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Policy Note No. 2023/2The Challenges for the New Greek Government
June 26, 2023 Following the recent (June 25, 2023) elections in Greece, Institute President Dimitri B. Papadimitriou and Research Scholar Nikolaos Rodousakis outline the economic and policy challenges facing the Greek government. Publication -
Working Paper No. 1019An Inquiry Concerning Japanese Yen Interest Rate Swap Yields
May 08, 2023 This paper econometrically models Japanese yen (JPY)–denominated interest rate swap yields. It examines whether the short-term interest rate exerts an influence on the long-term JPY swap yield after controlling for...more Publication -
Policy Note No. 2023/1
Greece: Higher GDP Growth at What Cost?
May 01, 2023 In 2022, Greek GDP grew at a higher rate than the eurozone average as the nation’s economy rebounded from the COVID-19 shock. However, it was not all welcome news. In...more Publication -
Working Paper No. 1018
The Unbearable Weight of Aging
April 21, 2023 The aging of the global population is in the headlines following a report that China’s population fell as deaths surpassed births. Pundits worry that a declining Chinese workforce means trouble...more Publication -
Working Paper No. 1017
Rentiers, Strategic Public Goods, and Financialization in the Periphery
April 12, 2023 This paper revisits a traditional theme in the literature on the political economy of development, namely how to redistribute rents from traditional exporters of natural resources toward capitalists in technology-intensive...more Publication -
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Working Paper No. 1016
Monetary Policy and the Gender and Racial Employment Dynamics in Brazil
February 23, 2023 Monetary policy has been historically concerned with controlling inflation, using the interest rate as its main tool. However, such policies are not gender- or race-neutral. This paper explores econometrically the...more Publication -
Working Paper No. 1015
CBDC Next-Level: A New Architecture for Financial “Super-Stability”
February 20, 2023 Fractional reserve regimes generate fragile banking, and full reserve regimes (e.g., narrow banking) remove fragility at the cost of suppressing the role of banks as lenders. A Central Bank Digital...more Publication -
Working Paper No. 1014
Chinese Yuan Interest Rate Swap Yields
February 16, 2023 This paper models the dynamics of Chinese yuan (CNY)–denominated long-term interest rate swap yields. The financial sector plays a vital role in the Chinese economy, which has grown rapidly in...more Publication -
Working Paper No. 1013
The Economic and Environmental Effects of a Green Employer of Last Resort
January 18, 2023 We assess the sectoral impact of the implementation of a “green” employer of last resort (ELR) program in the US, based on an environmental modification of an extended Kurz’s (1985)...more Publication -
Working Paper No. 1012
An Analysis of UK Swap Yields
December 16, 2022 John Maynard Keynes argued that the central bank influences the long-term interest rate through the effect of its policy rate on the short-term interest rate. However, Keynes's claim was confined...more Publication -
One-PagerThe Causes of Pandemic Inflation
December 07, 2022 While the trigger for the Covid recession was unusual—a collapse of the supply side that produced a drop in demand—the inflation the US economy is now facing is not atypical,...more Publication -
Strategic AnalysisΕλλάδα: Ανάκαμψη, ή μια νέα Ύφεση;
October 13, 2022 Σε αυτή τη στρατηγική ανάλυση, ο Πρόεδρος του Ινστιτούτου Δημήτρης Παπαδημητρίου, ο ερευνητής Gennaro Zezza και ο επιστημονικός συνεργάτης Νίκος Ροδουσάκης αναλύουν τις μεσοπρόθεσμες προοπτικές για την ελληνική οικονομία, σε...more Publication -
Strategic Analysis
Greece: Recovery, or Another Recession?
October 13, 2022 In this strategic analysis, Institute President Dimitri B. Papadimitriou, Senior Scholar Gennaro Zezza, and Research Associate Nikolaos Rodousakis discuss the medium-term prospects for the Greek economy in a time of...more Publication -
Working Paper No. 1011
The Dynamics of Monthly Changes in US Swap Yields
September 27, 2022 John Maynard Keynes (1930) asserted that the central bank sways the long-term interest rate through the influence of its policy rate on the short-term interest rate. Recent empirical research shows...more Publication -
Working Paper No. 1010
Reflections on Angela Merkel’s Career as Chancellor of Germany and the Greek Financial Odyssey
September 06, 2022 Angela Merkel is the second-longest-serving chancellor of modern Germany, with more than 16 years in office. During her tenure there were many years of economic stability, but there were also...more Publication -
Strategic Analysis
Avoiding a Recession
August 11, 2022 In this report, Institute President Dimitri B. Papadimitriou, Research Scholar Michalis Nikiforos, and Senior Scholar Gennaro Zezza analyze how and why the US economy has achieved a swift recovery in...more Publication -
Working Paper No. 1009
Efficacy of Public Financial Management in Reducing Crime against Children
August 08, 2022 Public financial management (PFM) has a significant role in linking resources to results by financing human development outcomes. When economic stimulus packages are short run in nature, thematic PFM, such...more Publication -