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The Levy Institute has been well positioned to apply unique research perspectives in the service of broadening our understanding of and crafting alternative solutions to the economic dimensions of the COVID-19 crisis. Even before this latest crisis hit, it was clear that deep structural economic changes were needed; that business as usual would not suffice. Given the breadth and depth of the problems faced in many economies around the world, crafting a relevant approach to government policy and regulation, now and for the future, requires an unconventional approach to economics.
This is what we have offered since our founding over three decades ago. And as we move through this difficult period and look to the recovery ahead, we need your support to continue advancing our pathbreaking research and helping the next generation of students make their impact. On Giving Tuesday, consider making a contribution to help us guide public policy toward securing full employment and the establishment of more equitable, more stable economies. |
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Working Paper No. 979, November 2020
Edward Lane and L. Randall Wray
As the United States is experiencing the need for ever-increasing government expenditures to address COVID-19 disruptions, rebuild the nation’s infrastructure, and many other worthy causes, recommendations have come forth, especially from progressive circles, for restoring at least a portion of the corporate taxes eliminated by the 2017 Tax Cuts and Jobs Act. In this working paper, Edward Lane and Senior Scholar L. Randall Wray examine who really pays the corporate income tax and argue that it does not serve the purposes most people believe.
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Working Paper No. 977, November 2020
Tanweer Akram
Tanweer Akram outlines John Maynard Keynes’s discussions of money, the state theory of money, financial markets, investors’ expectations, uncertainty, and liquidity preference for countries with monetary sovereignty, arguing that Keynesian insight into the central bank’s influence over the long-term interest rate and yield curve through the short-term interest rate, as validated by several recent empirical studies, is relevant for macroeconomic theory and policymaking.
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Working Paper No. 976, November 2020
Sameh Hallaq
Research Scholar Sameh Hallaq presents three economic literature review essays surveying the Palestinian labor market from the 1980s through the present day. The first essay examines the economic return to schooling since 1981 until the recent period; the second discusses the economic costs of several conflict measures on the labor market and human capital; and the third sheds light on the wage differential in the Palestinian labor market due to geographical and employment-sector factors.
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Working Paper No. 975, November 2020
Sebastian Valdecantos
Sebastian Valdecantos addresses Argentina’s recent economic performance—where per capita GDP has been decreasing since 2011—and considers the impact of alternate policy scenarios. Using an empirical quarterly stock-flow consistent (SFC) model for 2007–19, Valdecantos counterfactually tests the policy recommendations of the two divergent macroeconomic programs implemented during the period to demonstrate how his approach can be useful for studying different policy combinations that, given a specific context, can bring about more sustainable dynamics for the Argentinean economy.
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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's 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 supporting and caring community where students make lifetime connections. To find out more, visit bard.edu/levygrad or follow the program's Facebook 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. |
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