Publications

1703 publications found

• Public Policy Brief No. 51
  March 01, 1999

  Small Business and Welfare Reform

  Oren Levin-Waldman
  Abstract

  The Levy Institute conducted a survey of small businesses to elicit information about their hiring and employment practices, especially the hiring of former welfare recipients; preferences regarding education, training, and…more

  Download Public Policy Brief No. 51, 1999 PDF (163.61 KB)
• Public Policy Brief No. 50
  February 01, 1999

  Public Employment and Economic Flexibility

  Mathew Forstater
  Abstract

  Central banks, national governments, and international organizations have resisted policies that would promote full employment because high employment and high capacity utilization are associated with structural rigidities that result in…more

  Download Public Policy Brief No. 50, 1999 PDF (110.85 KB)
• Working Paper No. 264
  February 01, 1999

  Further Evidence on the Distributional Effects of Disinflationary Monetary Policy

  Willem Thorbecke
  Abstract

  The performance of the United States’ economy between 1994 and 1998 was so good that some pundits began to call for the Federal Reserve to increase interest rates to depress…more

  Download Working Paper No. 264 PDF (454.79 KB)
• Working Paper No. 263
  February 01, 1999

  From Common Market to EMU

  Philip Arestis, Kevin McCauley, and Malcolm Sawyer
  Abstract

  This paper traces the history and the institutional background of European integration to the establishment of the economic and monetary union in the European Union (EU). After the establishment of…more

  Download Working Paper No. 263 PDF (88.16 KB)
• Policy Note No. 2
  February 01, 1999

  The Emperor Has No Clothes

  L. Randall Wray
  Abstract

  If you were to write yourself IOUs to provide for your retirement and put them in a safety deposit box, would you rest comfortably, assured that you would be able…more

  Download Policy Note 1999/2 PDF (53.97 KB)
• Policy Note No. 1
  January 01, 1999

  How Negative Can US Saving Get?

  Wynne Godley and Bill Martin
  Abstract

  In 1998 the volume of private spending in the United States rose by almost twice the increase in disposable income. The impact of this excess private spending financed by increased…more

  Download Policy Note 1999/1 PDF (58.40 KB)
• Strategic Analysis
  January 01, 1999

  Seven Unsustainable Processes

  Wynne Godley
  Abstract

  The purpose of this Strategic Analysis is not to make short-term predictions about the life expectancy of the current economic expansion in the United States, but to determine if the…more

  Download Strategic Analysis, January 1999 PDF (10.42 MB)
• Working Paper No. 262
  January 01, 1999

  The 1966 Financial Crisis

  L. Randall Wray
  Abstract

  The so-called credit crunch of 1966 has long been recognized as the first significant postwar financial crisis and one that required the first important intervention by the Federal Reserve Bank….more

  Download Working Paper No. 262 PDF (949.44 KB)
• Working Paper No. 261
  January 01, 1999

  Theories of Value and the Monetary Theory of Production

  L. Randall Wray
  Abstract

  This paper extends earlier work that argued that liquidity preference theory should be interpreted as a theory of value. Here I will argue that two theories of value are needed…more

  Download Working Paper No. 261 PDF (86.61 KB)
• Public Policy Brief No. 49
  December 10, 1998

  Corporate Governance in Germany

  Mary O’Sullivan
  Abstract

  The postwar system of corporate governance in Germany is being threatened by the failure of some industries to maintain their competitive position (with resulting significant job losses) and pressures for…more

  Download Public Policy Brief No. 49, 1998 PDF (200.81 KB)
• Public Policy Brief No. 48
  December 09, 1998

  Japanese Corporate Governance and Strategy

  William H. Lazonick
  Abstract

  Despite the crisis in the Japanese financial sector, prolonged recession, and competitive challenges, Japan’s formidable productive system remains strong. Nevertheless, the system of corporate governance, which has pursued a strategy…more

  Download Public Policy Brief No. 48, 1998 PDF (9.83 MB)
• Public Policy Brief No. 47
  December 09, 1998

  Regulating HMOs

  Walter M. Cadette
  Abstract

  HMO medicine sets up an inevitable conflict between the physicians’ traditional fiduciary role and the financial interests of the health plan and its physicians. Regulatory interventions, such as the formulation…more

  Download Public Policy Brief No. 47, 1998 PDF (177.36 KB)
• Working Paper No. 259
  December 01, 1998

  Constructing Long and Dense Time-Series of Inequality Using the Theil Index

  Pedro Conceição and James K. Galbraith
  Abstract

  Year-to-year economy-wide measures of income distribution, such as the Gini coefficient, are rarely available for long periods except in a few developed countries, and as a result few analyses of…more

  Download Working Paper No. 259 PDF (456.20 KB)
• Working Paper No. 258
  December 01, 1998

  (Full) Employment Policy

  Dimitri B. Papadimitriou
  Abstract

  In 1998, the United States’ unemployment rate was at its lowest level since the late 1960s. Yet the nation’s employment problem is still far from solved. Although many economists assume…more

  Download Working Paper No. 258 PDF (94.26 KB)
• Working Paper No. 260
  December 01, 1998

  Government Spending and Growth Cycles

  Jamee K. Moudud
  Abstract

  In this paper the impact of fiscal policy is analyzed within the context of an endogenous growth and cycles model. The investigation shows the different situations in which government expenditure…more

  Download Working Paper No. 260 PDF (2.19 MB)
• Public Policy Brief No. 46
  November 08, 1998

  Self-Reliance and Poverty

  Andrew Bershadker and Robert Haveman
  Abstract

  The United States’ official poverty measure defines the poor in terms of a family’s actual, yearly cash income relative to an estimate of the income needed to sustain a minimally…more

  Download Public Policy Brief No. 46, 1998 PDF (176.66 KB)
• Working Paper No. 257
  November 01, 1998

  Is Keynesianism Institutionalist?

  L. Randall Wray
  Abstract

  This paper poses that the one commonality between institutionalist thought and Keynesianism (as presented in his General Theory) was money. Tracing the origins and uses of money, the myth of…more

  Download Working Paper No. 257 PDF (60.09 KB)
• Working Paper No. 256
  November 01, 1998

  The Minimum Wage in Historical Perspective

  Oren Levin-Waldman
  Abstract

  During the Progressive period of American history the debate over the minimum wage was often between those who clung to traditional economic theory as a reason for not having a…more

  Download Working Paper No. 256 PDF (74.11 KB)
• Public Policy Brief No. 45
  October 07, 1998

  Did the Clinton Rising Tide Raise All Boats?

  Marc-André Pigeon and L. Randall Wray
  Abstract

  During the recent robust expansion only 700,000 of the almost 12 million jobs created went to the half of the population that does not have at least some college education….more

  Download Public Policy Brief No. 45, 1998 PDF (244.77 KB)
• Working Paper No. 255
  October 01, 1998

  Economic Time

  L. Randall Wray
  Abstract

  This paper argues that economists require a particular concept of time to develop theory with greater explanatory power in describing and analyzing the sort of economy in which we are…more

  Download Working Paper No. 255 PDF (55.71 KB)
• Working Paper No. 254
  October 01, 1998

  Toward a New Instrumental Macroeconomics

  Mathew Forstater
  Abstract

  This paper argues that the ideas of Abba Lerner and Adolph Lowe contain overlapping and complementary insights and themes that may contribute to the development of a new approach to…more

  Download Working Paper No. 254 PDF (52.07 KB)
• Working Paper No. 253
  October 01, 1998

  Finance and the Macroeconomic Process in a Classical Growth and Cycle Model

  Jamee K. Moudud
  Abstract

  The aim of this paper is to derive an endogenous growth and cycles model that integrates sectoral incomes, expenditures, and finance requirements into an ex ante social accounting matrix (SAM)…more

  Download Working Paper No. 253 PDF (303.26 KB)
• Public Policy Brief No. 44
  September 06, 1998

  The Asian Disease: Plausible Diagnoses, Possible Remedies

  Martin Mayer
  Abstract

  Asia presents a cumulation of apparently rational decisions that produced disastrous results—a textbook illustration of “financial instability” developing from the economics of euphoria. A combination of factors produced the crisis…more

  Download Public Policy Brief No. 44, 1998 PDF (156.72 KB)
• Public Policy Brief No. 43
  September 05, 1998

  How Big Should the Public Capital Stock Be?

  David Alan Aschauer
  Abstract

  Investment in infrastructure is necessary for a strong, flexible, and growing economy. However, the relationship between public capital and economic growth is not linear. At a certain level, the tax…more

  Download Public Policy Brief No. 43, 1998 PDF (216.39 KB)