Filter by
3527 results found
-
BlogThe Allure of Dysfunctional Finance and the Power of Agenda Setting
April 05, 2013 Here are today’s big pieces of economic policy news: (1) net job creation in the month of March (+88,000) was too low to keep up with population growth; (2) the president’s budget proposal will reportedly include cuts to Medicare and Social Security (or as the latter will be described in most newspapers, “adjustments to the [...] Blog -
Blog
QE Catastrophizing
April 04, 2013 There have been many concerns expressed on the internet about the eventual necessity of reversing the Fed’s cheap-money policies, which include “quantitative easing,” as well as a near-zero federal funds rate. One idea some have is that there are “too many bonds” in the Fed’s portfolio, and that problems will occur with insufficient demand whenever [...] Blog -
Blog
Jan Kregel on the Causes and Consequences of the Greek Crisis
April 03, 2013 From Mariana Mazzucato’s “Rethinking the State” series. Blog -
Blog
Will Fiscal Austerity Work Now?
March 29, 2013 An update on some developments on the fiscal-trap front: After a Levy brief on fiscal traps was issued in November, events continue to bear out the fears expressed therein that budget cuts and tax increases being implemented in Europe and the US would lead to disaster. For example, recent news coverage of events surrounding the [...] Blog -
Working Paper No. 761Currency Concerns under Uncertainty
March 29, 2013 The recent declines in China’s financial account balance ended the “twin surplus” era and led to a modest decline in the stock of official reserves, which reflects a reversal in...more Publication -
Blog
How Much Fiscal Stimulus Do We Need?
March 28, 2013 How much fiscal stimulus would the government need to inject into the economy over the next two years in order to get the unemployment rate into the 5.5–5.9 percent range? In their newest strategic analysis, Dimitri Papadimitriou, Greg Hannsgen, and Michalis Nikiforos provide us with some harrowing answers. The authors lay out a scenario (“scenario [...] Blog -
Working Paper No. 760
Indirect Domestic Value Added in Mexico’s Manufacturing Exports, by Origin and Destination Sector
March 26, 2013 As domestic exports usually require imported inputs, the value of exports differs from the domestic value added contained in exports. The higher the domestic value added contained in exports, the...more Publication -
Blog
Kregel and Galbraith on the Euro Crisis
March 26, 2013 Earlier this month the Athens Development and Governance Institute and the Levy Economics Institute held a forum on the eurozone crisis: “Exiting the Crisis: The Challenge of an Alternative Policy Roadmap.” Below are the remarks delivered by senior scholars Jan Kregel and James Galbraith. Blog -
Blog
Polychroniou on a Post-Keynesian Political Economy for the 21st Century
March 21, 2013 In a new, wide-ranging policy note, C. J. Polychroniou traces the roots and evolution of the present “era of global neoliberalism”; an era he portrays as mired in perpetual crisis and dysfunction, and ripe for change. [N]eoliberalism itself is more of an ideological construct than a solidly grounded theoretical approach or an empirically-derived methodology. In [...] Blog -
Strategic AnalysisΙσχύει ακόμη η σύνδεση παραγωγής και δημιουργίας θέσεων εργασίας;
March 19, 2013 Καθώς ετοιμάζεται να δημοσιευθεί η παρούσα έκθεση, η ανεργία παραμένει σε εξαιρετικά υψηλά επίπεδα ακόμη και σε σχέση με ανάλογα χρονικά σημεία από προηγούμενες περιόδους οικονομικής ανάκαμψης. Η οικονομία των...more Publication -
Strategic Analysis
Is the Link between Output and Jobs Broken?
March 19, 2013 As this report goes to press, the official unemployment rate remains tragically elevated, compared even to rates at similar points in previous recoveries. The US economy seems once again to...more Publication -
Blog
Papadimitriou on the Cyprus Crisis
March 19, 2013 Yesterday, Dimitri Papadimitriou joined Ian Masters to discuss the response to the banking crisis in Cyprus. The plan on the table, in which Cypriot banks would impose a deposit tax (9.9 percent on deposits above €100,000, and 6.75 on deposits below that) in order to gain access to a €10 billion bailout from the troika, [...] Blog -
Working Paper No. 759
Wages, Exchange Rates, and the Great Inflation Moderation
March 18, 2013 Several explanations of the “great inflation moderation” (1982–2006) have been put forth, the most popular being that inflation was tamed due to good monetary policy, good luck (exogenous shocks such...more Publication -
Working Paper No. 758
How the Fed Reanimated Wall Street
March 14, 2013 Walter Bagehot’s putative principles of lending in liquidity crises—to lend freely to solvent banks with good collateral but at penalty rates—have served as a theoretical basis for thinking about the...more Publication -
Policy Note No. 2Toward a Post-Keynesian Political Economy for the 21st Century
March 12, 2013 The global economy is in trouble. Indeed, the era of global neoliberalism, while still supreme, is fraught with serious problems and contradictions, as evidenced by both the recent global financial...more Publication -
Working Paper No. 757
Expanding Social Protection in Developing Countries
March 11, 2013 This paper discusses social protection initiatives in the context of developing countries and explores the opportunities they present for promoting a gender-equality agenda and women’s empowerment. The paper begins with...more Publication -
Blog
The Way We Talk (and Don’t Talk) About Money
March 07, 2013 Victoria Chick, a student of Hyman Minsky’s, elaborates on an issue that often strikes non-economists as somewhere between scandalous and baffling: the absence of any substantive acknowledgment of money in much of contemporary economics and economic modelling. (Particularly interesting around the 12:10 mark, where Chick argues that faulty or outdated language in relation to banking [...] Blog -
Blog
What to Do When Reality Refuses to Cooperate With Your Theory, Greek Edition
March 06, 2013 The evident failure of the ongoing austerity and “structural adjustment” experiments in Greece and the rest of the eurozone might have prompted some reconsideration of the intellectual foundations of those policies. Instead, as C. J. Polychroniou observes in his latest policy note, one notable reaction seems to have been to blame the test subjects: In [...] Blog -
Blog
Seminar: William Janeway on Doing Capitalism in the Innovation Economy
February 28, 2013 The Bard Economics Program and the Levy Economics Institute present: William H. Janeway Institute for New Economic Thinking and Warburg Pincus Technology Monday, March 4, 2013 4:45 p.m. Bard College Reem-Kayden Center for Science and Computation (RKC), Room 103 Excerpt from Doing Capitalism: “The Innovation Economy begins with discovery and culminates in speculation. Over some [...] Blog -
Blog
Exiting the Crisis: The Challenge of an Alternative Policy Roadmap
February 27, 2013 A forum organized by the Athens Development and Governance Institute and the Levy Economics Institute — “Exiting the Crisis: The Challenge of an Alternative Policy Roadmap” — will take place in Athens, Greece on March 8–9. The Levy Institute’s Dimitri Papadimitriou, James Galbraith, Jan Kregel, and Rania Antonopoulos are among the academics, journalists, politicians, and [...] Blog -
Blog
On Financial Transaction Taxes and Nonsense-Powered Economic Headwinds
February 25, 2013 Randall Wray joined Suzi Weissman on her “Beneath the Surface” radio show on Friday. They began the interview with a discussion of the policy blunders that are creating headwinds for the US economy, including the expiration of the payroll tax cut, the decline of real per capita government spending, and, as Wray put it, “the [...] Blog -
Blog
Wray, Partnoy, and Brenner on the Economic Crisis
February 24, 2013 Tomorrow at UCLA, Randall Wray, Frank Partnoy, and Robert Brenner will discuss “The Economic Crisis: Causes, Consequences, and What’s Next” as part of the annual colloquium series of the Center for Social Theory and Comparative History. The speakers will consider the origins and results of the ongoing global economic crisis. They will give special attention to [...] Blog -
Blog
It’s Time to Shift the Focus of the Deficit Debate
February 22, 2013 The Congressional Budget Office’s latest report on the budget outlook revealed (perhaps unintentionally) that fixating on Congress and the President as the central players in the federal deficit drama is a mistake. According to the CBO, the path the federal budget deficit will follow over the next 10 years is just as much (if not [...] Blog -
Blog
Legends of the Greek Fall
February 21, 2013 Why has the world’s premiere deficit-reduction laboratory produced such a dismal failure? European leadership still expects the painful über austerity measures imposed on Greece to result in a dramatic improvement of its debt to GDP ratio. But the experiment in endurance is not succeeding for an important reason: Austerity programs have been rooted in myths [...] Blog