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BlogTcherneva: 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. 871Simulations 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 […] -
Time for a US Job Guarantee?
RT America TV, August 9, 2016. All Rights Reserved. Research Associate Pavlina R. Tcherneva appears on "Boom Bust" to discuss sluggish growth, labor markets, and her proposal for a job guarantee. Watch here: https://www.youtube.com/watch?v=GvFliCk1osE#t=13m15s -
Blog
Brexit Dilemma: Why Did the UK Reduce Interest Rates to Only 0.25 Percent Today?
by Abhishek Anand and Lekha Chakraborty [1] The global market was eagerly waiting for the July Monetary Policy Statement of the Bank of England (BoE). Speculation was rife that, post Brexit, the BoE would become the latest entrant into the set of central banks experimenting with negative interest rate policy (NIRP) in a desperate bid to reinvigorate [...] -
Policy Notes No. 3The Impact of Immigration on the Native-born Unemployed
In this policy note, Research Scholar Fernando Rios-Avila and Gustavo Canavire-Bacarreza, Universidad EAFIT, observe that immigration in the United States has a small but statistically significant impact on the labor market behavior of native-born unemployed workers. Their chances of transitioning from unemployment to employment are not affected by the share of immigrants in their job […] -
Working Paper No. 870
Unemployed, Now What?
Although one would expect the unemployed to be the population most likely affected by immigration, most of the studies have concentrated on investigating the effects immigration has on the employed population. Little is known of the effects of immigration on labor market transitions out of unemployment. Using the basic monthly Current Population Survey from 2001–13 […] -
Minsky’s Moment
The Economist, July 28, 2016. All Rights Reserved. From the start of his academic career in the 1950s until 1996, when he died, Hyman Minsky laboured in relative obscurity. His research about financial crises and their causes attracted a few devoted admirers but little mainstream attention: this newspaper cited him only once while he was […] -
Blog
New Book: Rethinking Capitalism
A new book edited by Michael Jacobs and Mariana Mazzucato and featuring contributions from Joseph Stiglitz, L. Randall Wray, Stephanie Kelton, and others will be released tomorrow: The TOC is below: You can download the introductory chapter here (pdf). -
Connecting the Dots: Debt, Savings and the Need for a Fiscal Growth Policy
Public Debt Project, July 14, 2016. All Rights Reserved. Twice in the second half of the twentieth century, in the midst of a robust economy, economists optimistically talked about the taming and even “the death of the business cycle” based on the belief that advances in macroeconomics had reached a point of perfection. Yet, both […] -
Blog
Wray on Revenue, Redemption, and When Austerity Is Justified
L. Randall Wray has an essay in the recent issue of the World Economic Review. Wray’s target is the belief that “government needs tax revenue to pay for most (or even all) of its spending.” According to Wray, a version of this belief distorts our understanding of what are the limits of, say, the US federal government’s [...] -
Keep Unemployment From Mushrooming With Preventative Policies
The New York Times, July 11, 2016. All Rights Reserved. Though job growth surged in June, by and large, this recovery has been the slowest in postwar history and 7.8 million people continue to look, unsuccessfully, for work. There is nothing inevitable or natural about jobless recoveries…. Read more: http://www.nytimes.com/roomfordebate/2016/07/11/are-we-ready-for-the-next-recession/keep-unemployment-from-mushrooming-with-preventative-policies