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Working Paper No. 890
On the Centrality of Redemption
The paper presents a financial approach to monetary analysis that links the credit and state theories of money. A premise of the functional approach to money is that “money is what money does.” In this approach, monetary and mercantile mechanics are conflated, which leads to the conclusion that unconvertible monetary instruments are worthless. The financial […] -
Greek Economy to Grow Over 2 Percent in 2017, Papadimitriou Says
Bloomberg, May 11, 2017. All Rights Reserved. Greece is confident that the country’s economic output will exceed 2 percent in 2017 boosted by investments, privatizations and exports, Economy and Development Minister Dimitri Papadimitriou said. Read more: https://www.bloomberg.com/news/articles/2017-05-11/greek-economy-to-grow-over-2-percent-in-2017-papadimitriou-says -
Press Release
Income Inequality in the United States Worsens with Each Postwar Economic Expansion, New Levy Institute Report Says
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EBRD Sees "Enormous Opportunities" in Greece
EBRD, May 11, 2017. All Rights Reserved. The EBRD has reiterated its support for Greece and sees “enormous opportunities” in the country. Alain Pilloux, the Bank’s Vice President, Banking, told a well-attended panel on the investment outlook for Greece: “We will continue to ramp up operations in Greece so that our contribution to economic recovery is maximised […] -
EBRD Sees “Enormous Opportunities” in Greece
DimitrI B. Papadimitrio comments on the economic outlook for Greece; estimates 2% growth in 2017. -
Minsky Conference: FDIC’s Hoenig Gives Keynote on Banking System Reform
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The Rock-Star Appeal of Modern Monetary Theory
The Nation, May 22–28, 2017. All Rights Reserved. In early 2013, Congress entered a death struggle—or a debt struggle, if you will—over the future of the US economy. A spate of old tax cuts and spending programs were due to expire almost simultaneously, and Congress couldn’t agree on a budget, nor on how much the […] -
Working Paper No. 889
The Dynamics of Government Bond Yields in the Eurozone
This paper investigates the determinants of nominal yields of government bonds in the eurozone. The pooled mean group (PMG) technique of cointegration is applied on both monthly and quarterly datasets to examine the major drivers of nominal yields of long-term government bonds in a set of 11 eurozone countries. Furthermore, autoregressive distributive lag (ARDL) methods […] -
The Rock-Star Appeal of Modern Monetary Theory
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Press Release
Trump Economic Policies Likely to Worsen rather than Solve Structural Weaknesses Undermining US Economic Growth, New Levy Institute Study Says
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Minsky Conference: FDIC’s Hoenig Warns Against Scrapping a US Bankruptcy Reform
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Blog
On the Concert of Interests and Unlearning the Lessons of the 1930s
Jan Kregel opened this year’s Minsky Conference (which just wrapped up yesterday) with a reminder that the broader public challenges we face today are still in many ways an echo of those that faced the nation in 1930s. What follows is an abridged version of those remarks: This year’s conference takes place in an increasingly charged and divisive [...]