Filter by
4201 results found
-
A Quick Boost for the Economy—a $12 Minimum Wage
The Real News Network, April 5, 2012. All original content copyright © The Real News Network. In an interview with TRNN’s Paul Jay, Senior Scholar James K. Galbraith offers a solution to boosting demand: raise the minimum wage. Full video and a transcript of the interview are available here. -
BlogGalbraith: How $12 Minimum Wage Could Boost Economy
-
Summary No. 2Summary Spring 2012
The Summary updates current Levy Institute research, with synopses of new publications, accounts of professional presentations by the research staff, and an overview of Levy Institute events. In this issue, papers survey the prospects of a new global financial crisis, propose a new institutional architecture and other solutions to the global debt crisis, quantify the […] -
Press ReleaseLeading Economists and Policymakers to Discuss Debt, Deficits, and Financial Instability at the Levy Economics Institute’s 21st Annual Hyman P. Minsky Conference, in New York City, April 11–12
-
Working Paper No. 712Shadow Banking and the Limits of Central Bank Liquidity Support
Global liquidity provision is highly procyclical. The recent financial crisis has resulted in a flight to safety, with severe strains in key funding markets leading central banks to employ highly unconventional policies to avoid a systemic meltdown. Bagehot’s advice to “lend freely at high rates against good collateral” has been stretched to the limit in […] -
Blog
New Empirical Evidence of Long-lasting Effects of Mortgage Crisis
Debts left over on consumers’ balance sheets from the mortgage crisis have had particularly serious and long-lasting effects on the economic health of those localities where the crisis hit the hardest, according to what appears to be some interesting and important evidence discussed in an article in today’s New York Times. Of course, the notion [...] -
Blog
Krugman vs Minsky: Who Should You Bank On When It Comes to Banking?
Last week I explained why Minsky matters, outlining his main contributions. This was, in part, a response to a blog post by Paul Krugman that appeared to dismiss the importance of trying to find out “what Minsky really meant.” But, more importantly, it was a response to his defense of a simple model of debt [...] -
Blog
Change in the Age of Parasitic Capitalism
In his latest policy note, C. J. Polychroniou argues that the political and economic dominance of finance is pushing advanced liberal societies to a breaking point: The main problem is the power that finance capitalism exerts over domestic society and the abuses that it inflicts. Finance capitalism is economically unproductive (it does not create true [...] -
Working Paper No. 711
Global Financial Crisis
This paper provides a quick review of the causes of the Global Financial Crisis that began in 2007. There were many contributing factors, but among the most important were rising inequality and stagnant incomes for most American workers, growing private sector debt in the United States and many other countries, financialization of the global economy […] -
Working Paper No. 711
H παγκόσμια χρηματοοικονομική κρίση
Η παρούσα εργασία παρέχει μια γρήγορη επισκόπηση των αιτιών της παγκόσμιας χρηματοοικονομικής κρίσης που ξεκίνησε το 2007. Υπήρξαν πολλοί παράγοντες που συνέβαλαν στο ξέσπασμα της κρίσης, αλλά ανάμεσα στους πιο σημαντικούς ήταν η αυξανόμενη ανισότητα και τα στάσιμα εισοδήματα για τους περισσότερους αμερικανούς εργαζόμενους, το αυξανόμενο χρέος του ιδιωτικού τομέα στις Ηνωμένες Πολιτείες και σε […] -
Blog
Can Tax-Backed Bonds Save the Eurozone?
Philip Pilkington and Warren Mosler have teamed up to present a financial innovation that they believe could settle the eurozone’s sovereign debt crisis: a special type of “tax-backed bond” that contains a clause stating that if (and only if) the country issuing the bond defaults, the bond can be used to make tax payments in [...] -
Policy Notes No. 4ax-backed Bonds—A National Solution to the European Debt Crisis
The root of Europe’s sovereign debt crisis can be found in the fact that investors are concerned that countries in the periphery might default, causing them to demand a higher yield on government bonds. What’s needed is a way of giving peripheral debt a high degree of safety while allowing peripheral countries to remain users of the euro. […]