February 17, 2021
Upcoming Event

May 5--6, 2021
29th Annual Hyman P. Minsky Conference on the State of the US and World Economies <[link removed]>

This year the Hyman P. Minsky Conference on the State of US and World Economies will be a two-day, virtual event featuring speakers from government, academia, financial institutions, and the media, as well as Levy Institute scholars. Scheduled presenters include Robert Kaplan, Federal Reserve Bank of Dallas; Patricia McCoy, Boston College; Kathryn Judge, Columbia Law School; Bruce Greenwald, Columbia Business School; and James Paulsen, The Leuthold Group.

More information will be posted on the conference website <[link removed]> as it becomes available.

June 28--July 16, 2021
Institute to Host Intensive Virtual Course in Gender-Sensitive Macroeconomic Modeling for Policy Analysis <[link removed]>

The purpose of this virtual course is to enhance capacity building in research and teaching of gender-sensitive economic analysis, with a focus on care and macroeconomic policy aspects to guide participants toward the formulation of viable research projects focused on addressing care needs in developing countries. The deadline for applications is April 8, 2021.

For more information or to apply, please email AU-Levy Intensive Course Administrator, Thomas Masterson ([email protected]) or visit the seminar website <[link removed]>.

This course is organized by the American University's Care Work and the Economy Project and the Levy Institute and is made possible by the generous support of the William and Flora Hewlett Foundation.
New Publications

Working Paper No. 985, February 2021
Has Japan Been Following Modern Money Theory Without Recognizing It? No! And Yes. <[link removed]>
Yeva Nersisyan and L. Randall Wray <[link removed]>

Yeva Nersisyan and L. Randall Wray <[link removed]> evaluate whether Japan is the poster child for Modern Money Theory (MMT) and argue that policy-wise Japan is not following MMT recommendations, but instead adopting a path of stop-go fiscal measures and inadequate fiscal stimuli followed by austerity whenever the economy has seemed to recover.

Read complete text (pdf) <[link removed]>


Working Paper No. 984, February 2021
The Empirics of Long-Term Mexican Government Bond Yields <[link removed]>
Tanweer Akram and Syed Al-Helal Uddin

Tanweer Akram and Syed Al-Helal Uddin present empirical models of Mexican government bond (MGB) yields based on monthly macroeconomic data to test John Maynard Keynes's assertion that government bond yields move in tandem with the short-term interest rate. The models demonstrate that Keynes's claim holds for MGB yields, with important policy implications for Mexico and relevance for ongoing macroeconomic debates.

Read complete text (pdf) <[link removed]>


Working Paper No. 983, February 2021
Intrahousehold Allocation of Household Production: A Comparative Analysis for Sub-Saharan African Countries <[link removed]>
Fernando Rios-Avila <[link removed]>, Abena D. Oduro, and Luiza Nassif Pires <[link removed]>

Employing time use survey data on household production in nuclear families in Ethiopia, Ghana, Tanzania, and South Africa, Research Scholars Fernando Rios-Avila <[link removed]> and Luiza Nassif Pires <[link removed]> and Abena D. Oduro, University of Ghana, analyze factors that may explain gender differences in the time allocated to household production in sub-Saharan Africa. They find weak evidence supporting the time availability and gender ideology theories, as well as for the hypothesis that bargaining power plays an explanatory role.

Read complete text (pdf) <[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 supporting and caring 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


A February 7 editorial from The Guardian <[link removed]> cites the One-Pager <[link removed]>, "The Economic Response to the Coronavirus Pandemic" (No. 62, March 2020), by Yeva Nersisyan and L. Randall Wray <[link removed]> for recognizing "the US government is engaged in relief, not stimulus, spending."

Wray also participated in the Tax Council Policy Institute's 22nd Annual Symposium <[link removed]>, "Tax in a Time of Global Disruption: The Future Accelerated & Transformed," during the panel, "The Fiscal and Economic Outlook and The Role of Deficits—Will the headlines be 'Incrementalism After the Vaccine,' 'Modern Monetary Theory Writ Large' or 'The Return of the Deficit Hawks?'"






In This Issue

Upcoming Event: 29th Annual Minsky Conference <#minsky_29>

Upcoming Event: Intensive Virtual Course in Gender-Sensitive Macroeconomic Modeling for Policy Analysis <#gender_sem>

Has Japan Been Following Modern Money Theory Without Recognizing It? <#wp_985>

The Empirics of Long-Term Mexican Government Bond Yields <#wp_984>

Intrahousehold Allocation of Household Production <#wp_983>

Levy Graduate Programs <#grad>

Web and Media Coverage <#media>


Read Our Blog

Levy Book Series

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