November 19, 2020
Institute News

Senior Scholars Jan Kregel and L. Randall Wray Present at the Central Bank of Argentina's 2020 Money and Banking Conference <[link removed]>

Aiming to foster debate about challenges facing central banks in a new global context marked by the COVID-19 pandemic, the Central Bank of Argentina is presenting a series of online lectures every Wednesday in November for its 2020 Money and Banking Conference: Challenges, Goals and Instruments of Central Banks in a New Global Context. <[link removed]>

During the first week, focused on "The role of monetary policy in the post-pandemic era, from theory to practice," Senior Scholar Jan Kregel <[link removed]> offered remarks addressing "Financial Stability and Economic Inequality." <[link removed]>

In the November 18th session's panel on "Macroeconomic policies in the COVID-19 era," Senior Scholar L. Randall Wray <[link removed]> answers the question: "What Has the Pandemic Taught Us about Monetary and Fiscal Policy?" <[link removed]>



Research Scholar Luiza Nassif-Pires Contributes to New Book on Post-Pandemic Economics in Brazil <[link removed]>

"Austerity, Pandemics and Gender" is the focus of a chapter in the new book, Economia pós-pandemia: desmontando os mitos da austeridade fiscal e construindo um novo paradigma econômico no Brasil [Post-pandemic economics: debunking the myths of austerity and building a new economic paradigm in Brazil], edited by Esther Dweck, Pedro Rossi, and Ana Luíza Matos de Oliveira (Friedrich-Ebert-Stiftung Brasil, 2020). Written by Research Scholar Luiza Nassif-Pires <[link removed]> with Matos de Oliveira, Luana Passos, Ana Paula Guidolin, and Arthur Welle, the chapter demonstrates how austerity policies have increased gender inequalities and made Brazilian women more vulnerable during the pandemic. Other contributions address structural reforms, the 2021 budget, the increase in public debt, and the need for more robust social programs.

Join the authors for a virtual book launch <[link removed]> today, November 19, at 6:30 p.m. (Eastern time), during which you'll be able to download a free copy <[link removed]>. Or you can buy a copy here. <[link removed]>
Levy Graduate Programs in Economic Theory and Policy Now Accepting Students for Fall 2021

Backed by over 30 years of proven policy impact, the Levy Institute Graduate Programs in Economic Theory and Policy provide innovative approaches to topics such as time use, poverty, gender, student debt, and employment that other programs neglect, encouraging students to evaluate policies, examine behavior, and dig deeper into the social phenomena that underlie economic outcomes. Working alongside professors who are actively engaged in tackling today's most pressing economic problems, the Levy graduate programs allow you to apply what you learn in the classroom to real-world research while giving you unprecedented access to leaders in government, NGOs, central banking, academia, and journalism. Along with a challenging academic environment, the Levy programs also offer a supportive community where students make lifetime connections. To find out more, visit bard.edu/levygrad or follow the program's Facebook <[link removed]> page.

Applications for fall 2021 are now open. Interested students should contact the program recruiter, Martha Tepepa ([email protected]), to discuss their options. Scholarships are available.
Media and Web Coverage


Following up on his 2019 congressional testimony, given in part as a response to a March 2019 Republican resolution to denounce Modern Money Theory (MMT), Senior Scholar L. Randall Wray <[link removed]> joins Jeff Epstein on the Activist #MMT <[link removed]> podcast to trace the theory's history since the mid-1990s. Wray's connections with MMT are also mentioned in Otmar Issing's November 3rd article for Financial Advisor <[link removed]>.

In the face of the pandemic's second wave in Europe, Research Scholar Gennaro Zezza <[link removed]> says it is essential for Italy to adopt a more sustainable and equitable strategy than the one implemented in the first-wave lockdown. Following recommendations outlined by Senior Scholar Jan Kregel in Policy Note 2020/6 <[link removed]>, the November 2 article for MicroMega <[link removed]> suggests a suspension of payments (both rents and wages) coupled with an emergency variant of universal basic income to equalize the impact should a second lockdown become necessary.

A coauthored op-ed <[link removed]> by Research Associate Lekha Chakraborty <[link removed]> for Financial Express emphasizes the importance of gender budgeting, or the use of fiscal policy to promote gender equality, to ensure Indian states have sufficient financial resources for carrying out their expenditure assignments.

In an interview with Sarah Leonard for subtext's "Ask the Expert," <[link removed]> Research Associate Pavlina Tcherneva <[link removed]> dispels common myths about the national debt. In a video <[link removed]> for the Forum for a New Economy's "Innovation Lab," she talks about the job guarantee and why we don't need to accept unemployment as a given when the government can provide public jobs at a living wage with decent working conditions.

Lara Merling ('16) joined J. W. Mason and Heather Boushey on the November 16th episode of NPR's Marketplace <[link removed]> to discuss why austerity matters. Merling, currently an economist with the International Trade Union Confederation studying the impact of austerity policies, says policies that cut spending since 2010 have played a part in the long, slow recovery and widening income inequality evident today.

On October 26th, Alex Williams ('20), research analyst at Employ America, was featured on Bloomberg's "What'd You Miss?" <[link removed]> podcast. In the episode, titled "The Shock & The Slog: Two Independent Recessions Born from the Pandemic," Williams proposes a stimulus response that is strong enough to generate a self-sustaining recovery once the virus's threat has passed.

In a November 17th post for the "Take on Wall Street" <[link removed]> blog, Madeleine Johnsson ('20) notes that for private equity firms—who are responsible for over a million job losses while increasing their net worth by billions during the pandemic—"getting rich countercyclically by preying on vulnerable companies is a feature, not a bug."






In This Issue

Institute News: Senior Scholars Present at Central Bank of Argentina's Money and Banking Conference <#boa>

Institute News: Research Scholar Luiza Nassif-Pires Authors Chapter in New Book <#luiza>

Levy Graduate Programs <#grad>

Web and Media Coverage <#media>


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