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Working Paper No. 168June 09, 1996
Assimilation
AbstractAssimilation of today’s immigrants is one topic in the current debate on immigration. Some observers assert that recent immigrants are unable to assimilate into American society as easily as past…more
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Working Paper No. 167June 08, 1996
Money, Finance, and National Income Determination
AbstractTraditional economic models have largely failed to account adequately for the roles of money and finance in economic operations. For example, traditional models assume an exogenously determined, fixed money stock…more
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Working Paper No. 166June 01, 1996
The Minimum Wage and the Path towards a High Wage Economy
AbstractAccording to Resident Scholar Oren M. Levin-Waldman, the arguments both in favor of raising the minimum wage (to restore its real spending power to levels of previous years, to increase…more
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Working PaperJune 01, 1996
The Minimum Wage and the Path Toward a High Wage Economy
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Book SeriesMay 01, 1996
Money in Motion
AbstractIn its analysis of money, contemporary economics has focused on money’s function as a store of value, neglecting its role as a medium of circulation. When circulation is put center…more
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Working Paper No. 165May 01, 1996
Economic Insecurity and the Institutional Prerequisites for Successful Capitalism
AbstractIn this working paper, Distinguished Scholar Hyman P. Minsky and Visiting Scholar Charles Whalen search for reasons to account for the split in post-World War II economic performance—that is, the…more
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Working Paper No. 164May 01, 1996
The Consumer Price Index As a Measure of Inflation
AbstractA consensus is emerging among economists and policymakers that the consumer price index (CPI) as a measure of cost of living has an upward bias. As a result, downward revisions…more
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Working Paper No. 163May 01, 1996
Managing Foreign Capital Flows
AbstractBetween 1990 and 1994, developing countries in Asia posted $261 billion in net capital inflows, an amount equivalent to about half the total inflows to all developing countries. Although foreign…more
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Working Paper No. 162May 01, 1996
Capital Account Regulations and Macroeconomic Policy
AbstractA resurgence of perceived opportunities by international investors has resulted in a new policy debate regarding the regulation of capital flows into certain South American countries. The integrationist camp defends…more
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Working Paper No. 161May 01, 1996
Globalization, Capital Flows, and International Regulation
AbstractIn the postwar period prior to 1990 policy proposals aimed at reducing the instabilities associated with increased capital flows focused on increasing market efficiencies so that nominal variables would reflect…more
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Working Paper No. 160May 01, 1996
Intervention versus Regulation
AbstractThis new working paper investigates the roles the International Monetary Fund (IMF) might play given its mandate to provide institutional support for a global capital market that can promote trade…more
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Working Paper No. 159May 01, 1996
The Anatomy of the Bond Market Turbulence of 1994
AbstractThe bond market sell-off of 1994 has begun to show up on lists of market events against which risk management systems are judged, but there has been little analysis of…more
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Working Paper No. 158May 01, 1996
Capital Inflows and Macroeconomic Policy in Sub-Saharan Africa
AbstractLittle has been written about capital flows to sub-Saharan Africa (SSA), largely because of the flows’ small size and data limitations. In this working paper, Louis Kasekende, executive director for…more
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Working Paper No. 157May 01, 1996
A New Facility for the IMF?
AbstractIn this working paper, John Williamson, senior fellow at the Institute for International Economics, evaluates proposals to create a short-term financing facility within the International Monetary Fund (IMF). The emphasis…more
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Public Policy Brief No. 25April 05, 1996
Capital Gains Taxes and Economic Growth
AbstractThis brief assesses the effect of a capital gains tax cut on firms’ decisions to undertake new investment projects and the possible effect of such projects on economic growth and…more
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Working Paper No. 156April 01, 1996
Understanding the 1994 Election
AbstractThe change in the composition of Congress resulting from the 1994 election was viewed by some Republicans as a “triumph of conservatism over the perceived abuses of liberalism.” In this…more
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Working Paper No. 155April 01, 1996
Uncertainty and the Institutional Structure of Capitalist Economies
AbstractIn this new working paper, Distinguished Scholar Hyman P. Minsky points out that capitalism in the United States is an evolving construct that recently entered a new stage: “money manager”…more
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Public Policy Brief No. 24February 04, 1996
Revisiting Bretton Woods
AbstractRaymond F. Mikesell outlines the activities of the International Monetary Fund (IMF) and the World Bank over the course of their history and evaluates the organizations’ success in meeting their…more
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Working Paper No. 154January 01, 1996
Unemployment, Inflation, and the Job Structure
AbstractIn this working paper, James K. Galbraith rejects the analytical construct within which many economists currently operate—that is, the construct in which, in the extreme, macroeconomic behavior is identical to…more
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Book SeriesDecember 01, 1995
Income and Employment in Theory and Practice
AbstractThe essays in this volume were written by colleagues and friends of the late Athanasios (Tom) Asimakopulos. They relate to those areas to which he contributed so much in his…more
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Working Paper No. 153December 01, 1995
Technology and the Demand for Skills
AbstractIn this working paper Research Associate Edward N. Wolff documents changes during the period 1950–90 in aggregate skill levels of the workplace. Wolff investigates skill trends at the sectoral level,…more
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Working Paper No. 152December 01, 1995
Reforming Unemployment Insurance
AbstractIn this working paper Resident Research Associate Oren M. Levin-Waldman builds on earlier work (see Working Paper No. 140) to argue that the unemployment insurance (UI) system is in need…more
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Working Paper No. 151December 01, 1995
The Working Poor and Welfare Recipiency
AbstractMany participants in the current welfare debate assume that welfare recipients are taking unfair advantage of government programs by avoiding work. However, a growing body of research indicates that this…more
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Working Paper No. 150December 01, 1995
Proposals for Changing the Functions of the International Monetary Fund (IMF)
AbstractThe 50th anniversary of the signing of the Articles of Agreement of the International Monetary Fund (IMF) and the World Bank was celebrated at meetings in Washington, DC: at Bretton…more
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