Summary Winter 2017

This issue of the Summary opens with a strategic analysis for Greece. Using alternative policy scenarios, the authors demonstrate that cleaning up the government’s arrears accounts and boosting public investment would improve GDP growth, but that growth and employment would best be promoted through the implementation of a direct job creation program underwritten by an innovative financing mechanism.

Also in this issue: a policy note examines US Current Population Survey data for 2001–13 to identify the impact of state-level immigration rates on the native-born unemployed; a related paper provides a more in-depth look at the data and methodology used in the study. Other papers evaluate the impact of rule-based fiscal controls on public investment at the state level in India; the impact of incorporating gender criteria into the fiscal devolution formula proposed by India’s 14th Finance Commission; alternatives for increasing the effectiveness of banking supervision, including the use of a global cap rule to break up large banks; and the effects of employment gains on household production in Ghana and Tanzania using the Levy Institute Measure of Time and Consumption Poverty.

INSTITUTE RESEARCH

Program: The State of the US and World Economies

Strategic Analysis

• DIMITRI B. PAPADIMITRIOU, MICHALIS NIKIFOROS, and GENNARO ZEZZA, Greece: Getting Out of the Recession

• PINAKI CHAKRABORTY, Federalism, Fiscal Space, and Public Investment Spending: Do Fiscal Rules Impose Hard Budget Restraints?

Program: Monetary Policy and Financial Structure

• GIUSEPPE MASTROMATTEO and LORENZO ESPOSITO, Minsky at Basel: A Global Cap to Build an Effective Postcrisis Banking Supervision Framework

Program: Distribution of Income and Wealth

• FERNANDO RIOS-AVILA, Quality of Match for Statistical Matches Used in the Development of the Levy Institute Measure of Time and Consumption Poverty (LIMTCP) for Ghana and Tanzania
• THOMAS MASTERSON, KIJONG KIM, and FERNANDO RIOS-AVILA, Simulations of Employment for Individuals in LIMTCP Consumption-poor Households in Tanzania and Ghana, 2012

Program: Immigration, Ethnicity, and Social Structure

• FERNANDO RIOS-AVILA and GUSTAVO CANAVIRE-BACARREZA, The Impact of Immigration on the Native-born Unemployed
• FERNANDO RIOS-AVILA and GUSTAVO CANAVIRE-BACARREZA, Unemployed, Now What? The Effect of Immigration on Unemployed Transitions of Native-born Workers in the United States

Program: Economic Policy for the 21st Century

• ABHISHEK ANAND and LEKHA S. CHAKRABORTY, Engendering Intergovernmental Transfers: Is There a Case for Gender-sensitive Horizontal Fiscal Equalization?

INSTITUTE NEWS

Upcoming Events

• 26th Annual Hyman P. Minsky Conference
• The Hyman P. Minsky Summer Seminar

Call for Papers

• Gender and Macroeconomics Workshop