Filter by
4203 results found
-
Report No. 2
Report April 2011
This issue leads off with a public policy brief by Scott Fullwiler and Senior Scholar L. Randall Wray about reining in the Federal Reserve. In addition, it includes a policy note by Research Associate Marshall Auerback about the impact of Germany exiting the eurozone and 17 working papers by Levy Institute scholars and associates, as […] -
Summary No. 2
Summary Spring 2011
In this issue of the Summary, papers focus on international trade and the export baskets of China and India, the competitiveness of the eurozone, the roles of the Federal Reserve and Treasury, a reorientation of fiscal policy, a restructuring of the global financial system, the merits of capital controls, financial fragility, a theory of money, […] -
Blog
How many Americas are there?
The new edition of The Atlantic contains this interesting map, showing how changing median incomes and demographics have divided the United States into 12 distinct geographic areas, each contributing to an overall picture of increasing economic inequality. (It may be helpful to use your browser’s “zoom” feature as you look at the map.) For example, [...] -
Working Paper No. 664
Can Portugal Escape Stagnation without Opting Out from the Eurozone?
The creation of the Economic and Monetary Union (EMU) has not brought significant gains to the Portuguese economy in terms of real convergence with wealthier eurozone countries. We analyze the causes of the underperformance of the Portuguese economy in the last decade, discuss its growth prospects within the EMU, and make two proposals for urgent […] -
Press Release
Fiscal Stimulus and Export Growth Needed for Strong US Recovery, New Levy Economics Institute Study Says
-
Working Paper No. 663
Quality of Match for Statistical Matches Used in the 1995 and 2005 LIMEW Estimates for Great Britain
The quality of match of four statistical matches used in the LIMEW estimates for Great Britain for 1995 and 2005 is described. The first match combines the fifth (1995) wave of the British Household Panel Survey (BHPS) with the 1995–96 Family Resources Survey (FRS). The second match combines the 1995 time-use module of the Office […] -
Blog
More on real interest rates in Europe
Charts in last week’s entry, which contained approximations of real interest rates for various European countries, were unfortunately incorrect. The problem resulted from a silly mathematical error in the formula used to calculate the figures shown in the graphs. Accordingly, the author has recently uploaded a new version of the post, including corrected diagrams. He [...] -
Working Paper No. 662
The Financial Crisis Viewed from the Perspective of the “Social Costs” Theory
This paper examines the causes and consequences of the current global financial crisis. It largely relies on the work of Hyman Minsky, although analyses by John Kenneth Galbraith and Thorstein Veblen of the causes of the 1930s collapse are used to show similarities between the two crises. K.W. Kapp’s “social costs” theory is contrasted with […] -
Blog
Krugman, Galbraith, and others debate MMT
Paul Krugman slugs it out with our colleague Jamie Galbraith and many other “modern monetary theory” partisans at Krugman’s New York Times blog website. Jamie’s most recent retort is at the top of this page of the blog site. Many of the points raised in the discussion there are central to our work here at [...] -
Working Paper No. 661
Minsky’s Money Manager Capitalism and the Global Financial Crisis
The world’s worst economic crisis since the 1930s is now well into its third year. All sorts of explanations have been proffered for the causes of the crisis, from lax regulation and oversight to excessive global liquidity. Unfortunately, these narratives do not take into account the systemic nature of the global crisis. This is why […] -
Blog
How Tight Have ECB Policies Been in Real Terms?
(Click picture to enlarge.) Readers may have seen two charts that are part of a column by David Wessel published last week. For five European countries, they compare actual interest rates with those prescribed by a standard policy rule. Wessel’s charts provide some interesting evidence that European Central Bank monetary policy has been either too [...] -
Blog
Some Interesting Charts and Arguments on the Deficit Issue
Some more thoughts on the federal debt, which I blogged about last week: First, at Barry Ritholtz’s blog, there are some other interesting figures: one portraying the gross federal debt in three different ways and another breaking the gross debt down by holder. Ritholtz’s figures use data from the U.S. Treasury Department. Note that the [...]