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BlogMinsky’s Contribution to Theory of Asset Market Bubbles
Below is the abstract of a presentation to be delivered by Frank Veneroso on Monday April 30th (1:30pm) at the Levy Institute: Most orthodox explanations of what we call asset bubbles and financial crises attribute them to exogenous shocks to the economy. For example, a Fed monetary policy error supposedly caused the Great Depression with [...] -
Could Germany Leave the Eurozone?
As stocks continue to plunge in Europe and on Wall Street, Masters and Papadimitriou revisit the malaise in the eurozone, where the cost of Spanish debt has reached unsustainable levels, austerity has proven to be disastrous, and there is no money for stimulus. Full audio of the interview is available here. -
Blog
Athens-based “Express” Dedicates Page in Its Sunday Edition to Levy Institute Research
The Levy Institute has announced its collaboration with the daily financial newspaper Express, based in Athens, Greece. Beginning with its April 22 issue, Express will publish each week, on a specially designated page in its Sunday edition, articles, research summaries, and interviews by Levy Institute scholars and associates. The collaboration is a natural extension of [...] -
Press ReleaseSignificant Increase in Fiscal Stimulus Needed to Reduce Unemployment and Spur Growth, New Levy Study Says
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Press Release
European Debt Crisis Far from Over, New Levy Economics Institute Study Says
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Will Germany Break Out of the Box It Has Put Itself In?
In a radio segment for Ian Masters’ “Background Briefing,” Dimitri Papadimitriou speculates that Germany might just end up being the eurozone country that decides it’s not worth staying in the union. Germany, says Papadimitriou, has boxed itself in such that, as one of the only eurozone countries that’s growing, it must ultimately bear the major [...] -
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Would a Substantial Fall in Unemployment Help Single-parent Families?
(click to enlarge) Has the tough labor market of the past five years caused an increase in the severity of the economic problems facing women who are raising children mostly on their own? In this blog entry, we provide updated information on a topic featured in a 2010 post to this blog. The idea [...] -
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More Confusion About Eurozone Debt
The Washington Post is casually informing its readers that the eurozone’s austerity programs are really aimed at addressing all that government profligacy everyone knows was rampant in the run up to the crisis. This seems like another good opportunity to post this chart, showing net debt as a percentage of GDP in some key eurozone [...] -
Productivity, the Miracle of Compound Interest, and Poverty
Naked Capitalism, April 22, 2012. Copyright © 2006, 2007, 2008, 2009, 2010, 2011 Aurora Advisors Incorporated. All Rights Reserved. Research Associate Michael Hudson looks at the disconnect between the enormous productivity gains in the postwar era and the failed promise of a leisure economy. The full post is available here. -
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Beyond the Minsky Moment
From the Introduction to Beyond the Minsky Moment, a recent publication of the Levy Institute’s program on Monetary Policy and Financial Structure: A new era of reform cannot be simply a series of piecemeal changes. Rather, a thorough, integrated approach to our economic problems must be developed; policy must range over the entire economic landscape and [...] -
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Eurozone Crisis 2.0
Although some considered (or pretended to consider) the eurozone crisis to have been “solved” with the last Greek bailout/bond swap, reality “begs to differ,” says C. J. Polychroniou. In his latest one-pager, Polychroniou provides an update on the status of “eurozone crisis 2.0” as the spotlight shifts to Spain, Portugal, and Italy: The eurozone crisis [...] -
One-Pager No. 29Eurozone Crisis 2.0
Since last month’s Greek bond swap, various European leaders have declared the eurozone crisis over or “almost over.” But Euroland’s current economic reality begs to differ. No matter how much cheap money the ECB provides or how high the EC “firewall” rises, the region’s economic malaise can’t be cured without massive government intervention—the implementation of […]