Summary Fall 2004

In this issue: an overview of the 14th Annual Hyman P. Minsky Conference on Financial Structure. A common observation among participants was the atypical business cycle pattern associated with the 2001 recession: strong GDP growth and very little job growth.

Contents:

Institute Research – Levy Institute Measure of Economic Well-Being – Levy Institute Measure of Economic Well-Being: United States, 1989, 1995, 2000, and 2001; Strategic Analysis – Is Deficit-Financed Growth Limited? Policies and Prospects in an Election Year; Program: Distribution of Income and Wealth – The "War on Poverty" after 40 Years: A Minskyan Assessment · Changes in Household Wealth in the 1980s and 1990s in the United States; Program: Financial Markets and Monetary Policy – Conference: The 14th Annual Hyman P. Minsky Conference on Financial Structure, "Can the Recovery Be Sustained? US and International Perspectives" · Investigating the Intellectual Origins of Euroland’s Macroeconomic Policy Regime: Central Banking Institutions and Traditions in West Germany after the War; Program: Federal Budget Policy – Inflation Targeting and the Natural Rate of Unemployment · Those "D" Words: Deficits, Debt, Deflation, and Depreciation; Explorations in Theory and Empirical Analysis – Some Simple, Consistent Models of the Monetary Circuit · Keynesian Theorizing during Hard Times: Stock-Flow Consistent Models as an Unexplored "Frontier" of Keynesian Macroeconomics; Institute News – New Board Members: Lakshman Achuthan; J. Ezra Merkin · New Levy Institute Book · Upcoming Event: Conference, The Distributional Effects of Government Spending and Taxation, October 15–16; Publications and Presentations – Publications and Presentations by Levy Institute Scholars · Recent Levy Institute Publications