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BlogKregel on the Vulture Funds
Jan Kregel, the Levy Institute’s director of research, was recently interviewed by the Buenos Aires Herald regarding Argentina’s economic prospects and its ongoing situation with the “vulture funds.” On Argentina’s policy challenges: So there are no alternatives to devaluation? Argentina has one net advantage. As a result of the vulture funds it’s relatively insulated from the global crisis. Now [...] -
Kregel: “Do nothing about vulture funds; let the case sit there”
Buenos Aires Herald, September 27, 2015. All Rights Reserved. Jan Kregel, one of the world’s most eminent Post-Keynesian economists specialized in financial crises and structural problems of developing economies, has written several papers on Argentina’s economy after the 2001–2002 economic meltdown. The director of research at the Levy Economics Institute at Bard College in upstate New […] -
Jan Kregel: “Lo importante es generar empleo”
Página|12, 26 Septiembre 2015. Reservados todos los derechos. “No se puede mirar el crecimiento económico sin empleo. Si se va a desarrollar la economía, no importa la tasa de inversión o de crecimiento si no se genera empleo”, destacó el prestigioso economista estadounidense Jan Kregel, durante su intervención en el Congreso sobre Pensamiento Económico Latinoamericano. […] -
Blog
Endogenous Financial Fragility in Brazil: Does Brazil’s National Development Bank Reduce External Fragility?
by Felipe Rezende Introduction The creation of new sources of financing and funding are at the center of discussions to promote real capital development in Brazil. It has been suggested that access to capital markets and long-term investors are a possible solution to the dilemma faced by Brazil’s increasing financing requirements (such as infrastructure investment [...] -
Research Project ReportThe Impact of Public Investment in Social Care Services on Employment, Gender Equality, and Poverty
Produced in partnership with the International Labour Organization, United Nations Development Programme, and UN Women, this report examines the demand-side rationale for a public investment in the social care sector—specifically, early childhood care and preschool education (ECCPE)—by comparing its potential for job creation, pro-women allocation of jobs, and poverty reduction with an equivalent investment in […] -
Alexis Tsipras and Greece Are Still Trapped
The New Yorker, September 21, 2015. All Rights Reserved. How long will the smile on the face of Alexis Tsipras last? On Monday night, Tsipras was sworn in as the head of a new Greek government that looks very similar to the previous one. The left-wing Syriza party is again forming a coalition with a small […] -
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Reactions to S&P Downgrade: S&P Analyst Confirms There Is No Solvency Issue
by Felipe Rezende In previous posts (see here and here), I discussed Standard & Poor’s (S&P) downgrade of Brazil’s long-term foreign currency sovereign credit rating to junk status, that is, to ‘BB+’ from ‘BBB-‘, and its decision to downgrade Brazil’s local currency debt to a single notch above “junk” status. S&P hosted a conference call [...] -
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Credit Rating Agencies and Brazil: Why the S&P’s Rating of Brazil’s Sovereign Debt Is Nonsense
by Felipe Rezende So S&P has downgraded Brazil’s rating on long-term foreign currency debt to junk and lowered its long-term local currency sovereign credit rating to ‘BBB-‘ from ‘BBB+’. First, what are sovereign debt ratings? Standard & Poor’s sovereign rating is defined as follows: A current opinion of the creditworthiness of a sovereign government, where [...] -
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Levy MS Program Now Accepting Applications for Fall 2016
The Levy Economics Institute Master of Science in Economic Theory and Policy is a two-year degree program that emphasizes theoretical and empirical aspects of economic policy analysis through specialization in one of five key research areas: macroeconomic theory, policy, and modeling; monetary policy and financial structure; distribution of income, wealth, and well-being; gender equality and [...] -
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Binzagr Institute Inaugural Conference: Sustainable Full Employment and Transformational Technologies
The Binzagr Institute for Sustainable Prosperity is holding its inaugural conference — Provisioning and Prosperity: Sustainable Full Employment and Transformational Technologies — October 2nd-3rd at Denison University. For those who cannot attend, the event will be livestreamed (and questions can be posed via Facebook and Twitter @BinzagrInfo). More information on registration and conference themes can be [...] -
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Euroland Has No Plan B: It Needs an Urgent Recovery Plan
At last, the eurozone economy appears to be experiencing some kind of recovery. GDP started growing again in the spring of 2013, following seven quarters of decline, with domestic demand shrinking for even nine consecutive quarters between 2011 and 2013. Today, it is conceivable that within a year or so the eurozone might recoup its [...] -
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Second Edition of the Modern Money Primer
The second edition of L. Randall Wray’s Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems, an updated and expanded version with new chapters on tax policy and inflation, is now available for order and will be released September 23rd: “This book synthesizes the key principles of Modern Money Theory, exploring macro accounting, monetary and fiscal policy, currency [...]