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Working Paper No. 1084MMT: Heuristics versus Paradigm Shift?
July 09, 2025 This is a revised version of the keynote address presented at the FDR library for the Levy Institute Summer Seminar on Money, Finance, and Public Policy on June 20th, 2025. Publication -
Levy Institute Takes Center Stage at an ILO Conference
July 07, 2025 The Levy Institute was pleased to co-sponsor multiple sessions at the International Labour Organization’s conference, Regulating for Decent Work on July 4th, 2025. We organized a special session on Designing Effective...more News -
BlogProtecting Social Security: The Case Against Privatization
July 07, 2025 Attempts to undermine Social Security have been ongoing since its enactment in 1935. As the Social Security Administration projects trust fund insolvency by 2033 and Congress looks for deep spending cuts, the pressure is mounting for Social Security benefit cutbacks, despite promises from President Trump and House Speaker Johnson not to reduce benefits. While extending [...] Blog -
Working Paper No. 1083Integrating the Social Reproduction of Labor into Macroeconomic Theory: Unpaid Caregiving and Productivity in Paid Production
June 26, 2025 The purpose of this paper is to contribute to the integration of unpaid caregiving in the household into short- and long-term macroeconomic theory and, in particular, the theoretical structure of...more Publication -
Recapping the 32nd Annual Levy Economics Institute Conference
June 20, 2025 The Levy Economics Institute’s flagship conference, which took place on June 16, 2025, was a resounding success. The 32nd Annual Minsky Conference brought together leading scholars and policymakers to examine contemporary developments in finance through...more News -
BlogConfronting Financial Fragility, Worker Crisis, and Global Turmoil
June 06, 2025 On June 16, 2025, I will welcome colleagues and friends to the 32nd Annual Conference of the Levy Economics Institute—our first in-person gathering since the pandemic, convening at a moment of extraordinary economic upheaval. The challenges before us are among the most consequential in a century: a global trade order in disarray, deepening economic insecurity [...] Blog -
Understanding Modern Money Theory by L. Randall Wray Out Now
May 23, 2025 In this illuminating book, Senior Scholar L. Randall Wray emphasizes the critical role played by both credit and state money in capitalism and explores the origins and evolution of the...more News -
Policy Note No. 2025/4Ratings Agencies Downgrade the Dollar’s Exorbitant Privilege
May 22, 2025 They are at it again. Moody’s has finally joined the other two ratings agencies in downgrading US government debt. Standard & Poor’s downgrade was first in 2011[1], while Fitch waited...more Publication -
Research Project ReportInvesting in Early Childhood Education and Care Services in Jordan
May 20, 2025 Written in October 2022, through a collaboration between Istanbul Technical University (ITU) and the Levy Economics Institute in New York by Ipek Ilkkaracan (ITU), Ayse Aylin Bayar (ITU), Luiza Nassif...more Publication -
Policy Note No. 2025/3What Do We Save When We DOGE the Government?
May 20, 2025 The second Trump administration has seemingly added a new term to the English vocabulary – getting DOGE-ed. Almost every week we hear about another government agency getting the DOGE treatment,...more Publication -
Working Paper No. 1082
Growth vs. Discipline: Italy’s Fiscal Dilemmas in a Stock-Flow Consistent Model
May 12, 2025 This paper investigates the implications of the European Union’s revised fiscal governance framework for Italy, a country facing the dual challenge of high public debt and persistent economic stagnation. Using...more Publication -
BlogTribute to Edwin Le Héron
May 12, 2025 Our eminent French economist colleague, Edwin Le Héron, passed away on 23 April 2025 in Bordeaux. A professor at Sciences Po Bordeaux since 1987, he was the founder and long-standing president of the Association pour le Développement des Études Keynésiennes (ADEK), established in 2000. ADEK has brought together French-speaking post-keynesian economists and organized major international [...] Blog -
One-Pager No. 73The Incoming Recession: Are Imports the Real Culprit?
May 05, 2025 The preliminary estimates for real GDP growth in the first quarter of 2025 show an annualized contraction rate of 0.28 percent, along with an extraordinary increase in imports of 41.3...more Publication -
US House Representative Ro Khanna (CA-17) to Give Keynote Address at 32nd Annual Conference
May 05, 2025 The Levy Institute is pleased to announce the keynote speaker for our 32nd Annual Conference: US House Representative Ro Khanna (CA-17)! The 32nd Annual Levy Economics Institute Conference, Money, Finance, and...more News -
EventSide Event at UN Women 2025 ECOSOC Forum on Financing for Development & FfD4 Conference
The Levy Economics Institute is proud to co-sponsor the side event, “Engendering Fiscal Space: The Role of Macro-Level Economic Policies, External Debt, Concessional Finance, Special Drawing Rights, and Economic Modelling,”...more Event -
Policy Note No. 2025/2Remembering Pope Francis’s Call for a Universal Basic Wage
April 21, 2025 On April 21, 2025, a day after Easter Sunday, the world mourned the passing of His Holiness Pope Francis. Five years earlier, on Easter Sunday, April 12, 2020—amid the devastating...more Publication -
Working Paper No. 1081
The Rise and Rise of Feminist Macroeconomics: Who’s Recognizing?
April 21, 2025 Macroeconomics is arguably the most male-dominated field within the discipline of economics. Since the mid-1990s, feminist economists have thoroughly and meticulously challenged this field through empirical and theoretical analyses and...more Publication -
Policy Note No. 2025/1Trump’s Tariffs: Ending Globalization
April 21, 2025 The Trump administration is reintroducing a number of 40-year-old, Reagan-era economic and military policies, but is particularly preoccupied with the imposition of tariffs for all of the country’s imports. Trump,...more Publication -
Levy Scholar Ajit Zacharias Appointed to National Academies Committee on Measuring the Care Economy
April 17, 2025 Senior Scholar Ajit Zacharias has been appointed to serve on the Committee on A Data Infrastructure for Measuring the Care Economy with The National Academies of Science, Engineering, and Medicine. This...more News -
Levy Scholar James K. Galbraith for Bloomberg: “Why Economists Are Looking at Economics All Wrong”
April 15, 2025 Senior Scholar James K. Galbraith appeared on the Bloomberg podcast Merryn Talks Money to discuss his new book Entropy Economics. This interview was recorded before the market chaos of the last week. There’s a...more News -
The Levy Institute Welcomes Three New Members to Our Board of Advisors
April 09, 2025 The Levy Institute is proud to welcome three new members to our Board of Advisors. Rebeca Grynspan, Secretary-General, UN Trade and Development (UNCTAD) Robert Skidelsky, Emeritus Professor of Political...more News -
Working Paper No. 1080
Protecting Social Security: The Case Against Extending the Full Retirement Age
April 04, 2025 The Social Security “full retirement age” (FRA) is the age at which retirement income benefits are available without reduction for early commencement. Presently, that age is 67 for those born...more Publication -
Working Paper No. 1079
Job Allocation in the Levy Institute Microsimulation Model
April 04, 2025 The Levy Institute Microsimulation Model (LIMM) is a tool used for policy simulations to estimate ex-ante the employment and income effects of sectoral investments. In Istenes (2023), a simple implementation...more Publication -
Galbraith for The Nation: “Trump’s Economics—and America’s Economy”
April 04, 2025 You can’t make America great again by wrecking the government. “What to make of the blur of news, revolutionary rhetoric, panicky fundraising texts, economic indicators, the plunging stock market, and,...more News