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7 publications found, searching for 'Scott Fullwiler '
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Working Paper No. 1006
April 29, 2022
Why the Feldstein-Horioka “Puzzle” Remains Unsolved
AbstractThis paper argues that the 40-year-old Feldstein-Horioka “puzzle” (i.e., that in a regression of the domestic investment rate on the domestic saving rate, the estimated coefficient is significantly larger than what would be expected in a world characterized by high capital mobility) should have never been labeled as such. First, we show that the investment […]
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Research Project Report
April 17, 2018
Public Service Employment
AbstractDespite reports of a healthy US labor market, millions of Americans remain unemployed and underemployed, or have simply given up looking for work. It is a problem that plagues our economy in good times and in bad—there are never enough jobs available for all who want to work. L. Randall Wray, Flavia Dantas, Scott Fullwiler, […]
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Policy Notes No. 2
March 19, 2018
Guaranteed Jobs through a Public Service Employment Program
AbstractAmid a recent upsurge in support for a national job guarantee program, L. Randall Wray, Stephanie A. Kelton, Pavlina R. Tcherneva, Scott Fullwiler, and Flavia Dantas outline a new proposal for a federally funded program with decentralized administration. Their Public Service Employment (PSE) program would offer a job—paying a uniform living wage with a basic […]
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Research Project Report
February 06, 2018
The Macroeconomic Effects of Student Debt Cancellation
AbstractAmong the more ambitious policies that have been proposed to address the problem of escalating student loan debt are various forms of debt cancellation. In this report, Scott Fullwiler, Research Associate Stephanie Kelton, Catherine Ruetschlin, and Marshall Steinbaum examine the likely macroeconomic impacts of a one-time, federally funded cancellation of all outstanding student debt. The […]
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Public Policy Brief No. 117
April 05, 2011
It’s Time to Rein In the Fed
AbstractScott Fullwiler and Senior Scholar L. Randall Wray review the roles of the Federal Reserve and the Treasury in the context of quantitative easing, and find that the financial crisis has highlighted the limited oversight of Congress and the limited transparency of the Fed. And since a Fed promise is ultimately a Treasury promise that […]
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One-Pager No. 8
February 14, 2011
It’s Time to Rein In the Fed
AbstractThe economic crisis that has gripped the US economy since 2007 has highlighted Congress’s limited oversight of the Federal Reserve, and the limited transparency of the Fed’s actions. And since a Fed promise is ultimately a Treasury promise that carries the full faith and credit of the US government, the question is, Should the Fed […]
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Working Paper No. 645
December 14, 2010
Quantitative Easing and Proposals for Reform of Monetary Policy Operations
AbstractBeyond its original mission to “furnish an elastic currency” as lender of last resort and manager of the payments system, the Federal Reserve has always been responsible (along with the Treasury) for regulating and supervising member banks. After World War II, Congress directed the Fed to pursue a dual mandate, long interpreted to mean full […]
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