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Working Paper No. 882Investing in Social Care Infrastructure and Employment Generation
This paper examines the aggregate and gender employment impact of expanding the early childhood care and preschool education (ECCPE) sector in Turkey and compares it to the expansion of the construction sector. The authors’ methodology combines input-output analysis with a statistical microsimulation approach. Their findings suggest that the expansion of the ECCPE sector creates more […] -
Working Paper No. 881
The Long-run Determinants of Indian Government Bond Yields
This paper investigates the long-term determinants of Indian government bonds’ (IGB) nominal yields. It examines whether John Maynard Keynes’s supposition that short-term interest rates are the key driver of long-term government bond yields holds over the long-run horizon, after controlling for various key economic factors such as inflationary pressure and measures of economic activity. It […] -
Working Paper No. 880
The Great Recession and Racial Inequality
The Great Recession had a tremendous impact on low-income Americans, in particular black and Latino Americans. The losses in terms of employment and earnings are matched only by the losses in terms of real wealth. In many ways, however, these losses are merely a continuation of trends that have been unfolding for more than two […] -
"Wildcard" Trump Could Affect Markets, Economic Outlook in 2017
CBC News, January 2, 2017. All Rights Reserved. Donald Trump, who will be inaugurated as the next U.S president on Jan. 20, brings with him a high level of uncertainty for 2017, investment managers and economists say. Following the election of Trump on Nov. 8, U.S. stocks took off, with key indices hitting multiple records highs. The Dow Jones industrial average — the […] -
BlogXmas Cheer: The Debt Is Not Our Biggest Problem
Why do so many pundits and politicians, including the future director of the Office of Management and Budget, beat the debt drum so loudly and so often? It’s one of the most effective, and most abused, wedge issues in American politics. by Kerry Pechter The nomination of Mick Mulvaney—deficit hawk, three-term Republican congressman from South [...] -
Assessing Demonetisation: Minsky Provides the Link That Traditional Economics Misses
Swarajya, December 30, 2016. All Rights Reserved. With the end of demonetisation in sight, and partial remonetisation underway, it may be a good time to reassess the much-maligned economics of demonetisation. Over this 50-day period, several economists have denounced demonetisation as poor economics, so much so that reading them has made us feel like we […] -
MME, December 24, 2016
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Δ. Παπαδημητρίου: Mείωση της φορολογίας δεν σημαίνει αυτόματα αύξηση των επενδύσεων
Kathimerini, 30 Δεκέμβριος 2016. Με επιφύλαξη παντός δικαιώματος. Σήμερα πολλοί θεωρούν ότι η μείωση των φορολογικών συντελεστών των επιχειρήσεων αποτελεί τη σωτήρια λύση για την προσέλκυση επενδύσεων, κάτι σαν τη φιλοσοφική λίθο για την ανάπτυξη της οικονομίας. Ομως, η οικονομία ουδεμία σχέση έχει με την αλχημεία. Και η αποτελεσματικότητα μιας τέτοιας πολιτικής εγείρει ενστάσεις…. Διαβάστε […] -
Working Paper No. 879
Distribution-led Growth through Methodological Lenses
This paper presents a methodological discussion of two recent “endogeneity” critiques of the Kaleckian model and the concept of distribution-led growth. From a neo-Keynesian perspective, and following Kaldor (1955) and Robinson (1956), the model is criticized because it treats distribution as quasi-exogenous, while in Skott (2016) distribution is viewed as endogenously determined by a series […] -
Greek Minister Sees Progress Despite Latest Debt Drama
The Washington Times, December 16, 2017. All Rights Reserved. It was a chain of events which neatly captured the grinding economic crisis that plagues Greece: Just as a light appeared at the end of the tunnel, the train broke down once again. In an interview last week, new Greek Economy and Development Minister Dimitri Papadimitriou […] -
Blog
“Stimulus” Isn’t the Best Reason to Support (or Oppose) Infrastructure Spending
A little while back, Pavlina Tcherneva appeared with Bloomberg’s Joe Weisenthal to talk about the potential infrastructure policy of president-elect Donald Trump. She noted that, contrary to initial assumptions, the upcoming administration may not end up pushing public-debt-financed infrastructure spending, and that if the program simply amounts to tax incentives and public-private partnerships, it won’t [...] -
Papadimitriou: Goal for Greece to Participate in QE
Bloomberg Radio, December 13, 2016. All Rights Reserved. Dimitri Papadimitriou, Greece’s new minister of economy and development, talks to Pimm Fox and Lisa Abramowicz about the outlook for the Greek economy, the IMF, and the EU. The minister spoke at Capital Link’s 18th Annual Invest in Greece Forum in NYC. Listen to the podcast here: https://www.bloomberg.com/news/audio/2016-12-13/papadimitriou-goal-for-greece-to-participate-in-qe […]