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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

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 […]

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“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 […]

Papadimitriou on Greek Economy, 2017 Budget

Bloomberg News, December 12, 2017. All Rights Reserved. Dimitri B. Papadimitriou, president of the Levy Institute and Minister of Economy and Development for Greece, talks to Bloomberg's Mike McKee about the country's 2017 budget plan, GDP growth forecast, and expectations for concluding its second bailout review later this month. Read more: http://www.bloomberg.com/news/videos/2016-12-12/papadimitriou-on-greek-economy-2017-budget 

Working Paper No. 878

The Short- and Long-run Inconsistency of the Expansionary Austerity Theory

This paper provides a critical analysis of expansionary austerity theory (EAT). The focus is on the theoretical weaknesses of EAT—the extreme circumstances and fragile assumptions under which expansionary consolidations might actually take place. The paper presents a simple theoretical model that takes inspiration from both the post-Keynesian and evolutionary/institutionalist traditions. First, it demonstrates that well-designed […]

Bloomberg Interview: Programma αμεσα δημιουργήθηκε θέσεων εργασίας σε συνθήκες σύνθεσης κρίσης στην Ελλάδα

Give Greece Credit, Even Just for Treading Water

Bloomberg, December 6, 2016. All Rights Reserved. Here are two things I'll bet most people don't know about Greece. The country's just-appointed minister of economy and development, Dimitri Papadimitriou, was lured away from his position as head of the Levy Economics Institute at Bard College in America. He's not a member of the ruling Syriza party. […]

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Call for Papers: Gender and Macro Workshop in NYC

New York City September 13–15, 2017 A workshop organized by the Levy Economics Institute of Bard College with the generous support of The William and Flora Hewlett Foundation The goal of this workshop is to advance the current framework that integrates gender and unpaid work into macroeconomic analysis and enables the development of gender-aware and [...]