Archive
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Working Paper
Working Paper SeriesGovernment 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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Working Paper
Working Paper SeriesThe Economics and Politics of Social Democracy: A Reconsideration
May 2020
The popular discontent and rise of ‘populist’ political parties is closely related to the failure of New Labor to navigate social democracy’s dilemma.
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Working Paper
Working Paper SeriesThe EU’s Green Deal: Bismarck’s ‘What Is Possible’ Versus Thunberg’s ‘What Is Imperative’
Apr 2020
This paper considers the ambition, scale, substance and strategy of the European Union’s Green Deal
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Working Paper
Working Paper SeriesThe Global Impact of Brexit Uncertainty
Dec 2019
Using tools from computational linguistics, we construct new measures of the impact of Brexit on listed firms in the United States and around the world
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Working Paper
Working Paper SeriesFirm-Level Political Risk: Measurement and Effects
Jul 2019
We adapt simple tools from computational linguistics to construct a new measure of political risk faced by individual US firms: the share of their quarterly earnings conference calls that they devote to political risks.
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Working Paper
Working Paper SeriesExpansionary Austerity and Reverse Causality: A Critique of the Conventional Approach
Jul 2019
It was too good to be true: Another effort to vindicate austerity falls victim to flawed methodology.
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Working Paper
Working Paper SeriesDemand-determined potential output: a revision and update of Okun’s original method
May 2019
Everyone is waking up to the fact that estimates of what is possible in the economy are way off: this paper explains why
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Working Paper
Working Paper SeriesThe performativity of potential output: Pro-cyclicality and path dependency in coordinating European fiscal policies
Aug 2016
This paper analyzes the performative impact of the European Commission’s model for estimating ‘potential output’, which is used as a yardstick for measuring the ‘structural budget balance’ of EU countries and, hence, is crucial for coordinating European fiscal policies.
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Article
A Teachable Moment for the Economics Profession?
May 27, 2016
What we’re reading: A weekly scan of published items relevant to the Institute’s work
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Working Paper
Working Paper SeriesUnderstanding the Great Recession
Dec 2015
Some Fundamental Keynesian and Post-Keynesian Insights, with an Analysis of Possible Mechanisms to Achieve a Sustained Recovery
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Working Paper
Working Paper SeriesDid Quantitative Easing Increase Income Inequality?
Oct 2015
The impact of the post-meltdown Federal Reserve policy of ultra-low interest rates and Quantitative Easing (QE) on income and wealth inequality has become an important policy and political issue.
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Working Paper
Working Paper SeriesThe Cyclically Adjusted Budget: History and Exegesis of a Fateful Estimate
Oct 2015
This paper traces the evolution of the concept of the cyclically adjusted budget from the 1930s to the present.
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Working Paper
Partnership PaperIs There a Debt-threshold Effect on Output Growth?
Jul 2015
This paper studies the long-run impact of public debt expansion on economic growth and investigates whether the debt-growth relation varies with the level of indebtedness.
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Working Paper
Working paperThe Consumption Response to Liquidity-Enhancing Transfers: Evidence from Italian Earthquakes
Jun 2015
Exploiting three earthquakes in Italy as quasi-experiments, we analyse the response of homeowners’ consumption to transfers targeted to finance housing repair and reconstruction. To the extent that funds are made available up-front, these transfers are akin to loans, mainly affecting the liquidity of households’ wealth
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Working Paper
Working paperIs There a Debt-threshold Effect on Output Growth?
Jun 2015
This paper studies the long-run impact of public debt expansion on economic growth and investigates whether the debt-growth relation varies with the level of indebtedness.