Filter by
3536 results found
-
BlogModern Money, Financial Reform, and the Euro Experiment—an Interview with Randall Wray
March 28, 2015 Below is the wide-ranging interview L. Randall Wray gave to EKO – Público TV in Spain as part of the launch of the Spanish edition of his Modern Money Primer (questions in Spanish): [iframe width=”512″ height=”306″ src=”https://www.youtube.com/embed/949JLYr2L90″ frameborder=”0″ allowfullscreen></iframe] Blog -
Blog
Public Banking and Boom Bust Boom
March 24, 2015 While in Spain for the launch of my Modern Money Primer in Spanish, I gave a long interview for Public Television. Parts of that interview are interspersed in this segment on public banking. My interview is in English (with Spanish subtitles), while the rest is in Spanish. Other portions of my interview will be broadcast later. [...] Blog -
Blog
Greek Debt, German History, and the Moral High Ground
March 19, 2015 Dimitri Papadimitriou takes on the assumption that European leaders demanding the continuation of large fiscal surpluses from Greece can claim the moral high ground. The economics behind these demands are unrealistic, and the insistence on full debt repayment is both immoral and imprudent—not to mention deaf to the lessons of history: “Greece’s government and people have indulged in excesses [...] Blog -
Blog
The State of Labor, New Models of Organizing, and the Future of Work
March 18, 2015 The Levy Institute and SEIU 775 are cosponsoring a labor workshop at Bard College on April 20th. The workshop, which is free and open to the public, will focus on three major themes, each corresponding to a panel: The State of the American Labor Movement, The Future of Work, and New Models of Organizing and [...] Blog -
Greek Debt: Do the Right Thing
March 18, 2015 Adjusting the terms of Greece’s debt repayment is an ethical imperative, says Levy President Dimitri Papadimitriou. News -
Greek Debt: Do the Right Thing
March 18, 2015 Adjusting the terms of Greece’s debt repayment is an ethical imperative, says Levy President Dimitri B. Papadimitriou. News -
Blog
The Plunging Euro and Its Muddled Cheerleaders
March 16, 2015 Greg Ip had a couple of pieces on currency wars and gyrations in the Wall Street Journal last week (here and here), essentially arguing that talk about currency warfare is much beside the point and that exchange rate gyrations are merely benevolent side-effects of monetary policies that will inevitably make the whole world better off. [...] Blog -
Working Paper No. 835On the Determinants of Changes in Wage Inequality in Bolivia
March 12, 2015 In recent years, Bolivia has experienced a series of economic and political transformations that have directly affected the labor markets, particularly the salaried urban sector. Real wages have shown strong...more Publication -
Blog
Beyond the Debt Negotiations: Greece’s New Deal?
March 10, 2015 The negotiations over Greece’s public debt and the terms of its bailout agreement have understandably taken center stage. Behind all the twists and turns, the key consideration is that even if the public debt could be repaid through continuing with austerity policies — and there is little reason to believe it can — it would [...] Blog -
Blog
Wray: What’s Wrong with the Euro Setup?
March 10, 2015 In this March 7th presentation, L. Randall Wray argues that the central problem in the EMU is not profligate peripheral nations, trade imbalances, or insufficient “structural reform.” The fundamental issue, which can best be framed through an understanding of money, is a flawed setup — the EMU is designed to fail. La Asociación de Economía [...] Blog -
Blog
Spain’s Proposal for a Job Guarantee
March 05, 2015 Yesterday I participated in a press conference and gave the first of a series of lectures in Madrid on MMT and the Job Guarantee. At the press conference, Alberto Garzón announced his party’s plan to create a million jobs in a targeted JG: “IU plantea un plan de 9.600 millones para crear un millón de [...] Blog -
Blog
The 24th Annual Minsky Conference
March 05, 2015 Is Financial Reregulation Holding Back Finance for the Global Recovery? Organized by the Levy Economics Institute of Bard College with support from the Ford Foundation The National Press Club Washington, D.C. April 15–16, 2015 The 2015 Minsky Conference will address, among other issues, the design, flaws, and current status of the Dodd-Frank Wall Street Reform [...] Blog -
Policy Note No. 3A Decade of Declining Wages
March 04, 2015 In a recent policy note (A Decade of Flat Wages?) we examined wage trends since 1994, and found that while wages grew between 1994 and 2002, average real wages stagnated...more Publication -
Policy Note No. 3
Μια δεκαετία πτωτικής τάσης των μισθών
March 04, 2015 Σε ένα πρόσφατο κείμενο πολιτικής («A Decade of Flat Wages?») εξετάσαμε την εξέλιξη των μισθών από το 1994 και βρήκαμε ότι ενώ οι μισθοί αυξήθηκαν μεταξύ 1994 και 2002, ο...more Publication -
Working Paper No. 834
Does Keynesian Theory Explain Indian Government Bond Yields?
March 03, 2015 John Maynard Keynes held that the central bank’s actions determine long-term interest rates through short-term interest rates and various monetary policy measures. His conjectures about the determinants of long-term interest...more Publication -
Blog
Bitcoin and the Rules of Finance
March 03, 2015 Levy Research Associate Éric Tymoigne contributed to a debate in the Wall Street Journal over the viability of bitcoin and other cryptocurrencies. Here’s Éric: Bitcoins are an odd sort of commodity. They are not financial instruments. The value fluctuates widely, in line with changing views regarding the overall usefulness of the bitcoin payment system and [...] Blog -
Blog
MMT in Madrid: An Update
March 02, 2015 Another event has been added. Hope to meet Spanish followers of MMT in Madrid this week. Here are some details: [iframe src=”//www.slideshare.net/slideshow/embed_code/45294829″ width=”425″ height=”355″ frameborder=”0″ marginwidth=”0″ marginheight=”0″ scrolling=”no” style=”border:1px solid #CCC; border-width:1px; margin-bottom:5px; max-width: 100%;” allowfullscreen> </iframe> <div style=”margin-bottom:5px”> <strong> <a href=”//www.slideshare.net/UmkcEconomists/actos-de-presentacion-del-libro-de-randall-wray-2″ title=”Actos de presentación del libro de randall wray (2)” target=”_blank”>Actos de presentación del [...] Blog -
Blog
Galbraith and Krugman on the Greek Deal
February 28, 2015 If you haven’t read it already, Senior Scholar James Galbraith shared his take on the four-month Greek deal in Social Europe: there was never any chance for a loan agreement that would have wholly freed Greece’s hands. Loan agreements come with conditions. The only choices were an agreement with conditions, or no agreement and no conditions. [...] Blog -
Blog
The Greek Debt Problem and Selective Historical Memory
February 27, 2015 Michalis Nikiforos, Dimitri Papadimitriou, and Gennaro Zezza, who put together the Levy Institute’s stock-flow consistent macroeconomic model and simulations for Greece, have just released a new policy note, the upshot of which is that restructuring Greece’s unsustainable public debt is a necessary but not sufficient condition for a sustained economic recovery in that country. They [...] Blog -
Blog
Papadimitriou on Greece’s Four-Month Extension
February 25, 2015 Levy Institute President Dimitri Papadimitriou discusses the four-month extension of Greece’s bailout agreement with its eurozone partners and the mood in Athens in this interview with Kathleen Hays and Vonnie Quinn. Blog -
Blog
The Spanish Launch of Modern Money Theory
February 25, 2015 Update 2/28: more details here. Sorry, I’ve been very busy in recent weeks, finishing up a book on Minsky and revising my Modern Money Primer for a second edition (more on both of those projects later). Meanwhile, Lola Books is gearing up to release the Primer in Spanish next week. I’ll be in Madrid for [...] Blog -
Blog
What’s Wrong with David Leonhardt’s NYT Piece on Inequality?
February 20, 2015 The New York Times made waves this week with another piece on inequality, saying that it has not risen since 2007. The article was based on this paper by GWU’s Stephen Rose. The article also suggests that expansions are not a good way of looking at trends in inequality (as I have done in the [...] Blog -
Blog
Video: James Galbraith on the Latest Eurogroup Meeting
February 19, 2015 In the interview below, James Galbraith provides a behind-the-scenes account of the latest rebuff of Greece’s offer by German Finance Minister Wolfgang Schäuble and talks about what lies ahead (in English and Greek): [iframe width=”448″ height=”252″ src=”https://www.youtube.com/embed/_dI75VJUpZY?feature=player_detailpage” frameborder=”0″ allowfullscreen></iframe] Blog -
Blog
Greece Wants to Save Europe, but Can It Persuade Europeans?
February 18, 2015 Most analysis of the Greek debt crisis ignores an important reality: While Greece may be the villain du jour, every eurozone nation is profoundly short of cash. That’s because of a well-acknowledged, but not fully appreciated, flaw at the heart of eurozone financial architecture that converted a historically unprecedented number of nations from issuers of [...] Blog