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Working Paper No. 67December 10, 1991
Employment Restructuring and the Labor Market Status of Young Black Men in the 1980s
AbstractThe decline in the employment status of young black men relative to their white peers in the post-1970 U.S. Labor market is the impetus for this research. This paper examines…more
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Working Paper No. 66November 10, 1991
The Transition to a Market Economy
AbstractThe social transformation of Eastern Europe has proceeded much faster, and the destruction of communism’s legitimacy and efficacy has been more complete, than was deemed possible even a few years…more
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Working Paper No. 65November 08, 1991
A Package of Policies to Permanently Increase Output without Inflation
AbstractEconomists have searched for policies that concurrently establish full employment with stable prices and high output. The supply side theorists of the 1980s claimed they could produce increased output with…more
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Working Paper No. 64November 06, 1991
Market Processes and Thwarting Systems
AbstractThis paper suggests that there are two longstanding views on business cycles and economic dynamics: One emphasizes endogenous stability plus exogenous disturbances, while the other focuses on endogenous instability plus…more
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Working Paper No. 63September 10, 1991
Wealth Accumulation of the Elderly in Extended Families in Japan and the Distribution of Wealth within Japanese Cohorts by Household Composition
AbstractThis paper is a critique of the literature on transfer wealth accumulation in Japan during the postwar period. The emphasis is on selected works in two areas that are closely…more
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Working Paper No. 62July 10, 1991
The Changing Contributions of Men and Women to the Level and Distribution of Family Income, 1968–1988
AbstractIn the past twenty years, the labor force participation and earnings of women, especially married women, have risen dramatically. Over the same period, men’s earnings have increased only modestly, and…more
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Working Paper No. 61July 09, 1991
Changes in Earnings Differentials in the 1980s
AbstractThis paper analyzes changes in U.S. earnings differentials in the 1980s between race, gender, age, and schooling groups. There are four main sets of results to report. First, the economic…more
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Working Paper No. 60July 08, 1991
Who Are the Truly Poor?
AbstractIn this paper we study changes in the prevalence and composition of poverty in the United States over the 1973–1988 period, focusing on the first and last years. Over this…more
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Working Paper No. 59July 07, 1991
The Health, Earnings Capacity, and Poverty of Single-mother Families
AbstractApproximately 1.4 million single mothers have substantial health problems. Even if they were to work full time, they would be unlikely to earn enough to adequately provide for themselves and…more
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Working Paper No. 58July 06, 1991
Social Security Annuities and Transfers
AbstractThe division of social security (OASI) benefits into an annuity portion and a transfer portion has been well documented. I have discussed this issue extensively in previous work (1987b, 1988,…more
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Working Paper No. 57July 05, 1991
Why Were Poverty Rates So High in the 1980s?
AbstractThis paper explores the unexpectedly slow decline in poverty that occurred over the expansion of the 1980s. We present evidence on the "stickiness" in the poverty rate in the past…more
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Working Paper No. 56July 04, 1991
W(h)ither the Middle Class?
AbstractResearch using cross-sectional survey ‘snapshots’ of household income taken over the past quarter century reveals a growing inequality in the distribution of annual money income of households in the United…more
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Working Paper No. 55June 10, 1991
The Measurement of Chronic and Transitory Poverty; with Application to the United States
AbstractThis paper proposes a method of measuring chronic and transitory poverty based on any additively-decomposable index of aggregate poverty. Chronic poverty and transitory poverty in the United States are measured…more
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Working Paper No. 54June 09, 1991
Why the Ex-Communist Countries Should Take the “Middle Way” to the Market Economy
AbstractThe ex-communist countries of Europe as well as Soviet Union want to find a way out of the command economy to a market system. The common advice (e.g., Lipton and…more
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Working Paper No. 53May 10, 1991
A Critical Analysis of Empirical Studies of Transfers in Japan
AbstractNo further information available.
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Working Paper No. 52April 10, 1991
Debt, Price Flexibility, and Aggregate Stability
AbstractIn conventional macroeconomic thought, price flexibility stabilizes thc economy. The more quickly prices fall (or inflation decreases) in a demand-induced recession, the faster output returns to its full-employment level. An…more
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Working Paper No. 51April 09, 1991
Financial Crises
AbstractThe presentations at this conference are by economists from Academies and economists who professionally confront real world problems, either in private finance or in public policy. As economists we accept…more
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Working Paper No. 50April 08, 1991
How Useful Are Comparisons of Present Debt Problems with the 1930s?
AbstractMy assignment for this Conference on the Crisis ln Finance, as I understand is, is in the first instance to bring to bear the debt experience of the Great Depression…more
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Working Paper No. 49April 07, 1991
The Role of Banks Where Service Replication Has Eroded Institutional Franchises
AbstractOver the past decade forces of competition and adverse economic conditions—combined with regulatory forbearance and the moral hazards generated thereby—have contributed to severe erosion of bank profitability and a mounting…more
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Working Paper No. 48April 06, 1991
The Economic Significance of Equity Capital
AbstractI was motivated to address this subject by the rich irony of last year’s Nobel Prize in Economics. The end of the LBO era was crowned by the recognition of…more
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Working Paper No. 47April 05, 1991
Financial Disturbances and Depressions
AbstractEvents of the past quarter century have renewed the interest of economic historians in major financial disturbances. The study of financial crises was common before World War II, but for…more
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Working Paper No. 46April 04, 1991
Redistribution through Taxation
AbstractIncome tax progressivity is studied using Generalized Entropy measures of inequality. Luxembourg Income Study data sets for ten countries are used for international comparative purposes and analysis. Progressivity indices are…more
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Working Paper No. 45March 01, 1991
Female-headed Families
AbstractOver the last few decades in the United States, the poverty rate for female-headed families (with no husband present) has been about three times the poverty rate for male-headed families…more
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Working Paper No. 44February 01, 1991
Accounting for the Decline in Private Sector Unionization
AbstractDuring the 1980s several qualitative changes occurred in the union decline. First, net gains from certification (less decertification) elections fell to insignificant levels, tending to accelerate the union decline. On…more
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