Publications

5 publications found, searching for 'Tai Young-Taft '

• Working Paper No. 971
  September 28, 2020

  Ecology, Economics, and Network Dynamics

  Tai Young-Taft, Harold M. Hastings, and Chih-Jui Tsen
  Abstract

  In a seminal 1972 paper, Robert M. May asked: “Will a Large Complex System Be Stable?” and argued that stability (of a broad class of random linear systems) decreases with…more

  Download Working Paper No. 971 PDF (1.68 MB)
• Working Paper No. 929
  May 16, 2019

  When to Ease Off the Brakes (and Hopefully Prevent Recessions)

  Tai Young-Taft, Harold M. Hastings, and Thomas Wang
  Abstract

  Increases in the federal funds rate aimed at stabilizing the economy have inevitably been followed by recessions. Recently, peaks in the federal funds rate have occurred 6–16 months before the…more

  Download Working Paper No. 929 PDF (2.86 MB)
• Working Paper No. 897
  September 20, 2017

  Quantitative Easing and Asset Bubbles in a Stock-flow Consistent Framework

  Tai Young-Taft and Cameron Haas
  Abstract

  Ever since the Great Recession, central banks have supplemented their traditional policy tool of setting the short-term interest rate with massive buyouts of assets to extend lines of credit and…more

  Download Working Paper No. 897 PDF (385.26 KB)
• Working Paper No. 841
  July 24, 2015

  Marx’s Theory of Money and 21st-century Macrodynamics

  Tai Young-Taft
  Abstract

  Marx’s theory of money is critiqued relative to the advent of fiat and electronic currencies and the development of financial markets. Specific topics of concern include (1) today’s identity of…more

  Download Working Paper No. 841 PDF (437.17 KB)
• Working Paper No. 839
  June 01, 2015

  Inside Money in a Kaldor-Kalecki-Steindl Fiscal Policy Model

  Tai Young-Taft
  Abstract

  We hope to model financial fragility and money in a way that captures much of what is crucial in Hyman Minsky’s financial fragility hypothesis. This approach to modeling Minsky may…more

  Download Working Paper No. 839 PDF (909.30 KB)