Levy News, May 31, 2022

May 31, 2022
Upcoming Event

June 11--18, 2022
Watch Sessions from the Institute's Summer Seminar <[link removed]>

The Levy Economics Institute of Bard College is pleased to announce it will stream select sessions from their summer seminar, June 11--18, 2022, providing viewers an opportunity to engage with the theory and policy of Modern Money Theory (MMT) <[link removed]> and the work of Institute Distinguished Scholars Hyman Minsky <[link removed]> and Wynne Godley <[link removed]>.

For a current schedule of available sessions and more information on how to participate, please visit the conference website <[link removed]>.
New Publications

Policy Note 2022/3 | May 2022
Chile: The Road to Joy Is Paved with Obstacles <[link removed]>
Giuliano Toshiro Yajima

In this policy note, Giuliano Toshiro Yajima, University of Rome La Sapienza, sheds light on the promise of long-awaited reforms to the volatile and unequal structure of the Chilean economy, showing that its external and internal fragility feeds back on the excessive specialization and heterogeneity of the productive sectors, which in turn influence income and wealth distribution.

? Read complete text (pdf) <[link removed]>
Working Paper No. 1008 | May 2022
A GARCH Approach to Modeling Chilean Long-Term Swap Yields <[link removed]>
Tanweer Akram and Khawaja Mamun

Tanweer Akram, Citibank, and Khawaja Mamun, Sacred Heart University, model the long-term dynamics of Chilean interbank swap yields applying the generalized autoregressive conditional heteroskedasticity (GARCH) approach to ascertain whether the month-over-month change in the short-term interest rate has a decisive influence on the long-term swap yield.

? Read complete text (pdf) <[link removed]>
Working Paper No. 1007 | May 2022
School Performance and Child Labor: Evidence from West Bank Schools <[link removed]>
Sameh Hallaq <[link removed]> and Ayman Khalifah

Research Associate Sameh Hallaq <[link removed]> and Ayman Khalifah, Al-Quds Bard College, utilize survey data collected from primary school--aged Palestinian children in West Bank schools to investigate the impact of academic achievement on child labor, with results indicating that increasing a child's academic achievement is significantly associated with decreasing the probability that a child works for money in the following period.

Read complete text (pdf) <[link removed]>
Working Paper No. 1006 | April 2022
Why the Feldstein-Horioka "Puzzle" Remains Unsolved <[link removed]>
Jesus Felipe <[link removed]>, Scott Fullwiler, and Al-Habbyel Yusoph

Research Associate Jesus Felipe <[link removed]>, Scott Fullwiler, University of Missouri--Kansas City, and Al-Habbyel Yusoph, University of the Philippines, argue that the investment and saving series typically used in empirical exercises to test the Feldstein-Horioka thesis are not appropriate for testing capital mobility and that the Feldstein-Horioka regression is not a model in the econometric sense, therefore the 40-year-old Feldstein-Horioka "puzzle" is not correctly labeled as such.

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

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 <[link removed]> 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 News

New Book, "Handbook of Economic Stagnation," by Senior Scholar L. Randall Wray and Flavia Dantas Is Now Available <[link removed]>


Senior Scholar L. Randall Wray <[link removed]> and Flavia Dantas are coauthors of the Handbook of Economic Stagnation <[link removed]> (Elsevier, 2022), featuring contributions from orthodox and heterodox economists, including Levy Research Scholars Yeva Nersisyan <[link removed]> and Michalis Nikiforos <[link removed]> and Research Associates Steven Fazzari <[link removed]>, Eckhard Hein <[link removed]>, and ?ric Tymoigne <[link removed]>. By synthesizing diverse perspectives about crisis economics and growth while emphasizing the relationships among stagnation, international economics, and the global distribution of labor, this book's approach to stagnation will be of interest to those who want to learn more about boom--bust cycles.






In This Issue

Upcoming Event: Institute Summer Seminar <#mmt_summer_sem>

Chile: The Road to Joy Is Paved with Obstacles <#pn_22_3>

A GARCH Approach to Modeling Chilean Long-Term Swap Yields <#wp_1008>

School Performance and Child Labor <#wp_1007>

Why the Feldstein-Horioka "Puzzle" Remains Unsolved <#wp_1006>

Levy Graduate Programs <#grad>

Institute News <#news>


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