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183 publications found, searching for 'Policy Note '
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Policy Note No. 2June 05, 2008
Securitization
Abstract“At the annual banking structure and competition conference of the Federal Reserve Bank of Chicago in May 1987, the buzzword heard in the corridors and used by many of the…more
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Policy Note No. 1May 27, 2008
The Collapse of Monetarism and the Irrelevance of the New Monetary Consensus
AbstractWhat in monetarism, and what in the "new monetary consensus," led to a correct or even remotely relevant anticipation of the extraordinary financial crisis that broke over the housing sector,…more
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Policy NoteMay 27, 2008
The Collapse of Monetarism and the Irrelevance of the New Monetary Consensus
AbstractWhat in monetarism, and what in the “new monetary consensus,” led to a correct or even remotely relevant anticipation of the extraordinary financial crisis that broke over the housing sector,…more
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Policy NoteMay 27, 2008
The Collapse of Monetarism and the Irrelevance of the New Monetary Consensus
Abstract“What in monetarism, and what in the ‘new monetary consensus,’ led to a correct or even remotely relevant anticipation of the extraordinary financial crisis that broke over the housing sector,…more
Download PDF (503.31 KB) -
Policy NoteMay 17, 2007
State, Difference, and Diversity
AbstractThe centrality of the state in promoting gender equality is generally acknowledged, but a perplexing and complex issue confronts us: should the state treat men and women in identical ways,…more
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Policy Note No. 1January 07, 2007
The April AMT Shock
AbstractAnyone who reads a newspaper knows that most Americans have accumulated excessive levels of debt, and realizes that as interest rates climb, it becomes more difficult to service financial liabilities….more
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Policy Note No. 5July 06, 2006
The Burden of Aging
AbstractDemographers and economists agree that we are aging—individually and collectively, nationally and globally. An aging population results from the twin demographic forces of fewer children per family and longer lives….more
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Policy Note No. 4April 30, 2006
Debt and Lending
AbstractMany papers published by the Levy Institute during the last few years have emphasized that the American economy has relied too much on the growth of lending to the private…more
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Policy Note No. 3April 17, 2006
Twin Deficits and Sustainability
AbstractIn the mid-to-late 1980s, the American economy simultaneously produced—for the first time in the postwar period—huge federal budget deficits as well as large current account deficits, together known as the…more
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Policy Note No. 2February 20, 2006
The Fiscal Facts
AbstractToday’s federal budget deficits are a preoccupation of many American citizens and more than a few political leaders. Is the American government going bankrupt? Does our fiscal condition warrant radical…more
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Policy Note No. 1January 17, 2006
Credit Derivatives and Financial Fragility
AbstractOn September 15, the Federal Reserve convened 14 large credit derivatives–dealer banks to an unusual meeting. The last such meeting occurred on September 16, 1998, in secret. At that time,…more
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Policy Note No. 6September 28, 2005
Social Security’s 70th Anniversary
AbstractSocial Security turned 70 on August 14, although no national celebration marked the occasion. Rather, our top policymakers in Washington continue to suggest that the system is “unsustainable.” While our…more
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Policy Note No. 5June 16, 2005
Some Unpleasant American Arithmetic
AbstractIs it sufficiently realized how intractable those account imbalances—and how dangerous their potential consequences at home and abroad—have now become?
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Policy Note No. 4April 29, 2005
Imbalances Looking for a Policy
AbstractThe latest batch of numbers from the United States makes for a disturbing read. The GDP growth rate of GDP has been adequate. However, the current account deficit was 6.3…more
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Policy Note No. 3April 26, 2005
Is the Dollar at Risk?
AbstractA massive fiscal stimulus and, until recently, aggressive monetary easing have been successful in raising bond and real estate prices to unprecedented levels, inducing a credit boom that has prevented…more
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Policy Note No. 2February 08, 2005
Manufacturing a Crisis
AbstractFor seven decades, the far right has never veered from its avowed mission to gut America’s most comprehensive, successful, and popular safety net: Social Security. While it had won a…more
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Policy Note No. 1January 01, 2005
The Case for an Environmentally Sustainable Jobs Program
AbstractThe job numbers in the United States and around the globe continue to look bleak. Not only are the absolute numbers dismal, but also job growth has dragged on with…more
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Policy Note No. 2May 01, 2004
Those “D” Words
AbstractRecent economic commentary has been filled with “D” words: deficits, debt, deflation, depreciation. Deficits—budget and trade—are of the greatest concern and may be on an unsustainable course, as federal and…more
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Policy Note No. 1April 01, 2004
Inflation Targeting and the Natural Rate of Unemployment
AbstractInflation targeting has become an increasingly popular strategy for setting monetary policy during the last decade. While no countries had formal inflation targets before 1990, currently 22 countries use inflation…more
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Policy Note No. 7December 01, 2003
The Future of the Dollar
AbstractThe big question is whether the dollar—the world’s reserve currency—can survive a steep fall in its value without the active support of the major central banks. Can the United States…more
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Policy Note No. 6September 03, 2003
Is International Growth the Way Out of US Current Account Deficits?
AbstractThe 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…more
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Policy Note No. 5September 02, 2003
Deflation Worries
AbstractFor the first time since the 1930s, many worry that the world’s economy faces the prospect of deflation—accompanied by massive job losses—on a global scale. In a rather hopeful sign,…more
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Policy Note No. 4August 20, 2003
Pushing Germany Off the Cliff Edge
AbstractGermany’s fiscal crisis cannot be attributed to unification per se; it arose as a consequence of ill-guided macroeconomic policies pursued in response to that event. Many structural problems that popped…more
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Policy Note No. 3June 01, 2003
Caring for a Large Geriatric Generation
AbstractThe time has more than come to begin planning seriously for the aging of the baby-boom generation. The need for planning goes beyond concerns about the solvency of Social Security…more
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