Pavlina R Tcherneva

President @LevyEcon;

Professor of Economics @BardCollege;

Director @EDI_Tweets;

Author, The Case for a Job Guarantee

[Pavlina R Tcherneva @ptcherneva]

Unemployment is a policy choice.
Accepting it as a perennial feature of the economy and an unfortunate but unavoidable situation IS a self-imposed intellectual handicap.
It causes so much pain and devastation.
We can choose differently:
https://t.co/p7s83GAM6X

[Levy Institute @LevyEcon]

Celebrating Wynne Godley’s 100th w/ these archival photos from the 2013 NYT article, “Embracing Wynne Godley, the Economist Who Modeled the Crisis”.

Read more from Godley's legacy at: https://t.co/GNPTEX2YdM

#economics #Macromodeling

@ptcherneva @michlstephens @MastersonLevy

[Pavlina R Tcherneva @ptcherneva]

And neither should Warsh.

[Isabella M Weber @IsabellaMWeber]

Just in time for the latest oil price spike, we published our article urging the ECB not to hike rates to fight a supply shock. Europe needs a new inflation governance for shockflation. We need disaster preparedness for essentials instead of increasing investment costs.

[Pavlina R Tcherneva @ptcherneva]

Apply today to the Levy MS/MA programs.
Early decision applicants get priority for financial aid.

[Levy Institute @LevyEcon]

Applications for Fall 2027 open tomorrow!

Visit our website at https://t.co/l8EqiT48vK or register for an upcoming webinar to learn more.

#economicsgraduateprogram #hetrodoxeconomics #highereducation @ptcherneva @michlstephens @MastersonLevy

[Levy Institute @LevyEcon]

Levy President, Pavlina Tcherneva, checked in with NPR Marketplace about why the connection between consumer expectations and inflation matters.

#inflation #economics #NPR #energyprices
@ptcherneva @michlstephens @MastersonLevy

https://t.co/gtoKM2N6d9

[William Thomson @Williamgallus]

Paying interest on central bank reserves "is essentially a publicly funded guaranteed income to private finance that does nothing to encourage lending to the “real economy.” Too true @ptcherneva https://t.co/WTRGFiJoNh

[Levy Institute @LevyEcon]

Can the Fed Chairman and Treasury Secretary Do Their Job and at the Same Time Please Their Boss?

#Superwealthy #AIbubble #CircularFinancing #economics

@ianmastersmedia @ptcherneva @kpfk https://t.co/uL7icTHEE8

[TRVC Podcast @TRVCPodcast]

@imgekayasabanci @Ferreras_Isa @julie_battilana @ptcherneva @landemore @LafuenteSara @IE_BSRG @SICIHarvard @EditionsduSeuil @CageJulia English edition: Democratize Work: The Case for Reorganizing the Economy https://t.co/pK5Clv95F5

[Pavlina R Tcherneva @ptcherneva]

I joined The Background Briefing to talk about why monetary and fiscal policy and financial markets are a threat to already fragile American households.
Can the Fed Chairman and Treasury Sec Do Their Job at the Same Time Please Their Boss? via #soundcloud https://t.co/VhMPIqkV9M

[Levy Institute @LevyEcon]

James Galbraith revisits his 2011 essay, "Is the Federal Debt Unsustainable," to remind us that cries of wolf over the federal debt remain just that.

#FiscalPolicy #InterestRates #money #economics @ptcherneva @J_K_Galbraith

https://t.co/xRL6R6Are5

[Nathan J Robinson @NathanJRobinson]

It's just false that MMT believes "spending has no consequences." The argument they always made was that spending is constrained ONLY by its consequences rather than by any inherent cap on the amount of money a sovereign government has available to spend.

[Stephanie Kelton @StephanieKelton]

The @wsj published a Craaazy piece invoking me by name, while conveniently failing to inform readers that inflation sits at the core of the MMT project (the second chapter of my book, The Deficit Myth, is literally titled "Think of Inflation.") So, yeah, spending (not just government spending) carries inflation risk (sometimes negligible, sometimes elevated).

[Pavlina R Tcherneva @ptcherneva]

Galbraith: "Is the federal debt “sustainable”? The simplest answer is: “obviously.”"

More from Jamie Galbraith in The Nation.

[Levy Institute @LevyEcon]

Levy Scholar, James Galbraith, explains why the $40 trillion federal debt may not be as unsustainable as it sounds.

#NationalDebt #FederalDebt #economics

https://t.co/KK3nUg4kiH

[Pavlina R Tcherneva @ptcherneva]

@TheStalwart Also ironic how MMT was held responsible for its explanatory power https://t.co/G6uLk6gGN8

[Levy Institute @LevyEcon]

@PavlinaTcherneva examines how public finance was captured by private interests during the 2008 bailouts, pandemic-era fiscal transfers, and the shift towards industrial policy that followed.

https://t.co/eQg9zRSKh9

#Neoliberalism #economics #PublicInterest

[Levy Institute @LevyEcon]

@PavlinaTcherneva examines how public finance was captured by private interests during the 2008 bailouts, pandemic-era fiscal transfers, and the shift towards industrial policy that followed.

https://t.co/eQg9zRSKh9

#Neoliberalism #economics #PublicInterest

[Levy Institute @LevyEcon]

Hiring ticked up slightly in June, and job openings have been trending up since the beginning of the year. But, that's only one factor to consider. Levy's own @ptcherneva looks at the bigger picture on NPR Marketplace. #jobmarket #JOLTS #economics

https://t.co/XhcgrHkZCx

[Charles Patrick @CharliePatrick]

"The real danger from Warsh is not his poor communication style, but the likelihood of increasing dissent on the committee and pressure to raise rates while the AI bubble is likely leading the economy into collapse."

[Charles Patrick @CharliePatrick]

@tomkeene "Warsh doesn’t believe in surprising markets, but then reaches for the Lucas critique to explain why he won’t tell them anything. He says he’s firmly committed to a 2 percent target, but then uses Goodhart’s law to avoid answering which inflation measure he’s" using

[Pavlina R Tcherneva @ptcherneva]

Warsh's "communication fog" isn't the core problem. Volcker rarely spoke & Greenspan's Fedspeak was deliberately vague but neither caused the Fed-driven volatility on their watch. Warsh's monetarist revival will backfire, esp staring into an AI bubble.
📘: https://t.co/EfCk99FOFj

[Pavlina R Tcherneva @ptcherneva]

The new @LevyEcon Strategic Analysis is out and points to increasing fragility in the K-shaped US economy. It also presents a stress-test scenario that examines the maco effects of a sharp correction in AI-driven financial markets.

For more see: https://t.co/uRO0i617Jl

[Pavlina R Tcherneva @ptcherneva]

Lots to say about Warsh's briefing today, but for now ... perfect use of the Lucas critique and Goodhart's law to avoid answering the journalists' questions.

WATCH: Fed chair Warsh holds news conference after leaving interest rate unchanged | PBS News https://t.co/5fiFvg9vLu