Argentina: From the “confidence fairy” to the (still devilish) IMF

Originally posted on Critical Macro Finance:
Guest post by Pablo Bortz and Nicolás Zeolla, Researchers at the Centre of Studies on Economics and Development, IDAES, National University of San Martín, and CONICET, Argentina. In recent days, it has become customary to recall the issuance of a USD 2.75 billion 100-year bond in June 2017. This…

The Macroeconomic Effects of Student Debt Cancellation

by Stephanie Kelton, Scott Fullwiler, Catherine Ruetschlin, Marshall Steinbaum Executive Summary More than 44 million Americans are caught in a student debt trap. Collectively, they owe nearly $1.4 trillion on outstanding student loan debt. Research shows that this level of debt hurts the US economy in a variety of ways, holding back everything from small … More The Macroeconomic Effects of Student Debt Cancellation

1st Annual International Workshop on Demand-led Growth, Conflict Inflation, and Macro Policy

Institute of Economics, Federal University of Rio de Janeiro (IE-UFRJ) Keynote Speakers: TBA Schedule: TBA CALL FOR PAPERS May 15: submission deadline June 1: notification of selected papers The Research Group in Political Economy at the Institute of Economics of the Federal University of Rio de Janeiro follows the Sraffian project proposed by Garegnani to make the … More 1st Annual International Workshop on Demand-led Growth, Conflict Inflation, and Macro Policy

New Book: Worst-Case Economics – Extreme Events in Climate and Finance

By Frank Ackerman. From Anthem Press: Worst-case scenarios are all too real, and all too common. The financial crisis of 2008 was not the first or the last to destroy jobs, homeownership and the savings of millions of people. Hurricanes clobber communities from New York to Bangladesh. How bad will the next catastrophe be, and … More New Book: Worst-Case Economics – Extreme Events in Climate and Finance

Unemployment: The Silent Epidemic

By Pavlina R. Tcherneva, This paper examines two key aspects of unemployment—its propagation mechanism and socioeconomic costs. It identifies a key feature of this macroeconomic phenomenon: it behaves like a disease. A detailed assessment of the transmission mechanism and the existing pecuniary and nonpecuniary costs of unemployment suggests a fundamental shift in the policy responses … More Unemployment: The Silent Epidemic

Real World Micro & Macro 2017 Editions

Real World Micro (24th edition)  has just been published by Dollars & Sense.  The book is edited by Rob Larson, Alejandro Reuss, Bryan Snyder, Chris Sturr, and the D&S Collective .Standard microeconomics textbooks depict a tidy world of free markets producing the best outcomes for everyone. Real World Micro confronts neoclassical theory with a messier reality … More Real World Micro & Macro 2017 Editions

The New Normal: Demand, Secular Stagnation and the Vanishing Middle-Class

By Servaas Storm, The Great Financial Crisis of 2008 deeply scarred the U.S. economy, bringing nine dire years of economic stagnation, high and rising inequalities in income and wealth, steep levels of indebtedness, and mounting uncertainty about jobs and incomes. Big parts of the U.S. were hit by elevated rates of depression, drug addiction and ‘deaths … More The New Normal: Demand, Secular Stagnation and the Vanishing Middle-Class