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Press ReleaseSignificant Increase in Fiscal Stimulus Needed to Reduce Unemployment and Spur Growth, New Levy Study Says
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Press Release
European Debt Crisis Far from Over, New Levy Economics Institute Study Says
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BlogWill Germany Break Out of the Box It Has Put Itself In?
In a radio segment for Ian Masters’ “Background Briefing,” Dimitri Papadimitriou speculates that Germany might just end up being the eurozone country that decides it’s not worth staying in the union. Germany, says Papadimitriou, has boxed itself in such that, as one of the only eurozone countries that’s growing, it must ultimately bear the major [...] -
Blog
Would a Substantial Fall in Unemployment Help Single-parent Families?
(click to enlarge) Has the tough labor market of the past five years caused an increase in the severity of the economic problems facing women who are raising children mostly on their own? In this blog entry, we provide updated information on a topic featured in a 2010 post to this blog. The idea [...] -
Blog
More Confusion About Eurozone Debt
The Washington Post is casually informing its readers that the eurozone’s austerity programs are really aimed at addressing all that government profligacy everyone knows was rampant in the run up to the crisis. This seems like another good opportunity to post this chart, showing net debt as a percentage of GDP in some key eurozone [...] -
Productivity, the Miracle of Compound Interest, and Poverty
Naked Capitalism, April 22, 2012. Copyright © 2006, 2007, 2008, 2009, 2010, 2011 Aurora Advisors Incorporated. All Rights Reserved. Research Associate Michael Hudson looks at the disconnect between the enormous productivity gains in the postwar era and the failed promise of a leisure economy. The full post is available here. -
Blog
Beyond the Minsky Moment
From the Introduction to Beyond the Minsky Moment, a recent publication of the Levy Institute’s program on Monetary Policy and Financial Structure: A new era of reform cannot be simply a series of piecemeal changes. Rather, a thorough, integrated approach to our economic problems must be developed; policy must range over the entire economic landscape and [...] -
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Eurozone Crisis 2.0
Although some considered (or pretended to consider) the eurozone crisis to have been “solved” with the last Greek bailout/bond swap, reality “begs to differ,” says C. J. Polychroniou. In his latest one-pager, Polychroniou provides an update on the status of “eurozone crisis 2.0” as the spotlight shifts to Spain, Portugal, and Italy: The eurozone crisis [...] -
One-Pager No. 29Eurozone Crisis 2.0
Since last month’s Greek bond swap, various European leaders have declared the eurozone crisis over or “almost over.” But Euroland’s current economic reality begs to differ. No matter how much cheap money the ECB provides or how high the EC “firewall” rises, the region’s economic malaise can’t be cured without massive government intervention—the implementation of […] -
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National Fragmentation of Credit in the Eurozone
In a Bloomberg article that details how banks in the eurozone periphery have begun carrying increasing proportions of the debt issued by their own nations’ governments (while banks in the core have reduced their holdings of peripheral sovereign debt), Dimitri Papadimitriou comments on some of the consequences of this “national fragmentation of credit”: “If there’s [...] -
Blog
21st Annual Hyman P. Minsky Conference: Debt, Deficits, and Financial Instability
The annual Minsky conference, co-sponsored by the Levy Institute and the Ford Foundation, was held this past week in NYC. The audio transcripts of all the presentations (including one by yours truly) are online here. (I will also add my powerpoint below so you can look at it while listening to the audio.) My presentation [...] -
Strategic AnalysisBack to Business as Usual? Or a Fiscal Boost?
Though the economy appears to be gradually gaining momentum, broad measures indicate that 14.5 percent of the US labor force is unemployed or underemployed, not much below the 16.2 percent rate reached a full year ago. In this new report in our Strategic Analysis series, we first discuss several slow-moving factors that make it difficult […]