Publications

13 publications found, searching for 'Anwar M. Shaikh '

• Strategic Analysis March 01, 2005

  How Fragile Is the US Economy?

  Claudio H. Dos Santos, Dimitri B. Papadimitriou, Anwar M. Shaikh, and Gennaro Zezza
  Abstract

  As we projected in a previous Strategic Analysis, the United States’ economy experienced growth rates higher than 4 percent in 2004. The question we want to raise in this Strategic Analysis is whether these rates will persist or come back down. We believe that several signs point in the latter direction. In what follows, we […]

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• Working Paper No. 415 November 19, 2004

  Measuring Capacity Utilization in OECD Countries

  Jamee K. Moudud, and Anwar M. Shaikh
  Abstract

  This paper derives measures of potential output and capacity utilization for a number of OECD countries, using a method based on the cointegration relation between output and the capital stock. The intuitive idea is that economic capacity (potential output) is the aspect of output that co-varies with the capital stock over the long run. We […]

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• Strategic Analysis April 01, 2004

  Is Deficit-financed Growth Limited?

  Claudio H. Dos Santos, Dimitri B. Papadimitriou, Anwar M. Shaikh, and Gennaro Zezza
  Abstract

  Wynne Godley, our Levy Institute colleague, has warned since 1999 that the falling personal saving and rising borrowing trends that had powered the US economic expansion were not sustainable. He also warned that when these trends were reversed, as has happened in other countries, the expansion would come to a halt unless there were major […]

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• Strategic Analysis October 01, 2003

  Deficits, Debts, and Growth

  Claudio H. Dos Santos, Dimitri B. Papadimitriou, Anwar M. Shaikh, and Gennaro Zezza
  Abstract

  These are fast-moving times. Two years ago, the Congressional Budget Office (CBO, 2001) projected a federal budget surplus of $172 billion for fiscal year 2003. Within a year, the projected figure had changed to a deficit of $145 billion (CBO 2002). The actual figure, near the end of fiscal year 2003, turned out to be […]

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• Policy Notes No. 6 September 03, 2003

  Is International Growth the Way Out of US Current Account Deficits?

  Claudio H. Dos Santos, Anwar M. Shaikh, and Gennaro Zezza
  Abstract

  The current account deficit of the United States has been growing steadily as a share of GDP for more than a decade. It is now at an all-time high, over 5 percent of GDP. This steady deterioration has been greeted with an increasing amount of concern (U.S Trade Deficit Review Commission 2000; Brookings Papers 2001; […]

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• Working Paper No. 387 September 01, 2003

  Measures of the Real GDP of US Trading Partners

  Claudio H. Dos Santos, Anwar M. Shaikh, and Gennaro Zezza
  Abstract

  This paper provides the details of the construction of new quarterly measures of the real GDPs of the 36 trading partners that are taken into consideration by the Federal Reserve in its "broad exchange rate" indexes. These new measures have some important advantages. First, they allow the construction of various income aggregates and sub-aggregates, which […]

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• Strategic Analysis November 01, 2002

  Is Personal Debt Sustainable?

  Claudio H. Dos Santos, Dimitri B. Papadimitriou, Anwar M. Shaikh, and Gennaro Zezza
  Abstract

  The long economic expansion was fueled by an unprecedented rise in private expenditure relative to income, financed by a growing flow of net credit to the private. On the surface, it seemed that the growing burden of the household sector’s debt was counterbalanced by a spectacular rise in the relative value of its financial assets, […]

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• Policy Notes No. 1 January 01, 2000

  Explaining the US Trade Deficit

  Anwar M. Shaikh
  Abstract

  Conventional theory makes the curious assumption that, in international trade, movements in the real exchange rate negate cost differences so as to make all countries equally competitive. But quite the contrary, it is absolute cost advantages that determine competition between countries, just as they determine the relative price of two sets of goods within one […]

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• Working Paper No. 265 March 01, 1999

  Real Exchange Rates and the International Mobility of Capital

  Anwar M. Shaikh
  Abstract

  This paper demonstrates that the terms of trade are determined by the equalization of profit rates across international regulating capitals, for socially determined national real wages. This provides a classical/Marxian basis for the explanation of real exchange rates, based on the same principle of absolute cost advantage which rules national prices. Large international flows of […]

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• Working Paper No. 250 September 01, 1998

  Explaining Long-Term Exchange Rate Behavior in the United States and Japan

  Rania Antonopoulos, and Anwar M. Shaikh
  Abstract

  Conventional exchange rate models are based on the fundamental hypothesis that, in the long run, real exchange rates will move in such a way as to make countries equally competitive. Thus they assume that, in the long run, trade between countries will be roughly balanced. The difficulty in assessing expectations about the consequences of trade […]

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• Working Paper No. 236 May 01, 1998

  An Important Inconsistency at the Heart of the Standard Macroeconomic Model

  Wynne Godley, and Anwar M. Shaikh
  Abstract

  The standard neoclassical model is the foundation of most mainstream macroeconomics. Its basic structure dominates the analyis of macroeconomic phenomena, the teaching of the subject, and even the formation of economic policy. And, of course, the modern quantity theory of money and its attendant monetarist prescriptions are grounded in the model’s strict separation between real […]

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• Working Paper No. 146 September 01, 1995

  The Stock Market and the Corporate Sector

  Anwar M. Shaikh
  Abstract

  No further information available.

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• Working Paper No. 19 March 10, 1989

  A Dynamic Approach to the Theory of Effective Demand

  Anwar M. Shaikh
  Abstract

  This paper attempts to resituate the theory of effective demand within a dynamic nonequilibrium context. Existing theories of effective demand, which derive from the works of Keynes and Kalecki, are generally posed in static equilibrium terms. That is to say, they serve to define a given level of output which corresponds to the equilibrium point […]

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