Summary Spring 2006

The latest Strategic Analysis by the Institute’s Macro-Modeling Team suggests that much of the recent growth in GDP can be attributed to house price appreciation and private sector borrowing. However, rising house prices have not improved the equity position of households.

INSTITUTE RESEARCH

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

• DIMITRI B. PAPADIMITRIOU, EDWARD CHILCOTE, and GENNARO ZEZZA, Are Housing Prices, Household Debt, and Growth Sustainable?
• WYNNE GODLEY and MARC LAVOIE, Prolegomena to Realistic Monetary Macroeconomics: A Theory of Intelligible Sequences

Program: Distribution of Income and Wealth, and the LIMEW

• STEPHANIE SEGUINO, All Types of Inequality Are Not Created Equal: Divergent Impacts of Inequality on Economic Growth
• DANIEL S. HAMERMESH, Time to Eat: Household Production under Increasing Income Inequality
• INDIRA HIRWAY, Enhancing Livelihood Security through the National Employment Guarantee Act: Toward Effective Implementation of the Act
• LYN CRAIG,Where Do They Find the Time? An Analysis of How Parents Shift and Squeeze Their Time around Work and Child Care
• CHARLENE M. KALENKOSKI, DAVID C. RIBAR, and LESLIE S. STRATTON, Parental Child Care in Single Parent, Cohabiting, and Married Couple Families: Time Diary Evidence from the United States and the United Kingdom
• DIMITRI B. PAPADIMITRIOU, Government Effects on the Distribution of Income: An Overview

Program: Gender Equality and the Economy

• EBRU KONGAR, Importing Equality or Exporting Jobs? Competition and Gender Wage and Employment Differentials in USManufacturing

Program: Economic Policy for the 21st Century

• Financial Markets and Monetary Policy
• GIUSEPPE FONTANA and ALFONSO PALACIO-VERA, Are Long-run Price Stability and Short-run Output Stabilization All That Monetary Policy Can Aim For?
• C. SARDONI and L. RANDALL WRAY, Monetary Policy Strategies of the European Central Bank and the Federal Reserve Bank of the United States
• EDWARD CHILCOTE, Credit Derivatives and Financial Fragility
  Federal Budget Policy
• JAMES K. GALBRAITH, The Fiscal Facts: Public and Private Debts and the Future of the American Economy
  The Labor Market
• BRUCE FALLICK, CHARLES A. FLEISCHMAN, and JAMES B. REBITZER, Job-Hopping in Silicon Valley: Some Evidence Concerning the Micro-Foundations of a High Technology Cluster
  Explorations in Theory and Empirical Analysis
• KORKUT A. ERT�RK, Speculation, Liquidity Preference, and Monetary Circulation
• L. RANDALL WRAY, Keynes’s Approach to Money: An Assessment after 70 Years
• KAYE K. W. LEE, Personality and Earnings

INSTITUTE NEWS

Upcoming Events

• Conference: Government Spending on the Elderly, April 28–29
• Symposium: Gender Equality, Tax Policies, and Tax Reform in Comparative Perspective, May 17–18
• Russell Sage Foundation Grant

PUBLICATIONS AND PRESENTATIONS

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