Publications

In-progress research by Levy Institute scholars as well as outside contributors

1156 publications found, searching for 'Working Paper '

• Working Paper No. 100
  October 20, 1993

  Avoiding a Future of Unemployment and Low Wages

  Robert M. Hutchens
  Abstract

  No further information available.

  Download Working Paper No. 100 PDF (4.10 MB)
• Working Paper No. 99
  October 01, 1993

  Government Deficits, Liquidity Preference, and Schumpeterian Innovation

  L. Randall Wray
  Abstract

  Wray asserts that rigorous analyses of the role played by innovation in economic development must acknowledge the contribution of Joseph Schumpeter. However, the author suggests that the current stagnation confronting…more

  Download Working Paper No. 99 PDF (2.63 MB)
• Working Paper No. 98
  September 01, 1993

  Investment and US Fiscal Policy in the 1990s

  Steven M. Fazzari
  Abstract

  In this working paper, Steven Fazzari presents new empirical research that attempts to measure the relative strength of fiscal policy on investment through the cost of capital, firms’ financial circumstances,…more

  Download Working Paper No. 98 PDF (3.13 MB)
• Working Paper No. 97
  August 01, 1993

  Is Health Insurance Crippling the Labor Market?

  Lawrence Buron, Robert Haveman, and Owen O’Donnell
  Abstract

  While discussion about health care encompasses a wide array of issues—inadequate access, the growing share of national resources devoted to health care, the incidence of cost-shifting from the uninsured to…more

  Download Working Paper No. 97 PDF (1.68 MB)
• Working Paper No. 96
  June 10, 1993

  Mortgage Default among Rural, Low Income Borrowers

  George W. McCarthy, Roberto G. Quercia, and Michael A. Stegman
  Abstract

  In this working paper, Quercia, McCarthy, and Stegman use data obtained on 874 low income, rural borrowers participating in the Section 502 Home Ownership program administered by the Farmer’s Home…more

  Download Working Paper No. 96 PDF (2.04 MB)
• Working Paper No. 95
  May 10, 1993

  The Community Reinvestment Act, Lending Discrimination, and the Role of Community Development Banks

  Dimitri B. Papadimitriou, Ronnie J. Phillips, and L. Randall Wray
  Abstract

  The Community Development Banks (CDBs) should not be seen as a substitute for the Community Reinvestment Act (CRA) or for other programs designed to revitalize lower income areas. Rather, they…more

  Download Working Paper No. 95 PDF (2.00 MB)
• Working Paper No. 94
  May 09, 1993

  Productivity, Private and Public Capital, and Real Wage in the United States, 1948–1990

  Sharon J. Erenburg
  Abstract

  No further information available.

  Download Working Paper No. 94 PDF (1.09 MB)
• Working Paper No. 93
  May 08, 1993

  Finance and Stability

  Hyman P. Minsky
  Abstract

  Once again the United States economy is facing a crisis, resolution of which first requires the realization that there are many types of capitalism: Solutions implemented in the past, therefore,…more

  Download Working Paper No. 93 PDF (1.43 MB)
• Working Paper No. 92
  May 07, 1993

  The Current State of Banking Reform

  George G. Kaufman
  Abstract

  Banking reform has always been a part of the political agenda, although policy tends to focus on the specific concerns of the public at the time of crisis; as times…more

  Download Working Paper No. 92 PDF (2.58 MB)
• Working Paper No. 91
  May 01, 1993

  A Comparison of Proposals to Restructure the US Financial System

  R. Alton Gilbert
  Abstract

  This paper illustrates the potential for risk diversification through the common ownership of a hypothetical bank and nonbanking firm. The illustration has several implications for proposals for restructuring the financial…more

  Download Working Paper No. 91 PDF (2.64 MB)
• Working Paper No. 90
  April 10, 1993

  Narrow Banks

  Kenneth Spong
  Abstract

  Recent banking problems have prompted a variety of proposals for reforming deposit insurance and the banking system. Nearly all of these proposals, however, suffer from a common flaw—they would fail…more

  Download Working Paper No. 90 PDF (2.30 MB)
• Working Paper No. 89
  April 01, 1993

  Profits for Economists

  Thomas Karier
  Abstract

  There is no single best estimate of profits because different purposes require measures. For example, profits in national income should be different than profits in financial statements. But given these…more

  Download Working Paper No. 89 PDF (2.26 MB)
• Working Paper No. 88
  March 10, 1993

  Limits of Prudential Supervision

  Bernard Shull
  Abstract

  Bank supervision typically receives little if any attention when banks are operating without difficulty. But when banks fail in large numbers, or large banks fail, and the system itself is…more

  Download Working Paper No. 88 PDF (3.33 MB)
• Working Paper No. 87
  March 09, 1993

  The Psychology of Risk

  Paul B. Andreassen
  Abstract

  Risk is commonly defined in negative terms-the probability of suffering a loss or factors and actions involving uncertain dangers or hazards. On the other hand, the term risk as used…more

  Download Working Paper No. 87 PDF (1.08 MB)
• Working Paper No. 86
  March 08, 1993

  The Origins of Money and the Development of the Modern Financial System

  L. Randall Wray
  Abstract

  The origins of money and banking are explained in nearly every introduction money and banking course, but Wray proposes an alternative approach that emerges from a comparative analysis of economic…more

  Download Working Paper No. 86 PDF (3.65 MB)
• Working Paper No. 85
  February 10, 1993

  The Relationship between Public and Private Investment

  Sharon J. Erenburg
  Abstract

  The relationship between government spending and aggregates such as output, employment, and prices has been the subject of many theoretical and empirical studies. Recently, however, interest has shifted to government…more

  Download Working Paper No. 85 PDF (1.70 MB)
• Working Paper No. 84
  February 07, 1993

  Migration of Talent

  Milind Rao
  Abstract

  In this paper, Rao tackles the reasons behind the increasing number and share of foreign students enrolled in Ph.D. economics programs in the U.S. The conventional argument of comparative advantage…more

  Download Working Paper No. 84 PDF (942.92 KB)
• Working Paper No. 83
  December 01, 1992

  Community Development Banks

  Hyman P. Minsky, Dimitri B. Papadimitriou, Ronnie J. Phillips, and L. Randall Wray
  Abstract

  The Clinton/Gore proposal for the creation of a network of 100 community development banks (CDBs) to revitalize communities is bold, and will contribute to the success of the U.S. economy….more

• Working Paper No. 82
  December 01, 1992

  Job Quality and Labor Market Segmentation in the 1980s

  Maury Gittleman and David R. Howell
  Abstract

  The authors examine the effects of employment restructuring in the 1980s on white, black, and Hispanic men and women within a labor market segmentation framework. Cluster analysis is used to…more

• Working Paper No. 81
  September 10, 1992

  The Impact of Profitability, Financial Fragility, and Competitive Regime Shifts on Investment Demand

  James R. Crotty and Jonathan A. Goldstein
  Abstract

  Crotty and Goldstein have developed a hybrid post-Keynesian/ neo-Schumpeterian theory of investment demand. In this micro-founded theory of accumulation, the optimal investment decision depends on the level of expected profitability,…more

  Download Working Paper No. 81 PDF (620.48 KB)
• Working Paper No. 80
  September 09, 1992

  Growth and Structural Change in China-US Trade

  Hong Wang
  Abstract

  Since the resumption of China-U.S. trade in 1972, and in particular since the establishment of diplomatic relations in early 1979, trade between the two countries has increased dramatically. By 1990,…more

  Download Working Paper No. 80 PDF (327.08 KB)
• Working Paper No. 79
  September 04, 1992

  The Investment Decision of the Post Keynesian Firm

  James R. Crotty and Jonathan A. Goldstein
  Abstract

  In this paper, Crotty and Goldstein undertake the formulation of a model of enterprise investment decision that can provide a microeconomic foundation for the Keynes-Minsky macromodels developed by Delli Gatti…more

  Download Working Paper No. 79 PDF (844.00 KB)
• Working Paper No. 78
  August 10, 1992

  The Predication Semantics Model

  Bruce K. Britton, Deborah McCutchen, and Paul B. Andreassen
  Abstract

  This paper presents and tests the predication semantics model, a computational model of text comprehension. It goes beyond previous case grammar approaches to text comprehension in employing a propositional rather…more

  Download Working Paper No. 78 PDF (425.10 KB)
• Working Paper No. 77
  July 10, 1992

  Credit Markets and Narrow Banking

  Ronnie J. Phillips
  Abstract

  Maurice Allais’s view that the credit created by fractional reserve banking is equivalent to counterfeiting has led him to recommend the separation of the depository and lending functions of banks….more

  Download Working Paper No. 77 PDF (171.05 KB)