Ford-Levy Institute Project

Financial Instability and the Reregulation of Financial Institutions and Markets

In 2008, the Ford Foundation awarded the Levy Economics Institute of Bard College a multiyear grant to conduct research on the nature and dynamics of the crisis in the US subprime mortgage market, and to generate a new regulatory framework to address it. This project is administered by the Institute's Monetary Policy and Financial Structure program under the supervision of Jan Kregel. Its analytical framework is based on the work of the late financial economist Hyman Minsky, a Levy Distinguished Scholar who considered financial crises an endemic, permanent internal process of any capitalist system. From this point of view, the current crisis is not a peculiar event but rather a natural response of financial markets to a period of relative stability and innovations in risk management.

For more info: Financial Instability and the Reregulation of Financial Institutions and Markets

A Research and Policy Dialogue Project on Improving Governance of the Government Safety Net in Financial Crisis

Underwritten by the Ford Foundation and directed by Senior Scholar L. Randall Wray, this two-year project will explore alternative methods of providing a government safety net in times of financial crisis. It is an integral component of the ongoing work being done under the umbrella of the Ford–Levy Institute Project on Financial Instability and the Reregulation of Financial Institutions and Markets. An overview of the project and a list of the core issues that will be addressed are available below.

For more info: A Research and Policy Dialogue Project on Improving Governance of the Government Safety Net in Financial Crisis

Project Director

Project Director