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4195 results found

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  Conference Proceedings

  14th Annual Hyman P. Minsky Conference on Financial Structure

  Topics at the 2004 Minsky conference included fiscal and monetary policies for the expansion of national economies as well as the global economy; exchange rate misalignments resulting from “brutal” gyrations in the currency markets, and their possible cures; and trade and capital flows as they might impinge upon the conduct of monetary and fiscal policies. […]
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  Press Release

  Official Measures Underestimate US Poverty Rates by Ignoring Asset and Wealth Levels, New Levy Study Asserts

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  Public Policy Brief Highlight No. 76

  Asset Poverty in the United States

  Economic growth and a rising stock market in the 1990s gave the impression that everyone was accumulating wealth and asset poverty rates were declining. The impression was supported by the official, income-based poverty measure, which exhibited a sharp decline. According to Senior Scholar Edward N. Wolff and Research Scholar Asena Caner, poverty measures should include […]
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  Working Paper No. 405

  Some Simple, Consistent Models of the Monetary Circuit

  We address the finance motive and the determination of profits in the Monetary Theory of Production associated with the Circuitist School. We show that the “profit paradox” puzzle addressed by many authors who adopt this approach can be solved by integrating a simple Circuit model with a consistent set of stock-flow accounts. We then discuss […]
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  Working Paper No. 404

  The “War on Poverty” after 40 Years

  Hyman Minsky is best known for his work in the area of financial economics, and especially for his financial instability hypothesis. In recent years, some authors have also recognized his advocacy of the “employer of last resort” as part of his “big government” intervention to help maintain stability. However, very little research has been undertaken […]
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  Public Policy Brief No. 76

  Asset Poverty in the United States

  Economic growth and a rising stock market in the 1990s gave the impression that everyone was accumulating wealth and asset poverty rates were declining. The impression was supported by the official, income-based poverty measure, which exhibited a sharp decline. According to Senior Scholar Edward N. Wolff and Research Scholar Asena Caner, poverty measures should include […]
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  Policy Notes No. 1

  Inflation Targeting and the Natural Rate of Unemployment

  Inflation targeting has become an increasingly popular strategy for setting monetary policy during the last decade. While no countries had formal inflation targets before 1990, currently 22 countries use inflation targeting. One notable exception is the United States, where the Federal Reserve has a dual mandate to pursue both price stability and full employment. Some […]
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  Strategic Analysis

  Is Deficit-financed Growth Limited?

  Wynne Godley, our Levy Institute colleague, has warned since 1999 that the falling personal saving and rising borrowing trends that had powered the US economic expansion were not sustainable. He also warned that when these trends were reversed, as has happened in other countries, the expansion would come to a halt unless there were major […]
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  Press Release

  Leading Policymakers and Economists to Explore Economic Recovery at Levy Institute Conference April 23–24

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  Book Series

  After the Bell

  Since the publication of the Coleman report in the United States many decades ago, it has been widely accepted that the evidence that schools are marginal in the grand scheme of academic achievement is conclusive. Despite this, educational policy across the world remains focused almost exclusively on schools. This volume focuses its searchlight on family […]
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  Biennial Report

  Biennial Report, 2002–2003

  As 2004 begins, the Levy Institute can look back on the 2002–03 period as one of accomplishment and transition. Several initiatives were begun, new personnel were added, and the Institute continued its efforts in its traditional areas of strength. Thus, we can report that the Institute remains vibrant and as determined as ever to contribute […]
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  Press Release

  Inflation Targeting Could Hurt Low-Skilled Workers, Would Do Little to Address Prices, New Levy Study Says