nation for the tough challenges that may […] -
Press ReleaseUS Approaches to Financial Regulation Are Incomplete and Inadequate, New Levy Economics Institute Study Says
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Blog
Can the Eurozone Be Saved without Treaty Changes or New Institutions?
Yanis Varoufakis and Stuart Holland have updated their “Modest Proposal” for overcoming the eurozone crisis (they call it version 3.0). They took on the challenge of coming up with proposals for addressing the eurozone’s tripartite crisis (sovereign debt, banking, and underinvestment) in a way that avoids any treaty changes or the creation of new EU [...] -
Blog
“A New Frontier of Economic Nonsense”
In an interview with Helen Artopoulou that was posted on Capital.gr, Levy Institute president Dimitri Papadimitriou discusses the failure of the austerity policies imposed on Greece and the uncertain future of the euro project. Q. The political impasse in Greece, largely the outcome of the recent elections, had led to some reconsideration of the austerity policy [...] -
Greece May Remain in the Euro Zone with a New Rescue Plan
Capital.gr, May 18, 2012. © All Rights Reserved. In an interview with Helen Artopoulou (DailyFX.gr/FXCM) that was posted on Capital.gr, Dimitri B. Papadimitriou, president of the Levy Economics Institute, discusses the failed policy of austerity that the European Union opted to enforce on Greece, and what it may take for Greece to overcome its current […] -
Η Ελλάδα μπορεί να παραμείνει στο ευρώ με ένα νέο σχέδιο διάσωσης
Capital.gr, May 18, 2012. © All Rights Reserved. Για την αποτυχημένη «συνταγή» λιτότητας που επέλεξε η ΕΕ και τη δυνατότητα της Ελλάδας να βγει από το πολιτικό και οικονομικό αδιέξοδο μιλά στο DailyFX ο Δημήτρης Β. Παπαδημητρίου, πρόεδρος του Levy Economics Institute. Συνέντευξη στην Ελένη Αρτοπούλου (DailyFX.gr/FXCM) – Το πολιτικό αδιέξοδο στην Ελλάδα, συνέπεια του […] -
Working Paper No. 725Problems with Regional Production Functions and Estimates of Agglomeration Economies
Over the last 20 years or so, mainstream economists have become more interested in spatial economics and have introduced largely neoclassical economic concepts and tools to explain phenomena that were previously the preserve of economic geographers. One of these concepts is the aggregate production function, which is also central to much of regional growth theory. […] -
Working Paper No. 724
Post-Keynesian Institutionalism after the Great Recession
This paper surveys the context and contours of contemporary Post-Keynesian Institutionalism (PKI). It begins by reviewing recent criticism of conventional economics by prominent economists as well as examining, within the current context, important research that paved the way for PKI. It then sketches essential elements of PKI—drawing heavily on the contributions of Hyman Minsky—and identifies […] -
Working Paper No. 724
Ο Θεσμικός μετα-Κεϋνσιανισμός μετά τη Μεγάλη Κάμψη
Η εργασία αυτή ερευνά το πλαίσιο και το περίγραμμα του σύγχρονου Θεσμικού μετα-Κεϋνσιανισμού (ΘΜΚ). Ξεκινά με την ανασκόπηση της πρόσφατης κριτικής διακεκριμένων οικονομολόγων στα παραδοσιακά οικονομικά και εξετάζει, εντός του ισχύοντος πλαισίου, τις σημαντικότερες πτυχές της έρευνας που άνοιξαν το δρόμο για το ΘΜΚ. Στη συνέχεια, σκιαγραφεί τα βασικά στοιχεία του ΘΜΚ, αντλώντας σε μεγάλο […] -
Blog
Did Tax Reform Contribute to Soaring CEO Pay?
Mark Thoma has posted the English transcripts of a three–part interview of James Galbraith by the German website NachDenkSeiten. In the first interview there is a brief exchange with Roger Strassburg in which Galbraith discusses the idea that the 1986 tax reforms, which followed the “lower the rates, broaden the base” mantra that we’re still [...] -
Greece and the Euro: What’s Next?
CNNMoney, May 14, 2012. © 2012 Cable News Network. A Time Warner Company. All Rights Reserved. Investors are getting increasingly worried about whether Greece will remain in the eurozone. And they should. There are a series of upcoming events that could spell the end of a deal, put in place nearly three months ago, to […]