Summary Winter 1997–1998

Scholars take different approaches to the questions of the possibility and desirability of attaining full employment. Barry Bluestone and Stephen Rose explore the effects of labor market slack on the inflation-unemployment trade-off, Malcom Sawyer and Philip Arestis advocate a return to Keynesian policies to secure full employment, and Beth Almeida looks to corporate strategies to explain the loss of good jobs that threatens sustainable prosperity in the United States.

Contents: New Working Papers include: The Growth in Work Time and the Implications for Macro Policy * The Effects of Immigrants on African-American Earnings * Income Distribution, Macroeconomic Analysis, and Barriers to Full Employment * Is European Monetary Union Economically and Politically Sustainable? * Are Good Jobs Flying Away? US Aircraft Engine Manufacturing and Sustainable Prosperity * On Budget Deficits and Capital Expenditure * Seminar: The Mixing of Peoples: Intermarriage and the Making of Americans—History, Prospects, Policy * Symposium: The Second Generation Then and Now: Education and Early Job Market Experience * Selection from New Book: Using Figures to Guide Macroeconomic Policy * Institute News: Congressional Policy Briefings