July 7, 2021
Institute News


Senior Scholar and Director of Research Jan Kregel <[link removed]> was interviewed for the "Cinco Preguntas" <[link removed]> column in Brazil's O Globo newspaper, offering his thoughts on how to address the social and economic issues that have been exacerbated by the COVID-19 pandemic in Brazil and around the globe.
New Publications

Public Policy Brief No. 155 | July 2021
Can Biden Build Back Better? Yes, If He Abandons Fiscal "Pay Fors" <[link removed]>
Yeva Nersisyan and L. Randall Wray <[link removed]>

Yeva Nersisyan and Senior Scholar L. Randall Wray <[link removed]> propose an alternative approach to budgeting for large-scale public expenditure programs—one that rejects the "pay for" approach that limits spending on progressive policy to what we can raise through taxes in favor of one that evaluates spending and tax proposals on their own terms, according to the goals each is intended to meet.

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


Working Paper No. 990, July 2021
Ecological Fiscal Transfers and State-level Budgetary Spending in India: Analyzing the Flypaper Effects <[link removed]>
Amandeep Kaur, Ranjan Kumar Mohanty, Lekha S. Chakraborty <[link removed]>, and Divy Rangan

Using panel data models, Amandeep Kaur, Ranjan Kumar Mohanty, Research Associate Lekha S. Chakraborty <[link removed]>, and Divy Rangan analyze whether intergovernmental fiscal transfers or states' own income determine expenditure commitments to ecological fiscal spending in India.

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


Working Paper No. 989, June 2021
The Endogeneity-to-Demand of the National Emergency Utilization Rate <[link removed]>
Michalis Nikiforos <[link removed]>

Research Scholar Michalis Nikiforos <[link removed]> provides an empirical discussion of the national emergency utilization rate (NEUR), based on a "national emergency" definition of potential output, examining the trajectory of potential determinants of capacity utilization to demonstrate that most have moved in a direction that would lead to an increase in utilization. He suggests that the factor that contributed most to the decrease in utilization during the period under investigation was low aggregate demand, while the increase in industry concentration might have played a small 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.







In This Issue

Institute News <#news>

Can Biden Build Back Better? <#ppb_155>

Ecological Fiscal Transfers and State-level Budgetary Spending in India <#wp_990>

The Endogeneity-to-Demand of the National Emergency Utilization Rate <#wp_989>

Levy Graduate Programs <#grad>


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