Founded | 1986 |
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Founder | Leon Levy |
Type | Think tank |
Location |
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Area served | United States of America |
Key people | |
Website | www |
Founded in 1986 as the Jerome Levy Economics Institute, the Levy Economics Institute of Bard College is a nonprofit, nonpartisan public policy think tank. The purpose of its research and other activities is to enable scholars and leaders in business, labor, and government to work together on problems of common interest. Its findings are disseminated—via publications, conferences, seminars, congressional testimony, and partnerships with other nonprofits—to a global audience of public officials, private sector executives, academics, and the general public. Through this process of scholarship, analysis, and informed debate, the Levy Institute generates public policy responses to economic problems.
The Levy Institute is housed on the campus of Bard College in Annandale-on-Hudson, New York, located 90 miles north of New York City. Blithewood, a Georgian-style manor at the campus's western edge, is the institute's main research and conference facility. Designed as a private residence by McKim, Mead and White alumnus Francis L. V. Hoppin, it was completed in 1900. The house and grounds, which includes an Italianate garden overlooking the Hudson River, were incorporated as part of Bard College in 1951.
The Levy Institute has 18 scholars and 50 research associates. Their research focuses on such issues as stock-flow consistent macro modeling, monetary policy and financial structure, financial instability, income and wealth distribution, financial regulation and governance, gender equality and time poverty, and immigration/ethnicity and social structure. [1] The Levy Institute is known for its research in heterodox economics, specifically in Post-Keynesian and Marxian Economics.
The board of directors includes Leon Botstein, the president of Bard College; Bruce C. Greenwald and Joseph Stiglitz, both of Columbia University; Lakshman Achuthan, managing director of the Economic Cycle Research Institute; Martin L. Leibowitz, managing director of Morgan Stanley; William Julius Wilson of Harvard University; [2] and Dimitri B. Papadimitriou, president of the Levy Institute, Jerome Levy Professor of Economics and executive vice president of Bard College, and managing director of Bard College Berlin. [3] [4]
In the Autumn of 2014 the first class of students was admitted to the institute's Masters of Science in Economic Theory and Policy. The initial Director of the new program was Jan Kregel, he was succeeded by Thomas Masterson in 2022 when Profressor Kregel retired. The program is taught by Research Scholars at the institute.
Post-Keynesian economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, with subsequent development influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor, Sidney Weintraub, Paul Davidson, Piero Sraffa and Jan Kregel. Historian Robert Skidelsky argues that the post-Keynesian school has remained closest to the spirit of Keynes' original work. It is a heterodox approach to economics.
Bard College is a private liberal arts college in the hamlet of Annandale-on-Hudson, in the town of Red Hook, in New York State. The campus overlooks the Hudson River and Catskill Mountains within the Hudson River Historic District—a National Historic Landmark.
ENSAE Paris is a university in France, known as Grandes Ecoles and a member of IP Paris. ENSAE Paris is known as the specialization school of École polytechnique for economics, finance, applied mathematics, statistics, and data science. It is one of France's top engineering schools and is directly attached to France's Institut national de la statistique et des études économiques (INSEE) and the French Ministry of Economy and Finance.
Jan A. Kregel is an American post-Keynesian economist.
Leon Levy was an American investor, mutual fund manager, and philanthropist. At his death, Forbes magazine called him “a Wall Street investment genius,” who helped create both mutual funds and hedge funds.
The Yale School of Management is the graduate business school of Yale University, a private research university in New Haven, Connecticut. The school awards the Master of Business Administration (MBA), MBA for Executives (EMBA), Master of Advanced Management (MAM), Master's Degree in Systemic Risk (SR), Master's Degree in Global Business & Society (GBS), Master's Degree in Asset Management (AM), and Ph.D. degrees, as well as joint degrees with nine other graduate programs at Yale University.
The School of International and Public Affairs (SIPA) is the international affairs and public policy school of Columbia University, a private Ivy League university located in Morningside Heights, Manhattan, New York City. It is consistently ranked as one of the leading graduate schools for international relations in the world. SIPA offers Master of International Affairs (MIA) and Master of Public Administration (MPA) degrees in a range of fields, as well as the Executive MPA and PhD program in Sustainable Development.
The Southwestern University of Finance and Economics is a public finance and economics university in Chengdu, Sichuan, China. It is affiliated with the Ministry of Education, and co-funded with the Sichuan Provincial People's Government. The university is part of Project 211 and the Double First-Class Construction.
Marina von Neumann Whitman is an American economist, writer and former automobile executive. She is a professor of business administration and public policy at the University of Michigan's Ross School of Business as well as The Gerald R. Ford School of Public Policy.
Hyman Philip Minsky was an American economist, a professor of economics at Washington University in St. Louis, and a distinguished scholar at the Levy Economics Institute of Bard College. His research attempted to provide an understanding and explanation of the characteristics of financial crises, which he attributed to swings in a potentially fragile financial system. Minsky is sometimes described as a post-Keynesian economist because, in the Keynesian tradition, he supported some government intervention in financial markets, opposed some of the financial deregulation of the 1980s, stressed the importance of the Federal Reserve as a lender of last resort and argued against the over-accumulation of private debt in the financial markets.
Pablo Samuel Eisenberg was an American scholar, social justice advocate, and tennis player. He played in Wimbledon five times, making the quarterfinals once, and won a gold medal at the 1953 Maccabiah Games in Israel. He was a Senior Fellow at Georgetown University's Public Policy Institute. Prior to his role at Georgetown, he served for 23 years as executive director of the Center for Community Change, a progressive community organizing group.
The University of Maryland School of Public Policy is one of 14 schools at the University of Maryland, College Park. The school is located inside the Capital Beltway.
The Columbia Institute for Tele-Information (CITI) is one of several research centers for Columbia Business School, focusing on strategy, management, and policy issues in telecommunications, computing, and electronic mass media. It aims to address the large and dynamic telecommunications and media industry that has expanded horizontally and vertically drive by technology, entrepreneurship and policy.
The Montreal Economic Institute (MEI) is a non-profit research organization based in Montreal, Quebec, Canada. It aims at promoting economic liberalism through economic education of the general public and what it regards as efficient public policies in Quebec and Canada through studies and conferences. Its research areas include different topics such as health care, education, taxation, labour, agriculture and the environment. Its studies are often mentioned in the media.
Dimitri B. Papadimitriou is a Greek and American economist, author, and college professor. He is President of the Levy Economics Institute of Bard College since its inception in 1986 and Jerome Levy Professor of Economics and Executive Vice President Emeritus, at Bard College since 1977.
The Bush School of Government and Public Service is an undergraduate and graduate college of Texas A&M University founded in 1997 under former US President George H. W. Bush's philosophy that "public service is a noble calling." Since then, the Bush School has continued to reflect that notion in curriculum, research, and student experience and has become a leading international affairs, political science, and public affairs institution.
Larry Randall Wray is a professor of Economics at Bard College and Senior Scholar at the Levy Economics Institute. Previously, he was a professor at the University of Missouri–Kansas City in Kansas City, Missouri, USA, whose faculty he joined in August 1999, and a professor at the University of Denver, where he served from 1987 to 1999. He has served as a visiting professor at the University of Rome, Italy, the University of Paris, France, and the UNAM, in Mexico City. From 1994 to 1995 he was a Fulbright Scholar at the University of Bologna. From 2015 he is a visiting professor at the University of Bergamo, located in Italy. He was a visiting professor at Masaryk University in the Czech Republic.
Stock-flow consistent models (SFC) are a family of macroeconomic models based on a rigorous accounting framework, that seeks to guarantee a correct and comprehensive integration of all the flows and the stocks of an economy. These models were first developed in the mid-20th century but have recently become popular, particularly within the post-Keynesian school of thought. Stock-flow consistent models are in contrast to dynamic stochastic general equilibrium models, which are used in mainstream economics.
Pavlina R. Tcherneva is an American economist, of Bulgarian descent, working as associate professor of economics at Bard College. She is also a research associate at the Levy Economics Institute and expert at the Institute for New Economic Thinking.
Ourania "Rania" Antonopoulou a.k.a. Rania Antonopoulos is a Greek heterodox economist and Syriza politician. After the January 2015 election, MP Alexis Tsipras named her as the Greek Alternate Minister for Combating Unemployment in his cabinet tasked to implement a job guarantee policy based on her previous work experience and a specific study for Greece with other colleagues at the Levy Economics Institute. She remains a Syriza member. On the 5th of September 2018 she was appointed by the Greek Government as the Permanent Representative of Greece (Ambassador) to the OECD in Paris, France, entrusting her to represent the country despite the severe media attack she had been subjected to a few months earlier. Between February and August 2015, she also was a member of the Hellenic Parliament.