| New Research Scholar
We are pleased to announce that Giuliano Toshiro Yajima is joining the Levy Institute as a member of the Institute’s Macro-Modeling Team and a coauthor of our Strategic Analysis reports. His research focuses on macroeconomic theory and policy, growth and income distribution, structural change and patterns of innovation, international financial instability, and ecological economics.
Read Giuliano’s Institute publications here.
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Working Paper No. 1012, December 2022 An Analysis of UK Swap Yields Tanweer Akram and Khawaja Mamun
Tanweer Akram, Citibank, and Khawaja Mamun, Sacred Heart University, investigate whether Keynes's claim concerning the central bank's influence over the long-term interest rate can be extended to the yields of spread products and over-the-counter financial derivatives by econometrically modeling the dynamics of the pound sterling–denominated long-term interest rate swap yield.
» Read complete text (pdf) |
Working Paper No. 1011, September 2022 The Dynamics of Monthly Changes in US Swap Yields: A Keynesian Perspective Tanweer Akram and Khawaja Mamun
In testing John Maynard Keynes's assertion that the central bank sways the long-term interest rate through the influence of its policy rate on the short-term interest rate, Tanweer Akram, Citibank, and Khawaja Mamun, Sacred Heart University, investigate monthly changes in US long-term swap yields. Their findings indicate a perspicacious Keynesian perspective on key policy questions and contemporary debates in macroeconomics and finance.
» Read complete text (pdf) |
Working Paper No. 1010, September 2022 Reflections on Angela Merkel’s Career as Chancellor of Germany and the Greek Financial Odyssey George Zestos, Harrison Whittleton, and Alejandro Fernandez-Ribas
By analyzing the 16-year career of Angela Merkel, the second-longest-standing modern German chancellor, George Zestos, Harrison Whittleton, and Alejandro Fernandez-Ribas of Christopher Newport University assess the effects of an economic approach that placed national interests over EU interests in the long term. Following their historical breakdown, they ask whether Merkel can be held responsible for the prolonging of the eurocrisis and the increase of income inequality in Germany based on her policies.
» Read complete text (pdf) |
Levy Graduate Programs in Economic Theory and Policy |
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 page.
Interested students should contact the Institute at [email protected] for more information. Scholarships are available.
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Research Scholar Pavlina Tcherneva met with government officials in Bogotá, Colombia, to present her proposal for a national job guarantee program in December 2022. Tcherneva was hosted on The Hill to debate former Trump Economic Advisor Stephen Moore on the validity of the Inflation Reduction Act on August 18, 2022; on October 31, she spoke with Olivier De Schutter, UN Special Rapporteur on Extreme Poverty and Human Rights, on the upcoming UN report on the job guarantee and again on January 25, 2023 on assessing global progress in advancing the job guarantee. Her book The Case for a Job Guarantee has been translated into Italian, Polish, and Ukrainian, and will be translated to Chinese in 2023. She has spoken at the Brazilian Center for International Relations (CEBRI) on September 27, 2022 on Job Guarantee as Public Policy, and at the Third International Conference in Herterodox Economics in November 2022 on The Crucial Role of Women within the Heterodox Economics Community. In September 2022, Tcherneva authored a policy brief for the Foundation for European Studies titled Economic policy Innovation for Stability, Security and Sustainability. Senior Scholar L. Randall Wray published a new book titled Modern Monetary Theory in January 2023, aimed at providing an up-to-date account of Modern Monetary Theory from a global perspective. An editorial in The Guardian cited Wray’s research on the use and impact of austerity in open economies operating with a floating exchange rate. Senior Scholar Rania Antonopoulos took part in a meeting organized by the European Trade Union Institute as part of the preparation of a key publication—“Transformative Ideas: Reconstruction Beyond the Pandemic”—for the 2023 European Trade Union Confederation Congress (ETUC), to which Antonopoulos will be contributing a chapter on a job guarantee for Europe. Antonopoulos was also invited by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) to speak at a high-level panel of the “XV Regional Conference on Women in Latin America and the Caribbean” on the topic of financing the care economy. Download her remarks here. Research Scholar Luiza Nassif Pires co-authored a paper with Isabella M. Weber, Jesús Lara Jauregui, and Lucas Texeira on inflation and “systemically significant sectors” that was cited in the Financial Times and Bloomberg. |
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