Report October 2008

Recent experience has bolstered the view that asset prices must come under the central bank’s purview in order for the economy to retain some semblance of stability. However, in a new Public Policy Brief, Pedro Nicolaci da Costa argues that attitude changes among regulators will be even more important than shifts in mandate in ensuring that regulators like the Federal Reserve do their jobs properly. In a related Policy Note, Senior Scholar L. Randall Wray examines the Fed’s unsuccessful efforts to curtail the widening financial crisis in the United States, and outlines an alternative framework for monetary policy formation.

NEW PUBLIC POLICY BRIEF

• Shaky Foundations: Policy Lessons from America’s Historic Housing Crash

NEW POLICY NOTE

• What’s a Central Bank to Do? Policy Response to the Current Crisis

NEW WORKING PAPERS

• Deficient Public Infrastructure and Private Costs: Evidence from a Time-use Survey for theWater Sector in India
• The Keynesian Roots of Stock-flow Consistent Macroeconomic Models: Peering Over the Edge of the Short Period
• The Buffett Plan for Reducing the Trade Deficit
• The Return of Fiscal Policy: Can the New Developments in the New Economic Consensus Be Reconciled with the Post Keynesian View?
• The Effects of International Trade on Gender Inequality:Women CarpetWeavers of Iran The Unpaid CareWork–PaidWork Connection
• Keynes’s Approach to Full Employment: Aggregate or Targeted Demand?

LEVY INSTITUTE NEWS

• New Research Scholar
• New Research Grants

PUBLICATIONS AND PRESENTATIONS

• Publications and Presentations by Levy Institute Scholars
• Recent Levy Institute Publications