| Institute Appoints New Scholars
Emeritus professor at the Centre for Economic Studies and Planning, Jawaharlal Nehru University (JNU), New Delhi, C. P. Chandrasekhar, has been appointed as a senior scholar. He has published widely in academic journals and is the coauthor of Crisis as Conquest: Learning from East Asia (2021, Orient Longman), The Market that Failed: Neo-Liberal Economic Reforms in India (2002, Leftword Books), and Promoting ICT for Human Development: India (2004, Elsevier). In 2009, Chandrasekhar received the Malcolm Adiseshaiah Award for contributions to economics and development studies.
Yeva Nersisyan has been appointed as a research scholar. Nersisyan is a macroeconomist working in the Modern Money Theory, Post-Keynesian, and Institutionalist traditions and is the author of several Institute publications. She is currently an associate professor of economics at Franklin and Marshall College in Lancaster, PA and coediting the Elgar Companion to Modern Money Theory with L. Randall Wray. |
Announcing the Levy Economics Institute Summer Seminar
The Levy Economics Institute of Bard College is pleased to announce it will be holding a summer seminar June 11–June 18, 2022. Through lectures, hands-on workshops, and breakout groups, the seminar will provide an opportunity to engage with the theory and policy of Modern Money Theory (MMT) and the work of Institute Distinguished Scholars Hyman Minsky and Wynne Godley. Intended for those who are introducing themselves to these approaches as well as those who are looking to deepen their understanding, the seminar will be of particular interest to graduate students, recent graduates, and those at the beginning of their academic or professional careers.
The seminar will be limited to 60 attendees. For more information, including a preliminary list of speakers and instructions on how to apply, please visit the conference website. |
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Working Paper No. 1001, February 2022
Paul Carrillo-Maldonado and Michalis Nikiforos
Paul Carrillo-Maldonado and Research Scholar Michalis Nikiforos employ a time varying parameter model to estimate the distribution-led regime of the US economy for the period 1947–2019, allowing for changes in the regime over time. Their findings indicate that the US economy became more profit-led in the first postwar decades until the 1970s and turned slightly wage-led over the last fifteen years.
Read complete text (pdf) |
Levy Graduate Programs in Economic Theory and Policy Now Accepting Students for Fall 2022 |
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. Research from this year’s class focuses on diverse topics including the care economy and the social division of labor; the roots of migration crises in El Salvador; a stock-flow model for Germany; Latin America’s debt and the prospects of an alternate currency; wealth tax incidence in the United States; and unpaid labor in Nepal.
Along with a challenging academic environment, the Levy programs also offer a supporting and caring community where students benefit from sharing their research with faculty and their peers to promote academic exchanges and intellectual collaboration.
To find out more, visit bard.edu/levygrad or follow the program’s Facebook page.
Applications for fall 2022 are now open. Interested students should contact the program recruiter, Martha Tepepa ([email protected]), to discuss their options. Scholarships are available. |
The Institute has recently been the recipient of two grants for studying economic well-being. The first, from the Groundwork Collaborative, will be used to investigate the connections between public spending and economic insecurity among US households. The year-long project, titled “Interrogating Austerity: An Intersectional Political Economy Perspective,” will use the Levy Institute Measure of Economic Well-being (LIMEW) to investigate how dramatic changes in government expenditure during 2020—and in particular the rescue packages passed in response to the pandemic—contributed to overall economic well-being against the backdrop of significant fluctuations in labor income, private wealth, and time spent in household work. The second comes from the United Nations Research Institute for Social Development (UNRISD) and the Government of Mexico’s Instituto Nacional de las Mujeres and will cover the first phase of a project examining the potential impact of policies aimed at expanding care services in Mexico. As part of this project, Senior Scholar Rania Antonopoulos will participate in the UNRISD event, “Promoting Evidence-based Policies in the Global Alliance of Care,” on March 17 to share the recent research findings that are informing policy responses around unpaid care work.
Yeva Nersisyan and L. Randall Wray’s oped, “No, the Fed cannot engineer a soft landing, but can wreak havoc trying,” was featured in the March 10 issue of The Hill. Supporting evidence for their argument can be found in recent Institute publications, such as One-Pager No. 69 and Public Policy Brief No. 156.
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