Macroeconomics
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Why The Ukraine Crisis Will Make Little Difference to Dollar Supremacy
Jun 24, 2022
The depth of the U.S. securities market helps ensure dollar hegemony
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A Comment on Lysandrou and Nesvetailova
Jun 24, 2022
James K. Galbraith responds on the U.S. dollar system
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Inflation in a Time of Corona and War
Jun 6, 2022
Evidence-based answers to the main (policy) questions concerning the return of high inflation
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Working Paper
Inflation in the Time of Corona and War
Jun 2022
Are there alternative, less socially costly, ways to bring inflation down?
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Axel Leijunhufvud, Wide-Ranging Economist
Jun 1, 2022
An obituary for Axel Leijunhufvud (Sept 6, 1933 - May 5, 2022)
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The Dollar System in a Multi-Polar World
May 5, 2022
The multipolar financial world is here. The United States can survive it – but only with major political and economic changes at home. It’s time to start thinking about what those need to be.
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What Really Drives Long-Term Interest Rates?
Apr 29, 2022
Contrary to the neoclassical loanable funds theory, historical bond yields show Keynes was right that “convictions” anchor long-term interest rates
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Working Paper Series
Government Deficits and Interest Rates: A Keynesian View
Apr 2022
Contrary to the neoclassical loanable funds theory, historical bond yields show Keynes was right that “convictions” anchor long-term interest rates
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Letter to SEC: How Stock Buybacks Undermine Investment in Innovation for the Sake of Stock-Price Manipulation
Apr 1, 2022
A comment on the Securities and Exchange Commission’s proposed rule “Share Repurchase Disclosure Modernization”
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Working Paper
Investing in Innovation: A Policy Framework for Attaining Sustainable Prosperity in the United States
Apr 2022
Business firms are not alone in making investments in the productive capabilities required to generate innovative goods and services. Household units and government agencies also make investments in productive capabilities upon which business firms rely for their own investment activities.
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We Are Entering a New Economic World
Mar 31, 2022
Economics Nobel Laureate Michael Spence discusses the profound changes that are rippling through the global economy as we emerge from the COVID recession, where economic growth will have to rely more on productivity gains instead of the incorporation of excess labor capacity and what this would mean for countries around the world.
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On the Origins of Economic Cycles (and the Appeal of Keeping Models Simple)
Mar 22, 2022
An alternative to Dynamic Stochastic General Equilibrium (DSGE) models
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Special Drawing Rights and Elasticity in the International Monetary System
Mar 15, 2022
How could the new SDR allocation help developing countries?
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Working Paper Series
After the Allocation: What Role for the Special Drawing Rights System?
Mar 2022
How could the new SDR allocation help developing countries?
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Resource Limits to American Capitalism & The Predator State Today
Feb 10, 2022
VIDEO