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Working Paper No. 798Quality of Match for Statistical Matches Using the American Time Use Survey 2010, the Survey of Consumer Finances 2010, and the Annual Social and Economic Supplement 2011
This paper describes the quality of the statistical matching between the March 2011 supplement to the Current Population Survey and the 2010 American Time Use Survey and Survey of Consumer Finances, which are used as the basis for the 2010 LIMEW estimates for the United States. In the first part of the paper, the alignment […] -
Press ReleaseRising Inequality and Dependence on Excessive Private Borrowing Threaten Sustainability of US Economic Recovery, New Levy Economics Institute Study Says
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CEA’s Furman Looks at “Great Moderation”
MoneyNews, April 30, 2014. All Rights Reserved. Jason Furman, the brilliant economist who chairs the Council of Economic Advisers, spoke recently at the 23rd Annual Hyman Minsky Conference, sponsored by the Levy Economics Institute of Bard College. The title of Furman’s presentation was "Whatever Happened to the Great Moderation?" He argued that with the right […] -
Rep. Maloney Attacks Ryan Budget — Part I
MoneyNews, April 28, 2014. All Rights Reserved. Rep. Carolyn Maloney, D-N.Y., spoke at the 23rd Annual Hyman P. Minsky Conference, held in Washington at the National Press Club recently. The conference was sponsored by the Levy Economics Institute of Bard College, an independent group that “encourages diversity of opinion in the examination of economic policy […] -
Strategic AnalysisIs Rising Inequality a Hindrance to the US Economic Recovery?
The US economy has been expanding moderately since the official end of the Great Recession in 2009. The budget deficit has been steadily decreasing, inflation has remained in check, and the unemployment rate has fallen to 6.7 percent. The restrictive fiscal policy stance of the past three years has exerted a negative influence on aggregate […] -
Strategic Analysis
Αποτελεί η αυξανόμενη ανισότητα εμπόδιο στην οικονομική ανάκαμψη των ΗΠΑ;
Η οικονομία των Ηνωμένων Πολιτειών αναπτύσσεται με μέτριο ρυθμό μετά από την επίσημη λήξη της Ύφεσης το 2009. Το έλλειμμα του προϋπολογισμού μειώνεται σταθερά, ο πληθωρισμός βρίσκεται υπό έλεγχο και το ποσοστό ανεργίας μειώθηκε από 9,8% στο 6,7% (τον Μάρτιο του 2014). Η περιοριστική δημοσιονομική πολιτική των τελευταίων τριών ετών έχει ασκήσει αρνητική επίδραση στη […] -
BlogThe Reality of the Present and the Challenge of the Future: Fagg Foster for the 21st Century
(Here is a presentation I gave at the University of Denver at the annual J. Fagg Foster honors ceremony. Most of you will not know of Foster, but you should. While he did not publish much, he was the professor of a number of prominent institutionalists who attended DU in the early postwar period. I [...] -
Working Paper No. 797
Gender-responsive Budgeting as Fiscal Innovation
Gender-responsive budgeting (GRB) is a fiscal innovation. Innovation, for the purposes of this paper, is defined as a way of transforming a new concept into tangible processes, resources, and institutional mechanisms in which a benefit meets identified problems. GRB is a fiscal innovation in that it translates gender commitments into fiscal commitments by applying a […] -
FOMC Member Evans Calls For More Aggressive Monetary Policy
MoneyNews, April 22, 2014. All Rights Reserved. Charles Evans, president of the Federal Reserve Bank of Chicago and a leading dove of the Federal Open Market Committee (FOMC), delivered a speech April 9 titled "Monetary Goals and Strategy" to the 23rd annual Hyman Minsky Conference, which is sponsored by the Levy Institute of Bard College […] -
Blog
Distribution, Stagnation, and Macro Policy in an Interactive Model
The funny-shaped surface in the Wolfram “CDF” below (software download link) depicts excess demand for goods. The flat one represents the zero line where supply and demand are equal. On each axis is a variable that affects the degree to which demand outpaces or falls short of supply: (1) firms’ share in the price of [...] -
Blog
Minsky and Financial Reform’s “Never Ending” Struggle
In a new policy brief, Jan Kregel looks at a lesser-known, early period of Minsky’s work on financial reform. In the ’60s, Minsky was a consultant to a number of government agencies, including the Federal Reserve, on issues related to financial regulation. In this context, he came up with a new approach to bank examination, [...] -
Blog
Charles Evans on Missing the Fed’s Targets
Chicago Fed President Charles Evans spoke at last week’s Minsky conference, and news reports have focused on his comments regarding the expectation that the Federal Reserve will wait at least six months after the end of QE before beginning to raise interest rates (Evans: “It could be six, it could be 16 months”; “If I [...]