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"Permanent and Selective Capital Account Management Regimes as an Alternative to Self-Insurance Strategies in Emerging-market Economies"

Bibow, Jorg - Levy Economics Institute - 2011

Currency market intervention-cum-reserve accumulation has emerged as the favored "self-insurance" strategy in recipient countries of excessive private capital inflows. This paper argues that capital account management represents a less costly alternative line of defense deserving renewed...

Persistent link: https://www.econbiz.de/10009293978

"The Euro Imbalances and Financial Deregulation: A Post-Keynesian Interpretation of the European Debt Crisis"

Perez-Caldentey, Esteban; Vernengo, Matias - Levy Economics Institute - 2012

Conventional wisdom suggests that the European debt crisis, which has thus far led to severe adjustment programs crafted by the European Union and the International Monetary Fund in both Greece and Ireland, was caused by fiscal profligacy on the part of peripheral, or noncore, countries in...

Persistent link: https://www.econbiz.de/10009398269

"Global Imbalances, the U.S. Dollar, and How the Crisis at the Core of Global Finance Spread to "Self-insuring" Emerging Market Economies"

Bibow, Jorg - Levy Economics Institute - 2010

This paper investigates the spread of what started as a crisis at the core of the global financial system to emerging economies. While emerging economies had exhibited some resilience through the early stages of the financial turmoil that began in the summer of 2007, they have been hit hard...

Persistent link: https://www.econbiz.de/10008629632

"An Alternative View of Finance, Saving, Deficits, and Liquidity"

Wray, L. Randall - Levy Economics Institute - 2009

This paper contrasts the orthodox approach with an alternative view on finance, saving, deficits, and liquidity. The conventional view on the cause of the current global financial crisis points first to excessive United States trade deficits that are supposed to have "soaked up" global savings....

Persistent link: https://www.econbiz.de/10008531421

"Imbalances? What Imbalances? A Dissenting View"

Wray, L. Randall - Levy Economics Institute - 2012

It is commonplace to link neoclassical economics to 18th- or 19th-century physics and its notion of equilibrium, of a pendulum once disturbed eventually coming to rest. Likewise, an economy subjected to an exogenous shock seeks equilibrium through the stabilizing market forces unleashed by the...

Persistent link: https://www.econbiz.de/10010627286

"Can Portugal Escape Stagnation without Opting Out from the Eurozone?"

Leao, Pedro; Palacio-Vera, Alfonso - Levy Economics Institute - 2011

The creation of the Economic and Monetary Union (EMU) has not brought significant gains to the Portuguese economy in terms of real convergence with wealthier eurozone countries. We analyze the causes of the underperformance of the Portuguese economy in the last decade, discuss its growth...

Persistent link: https://www.econbiz.de/10008876437

"The Global Financial Crisis and the Shift to Shadow Banking"

Nersisyan, Yeva; Wray, L. Randall - Levy Economics Institute - 2010

While most economists agree that the world is facing the worst economic crisis since the Great Depression, there is little agreement as to what caused it. Some have argued that the financial instability we are witnessing is due to irrational exuberance of market participants, fraud, greed, too...

Persistent link: https://www.econbiz.de/10008629630

The current economic and financial crisis : a gender perspective

Antonopoulos, Rania - 2009

Widespread economic recessions and protracted financial crises have been documented as setting back gender equality and … exacerbated effects from other crises manifest in food insecurity, poverty, and increasing inequality. This paper explores both … well-known and less discussed paths of transmission through which crises affect women's world of work and overall wellbeing …

Persistent link: https://www.econbiz.de/10003859880

The meltdown of the global economy : a Keynes-Minsky episode?

Sen, Sunanda - 2010

The enormity and pervasiveness of the global economic crisis that began in 2008 makes it relevant to analyze the circumstances that can explain this catastrophe. This will also provide clues to the appropriate remedial measures needed to prevent future occurrences of similar developments. The...

Persistent link: https://www.econbiz.de/10008664024

Too big to fail in financial crisis : motives, countermeasures, and prospects

Shull, Bernard - 2010

Regulatory forbearance and government financial support for the largest U.S. financial companies during the crisis of 2007–09 highlighted a “too big to fail” problem that has existed for decades. As in the past, effects on competition and moral hazard were seen as outweighed by the threat...

Persistent link: https://www.econbiz.de/10003975091