Summary Winter 2005

A conference on the distributional effects of government spending and taxation was held at the Levy Institute’s conference center in fall 2004 and is summarized under The Distribution of Income and Wealth program. The presentations outlined how governments play a large role in affecting inequality, since countries spend at least a quarter of GDP on social welfare and most governments tax one group in order to transfer benefits to another.

Contents:

INSTITUTE RESEARCH

Levy Institute Measure of Economic Well-Being

• EDWARD N. WOLFF, AJIT ZACHARIAS, and ASENA CANER, How Much Does Wealth Matter for Well-Being? Alternative Measures of Income from Wealth

Strategic Analysis

• WYNNE GODLEY, ALEX IZURIETA, and GENNARO ZEZZA, Prospects and Policies
  for the US Economy:Why Net Exports Must Now Be the Motor for US Growth

Program: Distribution of Income and Wealth

• CONFERENCE: The Distributional Effects of Government Spending and Taxation

Program: Financial Markets and Monetary Policy

• J�RG BIBOW, Assessing the ECB’s Performance since the Global Slowdown: A Structural Policy Bias Coming Home to Roost?
• PHILIP ARESTIS and ASENA CANER, Financial Liberalization and Poverty:
  Channels of Influence

Explorations in Theory and Empirical Analysis

• GREG HANNSGEN, Gibson’s Paradox,Monetary Policy, and the Emergence of Cycles
• GREG HANNSGEN, The Transmission Mechanism of Monetary Policy: A Critical Review
• MATHEW FORSTATER, Visions and Scenarios: Heilbroner’s Worldly Philosophy, Lowe’s
  Political Economics, and the Methodology of Ecological Economics

INSTITUTE NEWS

• New Appointment: DIANE ELSON
• New Research Associate
• New Research Scholars
• NIHCM Foundation Award

CALL FOR PAPERS

• Conference: "Time Use and Economic Well-Being"

PUBLICATIONS AND PRESENTATIONS

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