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Press Release
One-time Student Debt Cancellation Could Have Significant Benefits for U.S. Economy, New Levy Report Suggests
Research Project Report
The Macroeconomic Effects of Student Debt Cancellation
Among the more ambitious policies that have been proposed to address the problem of escalating student loan debt are various forms of debt cancellation. In this report, Scott Fullwiler, Research Associate Stephanie Kelton, Catherine Ruetschlin, and Marshall Steinbaum examine the likely macroeconomic impacts of a one-time, federally funded cancellation of all outstanding student debt. The […]
Working Paper No. 900
Functional Finance
This paper examines the views of Hyman Minsky and Abba Lerner on the functional finance approach to fiscal policy. It argues that the main principles of functional finance were relatively widely held in the immediate postwar period. However, with the rise of the Phillips curve, the return of the Quantity Theory, the development of the […]
Working Paper No. 899
Gender Pay Gaps in the Former Soviet Union: A Review of the Evidence
The goal of this paper is to examine the patterns and movements of the gender pay gaps in the countries of the former Soviet Union (FSU) and to place them in the context of advanced economies. We survey over 30 publications and conduct a meta-analysis of this literature. Gender pay gaps in the region are […]
Summary No. 1
Summary Winter 2018
This issue of the Summary opens with a public policy brief that suggests looking to the postwar clearing union proposals made by John Maynard Keynes and Richard Kahn for insight into possible reforms of the current eurozone financial system. Two policy notes featured in this issue focus on current policy in the United States: the […]
Press Release
Time Deficits and Hidden Poverty Threaten to Undermine U.N.’S Sustainable Development Goals, New Levy Institute Study Says
Blog
Join Us for the 2018 Minsky Summer Seminar
The Levy Economics Institute of Bard College is pleased to announce the ninth Minsky Summer Seminar will be held from June 17–23, 2018. The Seminar will provide a rigorous discussion of both the theoretical and applied aspects of Minsky’s economics, with an examination of meaningful prescriptive policies relevant to the current economic and financial outlook. [...]
Policy Notes No. 4
How Time Deficits and Hidden Poverty Undermine the Sustainable Development Goals
The predominant framework for measuring poverty rests on an implicit assumption that everyone has enough time available to devote to household production or enough resources to compensate for deficits in household production by purchasing market substitutes. Senior Scholar Ajit Zacharias argues that this implicit bias in our official poverty statistics threatens to undermine the Sustainable […]
Blog
Watch Live: A New New Deal and the Job Guarantee
Today at the New School, L. Randall Wray and Stephanie Kelton take part in a public workshop organized by the National Jobs for All Coalition that is focused on developing a “A New ‘New Deal’ for NYC and the USA.” Wray and Kelton will be sharing initial findings from an upcoming Levy Institute project that [...]
Blog
Applications Open for the Levy Institute M.S. and New One-Year M.A.
The Levy Institute is accepting applications to the M.S. and M.A. in Economic Theory and Policy for Fall 2018. The new, one-year M.A.* joins the two-year M.S. in offering students an alternative to mainstream programs in economics and finance. Our graduate curriculum is rooted in the Institute’s distinctive research program, including macroeconomic theory and policy analysis, [...]
Working Paper No. 898
Corporate Tax Incidence in India
The paper attempts to measure the incidence of corporate income tax in India under a general equilibrium setting. Using seemingly uncorrelated regression coefficients and dynamic panel estimates, we tried to analyze both the relative burden of corporate tax borne by capital and labor and the efficiency effects of corporate income tax. The data for the […]
Greek Economy Minister Dimitri Papadimitriou talks to Sky News’s Ian King.