Report July 2006

Can the growth in the current account deficit be sustained? A new Strategic Analysis by President Dimitri B. Papadimitriou and Research Scholars Edward Chilcote and Gennaro Zezza focuses on net income as an important component of the deficit, particularly the interest paid by the United States on American debt held abroad.

Contents:

NEW STRATEGIC ANALYSIS

• Can the Growth in the USCurrent Account Deficit Be Sustained? The Growing Burden of Servicing Foreign-Owned USDebt

CONFERENCE

• Government Spending on the Elderly

NEW POLICY NOTES

• Twin Deficits and Sustainability
• Debt and Lending: A Cri de Coeur

• Can Basel II Enhance Financial Stability? A Pessimistic View

• Tinbergen Rules the Taylor Rule
• A Random Walk Down Maple Lane? A Critique of Neoclassical Consumption Theory with Reference to Housing Wealth
• Feminist-Kaleckian Macroeconomic Policy for Developing Countries
• Household Wealth and the Measurement of Economic Well-Being in the United States
• Gibson’s Paradox II
• The Temporal Welfare State: A Cross-national Comparison

• Symposium
• New Positions for Levy Institute Scholars
• New Research Associates
• Recent Levy Institute Publications