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Associate Professor of Economics

717-291-3926

lrin.arefvflna@snaqz.rqh

Office: STA 334

Education

B.A., Yerevan State University (Armenia)

M.A., University of Missouri-Kansas City

Ph.D., University of Missouri-Kansas City

Teaching

 

ECO 103: Introduction to Economic Perspectives

ECO 201: Intermediate Macroeconomics

ECO 231: Money and Banking

ECO 244: Women in the Economy

ECO 315: Macroeconomic Stability

Student Collaborations

Lien Pham (Quantitative Easing, Honors); Yiqi Liu (Full-Reserve Banking, Independent Study); Layla Thomas (Bank Supervision, Hackman Scholar, Research Assistant); Pedro de Almeida (Bank Supervision, Research Assistant); Akshay Mehra (Special Impact Bonds, Independent Study); Niriksha Shetty (the Eurozone Crisis, Honors); Arya Bhattarai (Credit Crunches, LEC collaboration).

Publications

Peer-Reviewed Journal Articles

''Cranks and Heretics: The importance of an Analytical Framework'' (rejoinder), Cambridge Journal of Economics, Vol. 41, Issue 6, November 2017, (with L. Randall Wray).

''Rethinking Liquidity Creation: Banks, Shadow Banks and the Elasticity of Finance'', Journal of Post Keynesian Economics, Vol. 40, Issue 3, 2017 (with Flavia Dantas).

“Modern Money Theory and the Facts of Experience”, Cambridge Journal of Economics, Volume 40, Issue 5, September 2016 (with L. Randall Wray).

“The Repeal of the Glass-Steagall Act and the Federal Reserve’s Extraordinary Intervention during the Global Financial Crisis”, Journal of Post Keynesian Economics, Volume 37, Issue 4, July 2015: 545-67.

 “The Global Financial Crisis and the Shift to Shadow Banking”, European Journal of Economics and Economic Policies, 7(2), November 2010: 377-400 (with L. Randall Wray).

 

Articles in Edited Volumes and Encyclopedia Entries

''Money and the Issues of the Age: The Nature of Money and Post-Crisis Proposals for Reform’’ in Nelms, T. and David Pedersen (eds.), A Cultural History of Money, Bloomsbury Publishing, forthcomimg

“Alternative Theories of Money and Macroeconomic Policy” in Jacobs M. And Mariana Mazzucato  (eds.), Rethinking Capitalism: Economic Policy for Sustainable and Equitable Growth. Wiley-Blackwell, August 2016 (with L. Randall Wray).

“Universal Job Guarantee Program: Towards True Full Employment” (with L. R. Wray), in Robert Rycroft, (ed.), The Economics of Inequality, Poverty and Discrimination in the 21st Century, March 2013.

 “Money Manager Capitalism”, in John King, (ed.), The Elgar Companion to Post-Keynesian Economics, 2012.

“Is the U.S. on an Unsustainable Path? Lessons from the Past as Detailed by Reinhart and Rogoff” (with L. Randall Wray) in Onaran, O., Torsten Niechoj, Engelbert Stockhammer, Achim Truger, and Till van Treeck (eds.) Stabilizing an Unequal Economy? Public Debt, Financial Regulation, and Income Distribution. Metropolis. Marburg, October 2011.

“A Review essay of This Time is Different, by Reinhart and Rogoff” (with L. Randall Wray), Challenge Magazine, January-February 2011.

"Shadow Banking Systems", entry in “Booms and Busts: An Encyclopedia of Economic History from Tulipmania of the 1630s to the Global Financial Crisis of the 21st Century” (James Ciment, ed.), M.E. Sharpe, August 2010.

“The Transformation of the Financial System: Financialization, Concentration and the Shift to Shadow Banking” (with L. Randall Wray) in D. Tavasci and Jan Toporowski (eds.), Minsky, Crisis and Development, Palgrave Macmillan, August 2010.

 

Published Policy Notes and Policy Briefs

 “Un excès de dette publique handicape-t-il réellement la croissance?" (with L. Randall Wray), Revue de l'OFCE, 2011/1 n° 116.

“Endgame for the Euro? Without major restructuring, the Eurozone is doomed” (with Dimitri Papadimitriou and L. Randall Wray), Public Policy Brief No. 113, Levy Economics Institute, July 2010.

“The Trouble With the Pensions: Towards an Alternative Policy to Support Retirement” (with L. Randall Wray), Public Policy Brief, Levy Economics Institute, March 2010.

 

Research Interests

Modern Money Theory, Monetary and Fiscal Policy, Financial Instability, Shadow Banking, Financial Regulation,  European Monetary Integration, Post Keynesian Economics, Institutional Economics.

Presentations

2017: Eastern Economic Association Annual Conference; STOREP Conference; Modern Money Theory Conference

2015: Association for Evolutionary Political Economy Annual Conference

2014: Workshop on Improving the Governance of the Government Safety Net in Financial Crises, Ford Foundation funded research, Levy Economics Institute (Invited); School of Graduate Studies, Universidad National Autónoma de Mexico, Mexico City (2 presentations, invited); Allied Social Science Association Annual Conference (Discussant).

2013: Research Network Macroeconomics and Macroeconomic Policies Annual Conference (Berlin); University of the Basque Country Annual Conference on Developments in Economic Theory and Policy (Bilbao, Spain); Eastern Economic Association Annual Conference; Workshop on Improving the Governance of the Government Safety Net in Financial Crises, Ford Foundation funded research, University of Missouri-Kansas City.

2011: Post Keynesian Conference at Roskilde University (Denmark); Workshop on Improving the Governance of the Government Safety Net in Financial Crises, Ford Foundation, NYC (Invited).

2010: Allied Social Science Association Conference (Denver, CO); Annual Minsky Conference, Levy Economics Institute (Annandale-on-Hudson, NY); University of Missouri-Kansas City Department of Economics Monthly Money Seminar.

2009: Asian Development Bank Research Workshop (invited, Almaty, Kazakhstan); Research Network on Macroeconomics and Macroeconomic Policies Annual Conference (Berlin); University of Missouri-Kansas City, Economics Dept. Monthly Money Seminar