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BlogL. Randall Wray on the Radical Imagination
Jim Vrettos, a sociologist at John Jay College and host of “The Radical Imagination”, interviewed the Levy Institute’s Randy Wray on how the discipline of economics has gone astray. Wray’s story begins in the late 1960s, with what he describes as a reaction against “New Deal economics.” The interview ends with a discussion of the [...] -
Minsky’s Moment
The second in a series of articles on seminal economic ideas looks at Hyman Minsky’s hypothesis that booms sow the seeds of busts. -
Imagining Economics in an Age of Stein, Clinton, Trump, or Johnson
Manhattan Neighborhood Network, August 25, 2016. All Rights Reserved. "Radical Imagination" host Jim Vrettos talks to Senior Scholar L. Randall Wray about what the US economy might look like under a Stein, Clinton, Trump, or Johnson administration. Full video of the interview is available here. -
Working Paper No. 872Federalism, Fiscal Space, and Public Investment Spending
The primary objective of rule-based fiscal legislation at the subnational level in India is to achieve debt sustainability by placing a ceiling on borrowing and the use of borrowed resources for public capital investment by phasing out deficits in the budget revenue account. This paper examines whether the application of fiscal rules has contributed to […] -
Blog
Minsky Meets Brazil (Part II)
by Felipe Rezende This series will discuss at length the underlying forces behind Brazil’s current crisis. (See Part I here) Part II Building on Keynes’s investment theory of the cycle, Minsky’s work suggests that the structure of the economy becomes more fragile over a period of tranquility and prosperity. That is, endogenous processes breed financial [...] -
Blog
Tcherneva: Time for a US Job Guarantee (Part 2)
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Blog
JM Keynes Writings Project
A crowdfunding campaign starting October 2016, on Indiegogo: Overall aim: To complete the publication of all of Keynes’s remaining unpublished writings of academic significance. Only about one third were published in the Royal Economic Society edition. A huge quantity of valuable unpublished material remains, scattered across 60 archives in 6 countries. Aim of this campaign: Preparation of [...] -
Hillary Clinton’s Economic Dream Team
The Week, August 22, 2016. All Rights Reserved. The election isn’t here yet, but it’s looking more and more likely Hillary Clinton will trounce Donald Trump in November. Speculation over who she might appoint as advisors and agency heads has already commenced. And like anyone else, I have got my own opinions about who Clinton should pick, […] -
Tcherneva on Job Guarantee over a Basic Income
RT America, August 20, 2016. All Rights Reserved. In this interview on "Boom Bust" Research Associate Pavlina R. Tcherneva advocates in favor of a public job guarantee program over universal basic income as a means of alleviating poverty and stabilizing the business cycle. (Interview begins at 15:00.) Watch here: https://www.rt.com/shows/boom-bust/356572-louisiana-crisis-turkey-economy/ -
Blog
Tcherneva: Time for a US Job Guarantee
[iframe width=”427″ height=”240″ src=”https://www.youtube.com/embed/GvFliCk1osE?;start=800″ frameborder=”0″ allowfullscreen></iframe] -
Blog
Minsky Meets Brazil
by Felipe Rezende This is the first in a series of blog posts on the Brazilian crisis. Part I A consensus has emerged in Brazil (and elsewhere) blaming Rousseff’s “new economic matrix” policies for the country’s worst crisis since the Great Depression (see here, here, here, here, and here). With the introduction of policy stimulus [...] -
Working Paper No. 871
Simulations of Employment for Individuals in LIMTCP Consumption-poor Households in Tanzania and Ghana, 2012
New methodology for producing employment microsimulations is introduced, with a focus on farms and household nonfarm enterprises. Previous simulations have not dealt with the issue of reduced production in farm and nonfarm household enterprises when household members are placed in paid employment. In this paper, we present a method for addressing the tradeoff between paid […]