Summary Vol. 12, No. 4 | January 2003

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

W. Ray Towle

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