Report June 1996

Speaking at the Levy Institute’s sixth annual conference on the financial structure, summarized in this issue, Federal Reserve Governor Janet L. Yellen expresses concern that financial innovation has complicated regulating traditional measures of financial soundness.

Contents: Annual Conference on Employment * Sixth Annual Conference on the Financial Structure * Forums: Immigration and Ethnicity * The Levy Report Interview: J. Kenneth Blackwell Discusses Derivatives, Tax Reform and Affirmative Action * New Working Papers: Uncertainty and the Institutional Structure of Capitalist Economies * Economic Insecurity and the Institutional Prerequisites for Successful Capitalism * Lecture Series: Alan Krueger: The Legacy of Separate and Unequal Schooling * Robert Frank: Economic Policy for a Winner-Take-All Society * Richard J. Murnane: The New Basic Skills