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The Levy Institute is pleased to announce the keynote speaker for our 32nd Annual Conference: US House Representative Ro Khanna (CA-17)!
The 32nd Annual Levy Economics Institute Conference, Money, Finance, and Economic Strategies in Fractured Times will be returning as an in-person event on Monday, June 16, 2025. The conference will take place on the Bard College campus in Annandale-on-Hudson, NY. This year’s annual conference will feature panels on Minskyan analyses of current sources of financial fragility; new directions in public finance; visions for the next progressive policy agenda; climate finance, balance of payments constraints, and the global economy; and more.
Speakers include:
James K. Galbraith, Rogerio Studart, Dan Alpert, Pavlina R. Tcherneva, L. Randall Wray, Yan Liang, Ndongo Samba Sylla, Leila Davis, and more. Follow the link below for the full program.
Get your tickets now to guarantee your spot.
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by Dimitri B. Papadimitriou, Giuliano Toshiro Yajima, and Gennaro Zezza
It is well known that the demand components of GDP are comprised of consumption, investment, government expenditure, and exports minus imports. That negative contribution from imports may lead those less knowledgeable of national accounting to assume a direct, one-to-one negative link between imports and GDP. A better informed view falsifies this conclusion...
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by Francesco Zezza and Gennaro Zezza
In this working paper, Levy Scholars Francesco Zezza and Gennaro Zezza investigate the implications of the European Union’s revised fiscal governance framework for Italy, a country facing the dual challenge of high public debt and persistent economic stagnation. Using a Stock-Flow Consistent (SFC) macroeconometric model of the Italian economy (MITA), the authors assess the medium-term macroeconomic implications of the government Medium-term Fiscal-Structural Plan, and whether it aligns with debt stabilization and economic recovery goals. They show how the government expenditure path, consistent with the new Debt Sustainability Analysis, leads instead to an increase in debt/GDP.
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by Jean-François Ponsot
Our eminent French economist colleague, Edwin Le Héron, passed away on 23 April 2025 in Bordeaux. A professor at Sciences Po Bordeaux since 1987, he was the founder and long-standing president of the Association pour le Développement des Études Keynésiennes (ADEK), established in 2000. ADEK has brought together French-speaking post-keynesian economists and organized major international post-Keynesian conferences in Dijon, Grenoble, and Lille.
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At Levy, economics isn’t just studied—it’s reimagined. Backed by over 30 years of groundbreaking policy research and impact, the Levy Institute Graduate Programs in Economic Theory and Policy stand apart by integrating heterodox perspectives with rigorous analysis—examining money, finance, government budgets, employment, poverty, and time use through a critical, policy-oriented lens.
Unlike traditional programs, we emphasize the social and institutional forces that shape economic outcomes, empowering students to gain key tools, such as stock flow consistent macroeconomic modeling and gender-aware analysis, that bridge theory and practice.
The Levy Institute programs combine rigorous academics with a close-knit, supportive community. Students thrive in an environment where collaboration is key—sharing research, debating ideas, and working alongside faculty and peers to deepen their understanding through meaningful intellectual exchange.
Interested students should contact the Institute at [email protected] for more information. Scholarships are available.
To find out more, visit bard.edu/levygrad and apply now.
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