Summary Vol. 15, No. 3 | September 2006

Summary Fall 2006

In a new Strategic Analysis summarized in this issue, President Dimitri B. Papadimitriou and Research Scholars Edward Chilcote and Gennaro Zezza observe that the economy continues to grow on an unbalanced path, and that there is an increase in the default risk for the private and financial sectors.





Program: The State of the US and World Economies, and Strategic Analysis

  • DIMITRI B. PAPADIMITRIOU, EDWARD CHILCOTE, and GENNARO ZEZZA, Can the Growth in the US Current Account Deficit Be Sustained? The Growing Burden of Servicing Foreign-Owned US Debt
  • WYNNE GODLEY and GENNARO ZEZZA, Debt and Lending: A Cri de Coeur

Program: Distribution of Income and Wealth, and the LIMEW

  • CONFERENCE: Government Spending on the Elderly
  • EDWARD N. WOLFF and AJIT ZACHARIAS, Household Wealth and the Measurement of Economic Well-Being in the United States
  • JAMES MAHMUD RICE, ROBERT E. GOODIN, and ANTTI PARPO, The Temporal Welfare State: A Cross-national Comparison
  • J. BONKE, M. DEDING, and M. LAUSTEN, Time and Money: Substitutes in Real Terms and Complements in Satisfactions
  • HARLEY FRAZIS and JAY STEWART, How Does Household Production Affect Earnings Inequality? Evidence from the American Time Use Survey

Program: Gender Equality and the Economy

  • SYMPOSIUM: Gender Equality, Tax Policies, and Tax Reform in Comparative Perspective
  • STEPHANIE SEGUINO and CAREN A. GROWN, Feminist-Kaleckian Macroeconomic Policy for Developing Countries

Program: Economic Policy for the 21st Century

Financial Markets and Monetary Policy

  • L. RANDALL WRAY, Can Basel II Enhance Financial Stability? A Pessimistic View
  • THOMAS I. PALLEY, The Fallacy of the Revised Bretton Woods Hypothesis: Why Today's International Financial System Is Unsustainable
  • ERIC TYMOIGNE, Asset Prices, Financial Fragility, and Central Banking
  • CLAUDIO SARDONI, Why Central Banks (and Money) "Rule the Roost"

Federal Budget Policy

  • L. RANDALL WRAY, Extending Minsky's Classifications of Fragility to Government and the Open Economy
  • L. RANDALL WRAY, Twin Deficits and Sustainability
  • L. RANDALL WRAY, The Burden of Aging: Much Ado About Nothing, or Little to Do About Something?

Explorations in Theory and Empirical Analysis

  • THOMAS R. MICHL, Tinbergen Rules the Taylor Rule
  • GREG HANNSGEN, A Random Walk Down Maple Lane? A Critique of Neoclassical Consumption Theory with Reference to Housing Wealth
  • GREG HANNSGEN, Gibson's Paradox II
  • ERIC TYMOIGNE, The Minskyan System, Part I: Properties of the Minskyan Analysis and How to Theorize and Model a Monetary Production Economy
  • ERIC TYMOIGNE, The Minskyan System, Part II: Dynamics of the Minskyan Analysis and the Financial Fragility Hypothesis
  • ERIC TYMOIGNE, The Minskyan System, Part III: System Dynamics Modeling of a Stock Flow-Consistent Minskyan Model


  • New Research Associates
  • New Levy Institute Book
  • Upcoming Event: Upcoming Event, Conference, Employment Guarantee Policies: Theory and Practice, October 13-14


  • Publications and Presentations by Levy Institute Scholars
  • Recent Levy Institute Publications
W. Ray Towle

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