L. Randall Wray

University of Missouri at Kansas City

5100 Rockhill Road

Kansas City, MO 64110-2499

United States

Bard College - The Levy Economics Institute

Blithewood

Annandale-on-Hudson, NY 12504-5000

United States

SCHOLARLY PAPERS

99

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33,629

SSRN CITATIONS
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Top 8,563

in Total Papers Citations

37

CROSSREF CITATIONS

116

Scholarly Papers (99)

1.

The Global Financial Crisis and the Shift to Shadow Banking

Levy Economics Institute Working Paper No. 587
Number of pages: 30 Posted: 01 Mar 2010
Yeva Nersisyan and L. Randall Wray
affiliation not provided to SSRN and University of Missouri at Kansas City
Downloads 2,214 (8,313)
Citation 12

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Institutional Investors, Financial Crisis, Financialization, Money Managers, Financial Concentration, Shadow Banking, Subprime Mortgages, Securitized Mortgages

2.

Modern Money Theory: A Response to Critics

Number of pages: 12 Posted: 21 Feb 2012
Scott Fullwiler, Stephanie Bell and L. Randall Wray
Wartburg College, University of Missouri at Kansas City - Economics and University of Missouri at Kansas City
Downloads 1,919 (10,504)
Citation 11

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Modern Monetary Theory, MMT, Chartalism, central bank operations, treasury operations, fiscal policy, monetary policy

3.

Lessons from the Subprime Meltdown

Levy Economics Institute Working Paper No. 522
Number of pages: 64 Posted: 12 Dec 2007
L. Randall Wray
University of Missouri at Kansas City
Downloads 1,804 (11,624)
Citation 19

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Hyman Minsky, Financial Instability, Mortgage-backed Securities, Subprime

4.

Macroeconomics Meets Hyman P. Minsky: The Financial Theory of Investment

Levy Economics Institute Working Paper No. 543
Number of pages: 24 Posted: 03 Sep 2008
L. Randall Wray and Eric Tymoigne
University of Missouri at Kansas City and Lewis & Clark College
Downloads 1,452 (16,385)
Citation 17

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Hyman P. Minsky, John Maynard Keynes, financial instability hypothesis, debt deflation, investment finance, asset prices

5.

Modern Money

Levy Economics Institute Working Paper No. 252
Number of pages: 26 Posted: 25 Nov 1998
L. Randall Wray
University of Missouri at Kansas City
Downloads 1,391 (17,460)
Citation 17

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6.

Minsky's Analysis of Financial Capitalism

The Jerome Levy Economics Institute Working Paper No. 275
Number of pages: 15 Posted: 15 Dec 1999
Dimitri B. Papadimitriou and L. Randall Wray
Bard College - Levy Economics Institute and University of Missouri at Kansas City
Downloads 989 (28,844)
Citation 6

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7.

Quantitative Easing and Proposals for Reform of Monetary Policy Operations

Bard College Levy Economics Institute Working Paper No. 645
Number of pages: 35 Posted: 24 Dec 2010
Scott Fullwiler and L. Randall Wray
Wartburg College and University of Missouri at Kansas City
Downloads 867 (34,725)
Citation 7

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Quantitative Easing, Monetary Policy, Fiscal Policy, Macroeconomic Stabilization, Interest Rates, Central Bank Operations

8.

Government as Employer of Last Resort: Full Employment Without Inflation

Levy Economics Institute Working Paper No. 213
Number of pages: 56 Posted: 10 Apr 1998
L. Randall Wray
University of Missouri at Kansas City
Downloads 845 (35,979)
Citation 12

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9.

Global Financial Crisis: A Minskyan Interpretation of the Causes, the Fed’s Bailout, and the Future

Levy Economics Institute of Bard College Working Paper No. 711
Number of pages: 31 Posted: 01 Apr 2012
L. Randall Wray
University of Missouri at Kansas City
Downloads 785 (39,810)
Citation 4

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Hyman Minsky, Global Financial Crisis, Financialization, Money Manager Capitalism, Bank Bailout, Quantitative Easing, Financial Crisis Inquiry Report, Fraud, Minsky Moment, Real Estate Bubble, MERS, Federal Reserve

10.

Introduction to an Alternative History of Money

Levy Economics Institute, Working Paper No. 717
Number of pages: 51 Posted: 03 May 2012
L. Randall Wray
University of Missouri at Kansas City
Downloads 782 (40,009)
Citation 3

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Origins of Money, Evolution of Financial System, Substantivist Methodology, Comparative History, Nature of Money

11.

The Origins of Money and the Development of the Modern Financial System

Levy Economics Institute Working Paper No. 86
Number of pages: 50 Posted: 06 May 1999
L. Randall Wray
University of Missouri at Kansas City
Downloads 748 (42,474)
Citation 1

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12.

Community-Based Factoring Companies and Small Business Lending

Jerome Levy Economics Institute Working Paper No. 108
Number of pages: 35 Posted: 13 Nov 1998
Bard College - Levy Economics Institute, Colorado State University and University of Missouri at Kansas City
Downloads 695 (46,910)
Citation 2

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13.

Endogenous Money: Structuralist and Horizontalist

Levy Economics Institute Working Paper No. 512
Number of pages: 23 Posted: 11 Sep 2007
L. Randall Wray
University of Missouri at Kansas City
Downloads 680 (48,323)
Citation 11

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Monetary Theory and Policy, Horizontalist, Structuralist, Money Supply, Central Bank Targets, Central Bank Independence

14.

From the State Theory of Money to Modern Money Theory: An Alternative to Economic Orthodoxy

Levy Economics Institute, Working Papers Series
Number of pages: 35 Posted: 13 Mar 2014
L. Randall Wray
University of Missouri at Kansas City
Downloads 621 (54,578)
Citation 12

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Modern Money Theory, Chartalism, State Money, Knapp, Innes, Schumpeter, Keynes, Minsky, Goodhart, Ingham, Sovereign Currency

15.

Employer of Last Resort: A Case Study of Argentina's Jefes Program

Number of pages: 26 Posted: 16 Oct 2008
Pavlina R. Tcherneva and L. Randall Wray
Bard College - The Levy Economics Institute and University of Missouri at Kansas City
Downloads 598 (57,036)
Citation 3

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Jefes de Hogar, Argentina, ELR, job creation, public service employment, buffer stock employment, unemployment

16.

Can Basic Income and Job Guarantees Deliver on Their Promises?

Number of pages: 52 Posted: 16 Oct 2008
Pavlina R. Tcherneva and L. Randall Wray
Bard College - The Levy Economics Institute and University of Missouri at Kansas City
Downloads 590 (58,010)
Citation 1

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basic income guarantee, BIG, employer of last resort, ELR, job guarantees, job creation programs

17.

Does Excessive Sovereign Debt Really Hurt Growth? A Critique of 'This Time is Different', by Reinhart and Rogoff

The Levy Economics Institute Working Paper No. 603
Number of pages: 22 Posted: 22 Apr 2013
Yeva Nersisyan and L. Randall Wray
Franklin and Marshall College and University of Missouri at Kansas City
Downloads 581 (59,138)
Citation 14

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Government Debt, Government Deficit, Sovereign Default, Reinhart and Rogoff, Economic Growth, Inflation, Modern Money

18.

Modern Money Theory 101: A Reply to Critics

Levy Economics Institute, Working Papers Series No. 778
Number of pages: 58 Posted: 02 Nov 2013 Last Revised: 05 Dec 2013
Eric Tymoigne and L. Randall Wray
Lewis & Clark College and University of Missouri at Kansas City
Downloads 577 (59,768)
Citation 18

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Modern Money Theory, Price Stability, Full Employment, Financial Stability, Money

The Economic Contributions of Hyman Minsky: Varieties of Capitalism and Institutional Reform

The Jerome Levy Economics Institute WP No. 218
Number of pages: 51 Posted: 13 Feb 1998
Dimitri B. Papadimitriou and L. Randall Wray
Bard College - Levy Economics Institute and University of Missouri at Kansas City
Downloads 576 (59,097)
Citation 4

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The Economic Contributions of Hyman Minsky: Varieties of Capitalism and Institutional Reform

Posted: 20 Feb 1998
Dimitri B. Papadimitriou and L. Randall Wray
Bard College - Levy Economics Institute and University of Missouri at Kansas City

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20.

Theories of Value and the Monetary Theory of Production

Levy Economics Institute Working Paper No. 261
Number of pages: 35 Posted: 06 May 1999
L. Randall Wray
University of Missouri at Kansas City
Downloads 535 (65,567)
Citation 2

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21.

The Neo-Chartalist Approach to Money

Number of pages: 19 Posted: 28 Jan 2014
L. Randall Wray
University of Missouri at Kansas City
Downloads 513 (69,154)
Citation 3

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Metalism, Chartalism, M-form theory, C-form theory, money supply, value of money, origins of money, history of money, Knapp, Innes, Lerner, neo-Chartalism, nation state, creature of the state, inflation, unemployment, international monetary system.

22.

Money Manager Capitalism and the Global Financial Crisis

Levy Economics Institute, Working Papers No. 578
Number of pages: 24 Posted: 26 Sep 2009
L. Randall Wray
University of Missouri at Kansas City
Downloads 500 (71,476)
Citation 15

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Hyman Minsky, money manager capitalism, financial crisis, financial instability hypothesis, asset-backed securities, commodities futures markets

23.

Money and Taxes: The Chartalist Approach

Jerome Levy Economics Institute Working Paper No. 222
Number of pages: 35 Posted: 22 Mar 1998
L. Randall Wray
University of Missouri at Kansas City
Downloads 483 (74,489)
Citation 2

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24.

Financing the Capital Development of the Economy: A Keynes-Schumpeter-Minsky Synthesis

Levy Economics Institute of Bard College Working Paper No. 837
Number of pages: 65 Posted: 09 May 2015
Mariana Mazzucato, Mariana Mazzucato and L. Randall Wray
University of SussexUniversity of York - Social Policy Research Unit (SPRU) and University of Missouri at Kansas City
Downloads 433 (84,839)
Citation 14

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Banker as Ephor of Capitalism, Capital Development, Finance, Global Financial Crisis, Innovation, Minsky, Schumpeter

25.

Monetary Policy Strategies of the European Central Bank and the Federal Reserve Bank of U.S.

Levy Economics Institute Working Paper No. 431
Number of pages: 22 Posted: 29 Nov 2005
L. Randall Wray and Claudio Sardoni
University of Missouri at Kansas City and University of Rome "La Sapienza"
Downloads 423 (87,203)
Citation 2

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monetary policy, federal reserve, European central bank, fiscal policy, aggregate demand, growth

26.

Is It Time to Eliminate Federal Corporate Income Taxes?

Levy Economics Institute, Working Papers Series 2020
Number of pages: 30 Posted: 23 Nov 2020
Edward Lane and L. Randall Wray
Department of Finance, University at Albany and University of Missouri at Kansas City
Downloads 418 (88,631)
Citation 1

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Corporate Taxes, Tax Incidence, Modern Money Theory (MMT), Richard and Peggy Musgrave, Beardsley Ruml, Tax Reform

27.

The Continuing Legacy of John Maynard Keynes

Levy Economics Institute Working Paper No. 514
Number of pages: 22 Posted: 11 Sep 2007
L. Randall Wray
University of Missouri at Kansas City
Downloads 416 (88,867)
Citation 3

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Keynes's Legacy, Keynesian Theory, Keynesian Policy

28.

A Monetary and Fiscal Framework for Economic Stability: A Friedmanian Approach to Restoring Growth

Number of pages: 13 Posted: 28 Jan 2014
L. Randall Wray
University of Missouri at Kansas City
Downloads 382 (98,130)

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Milton Friedman, monetary policy, fiscal policy, economic stability, full employment, monetarism

29.

What Do Banks Do? What Should Banks Do?

Levy Economics Institute, Working Papers Series No. 612
Number of pages: 37 Posted: 25 Aug 2010
L. Randall Wray
University of Missouri at Kansas City
Downloads 339 (112,204)
Citation 3

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Hyman Minsky, Banks and Shadow Banks, Money Manager Capitalism, Finance Capital, Financial Instability Hypothesis, Global Financial Crisis, Debt Deflation Theory

30.

Money: An Alternative Story

Number of pages: 23 Posted: 29 Jan 2014
Eric Tymoigne and L. Randall Wray
Lewis & Clark College and University of Missouri at Kansas City
Downloads 330 (115,547)

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origin of money, credit and debt relations, central authority and unit of account

31.

Is Keynesianism Institutionalist? An Irreverent Overview of the History of Money from the Beginning of the Beginning to the Present

Jerome Levy Economics Institute Working Paper No. 257
Number of pages: 23 Posted: 21 Dec 1998
L. Randall Wray
University of Missouri at Kansas City
Downloads 320 (119,496)
Citation 1

Abstract:

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32.

Lessons We Should Have Learned from the Global Financial Crisis but Didn’t

Levy Economics Institute, Working Papers Series No. 681
Number of pages: 23 Posted: 19 Aug 2011
L. Randall Wray
University of Missouri at Kansas City
Downloads 303 (126,613)
Citation 6

Abstract:

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Global Financial Crisis, Subprime Crisis, Hyman P. Minsky, Galbraith and the Great Crash, Control Fraud, Underwriting, Deregulation, Financial Reform

The 1966 Financial Crisis: A Case of Minskian Instability?

Jerome Levy Economics Institute Working Paper No. 262
Number of pages: 24 Posted: 04 Mar 1999
L. Randall Wray
University of Missouri at Kansas City
Downloads 299 (127,814)
Citation 2

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The 1966 Financial Crisis: A Case of Minskian Instability?

Posted: 22 Mar 1999
L. Randall Wray
University of Missouri at Kansas City

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34.

Minsky's Approach to Employment Policy and Poverty: Employer of Last Resort and the War on Poverty

Levy Economics Institute Working Paper Series No. 515
Number of pages: 19 Posted: 13 Sep 2007
L. Randall Wray
University of Missouri at Kansas City
Downloads 296 (130,302)
Citation 7

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Hyman Minsky, Employment and Poverty, Employer of Last Resort, War on Poverty, Regional and Sectoral Disparities, Financial Instability

35.

Fixed and Flexible Exchange Rates and Currency Sovereignty

The Levy Economics Institute's Working Paper Series
Number of pages: 23 Posted: 06 Feb 2007
L. Randall Wray and Claudio Sardoni
University of Missouri at Kansas City and University of Rome "La Sapienza"
Downloads 288 (133,625)
Citation 2

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Foreign Exchange, International Monetary Arrangements, Economic Integration, Stabilization, Keynes

36.

The Dismal State of Macroeconomics and the Opportunity for a New Beginning

Levy Economics Institute at Bard College Working Paper No. 652
Number of pages: 23 Posted: 04 Mar 2011
L. Randall Wray
University of Missouri at Kansas City
Downloads 284 (136,068)
Citation 2

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Efficient Markets Hypothesis, Keynesian Economics, Orthodoxy, Heterodox Economics, Minsky, Uncertainty, Rational Expectations, New Classical, New Monetary Consensus, Monetary Theory of Production, Effective Demand, Special Properties of Money, the End of Laissez-Faire, Financial Instability Hypothes

37.

Gender and the Job Guarantee: The Impact of Argentina's Jefes Program on Female Heads of Poor Households

Number of pages: 45 Posted: 16 Oct 2008
Pavlina R. Tcherneva and L. Randall Wray
Bard College - The Levy Economics Institute and University of Missouri at Kansas City
Downloads 275 (140,191)
Citation 15

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job guarantee program, Argentina, Jefes projects, female heads of households

38.

Central Bank Independence: Myth and Misunderstanding

Levy Economics Institute, Working Paper No. 791
Number of pages: 30 Posted: 12 Mar 2014
L. Randall Wray
University of Missouri at Kansas City
Downloads 264 (146,151)
Citation 2

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Central Bank Independence, 1951 Accord, Fed Independence, Fed Transparency, Fed Governance, Accountability of the Fed, Dodd-Frank, Federal Reserve Act, Dual Mandates, Central Bank Discretion, Modern Money Theory, State Money Levy Economics Institute

39.

Full Employment Through a Job Guarantee: A Response to the Critics

Number of pages: 24 Posted: 29 Jan 2014
William F. Mitchell and L. Randall Wray
University of Newcastle (Australia) - School of Policy and University of Missouri at Kansas City
Downloads 260 (148,351)
Citation 4

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ELR, unemployment, job guarantee, public service employment, buffer stock employment, employer of last resort

40.

The Endogenous Money Approach

Number of pages: 5 Posted: 28 Jan 2014
L. Randall Wray
University of Missouri at Kansas City
Downloads 253 (152,415)
Citation 1

Abstract:

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endogenous money, circuit theory, horizontalism, neo-Chartalism, functional finance, unemployment, buffer stock of labor

41.

Money

Levy Economics Institute Working Paper No. 647
Number of pages: 22 Posted: 16 Jan 2011
L. Randall Wray
University of Missouri at Kansas City
Downloads 246 (156,754)
Citation 1

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Money, Credit, Debt, Uncertainty, Default, Unit of Account, Heterodox, Circuit Approach, Godley, Minsky, Knapp, Schumpeter, Endogenous Money

42.

Keyne's Approach to Money: An Assessment after 70 Years

Levy Economics Institute Working Paper No. 438
Number of pages: 21 Posted: 10 Feb 2006
L. Randall Wray
University of Missouri at Kansas City
Downloads 242 (159,211)
Citation 2

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Keynes's General Theory, money supply and demand, liquidity preference, finance motive, endogenous money, credit money, state money

43.

The War on Poverty after 40 Years: A Minskyan Assessment

Levy Economics Institute Working Paper No. 404
Number of pages: 33 Posted: 29 Apr 2004
L. Randall Wray and Stephanie Bell
University of Missouri at Kansas City and University of Missouri at Kansas City - Economics
Downloads 242 (159,211)
Citation 4

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War on Poverty, employer of last resort, andti-poverty programs, Hyman Minsky, unemployment, job creation, welfare, economic opportunity, Keynesian policy, demand stimulus, full employment, structuralist

44.

Paul Davidson's Economics

Jerome Levy Economics Institute Working Paper No. 251
Number of pages: 22 Posted: 28 Sep 1998
Southern Oregon University, James Madison University - Economics Program and University of Missouri at Kansas City
Downloads 238 (161,832)

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45.

When are Interest Rates Exogenous?

Number of pages: 16 Posted: 29 Jan 2014
L. Randall Wray
University of Missouri at Kansas City
Downloads 233 (165,159)
Citation 5

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money supply, interest rates, exogeneity, exogenous variable, exogenous interest rate, financial instability

46.

Minsky Crisis

Levy Economics Institute, Working Papers Series No. 659
Number of pages: 15 Posted: 28 Mar 2011
L. Randall Wray
University of Missouri at Kansas City
Downloads 227 (169,352)

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Stability is Destabilizing, Hyman Minsky, Money Manager Capitalism, Financial Instability Hypothesis, Global Financial Crisis, Self-Regulating Markets

47.

Understanding Deflation: Treating the Disease, Not the Symptoms

Levy Economics Institute Working Paper No. 392
Number of pages: 19 Posted: 23 Dec 2003
L. Randall Wray and Dimitri B. Papadimitriou
University of Missouri at Kansas City and Bard College - Levy Economics Institute
Downloads 227 (169,352)

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Deflation, Debt Deflation, Monetary Policy, Fiscal Policy, Price Indices, and Financial Fragility

48.

The Social and Economic Importance of Full Employment

Levy Economics Institute Working Paper No. 560
Number of pages: 14 Posted: 25 Apr 2009
L. Randall Wray
University of Missouri at Kansas City
Downloads 226 (170,083)

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Unemployment, Employer of Last Resort; Job Guarantee, Keynesian Policy, New Deal

49.

Demand Constraints and Economic Growth

The Jerome Levy Economics Institute Working Paper No. 269
Number of pages: 19 Posted: 31 Oct 1999
Marc-Andre Pigeon and L. Randall Wray
Bard College - The Levy Economics Institute and University of Missouri at Kansas City
Downloads 219 (175,263)

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50.

Money and Inflation

Number of pages: 21 Posted: 28 Jan 2014
L. Randall Wray
University of Missouri at Kansas City
Downloads 215 (178,304)

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inflation, money supply, state money, neo-Chartalism, prices

51.

A Post-Keynesian View of Central Bank Independence, Policy Targets, and the Rules-Versus-Discretion Debate

Levy Economics Institute Working Paper No. 510
Number of pages: 27 Posted: 14 Aug 2007
L. Randall Wray
University of Missouri at Kansas City
Downloads 206 (185,535)
Citation 3

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Central Bank Independence, Interest Rate Determination, Real versus Nominal Rates, Interest Rate Targets, Rules versus Discretion

52.

Functional Finance: A Comparison of the Evolution of the Positions of Hyman Minsky and Abba Lerner

Levy Economics Institute, Working Papers Series
Number of pages: 40 Posted: 16 Feb 2018
L. Randall Wray
University of Missouri at Kansas City
Downloads 202 (188,956)
Citation 7

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Functional Finance, Hyman Minsky, Abba Lerner, Deficit Owl, Budget Deficits, Government Budget Constraint, Phillips Curve, Sovereign Currency, Modern Money Theory

53.

Global Demographic Trends and Provisioning for the Future

Levy Economics Institute Working Paper No. 468
Number of pages: 28 Posted: 12 Aug 2006
L. Randall Wray
University of Missouri at Kansas City
Downloads 191 (198,766)

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Social Security, aging, provisioning for the future, demographic trends

54.

Government Deficits, Liquidity Preference, and Schumpeterian Innovation

The Jerome Levy Economics Institute, Working Paper No. 99
Number of pages: 37 Posted: 18 Nov 1998
L. Randall Wray
University of Missouri at Kansas City
Downloads 190 (199,682)
Citation 2

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55.

Can Social Security Be Saved?

Jerome Levy Economics Institute Working Paper No. 270
Number of pages: 21 Posted: 12 Aug 1999
Dimitri B. Papadimitriou and L. Randall Wray
Bard College - Levy Economics Institute and University of Missouri at Kansas City
Downloads 188 (201,582)
Citation 1

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56.

Extending Minsky's Classifications of Fragility to Government and the Open Economy

Levy Economics Institute Working Paper No. 450
Number of pages: 31 Posted: 24 May 2006
L. Randall Wray
University of Missouri at Kansas City
Downloads 182 (207,446)
Citation 2

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: Hyman Minsky, financial fragility, financial instability hypothesis, current account deficit, budget deficit

57.

Euroland in Crisis as the Global Meltdown Picks Up Speed

Levy Economics Institute of Bard College Working Paper No. 693
Number of pages: 29 Posted: 19 Oct 2011
Dimitri B. Papadimitriou and L. Randall Wray
Bard College - Levy Economics Institute and University of Missouri at Kansas City
Downloads 177 (212,499)
Citation 4

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Sovereign Debt, PIIGS, European Monetary Union, Global Financial Crisis, Debt Relief, Sectoral Balances, Budget Deficits, Fisher Debt Deflation, Sovereign Currency, Greek Default

58.

The Community Reinvestment Act, Lending Discrimination, and the Role of Community Development Banks

Levy Economic Institute Working Paper No. 95
Number of pages: 35 Posted: 13 Feb 1999
Bard College - Levy Economics Institute, Colorado State University and University of Missouri at Kansas City
Downloads 175 (214,581)
Citation 1

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59.

Economic Time

Levy Economics Institute Working Paper No. 255
Number of pages: 23 Posted: 11 Mar 1999
John F. Henry and L. Randall Wray
California State University, Sacramento - Department of Economics and University of Missouri at Kansas City
Downloads 173 (216,677)
Citation 1

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60.

Financial Aspects of the Social Security 'Problem'

Journal of Economic Issues, Vol. 34, No. 2, June 2000
Number of pages: 15 Posted: 28 Jan 2014
Stephanie Bell and L. Randall Wray
University of Missouri at Kansas City - Economics and University of Missouri at Kansas City
Downloads 168 (222,197)

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Social Security reform, Social Security funding, Social Security Trust Fund, funding crises

61.

The 'Kansas City' Approach to Modern Money Theory

Levy Economics Institute of Bard College, 2020
Number of pages: 41 Posted: 13 Aug 2020
L. Randall Wray
University of Missouri at Kansas City
Downloads 166 (225,612)
Citation 2

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Modern Money Theory (MMT), Functional Finance, Chartalism, State Theory of Money, Sectoral Balances, Kansas City Approach, Job Guarantee, Sovereign Currency

62.

Is Jefes De Hogar an Employer of Last Resort Program? An Assessment of Argentina's Ability to Deliver the Promise of Full Employment and Price Stability

Number of pages: 27 Posted: 16 Oct 2008
Pavlina R. Tcherneva and L. Randall Wray
Bard College - The Levy Economics Institute and University of Missouri at Kansas City
Downloads 162 (229,095)
Citation 8

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employer of last resort, ELR, full employment, Jefes de Hogar program, Argentina unemployment

63.

Money in Finance

Levy Economics Institute of Bard College Working Paper No. 656
Number of pages: 15 Posted: 20 Mar 2011
L. Randall Wray
University of Missouri at Kansas City
Downloads 161 (230,306)

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Money, Money of Account, Finance, Financial Instruments, Financial Institutions, Financial Innovation, Financialization, Liquidity, Saving, State Money, Chartalism, Shadow Bank, Hyman Minsky, Securitization, Robert Clower

64.

The Financial Crisis Viewed from the Perspective of the 'Social Costs' Theory

Levy Economics Institute, Working Papers Series
Number of pages: 26 Posted: 03 Apr 2011
L. Randall Wray
University of Missouri at Kansas City
Downloads 146 (249,702)
Citation 2

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Hyman Minsky, Kapp, Galbraith, Veblen, Coase, Theory of Social Costs, Efficient Markets Hypothesis, Money, Finance, Social Efficiency, Social Provisioning, Shadow Banks, Financial Innovation, Casino Capitalism, Securitization, Deregulation, Self-Supervision

65.

Keynes after 75 Years: Rethinking Money as a Public Monopoly

Levy Economics Institute, Working Papers Series No. 658
Number of pages: 20 Posted: 28 Mar 2011
L. Randall Wray
University of Missouri at Kansas City
Downloads 146 (249,702)
Citation 2

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Money, Public Monopoly, Monetary Theory of Production, Keynes, Marx, Veblen, Knapp, Chartalism

66.

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

Levy Economics Institute, Working Paper No. 580
Number of pages: 23 Posted: 16 Oct 2009
L. Randall Wray
University of Missouri at Kansas City
Downloads 140 (258,188)

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finance, saving, budget deficits, current account deficits, financial crisis

67.

Minsky on Banking: Early Work on Endogenous Money and the Prudent Banker

Levy Economics Institute of Bard College Working Paper No. 827
Number of pages: 28 Posted: 11 Jan 2015
L. Randall Wray
University of Missouri at Kansas City
Downloads 136 (264,202)
Citation 1

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Banks, Deposit Multiplier, Endogenous Money, Financial Innovation, Financial Instability Hypothesis, Horizontalists, Minsky, Originate to Distribute, Prudent Banking, Say’s Law, Securitization

68.

A Meme for Money

Levy Economics Institute of Bard College Working Papers No. 736
Number of pages: 23 Posted: 27 Nov 2012
L. Randall Wray
University of Missouri at Kansas City
Downloads 134 (267,219)

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Modern Money Theory, Framing, Meme, Lakoff, Fiscal Policy, Deficits, Money, Monetary Policy

69.

The Rise of Money and Class Society: The Contributions of John F. Henry

Levy Economics Institute, Working Papers Series No. 832
Number of pages: 29 Posted: 13 Feb 2015
Alla Semenova and L. Randall Wray
SUNY Potsdam - Economics and University of Missouri at Kansas City
Downloads 133 (268,711)

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Nature of Money, Chartalism, Metallism, Origins of Money, Origins of Coinage, Inequality, Class, Ideology, Religious Ideology, State Formation, State Theory of Money, Modern Money Theory

70.

Financial Keynesianism and Market Instability

Levy Economics Institute Working Papers Series No. 653
Number of pages: 28 Posted: 18 Mar 2011
L. Randall Wray
University of Missouri at Kansas City
Downloads 121 (288,335)
Citation 2

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Hyman Minsky, Fisher-Minsky Debt Deflation, Hilferding, Finance Capitalism, Money Manager Capitalism, Financial Keynesian

71.

A Minskyan Road to Financial Reform

Levy Economics Institute Working Papers Series No. 655
Number of pages: 20 Posted: 18 Mar 2011
L. Randall Wray
University of Missouri at Kansas City
Downloads 119 (291,839)
Citation 4

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Global Financial Crisis, Hyman Minsky, Financial Reform, Basel III, Capital Development, Banks

72.

Public Employment and Women: The Impact of Argentina's Jefes Program on Female Heads of Poor Households

Levy Economics Institute Working Papers Series No. 519
Number of pages: 41 Posted: 13 Nov 2007
Pavlina R. Tcherneva and L. Randall Wray
Bard College - The Levy Economics Institute and University of Missouri at Kansas City
Downloads 119 (291,839)
Citation 9

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Argentina, Jefes y Jefas, Public Employment, Women

73.

The Credit Money and State Money Approaches

Number of pages: 13 Posted: 29 Jan 2014
L. Randall Wray
University of Missouri at Kansas City
Downloads 114 (300,723)

Abstract:

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state money, credit money, history of money

74.

Imbalances? What Imbalances? A Dissenting View

Levy Economics Institute Working Paper No. 704
Number of pages: 24 Posted: 05 Feb 2012
L. Randall Wray
University of Missouri at Kansas City
Downloads 114 (302,626)
Citation 2

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Global Imbalances, Sectoral Balances Approach, Modern Money Theory, Debt Cancellation, Global Financial Crisis, Euro Crisis, EMU, State Theory of Money, Functional Finance

75.

Monetary Policy: An Institutionalist Approach

Number of pages: 25 Posted: 29 Jan 2014
L. Randall Wray
University of Missouri at Kansas City
Downloads 109 (310,319)

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Institutionalist approach to money, history of money, monetary policy, Currency School, Banking School, Walter Bagehot, Federal Reserve, monetarism, nonneutrality of money

76.

Financial Instability

Number of pages: 7 Posted: 29 Jan 2014
L. Randall Wray
University of Missouri at Kansas City
Downloads 105 (318,413)

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financial instability, causes of economic instability, Marx, Fisher, Keynes, Mynsky, financial theory of investment, investment theory of the cycle

77.

Options for China in a Dollar Standard World: A Sovereign Currency Approach

Levy Economics Institute of Bard College Working Paper No. 783
Number of pages: 77 Posted: 12 Jan 2014
L. Randall Wray, Xinhua Liu and Xinhua Liu
University of Missouri at Kansas City and Shaanxi Normal UniversityShaanxi Normal University
Downloads 99 (330,939)
Citation 2

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China, Policy Space, Fiscal and Monetary Policy, Sectoral Balances Approach, Minsky, Sovereign Currency, Modern Money Theory, Middle-Income Trap, Financial Instability

78.

Demand Constraints and Big Government

Levy Economics Institute's Working Paper No. 488
Number of pages: 27 Posted: 19 Jan 2007
L. Randall Wray
University of Missouri at Kansas City
Downloads 96 (337,601)
Citation 2

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Demand Constraints, Economic Growth, Domar, Vatter and Walker, Sectoral Balances

79.

The Euro Crisis and the Job Guarantee: A Proposal for Ireland

Levy Economics Institute of Bard College Working Paper No. 707
Number of pages: 19 Posted: 18 Feb 2012
L. Randall Wray
University of Missouri at Kansas City
Downloads 92 (346,740)

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Euro Crisis, Financial Crisis in Ireland, Employer of Last Resort, Job Guarantee, Bank Bailout, Irish Debt Crisis, Government Debt Crisis, Minsky

80.

Currency Sovereignty and the Possibility of Full Employment

Number of pages: 10 Posted: 29 Jan 2014
L. Randall Wray
University of Missouri at Kansas City
Downloads 78 (383,115)

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full employment, sovereign currency, employer of last resort, fiscal policy

81.

The Employer of Last Resort Approach to Full Employment

Number of pages: 15 Posted: 28 Jan 2014
L. Randall Wray
University of Missouri at Kansas City
Downloads 66 (419,972)
Citation 4

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ELR, employer of last resort, unemployment, full employment, inflation

82.

Fiscal Reform to Benefit State and Local Governments: The Modern Money Theory Approach

Levy Economics Institute, Working Paper No. 936
Number of pages: 30 Posted: 12 Sep 2019
L. Randall Wray
University of Missouri at Kansas City
Downloads 65 (423,300)

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Modern Money Theory, Budget Deficits, State and Local Government Finance, Devolution, Generational Accounting, Stakeholder Approach

83.

International Aspects of Current Monetary Policy

Number of pages: 15 Posted: 29 Jan 2014
L. Randall Wray
University of Missouri at Kansas City
Downloads 65 (423,300)

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monetary policy, sovereign currency, floating exchange rate, central bank monetization, central bank sterilization, liquidity, twin deficits, exchange rates

84.

Public Service Employment: Full Employment Without Inflation

Number of pages: 23 Posted: 28 Jan 2014
L. Randall Wray
University of Missouri at Kansas City
Downloads 59 (444,186)
Citation 4

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public service employment, employer of last resort, full employment, unemployment, inflation, wages, prices, welfare, federal deficit, WPA, exogenous pricing, price stabilization, buffer stock, zero employment

85.

Is Euroland the Next Argentina?

Number of pages: 17 Posted: 29 Jan 2014
L. Randall Wray
University of Missouri at Kansas City
Downloads 58 (447,805)
Citation 3

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Euro, European Community, fiscal policy, currency risks, sovereign government, floating currency, dollarized currency

86.

Monetary and Fiscal Operations in the People's Republic of China: An Alternative View of the Options Available

Asian Development Bank Economics Working Paper Series No. 380
Number of pages: 29 Posted: 12 Aug 2014
L. Randall Wray and Yolanda Fernandez-Lommen
University of Missouri at Kansas City and Asian Development Bank
Downloads 53 (466,566)
Citation 2

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fiscal and monetary policy options, sectoral balances approach, sovereign currency approach, middle-income trap, modern money theory

87.

Understanding Policy in a Floating Rate Regime

Number of pages: 31 Posted: 29 Jan 2014
L. Randall Wray
University of Missouri at Kansas City
Downloads 49 (482,736)
Citation 2

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ELR, full employment, sovereign currency, floating rate regime

88.

Social Security: Long-Term Financing and Reform

Number of pages: 16 Posted: 28 Jan 2014
L. Randall Wray
University of Missouri at Kansas City
Downloads 47 (491,230)

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Social Security funding, Social Security Trust Fund, funding crises, Social Security privatization

89.

Outside Money: The Advantages of Owning the Magic Porridge Pot

Levy Economics Institute of Bard College Working Papers No. 821
Number of pages: 27 Posted: 14 Dec 2014
L. Randall Wray
University of Missouri at Kansas City
Downloads 44 (504,496)
Citation 13

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Central Bank Independence, Chartalism, Fiat Money, Functional Finance, Innes, Keynes, Knapp, Modern Money Theory, Outside Money, Sovereign Currency, State Money

90.

Is There Room for Bulls, Bears, and States in the Circuit?

Levy Economics Institute of Bard College Working Paper No. 700
Number of pages: 20 Posted: 24 Dec 2011
L. Randall Wray
University of Missouri at Kansas City
Downloads 40 (522,963)

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Circuit Approach, Liquidity Preference, Banks as Ephor of Capitalism, J. M. Keynes, J. A. Schumpeter, A. Parguez, J. A. Kregel, Chartalist, Modern Money Theory, State Money, Credit Money, Default

91.

Can Penal Keynesianism Replace Military Keynesianism?

Number of pages: 17 Posted: 28 Jan 2014
L. Randall Wray
University of Missouri at Kansas City
Downloads 38 (532,691)
Citation 1

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military Keynesianism, penal Keynesianism, unemployment, prison population, prison demographics, public service employment

92.

Flexible Exchange Rates, Fed Behavior, and Demand Constrained Growth in the USA

Number of pages: 31 Posted: 29 Jan 2014
L. Randall Wray
University of Missouri at Kansas City
Downloads 33 (558,839)

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flexible exchange rates, Federal Reserve, overnight interest rate target, demand-constrained growth, fiscal policy constraints, floating-rate regime, fiat money standard, full employment

93.

Why President Biden Should Eliminate Corporate Taxes to Build Back Better

Number of pages: 5 Posted: 23 Jul 2021
Edward Lane and L. Randall Wray
Department of Finance, University at Albany and University of Missouri at Kansas City
Downloads 18 (655,742)

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taxes, MMT, economics, fiscal policy, corporate taxes, infrastructure

94.

How to Pay for the Green New Deal

Levy Economics Institute, Working Papers Series 931 (2019)
Number of pages: 56 Posted: 14 Jun 2019
Yeva Nersisyan and L. Randall Wray
Franklin and Marshall College and University of Missouri at Kansas City
Downloads 9 (724,549)
Citation 11

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Green New Deal, Keynes, How to Pay for the War, Modern Money Theory

95.

Sovereign Currency and Non‐Sovereign Budgets: The Modern Money Theory Approach

Public Budgeting & Finance, Vol. 40, Issue 3, pp. 26-48, 2020
Number of pages: 23 Posted: 07 Oct 2020
L. Randall Wray
University of Missouri at Kansas City
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96.

The Rise and Fall of Money Manager Capitalism: A Minskian Approach

Cambridge Journal of Economics, Vol. 33, No. 4, pp. 807-828, 2009
Posted: 15 Jul 2009
L. Randall Wray
University of Missouri at Kansas City

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Hyman Minsky, Finance capitalism, Money manager capitalism, Financial crisis, Subprime crisis, Real estate boom and bust, Credit default swaps, Commodities market boom and bust, Securitisation, G01, G20, E12, E32, E44, E5, E60, N10, P16

97.

Banking, Finance, and Money: A Socioeconomics Approach

Levy Economics Institute Working Paper No. 459
Posted: 20 Jul 2006
L. Randall Wray
University of Missouri at Kansas City

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money, origins of money, credit, fiat money, exchange rate regimes, fiscal policy

98.

The Development and Reform of the Modern International Financial System

Levy Economics Institute Working Paper No. 225
Posted: 05 Aug 1998
L. Randall Wray
University of Missouri at Kansas City

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99.

Targeting Inflation: The Effects of Monetary Policy on the CPI and its Housing Component

Posted: 16 Dec 1996
Dimitri B. Papadimitriou and L. Randall Wray
Bard College - Levy Economics Institute and University of Missouri at Kansas City

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