The Political Economy Research Institute (PERI) promotes human and ecological well-being through our original research. Our approach is to translate what we learn into workable policy proposals that are capable of improving life on our planet today and in the future. In the words of the late Professor Robert Heilbroner, we at PERI “strive to make a workable science out of morality.”

Established in 1998, PERI is an independent unit of the University of Massachusetts, Amherst, with close ties to the Department of Economics. PERI staff frequently work collaboratively with faculty members and graduate students from the University of Massachusetts, and other economists from around the world. Since its founding, PERI has become a leading source of research and policy initiatives on issues of globalization, unemployment, financial market instability, central bank policy, living wages and decent work, and the economics of peace, development, and the environment.

Follow

Submissions from 2021

PDF

Financialization and Militarization: An Empirical Investigation, Pelin Akçagün and Adem Yavuz Elveren

PDF

Did Alcohol Policy Really Cause the Postsocialist Mortality Crisis? Revisiting the Rebound and Affordability Hypotheses, Aytalina Azarova, Gabor Scheiring, Michael Ash, and Lawrence King

PDF

U.S. Monetary Policy and the Decline in the Interest Rates (1990-2007), Santiago Capraro, Carlo Panico, and Luis Daniel Torres-González

PDF

Post-American Moments in Contemporary Global Financial Governance, Ilene Grabel

PDF

Predicting Chinese Banking Policy Incidence, Sara Hsu

PDF

Predicting Chinese State-Owned Enterprise Policy Incidence, Sara Hsu

PDF

The Impact of Environmental Regulations on Manufacturing Outsourcing: Re-examining the Pollution Haven Effect in Global Value Chains, An Li

PDF

Notes on Covid-19, Potential GDP, and Hysteresis, Thomas R. Michl

PDF

Path Dependence and Stagnation in a Classical Growth Model, Thomas R. Michl and Daniele Tavani

PDF

Is There a Case for National Development Banks in Africa? Conceptual Rationale and Empirical Evidence, Léonce Ndikumana, Karmen Naidoo, and Francisco Perez

PDF

National Policy Space: Reframing the Political Economy of Globalization and Its Implications for National Sovereignty and Democracy, Thomas Palley

PDF

Financialization, Deindustrialization and Instability in Latin America, Esteban Pérez Caldentey and Matías Vernengo

PDF

Does Project-Level Foreign Aid Increase Access to Improved Water Sources? Evidence from Household Panel Data in Uganda, Lynda Joyce Pickbourn, Raymond Caraher, and Léonce Ndikumana

PDF

The Flimsy Foundations of Neoliberal Macroeconomics: David Gordon on Saving, Investment, and the Natural Rate of Unemployment, Robert Pollin

PDF

Work and Social Reproduction in Rural India: Lessons from Time-Use Data, Smriti Rao, Smita Ramnarain, Sirisha Naidu, Anupama Uppal, and Avanti Mukherjee

PDF

Deindustrialization and the Postsocialist Mortality Crisis, Gabor Scheiring, Aytalina Azarova, Darja Irdam, Katarzyna Doniec, Martin McKee, and Lawrence King

PDF

Stranded Fossil-Fuel Assets Translate into Major Losses for Investors in Advanced Economies, Gregor Semieniuk, Philip B. Holden, Jean-Francois Mercure, Pablo Salas, Hector Pollitt, Katharine Jobson, Pim Vercoulen, Unnada Chewpreecha, Neil R. Edwards, and Jorge Viñuales

PDF

The Public Banking Movement in the United States: Networks, Agenda, Initiatives, and Challenges, Esra Nur Ugurlu and Gerald Epstein

PDF

Mapping Religion, Space, and Economic Outcomes in Indian Cities, Vamsi Vakulabharanam and Sripad Motiram

PDF

The (Im-)Possibility of Rational Socialism: Mises in China’s Market Reform Debate, Isabella Weber

PDF

The Nature of Money and the Theory of International Trade: Thornton and Ricardo, Isabella Weber

PDF

The Nature of Money and the Theory of International Trade: Thornton and Ricardo, Isabella Weber

PDF

The State-Constituted Market Economy: A Conceptual Framework for China’s State–Market Relations, Isabella Weber and Hao Qi

PDF

SDG 8: Decent Work and Economic Growth, Zhun Xu and Shouvik Chakraborty

PDF

Regulated Market, Trapped Workers: The Impacts of the "Tolerant and Prudent" Policy on Labour Precarity in China’s Online Ridehailing Sector, Wei Zhang, Hao Qi, and Zhongjin Li

Submissions from 2020

PDF

Delhi Green Deal, Rohit Azad and Shouvik Chakraborty

PDF

Is Imperialism Passé in the 21st Century?, Rohit Azad and Shouvik Chakraborty

PDF

Political Economy of the Environment: A Look Back and Ahead, James K. Boyce

PDF

Do Firms with Higher Energy Efficiency Have Better Access to Finance?, Philipp-Bastian Brutscher, Pauline Ravillard, and Gregor Semieniuk

PDF

Zombie Prevalence and Survival, Debamanyu Das and Saurabh Roy

PDF

Should Economists Deceive? Prosocial Lying, Paternalism, and the ‘Ben Bernanke Problem’, George DeMartino

PDF

How Race and Gender Shape COVID-19 Unemployment Probability, Armagan Gezici and Ozge Ozay

PDF

A Three Class Predator-Prey Model with Financial Super Predators: The Financial Profit Squeeze, Jonathan Goldstein

PDF

Government Policy’s Influence on Shadow Banking in China, Sara Hsu

PDF

Corporate Political Power and US Foreign Policy, 1981-2002: The Role of the Policy-Planning Network, Philip Luther-Davies, Kasia Julia Doniec, Joseph P. Lavallee, G. William Domhoff, and Lawrence P. King

PDF

Bitter Chocolate: Wealth Extraction in Côte D'ivoire, Jean Merckaert

PDF

Coronavirus Fiscal Policy in the United States: Lessons from Feminist Political Economy, Katherine A. Moos

PDF

The State's Response to the Crisis of Neoliberalism: A Comparison of the Net Social Wage in China and the United States, 1992-2017, Katherine A. Moos and Hao Qi

PDF

Intra-City Inequalities, Neighborhoods and Economic Development, Sripad Motiram and Vamsi Vakulabharanam

PDF

The Janus Faces of Money, Property, and Governance: Fiscal Finance, Empire, and Race, Jamee K. Moudud

PDF

Looming Debt Crisis in Sub-Saharan Africa: Drivers, Implications and Policy Options, Léonce Ndikumana, Theresa Mannah-Blankson, and Angelica Espiritu Njuguna

PDF

Capital Flight From South Africa: A Case Study, Léonce Ndikumana, Karmen Naidoo, and Adam Aboobaker

PDF

Re-Making of the Turkish Crisis, Özgür Orhangazi and Erinç Yeldan

PDF

Public Investment in Home Health Care: A Win-Win Strategy for Employment and Public Health, Lenore Palladino

PDF

What’s Wrong with Modern Money Theory: Macro and Political Economic Restraints on Deficit-Financed Fiscal Policy, Thomas Palley

PDF

Beyond the Coronavirus: Understanding Crises of Social Reproduction, Smriti Rao

PDF

Privatization and the Postsocialist Fertility Decline, Gabor Scheiring, Bryant P. H. Hui, Darja Irdam, Aytalina Azarova, Eva Fodor, Gosta Esping-Andersen, Lawrence King, and David Stuckler

PDF

Deindustrialization and Deaths of Despair: Mapping the Impact of Industrial Decline on Ill Health, Gabor Scheiring, David Stuckler, and Lawrence King

PDF

Low-Carbon Transition Risks for Finance, Gregor Semieniuk, Emanuele Campiglio, Jean-Francois Mercure, Ulrich Volz, and Neil R. Edwards

PDF

Low-Carbon Transition Risks for Finance, Gregor Semieniuk and Isabella M. Weber

PDF

The U.S.–China Trade Imbalance and the Theory of Free Trade: Debunking the Currency Manipulation Argument, Anwar Shaikh and Isabella Weber

PDF

Monetizing Public Debt in Japan: An Empirical Critique of Modern Money Theory, Junji Tokunaga

PDF

South Asian Economies in Two Imperialist Regimes Between 1950 and 2020, Vamsi Vakulabharanam

PDF

Gender and Work Patterns in Indian Cities: A Socio-Spatial Analysis, Vamsi Vakulabharanam and Sripad Motiram

PDF

A General Equilibrium Analysis of the Impact of the COVID-19 Outbreak on Turkey’s Economy and a Policy Alternative to Protect Labor Incomes, Ebru Voyvoda and A. Erinç Yeldan

PDF

Potential Reserve Army and Diverging Paths of Transition in Former State Socialist Economies, Zhun Xu

Submissions from 2019

PDF

International Trade and Capital Flight From Africa: Challenges for Governance, Melvin D. Ayogu

PDF

Dominance of Majoritarian Politics and Hate Crimes Against Religious Minorities in India, 2009-2018, Deepankar Basu

PDF

Revisiting India's Growth Transitions, Deepankar Basu

PDF

Why Do Firms Impose Vertical Restraints? Evidence from Franchise Contracts, Brian Callaci

PDF

From the Classical to Empiricists: A review of the terms of trade controversy, Shouvik Chakraborty and Prabirjit Sarkar

PDF

From Trilemma to Dilemma: Monetary Policy Effectiveness after the Bretton Woods World, Hasan Cömert

PDF

Competition and Monopoly in the U.S. Economy: What do Industrial Concentration Data Tell?, Leila Davis and Özgür Orhangazi

PDF

Informality, Inequality, and Feminization of Labor, Ceyhun Elgin and Adem Yavuz Elveren

PDF

The Institutional, Empirical and Policy Limits of ‘Modern Money Theory’, Gerald Epstein

PDF

Industry Concentration and Technological Progress in U.S. Industries, Armağan Gezici

PDF

Structural Change in India and China: External Sustainability and the Middle-Income Trap, Suranjana Nabar-Bhaduri and Matías Vernengo

PDF

Magnitudes and Mechanisms of Capital Flight from Angola, Côte d'Ivoire and South Africa, Léonce Ndikumana and James K. Boyce

PDF

The odd fiscal ‘implicit bargain’ in the Eurozone. A continental view of sovereignty., Ignacio Ramirez Cisneros

PDF

Structured Conflict: Changes in Federal and State Labor Laws and Strike Activity, 1950 to 2017, Mark Stelzner, Eric Hoyt, and Toushita Ramchurn

PDF

A Multidimensional Approach to Gender Gap in Poverty: An Application for Turkey, Hasan Tekgüç and Bengi Akbulut

PDF

The Revised U.S. Treasury Securities Standard System, Junji Tokunaga

PDF

Modern Money Theory (MMT) in the Tropics: Functional Finance in Developing Countries, Matías Vernengo and Esteban Pérez Caldentey

PDF

Unpaid Family Caregiving and Retirement Savings, Christian E. Weller and Michele Tolson

PDF

The Persistence of Racial Inequality: The Earnings Gap Among Women from 1979-2016, Jeannette Wicks-Lim

PDF

Effects of Carbon Mitigation on Co-pollutants at Industrial Facilities in Europe, Klara Zwickl, Simon Sturn, and James K. Boyce

Submissions from 2018

PDF

External Balance Sheets of Emerging Economies: Low-Yielding Assets, High-Yielding Liabilities, Yilmaz Akyüz

PDF

A Policy Proposal for Green Jobs in India: A Quantitative Analysis on Inclusivity of Green Jobs, Rohit Azad and Shouvik Chakraborty

PDF

Green Growth and the Right to Energy in India, Rohit Azad and Shouvik Chakraborty

PDF

Colonial Institutions, Geography, or Post-Colonial Policy? Evidence on Long-Term Comparative Development from a Natural Experiment in South Asia, Shahram Azhar

PDF

A Marxist Theory of Rent, Deepankar Basu

PDF

Liquidity, Bank Runs, and Fire Sales Under Local Thinking, Thomas Bernardin and Hyun Woong Park

PDF

Carbon Pricing: Effectiveness and Equity, James K. Boyce

PDF

Monetary Policy in Liberalized Financial Markets: The Mexican Case, Santiago Capraro and Carlo Panico

PDF

Community-Driven Development and Collective Action: Overcoming Clientelism, Elite Capture, and Free Riding, Jessica Carrick-Hagenbarth

PDF

Is It Merely A Labor Supply Shock? Impacts of Syrian Migrants on Local Economies in Turkey, Doruk Cengiz and Hasan Tekguc

PDF

A Tale of Three Crises in Turkey: 1994, 2001, and 2008-09, Hasan Cömert and Erinç Yeldan

PDF

Spreading the Washington Consensus into Food and Agriculture Sectors: The Case of the International Monetary Fund, Adel Daoud, Bernhard Reinsberg, Alexander E. Kentikelenis, Thomas H. Stubbs, and Lawrence P. King

PDF

By the Content of their Character? Discrimination, Social Identity, and Observed Distributions of Income, Paulo L. dos Santos and Noé Wiener

PDF

Kuznets, Kaya, and Shapley: The Economic and Energetic Determinants of Carbon Emissions and the Implications for Development and Environmental Policy, Heidi Garrett-Peltier

PDF

The Global Financial Governance Architecture, Developmental Finance, and the Hirschmanian Mindset, Ilene Grabel

PDF

Economics and Climate Justice Activism: Assessing the Fossil Fuel Divestment Movement, Tyler Hansen and Robert Pollin

PDF

Environmental Destruction in the New Economy: Offshore Finance and Mangrove Forest Clearance in Grand Cayman, Katrina Jurn, Joseph Lavallee, and Lawrence King

PDF

Re-Conceptualizing Processes of Post-Colonial Development in Pakistan: The Interplay of Institutions and Class, Danish Khan

PDF

Neoliberal Redistributive Policy: The U.S. Net Social Wage in the 21st Century, Katherine A. Moos

PDF

On the Measurement of “Grayness” of Cities, Sripad Motiram and Vamsi Vakulabharanam

PDF

Reproductive Work and Female Labor Force Participation in Rural India, Sirisha C. Naidu and Smriti Rao

PDF

Magnitude and Mechanisms of Capital Flight from Angola, Côte d’Ivoire and South Africa, Léonce Ndikumana and James Boyce

PDF

State and Capitalist Class in China’s Economic Transition: From Great Compromise to Strained Alliance, Isabel Nogueira and Hao Qi

PDF

The Role of Intangible Assets in Explaining the Investment-Profit Puzzle, Özgür Orhangazi