Filter by
4188 results found
-
BlogMMT and the New New Deal
Yesterday, Senator Bernie Sanders gave an important speech in which he invoked President Roosevelt’s “Second Bill of Rights” in defense of his platform. As Bernie rightly pointed out, all of Roosevelt’s New Deal social programs to which we have become accustomed were tagged as “socialism”—just as pundits are branding Bernie’s proposals as dangerous socialist ideas. [...] -
Public Policy Brief No. 140The ECB, the Single Financial Market, and a Revision of the Euro Area Fiscal Rules
Mario Tonveronachi, University of Siena, builds on his earlier proposal (The ECB and the Single European Financial Market) to advance financial market integration in Europe through the creation of a single benchmark yield curve based on debt certificates (DCs) issued by the European Central Bank (ECB). In this policy brief, Tonveronachi discusses potential changes to […] -
Working Paper No. 854The Roads Not Taken
Standard presentations of stock-flow consistent modeling use specific Post Keynesian closures, even though a given stock-flow accounting structure supports various different economic dynamics. In this paper we separate the dynamic closure from the accounting constraints and cast the latter in the language of graph theory. The graph formulation provides (1) a representation of an economy […] -
Greek Banks Ask Investors to Take Uncertain Leap of Faith
Bloomberg, November 13, 2015. All Rights Reserved. The National Bank of Greece SA and Eurobank Ergasias SA joined Piraeus Bank SA and Alpha Bank AE on Thursday in starting book-building processes as they seek to fill part of 14.4 billion-euro ($15.5 billion) hole in their accounts identified by the European Central Bank. The state-owned Hellenic […] -
Blog
Can Public Money Creation Work? Some Answers from Canadian History
by Josh Ryan-Collins The theoretical and policy arguments for monetary reform are becoming more accepted by economists and establishment figures. The financial crisis blew apart the idea that deregulated private money creation by commercial banks leads to more efficient outcomes and allocation of capital, as has been noted by Martin Wolf of the Financial Times [...] -
Recapitalization of Battered Greek Banks Entering Critical Phase, New Levy Economics Institute Report Says
Investorideas.com, November 12, 2015. All Rights Reserved. The battered Greek banks will soon face yet another round of recapitalization this November and December. For the banks to have any prospect of returning to their precrisis role as liquidity providers to the Greek economy, it is imperative that the country’s EU creditors and supervisors avoid the […] -
Press ReleaseRecapitalization of Battered Greek Banks Entering Critical Phase, New Levy Economics Institute Report Says
-
Blog
New Book on EU Financial Regulation
A new volume on EU financial regulation edited by Rainer Kattel, Jan Kregel, and Mario Tonveronachi: Have past and more recent regulatory changes contributed to increased financial stability in the European Union (EU), or have they improved the efficiency of individual banks and national financial systems within the EU? Edited by Rainer Kattel, Tallinn University of Technology, [...] -
Conference Proceedings
Is Financial Reregulation Holding Back Finance for the Global Recovery?
A conference organized by the Levy Economics Institute of Bard College with support from the Ford Foundation The 2015 Minsky Conference addressed, among other issues, the design, flaws, and current status of the Dodd-Frank Wall Street Reform Act, including implementation of the operating procedures necessary to curtail systemic risk and prevent future crises; the insistence […] -
Blog
25th Annual Minsky Conference Returns to Blithewood
The 2016 Minsky conference will be held here at Blithewood mansion, home of the Levy Institute. Barney Frank will be among the keynote speakers: Will the Global Economic Environment Constrain US Growth and Employment? Organized by the Levy Economics Institute of Bard College with support from the Ford Foundation Levy Economics Institute of Bard College Blithewood Annandale-on-Hudson, [...] -
Working Paper No. 853
Finance, Foreign Direct Investment, and Dutch Disease
In recent years, Colombia has grown relatively rapidly, but it has been a biased growth. The energy sector (the “locomotora minero-energetica,” to use the rhetorical expression of President Juan Manuel Santos) grew much faster than the rest of the economy, while the manufacturing sector registered a negative rate of growth. These are classic symptoms of […] -
Book SeriesFinancial Regulation in the European Union
Have past and more recent regulatory changes contributed to increased financial stability in the European Union (EU), or have they improved the efficiency of individual banks and national financial systems within the EU? Edited by Rainer Kattel, Tallinn University of Technology, Director of Research Jan Kregel, and Mario Tonveronachi, University of Siena, this volume offers […]