Summary Fall 2003

A new Policy Note summarized under the Financial Markets and Monetary Policy program outlines Germany’s poor economic record since unification. Author J�rg Bibow warns that the "German disease" (protracted policy-inflicted domestic demand stagnation) and the threat of a deflationary spiral are spreading throughout the Economic and Monetary Union (EMU).

Contents: Institute Research – Program: Distribution of Income and Wealth – Household Wealth, Public Consumption, and Economic Well-Being in the United States; Program: Financial Markets and Monetary Policy – Pushing Germany Off the Cliff Edge · Finance and Development: Institutional and Policy Alternatives to Financial Liberalization Theory · Is Europe Doomed to Stagnation? An Analysis of the Current Crisis and Recommendations for Reforming Macroeconomic Policymaking in Euroland · Financial Sector Reforms in Developing Countries, with Special Reference to Egypt · Macroeconomic Policies of the Economic and Monetary Union: Theoretical Underpinnings and Challenges; Program: Federal Budget Policy – The Conditions for a Sustainable US Recovery: The Role of Investment · How Long Can US Consumers Carry the Economy on Their Shoulders? · Reinventing Fiscal Policy · The Case for Fiscal Policy; Explorations in Theory and Empirical Analysis – Minsky’s Acceleration Channel and the Role of Money; Publications and Presentations – Publications and Presentations by Levy Scholars · Recent Levy Institute Publications