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Working Paper No. 883

Fiscal Policy, Economic Growth and Innovation

This paper analyzes the effectiveness of public expenditures on economic growth within the analytical framework of comprehensive Neo-Schumpeterian economics. Using a fixed-effects model for G20 countries, the paper investigates the links between the specific categories of public expenditures and economic growth, captured in human capital formation, defense, infrastructure development, and technological innovation. The results reveal […]

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“America First” and Financial Stability: 26th Minsky Conference

REGISTRATION IS NOW OPEN: April 18–19, 2017 Levy Economics Institute of Bard College Blithewood Annandale-on-Hudson, New York 12504 The 2017 Minsky Conference will address the implications of the new administration’s “America First” policies, focusing on the outlook for trade, taxation, fiscal, and financial regulation measures to generate domestic investments capable of moving the growth rate beyond [...]

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L. Randall Wray on MMT and Positive Money

[iframe width=”427″ height=”240″ src=”https://www.youtube.com/embed/-7StbLkjBQk?;start=135″ frameborder=”0″ allowfullscreen></iframe]

Greece’s Economy Minister Confident of Reaching Deal With Creditors

The Wall Street Journal, February 9, 2017. All Rights Reserved. ATHENS—Greece’s economy minister said he is optimistic the country can resolve its deadlock with its international creditors this month over how to fulfill its bailout program, allowing Greece to bring down its borrowing costs and return to bond markets late this year…. Read more: https://www.wsj.com/articles/greeces-economy-minister-confident-of-reaching-deal-with-creditors-1486651074

Greece’s Economy Minister Confident of Reaching Deal with Creditors

Minister Dimitri B. Papadimitriou expects agreement to be reached at February 20 Eurogroup meeting.

Public Policy Brief No. 143

Brazil Still in Troubled Waters

Since inheriting the Brazilian presidency five months ago, the new Temer administration has successfully ratified a constitutional amendment imposing a radical, two-decades-long public spending freeze, purportedly aimed at sparking an increase in business confidence and investment. In this policy brief, Fernando Cardim de Carvalho explains why this fiscal strategy is based not only on a […]

Alt Labour Minister Antonopoulou Highlights Potential of "Social Economy" in Greece

Athens-Macedonian News Agency, February 6, 2017. All Rights Reserved. Developing the social economy in Greece could help stem the emigration of young Greek scientists and professionals abroad, putting the brakes on the so-called "brain drain," Alternate Labour Minister for fighting unemployment Rania Antonopoulou said in an interview with the Athens-Macedonian New Agency (ANA) released on […]

One-Pager No. 53

Falling Labor Force Participation

Aging demographics, “social shifts,” and other supply-side and institutional factors have commonly been blamed for the fall in the US labor force participation rate. However, depressed labor force participation for prime-age workers is likely due to a combination of insufficient aggregate demand, weak job creation, and stagnant wages—all of which have been persistent problems over […]

MME, February 4, 2017

Αποψη: Συμπεράσματα διαλόγου για φορολογικούς συντελεστές, ανάπτυξη

Kathimerini, 4 Φεβρουάριος 2017. Με επιφύλαξη παντός δικαιώματος. Από τις φιλόξενες στήλες της «Καθημερινής», τις τελευταίες εβδομάδες δημοσιεύθηκαν άρθρα ενός γόνιμου διαλόγου με παράθεση πολλών στοιχείων εκατέρωθεν από επιστημονικές μελέτες, για τη σχέση των φορολογικών συντελεστών στις επιχειρήσεις με την ανάπτυξη της οικονομίας…. Διαβάστε περισσότερα κάνοντας ΚΛΙΚ ΕΔΩ: http://www.kathimerini.gr/894902/article/oikonomia/ellhnikh-oikonomia/apoyh-symperasmata-dialogoy-gia-forologikoys-syntelestes-anapty3h

Public Policy Brief No. 142

Full Employment: Are We There Yet?

Flavia Dantas and L. Randall Wray argue that the emerging conventional wisdom—that the US economy has reached full employment—is flawed. The unemployment rate is not providing an accurate picture of the health of the labor market, and the common narrative attributing shrinking labor force engagement to aging demographics is overstated. Instead, falling prime-age participation rates […]

MME, January 23, 2017