| 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.
For more information, including a preliminary list of speakers, please visit the conference website. |
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The Levy Institute wishes to thank the following donors for their recent generosity:
Tanweer Akram
Daniel Alpert
John Anella
Eric Breon
Richard B. Du Boff
Robert J. Ferrari
Rafael Lima de Freitas ’04
Goldman, Sachs & Co.
David Hincapie
James Keenan
Damianos V. Lazaridis Giannopoulos ’13
Carlos Maciel ’16
Vincent J. Mateo
Douglas A. McNeill
Stergios G. Mentesidis ’12
Dimitri and Rania Papadimitriou
Gustav Papanek
Radio Kingston
Subramani Seetharama and Lavanya Subramani
Ben Strubel
Taun Toay ’05 and Christine Diaz |
Public Policy Brief No. 157, April 2022
Yeva Nersisyan and L. Randall Wray
According to Research Scholar Yeva Nersisyan and Senior Scholar L. Randall Wray the problem with the US economy is not one of excess of demand and the Federal Reserve will not be able to engineer a “soft landing” in the way many seem to be expecting. In their view, dynamics at the micro-level are playing a much more central role in driving the price increases in question, while significant supply chain problems have curtailed productive capacity by disrupting the availability of critical inputs. They suggest a policy oriented around targeted investments that would increase our real resource space and serve not only to address inflationary pressures, but also the far more pressing climate emergency.
» Read complete text (pdf) |
Working Paper No. 1004, March 2022
Giuliano Toshiro Yajima and Lorenzo Nalin
Giuliano Toshiro Yajima, Sapienza University of Rome, and Lorenzo Nalin, National Autonomous University of Mexico (UNAM), consider the financial conditions that may encourage (discourage) structural change in a small, open economy, adopting the framework put forward by the “monetary theory of distribution” (MTD) whereby the financial system is intended as a basic sector that promotes innovation. Through this device, their model offers an explanation of the technological lock-in experienced by a small, open economy that takes international prices as given.
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. |
Institute President Dimitri B. Papadimitriou was interviewed by Bryan Mena for a March 31 article in the Wall Street Journal, “U.S. Jobless Claims Edge Higher Amid Tight Labor Market.”
On April 15, Senior Scholar Jan Kregel participated in the Thomson Reuter’s event, “Manifest Destiny: Risk, Opportunity & Reward Around Digital Currencies” in the panel on “Paradigm Shift: Accessibility, Transparency, and the Social Impact of Money” and on April 20 he spoke on the topic of global inflation as part of the Association for Heterodox Economics (AHE) 2022 Webinar Series: Heterodox Economics Goes Global.
Yeva Nersisyan and L. Randall Wray discussed their recent work on the root causes of inflation on episode #128 of the MMT Podcast with Patricia Pino & Christian Reilly. On February 24, Wray gave a talk to the Oxford Economics Society on “Keynes versus the Classics,” on March 31 he spoke with the Stanford University Rethinking Economics student group on “MMT in the Age of Multiple Pandemics,” and on April 11 he participated in the “In Search of a New Paradigm for Monetary Policy” event, sponsored by the Brazilian Center for International Relations (CEBRI) and the Federation of Industries of the State of São Paulo (FIESP).
Levy Graduate Programs alum Andrew Bunker (’19) contributed to a new Actionaid USA report regarding the macro-structural challenges presented by climate change and the overlapping global crises of the COVID-19 pandemic and the widening inequality gap within and between countries. Simon Grothe (MS ’22) was among the winners of The Association for Institutional Thought’s 17th Annual AFIT-AFEE Student Scholars Competition who presented their work on April 1 in Denver.
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