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BlogWhy Macron Should Not (and Cannot) Follow the German Model
June 02, 2017 The Economist‘s analysis of Germany’s job market miracle of the past ten years offered in “What the German economic model can teach Emmanuel Macron” is more balanced than the usual accounts one hears in Germany itself. Germans are in love with the idea that structural reform of their labor market and persistent budgetary austerity were [...] Blog -
Working Paper No. 891Stock-flow Consistent Macroeconomic Models
May 24, 2017 The stock-flow consistent (SFC) modeling approach, grounded in the pioneering work of Wynne Godley and James Tobin in the 1970s, has been adopted by a growing number of researchers in...more Publication -
Working Paper No. 890
On the Centrality of Redemption
May 15, 2017 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...more Publication -
EBRD Sees “Enormous Opportunities” in Greece
May 11, 2017 DimitrI B. Papadimitrio comments on the economic outlook for Greece; estimates 2% growth in 2017. News -
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Working Paper No. 889
The Dynamics of Government Bond Yields in the Eurozone
May 08, 2017 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...more Publication -
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On the Concert of Interests and Unlearning the Lessons of the 1930s
April 20, 2017 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 [...] Blog -
Working Paper No. 888
Gender, Socioeconomic Status, and Time Use of Married and Cohabiting Parents during the Great Recession
April 20, 2017 Using data from the 2003–14 American Time Use Survey (ATUS), this paper examines the relationship between the state unemployment rate and the time that opposite-sex couples with children spend on...more Publication -
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Live stream from the 26th Annual Hyman P. Minsky Conference
April 18, 2017 Live coverage of the Minsky ConferencE News -
Strategic AnalysisThe Trump Effect: Is This Time Different?
April 14, 2017 From a macroeconomic point of view, 2016 was an ordinary year in the post–Great Recession period. As in prior years, the conventional forecasts predicted that this would be the year...more Publication -
Policy Note No. 1Inequality Update: Who Gains When Income Grows?
April 06, 2017 Since the 1980s, economic recoveries in the United States have been delivering the vast majority of income growth to the wealthiest households. This policy note updates the analysis in One-Pager...more Publication -
Working Paper No. 887
Trump’s Bait and Switch
March 20, 2017 President Trump’s faux populism may deliver some immediate short-term benefits to the economy, masking the devastating long-term effects from his overall policy strategy. The latter can be termed “welfare state...more Publication -
Working Paper No. 886
How Germany’s Anti-Keynesianism Has Brought Europe to Its Knees
March 03, 2017 This paper investigates the (lack of any lasting) impact of John Maynard Keynes’s General Theory on economic policymaking in Germany. The analysis highlights the interplay between economic history and the...more Publication -
Blog
India’s Unexplored “Bill of Rights”: A Tool for Gender-Sensitive Public Policy
March 03, 2017 The Justice Verma Committee submitted its report on January 23, 2013. In addition to recommendations for reforming laws related to sexual violence, harassment, and trafficking, it provided a comprehensive framework for gender justice through a proposed “Bill of Rights.” The Verma Committee’s recommendations are still waiting to be transformed into public policy. We must not forget [...] Blog -
Working Paper No. 885
Quality of Statistical Match of Household Budget Survey and SILC for Turkey
February 27, 2017 This paper presents the quality analysis of the statistical matching conducted for a research study on household consumption behavior, household indebtedness, and inequality for Turkey. The match has been done...more Publication -
Working Paper No. 884
Gendered Patterns of Time Use over the Life Cycle
February 24, 2017 Using data from the 2006 Turkish Time-Use Survey, we examine gender differences in time allocation among married heterosexual couples over the life cycle. While we find large discrepancies in the...more Publication -
Working Paper No. 883
Fiscal Policy, Economic Growth and Innovation
February 24, 2017 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...more Publication -
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“America First” and Financial Stability: 26th Minsky Conference
February 16, 2017 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 [...] Blog -
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L. Randall Wray on MMT and Positive Money
February 16, 2017 [iframe width=”427″ height=”240″ src=”https://www.youtube.com/embed/-7StbLkjBQk?;start=135″ frameborder=”0″ allowfullscreen></iframe] Blog