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Watch Recordings from Levy Institute 40th Anniversary Conference
May 31, 2026 On May 8, 2026, the Levy Economics Institute convened its annual conference on the 40th anniversary of the Institute’s founding. This year’s conference was held in person on the Bard...more News -
Inaugural Levy Impact Award Presented to Alumnus Oscar Valdés Viera
May 18, 2026 On May 8th, at the close of the Levy Economics Institute’s 40th Anniversary Conference, the inaugural Levy Impact Award was presented to Oscar Valdés Viera, in recognition of a Levy...more News -
BlogMinsky’s Vision and the Coming AI-Induced Crash
May 14, 2026 This is the text of a presentation delivered at the Levy Institute’s 40th Anniversary conference (https://www.levyinstitute.org/events/event/levy-economics-institute-anniversary-conference/); a much longer version contains the references: https://www.levyinstitute.org/publications/artificial-intelligence-friend-foe-fraud/ Bill Janeway nicely summarized Minsky’s two price approach used in his financial theory of investment and investment theory of the cycle that led to the well-known financial instability hypothesis. I want [...] Blog -
Working Paper No. 1116Decent Work in the West Bank: Assessing Youth and Women’s Employment Under Fragility and Conflict
May 14, 2026 This study examines the state of decent work in the West Bank, focusing on the intersection of labor market conditions, gender disparities, and the fragility of legal enforcement. Using a...more Publication -
Working Paper No. 1115
Paying a High Premium: How Climate Change Is Crippling Homeowner’s Insurance and Fueling a Housing Crisis
May 14, 2026 This paper examines the growing impacts of climate change in the US homeowner’s insurance industry. As climate change–driven weather extremes and natural disasters have accelerated in their frequency and severity,...more Publication -
Working Paper No. 1114
Macroeconomic Fragility Effects of Financial Innovation: Behavioral and Decentralized Finance and Artificial Intelligence
May 13, 2026 There seems to be a building consensus of global uncertainty and instability. This can be observed not only from surveys, the media, and country reports, but in the recent speeches...more Publication -
Working Paper No. 1113
Corporate Finance in the Theory of Innovative Enterprise
May 12, 2026 In my research on innovative enterprise and sustainable prosperity, I use the “theory of innovative enterprise” to examine how modes of corporate finance—founder investments, private placements, initial public offerings, retained...more Publication -
EventBreaking the Tragedy of the Horizon? Characterizing the Green Turn of Monetary Regimes
Although remaining controversial and in its infancy, the “greening” of monetary policy and financial regulation is spreading. Such an environmental turn appears as a key channel to reform capitalism, through...more Event -
In Memoriam: Lord Robert Skidelsky
April 27, 2026 Lord Robert Jacob Alexander Skidelsky, passed away April 15 of 2026, was born in the city of Harbin, Manchuria in 1939. Skidelsky was raised in a Russian household but spent...more News -
Working Paper No. 1112After the Wreckage: The Job Guarantee as a New Labor Standard
April 23, 2026 The job guarantee (JG) has long been theorized as a cyclical stabilizer, a buffer stock of publicly employed workers that expands in downturns and contracts in booms. That framing was...more Publication -
Policy Note No. 2026/3The Real Cost of War
April 22, 2026 The press is full of stories on the cost of President Trump’s war of choice against Iran—said to be running at $2 billion a day. With an on-again, off-again ceasefire,...more Publication -
Policy Note No. 2026/2A Premium Crisis: Climate Change Threatens Homeowner’s Insurance, Housing, and Financial Stability
April 15, 2026 A Climate-Driven Systemic Crisis Climate change is rapidly destabilizing the US homeowner’s insurance system, creating major challenges for policymakers concerned with housing affordability and financial stability. Hurricanes, floods, wildfires, tornadoes,...more Publication -
EventSpeculation or Fundamentals? European Natural Gas Price Swings Post 2020
The study by Emanuele Citera and Veronika Dolar explores the dynamics of the European natural gas market during one of its most turbulent periods, 2020–24. Amid extreme price volatility triggered...more Event -
EventThe Role of Production Networks in Price Stability
Part of the Levy at 40 Event Series The pandemic inflation, the war in Ukraine, and now a potential energy crisis from the war in Iran, have all sparked interest...more Event -
Strategic AnalysisGreece: Navigating in Turbulent Waters
April 09, 2026 Recent narratives on the Greek economy emphasize a strong recovery, fiscal discipline, and improved financial credibility. While official statistics indeed point to positive developments—such as output growth, declining unemployment rates,...more Publication -
Working Paper No. 1111
Money in Shadow Banking and the Crypto Economy: A Chartalist Perspective
April 07, 2026 As instructors of Money and Banking, we regularly confront enduring questions: What is money? Is gold money? More recently, students ask whether shadow money, Bitcoin, or stablecoins qualify as money....more Publication -
Tcherneva weighs in on new memo to investors from JP Morgan Chase CEO on Marketplace
April 07, 2026 Jamie Dimon, CEO of JPMorgan Chase, put out his annual letter to shareholders this week. Levy President Pavlina R. Tcherneva weighed in on this morning’s Marketplace report with NPR. “These types...more News -
Working Paper No. 1110
Speculation or Fundamentals? European Natural Gas Price Swings Post 2020
March 30, 2026 We investigate the role of speculation in the European natural gas market over the period 2020–2024, a period marked by extreme price volatility driven by the energy crisis following Russia’s...more Publication -
Working Paper No. 1109
The Evolution of Income Inequality in the United States, Its Consequences, and Some Policy Measures
March 30, 2026 This paper discusses the key concepts and main stylized facts concerning household real income and income inequality in the United States in recent decades. It explains the widely used summary...more Publication -
EventLevy Master’s Alumni Panel + Q&A
Join Thomas Masterson, Director of Levy’s Graduate Programs, and Tyler Emerson, Levy’s Recruiter, in conversation with Levy Alumni about their careers in academia, public policy, and the private sector. We...more Event -
Working Paper No. 1108
Monetary Policy Transmission to Consumption: Inequalities by Gender and Race
March 05, 2026 This paper estimates the causal effects of monetary policy shocks on household consumption, with additional analysis of labor market and income responses, disaggregated by gender and race. I find that...more Publication -
EventInsights from a 25-Year Monetary Policy Experiment
Free and open to the public. The year 2026 marks the 40th anniversary of the Levy Institute’s founding, and this event inaugurates a broader series of programs commemorating this significant...more Event -
Policy Note No. 2026/1The US Supreme Court Rules and Future Prospects of Trump’s Tariff Gambit
February 24, 2026 The Supreme Court Strikes Down IEEPA Tariffs On February 20, 2026, the Supreme Court of the United States ruled, by a majority of six to three, that the International Emergency...more Publication -
EventLevy Graduate Programs Information Session March 6
Thinking about graduate school in economics? The Levy Institute programs in economic theory and policy may be just the transformative experience you’re looking for. Our info sessions provide an overview...more Event