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Title: Issues/Policy Institutes/L - Levy Economics Institute The Levy Economics Institute of Bard College is a research organization devoted to public service, generating public policy responses to important economic problems that profoundly affect the quality |
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Fetal_Abuse The rash of women being charged criminally, or having their babies taken away from them, because they took drugs while pregnant focuses attention on the notion that unborn babies deserve the same lega
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| The_Colloquy_of_Montbeliard_-_Religion_and_Politics_in_the_Sixteenth_Century Jill P. Raitt explores the complex array of shifting political alliances and religious tensions which characterized the Holy Roman Empire after the Peace of Augsburg, 1993 by subscription.
| Liberalism_and_Globalization Review of the book by Jean-Pierre Lehmann, argues that liberalism is an essential feature of society and that universal liberalism is a goal the world should pursue.
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Donate to the Levy Institute Strategic Analysis Public Policy Briefs Public Policy Brief Highlights Policy Notes Working Papers LIMEW Reports Book Series Report Summary Conference Proceedings Conference Audio Press Releases Biennial Reports
Strategic Analysis
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April 2008
Fiscal Stimulus—Is More Needed?
As the government prepares to dispense the tax rebates that largely make up its recently approved $168 billion stimulus package, President Dimitri B. Papadimitriou and Research Scholars Greg Hannsgen and Gennaro Zezza explore the possibility of an additional fiscal stimulus of about $450 billion spread over three quarters—challenging the notion that a larger and more prolonged additional stimulus is unnecessary and will generate inflationary pressures.
[more]
Associated Research Program(s):
The State of the U.S. and World Economies
Public Policy Briefs
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August 2008
Shaky Foundations: Policy Lessons from America's Historic Housing Crash
A bursting asset bubble inevitably requires central bank action, usually when it is already too late and with adverse spillover effects. In this sense, the Federal Reserve and other central banks already target asset prices; yet, by taking aim at them only on the way down—as in the current housing and credit crisis—the “Big Banks” create a self-perpetuating cycle of perverse incentives and moral hazard that often gives rise to yet another round of bubbles.
[more]
Associated Research Program(s):
Monetary Policy and Financial Structure
| The State of the U.S. and World Economies
Public Policy Brief Highlights
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September 2008
Financial Markets Meltdown: What Can We Learn from Minsky?
According to Senior Scholar L. Randall Wray, the current crisis in financial
markets can be traced back to securitization (the “originate and distribute” model),
leverage, the demise of relationship-based banking, and a dizzying array of extremely
complex instruments that—quite literally—only a handful understand.
[more]
Associated Research Program(s):
The State of the U.S. and World Economies
| Monetary Policy and Financial Structure
Policy Notes
|
August 2008
What's a Central Bank to Do?
As homeowner equity continues to disappear, there is a growing consensus that losses on all mortgages will exceed $1 trillion, with financial losses spreading far beyond real estate. Mortgage rates are spiking and, more generally, interest rate spreads remain wide, as financial players shun private debt in the rush to safe Treasury securities.
[more]
Associated Research Program(s):
Monetary Policy and Financial Structure
Working Papers
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September 2008
Inflation Targeting in Brazil
The purpose of this paper is to examine inflation targeting (IT) in emerging
countries by concentrating essentially on the case of Brazil. The IT monetary
policy regime has been adopted by a significant number of countries.
[more]
Associated Research Program(s):
Monetary Policy and Financial Structure
LIMEW Reports
|
April 2007
How Well Off Are America’s Elderly?
Given the aging of the American population and the widening gap between rich and
poor—not to mention the controversy surrounding the future viability of Social
Security—the economic welfare of the elderly is an extremely topical issue.
This report provides a new look at America’s elderly, and shows that the official
measures drastically understate their level of economic well-being.
[more]
Associated Research Program(s):
The Levy Institute Measure of Economic Well-Being (LIMEW)
Book Series
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May 2008
Stabilizing an Unstable Economy
The late American economist and Distinguished Scholar Hyman P. Minsky first wrote about the inherent instability of financial markets in the late 1950s, and accurately predicted a transformation of the economy that would not become apparent for nearly a generation.
[more]
Associated Research Program(s):
Monetary Policy and Financial Structure
Report
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July 2008
Report July 2008
This issue of the Report highlights the Institute’s annual Minsky
conference, which this year focused on credit, markets, and the real economy,
and the fiscal policies needed to counter recession. A new Strategic Analysis
argues in favor of a fiscal stimulus much larger than the $150 million currently
allocated, and that it should apply over a longer period—especially if
the slowdown proves longer than expected.
[more]
Summary
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August 2008
Summary Fall 2008
This latest issue of the Summary includes an overview of the Institute's annual Minsky conference, which focused on the current economic crisis in the United States, its effects on the world economy, and possible solutions. Also featured is a new Strategic Analysis that challenges the notion that a stimulus package larger than the one approved by Congress last winter is unnecessary and potentially inflationary.
[more]
Conference Proceedings
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April 2008
The 17th Annual Hyman P. Minsky Conference on the State of the U.S. and World Economies
In April 2008, top policymakers, economists, and analysts from government,
industry, and academia gathered at the Levy Institute’s research and
conference facility in Annandale-on-Hudson, New York, to present their insights
about the American economy and the financial sector in the context of Minsky’s
economic theories. Participants discussed Minsky’s financial instability
hypothesis and the ability of monetary policy to stabilize financial markets
and the economy, as well as the role of the Federal Reserve and its ability
to function as a systemic lender of last resort.
[more]
Associated Research Program(s):
The State of the U.S. and World Economies
Conference Audio
|
May 2008
17th Annual Hyman P. Minsky Conference on the State of the U.S. and World Economies
The focus of this year's conference was the current economic and financial crisis in the United States and its effects on the world economy. Topics included the causes and consequences of the “Minsky moment”; the impact of the credit crunch on the economic and financial market outlook; dislocations and policy options; margins of safety, systemic risk, and the American subprime mortgage market; financial markets regulation-reregulation; the inefficiency of computer-driven markets; currency market fluctuations; and exchange rate misalignment.
[more]
Press Releases
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September 2008
Federal Government in Better Position Than Federal Reserve to Support Faltering Economy, Levy Scholar Says
[more]
Biennial Reports
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April 2008
Biennial Report, 2006–2007
Throughout 2006–07, the Levy Institute continued to make significant contributions to the public policy discussions on many economic issues. In addition to organizing conferences, workshops, and lectures with distinguished representatives of the academy, the business community, and government, the Levy Institute used its wide range of print and online publications to disseminate information about, and foster debate on, numerous policy issues.
[more]
In the Media
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September 2007
Prepare for the Credit Crisis to Spread
FT.com, September 3, 2007. Copyright 2007 The Financial Times Limited. “FT” and “Financial Times” are trademarks of the
[more]
Fiscal Stimulus—Is More Needed? Strategic Analysis, April 2008
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