Archived Publication Types

This issue of the Summary features two Strategic Analyses, which are focused on the United States and Greece. In the report for the United States the likely impact of President Biden’s infrastructure and families plans is examined to highlight persistent structural weaknesses that continue to threaten the US economy’s stability; the report on the Greek […]

Download Volume 30, No. 3 PDF (6.46 MB)

Modern Money Theory (MMT) has been frequently mentioned in recent media—first as “crazy talk” that if followed would bankrupt the nation and then, after the COVID-19 pandemic hit, as a way to finance an emergency response. In recent months, however, Washington seems to have returned to the old view that government spending must be “paid […]

Download e-pamphlet, August 2021 PDF (3.84 MB)

A trio of publications in this Summary explores how the plumbing of an existing cross-border payment system associated with a private company provides the operational blueprints for a potential revival of John Maynard Keynes’s international clearing union proposal, and how the willingness of central banks to consider electronic currency provides an opening to reconsider this […]

Download Volume 30, No. 2 PDF (1.55 MB)

This issue features two strategic analyses: the first finds that while the disbursement of EU funds would help hasten Greece’s recovery, getting closer to the pre-pandemic growth trend requires further fiscal action; the second, for Italy, cautions that the government’s seeming commitment to use European funds to reduce public debt through expenditure cuts aims at […]

Download Volume 30, No. 1 PDF (1.71 MB)

This issue of the Summary features a Strategic Analysis focused on Greece’s economy in light of the COVID-19 pandemic. Two public policy briefs also highlight pandemic-related issues, with the first focusing on the impact in Greece in light of deep cuts in healthcare expenditures and the second dealing with the implications with respect to inequality […]

Download Volume 29, No. 3 PDF (1.20 MB)

This issue of the Summary features two Strategic Analyses. The first assesses the trends impacting the US economy’s sectoral balances in the context of overvalued asset markets and overleveraged corporate balance sheets; the second, for Greece, identifies the necessary conditions for achieving the government’s campaign promise of 4 percent GDP growth in 2020 and 2021, […]

Download Volume 29, No. 2 PDF (1.34 MB)

This issue of the Summary features L. Randall Wray’s written testimony submitted for a November 20, 2019 hearing before the US House of Representatives’ Budget Committee, where he urged a reexamination of the economic impact of public debt and deficits; prepared by Wray and Yeva Nersisyan, the testimony explains why federal deficits have become the […]

Download Volume 29, No. 1 PDF (1.08 MB)

This issue of the Summary features a Strategic Analysis identifying the four main structural problems for the US economy and how the feedback effects between them explain the 2007–9 crisis and account for the weak recovery that followed, as well as offering an estimate of the macroeconomic benefits of recent proposals designed to reduce inequality […]

Download Volume 28, No. 3 PDF (1.10 MB)

This issue of the Summary features a public policy brief that considers the flaws in the eurozone’s settlement and payment system and a policy note that revisits the fall of Lehman Brothers ten years later. Working papers included in this issue discuss the construction of stock-flow-consistent models that consider the specific features of the economy they […]

Download Volume 28, No. 2 PDF (1.37 MB)

This issue of the Summary features a strategic analysis for Greece, analyzing the sources of the current turnaround in growth and the prospects for increasing the pace of the recovery. A public policy brief in the Distribution of Income and Wealth program updates the Levy Institute Measure of Economic Well-Being (LIMEW) through 2013 to provide […]

Download Volume 28, No. 1 PDF (1.05 MB)

This issue of the Summary features a public policy brief discussing the European Commission’s proposal for regulating sovereign bond-backed securities (SBBS) and presents an alternative approach to addressing the problems that are supposed to be solved by an SBBS scheme. Three policy notes also are included. The first focuses on the nexus between wage employment, […]

Download Volume 27, No. 3 PDF (1.54 MB)

A conference organized by the Levy Economics Institute of Bard College The proceedings include the 2017 conference program, transcripts of keynote speakers’ remarks, synopses of the panel sessions, and biographies of the participants.

Download Conference Proceedings, April 18-19, 2017 PDF (3.60 MB)

This issue of the Summary opens with a policy note regarding the predictions of an impending Chinese “Minsky moment” and the far more likely prospect of another crisis in the United States. It also presents the results of a research project investigating the macroeconomic impact of a one-time cancellation of existing US student loan debt. Working […]

Download Volume 27, No. 2 PDF (2.62 MB)

This issue of the Summary opens with a public policy brief that suggests looking to the postwar clearing union proposals made by John Maynard Keynes and Richard Kahn for insight into possible reforms of the current eurozone financial system. Two policy notes featured in this issue focus on current policy in the United States: the […]

Download Volume 27, No. 1 PDF (831.89 KB)

This issue of the Summary opens with a Strategic Analysis that uses the Institute’s stock-flow model to assess the effect of the Trump administration’s policy promises on the recovery from the Great Recession. A policy note investigates the trends in income inequality in the United States over the past four decades. Working papers included in […]

Download Volume 26, No. 3 PDF (483.04 KB)

A conference organized by the Levy Economics Institute of Bard College with support from the Ford Foundation The 2016 Minsky Conference addressed whether what appears to be a global economic slowdown will jeopardize the implementation and efficiency of Dodd-Frank regulatory reforms, the transition of monetary policy away from zero interest rates, and the “new” normal […]

Download Conference Proceedings, April 12–13, 2016 PDF (963.01 KB)

This issue of the Summary opens with a policy brief that examines the move by Brazil’s Temer administration to impose a radical, two-decades-long public spending freeze aimed at boosting business confidence and investment, and explains why this fiscal strategy is flawed. Working papers included in this issue investigate the long-run determinants of government bond yields […]

Download Volume 26, No. 2 PDF (368.97 KB)

This issue of the Summary opens with a strategic analysis for Greece. Using alternative policy scenarios, the authors demonstrate that cleaning up the government’s arrears accounts and boosting public investment would improve GDP growth, but that growth and employment would best be promoted through the implementation of a direct job creation program underwritten by an […]

Download Volume 26, No. 1 PDF (497.28 KB)

This issue opens with a policy note that traces the “narrow path” ahead for Brazil as the country struggles through a joint economic and political crisis that has paralyzed its policymaking apparatus and constrained its fiscal and monetary policy space. Two related papers examine the role played by Greece’s public debt in that country’s economic […]

Download Volume 25, No. 3 PDF (388.47 KB)

This issue includes two strategic analyses: one for the United States and one for Greece. The first reports that the US recovery continues to be hampered by structural weaknesses—rising income inequality, weak demand for US exports, and fiscal conservatism—while external risks include sluggish growth in US trading partners, dollar appreciation, and asset price declines. Turning […]

Download Volume 25, No. 2 PDF (804.08 KB)

Jordan Brennan, of Unifor and the Canadian Centre for Policy Alternatives, examines the rise of income inequality and the deceleration of economic growth in the United States in this two-part analysis. The first section explores the consolidation of corporate power, through mergers and acquisitions, between 1895 and 2013, and finds that reduced competition, declines in […]

Download e-pamphlet, March 2016 PDF (2.80 MB)

The Winter 2016 Summary opens with a policy brief discussing the implications for euro-area member-states’ fiscal rules should the European Central Bank (ECB) advance the project of a single financial market through the creation of debt certificates. A policy note follows with proposals to ensure that the most recent round of recapitalizations of Greek banks […]

Download Volume 25, No. 1 PDF (596.43 KB)

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 […]

Download Conference Proceedings, April 15–16, 2015 PDF (6.04 MB)

This issue includes the two most recent strategic analyses, for Greece and the United States. The Levy Institute Macro Modeling Team argues that Greece cannot return to economic growth under austerity. The strategic analysis of the US economy follows, and shows that economic growth could easily be undermined by such things as a rising dollar, […]

Download Volume 24, No. 3 PDF (866.70 KB)