Publications

1714 publications found

• Book Series
  November 21, 2002

  The New Race Question: How the Census Counts Multiracial Individuals

  Joel Perlmann and Mary C. Waters
  Abstract

  The change in the way the federal government asked for information about race in the 2000 Census marked an important turning point in the way Americans measure race. By allowing…more

• Public Policy Brief No. 70
  November 03, 2002

  Physician Incentives In Managed Care Organizations

  David J. Cooper and James B. Rebitzer
  Abstract

  This brief considers the interaction between physician incentive systems and product market competition in the delivery of medical services via managed care organizations. At the center of the analysis is…more

  Download Public Policy Brief No. 70, 2002 PDF (180.20 KB)
• Public Policy Brief No. 69
  November 02, 2002

  Should Banks Be “Narrowed”?

  Biagio Bossone
  Abstract

  In this brief, Biagio Bossone of the International Monetary Fund evaluates narrow banking from the perspective of modern theories of financial intermediation. These theories portray the status quo banking system…more

  Download Public Policy Brief No. 69, 2002 PDF (197.96 KB)
• Book Series
  November 01, 2002

  The Mind of Wall Street

  Leon Levy and Eugene Linden
  Abstract

  As stock prices and investor confidence have collapsed in the wake of Enron, WorldCom, and the dot-com crash, people want to know how this happened and how to make sense…more

• Working Paper No. 362
  November 01, 2002

  Financial Policies and the Aggregate Productivity of the Capital Stock

  Philip Arestis, Panicos Demetriades, and Bassam Fattouh
  Abstract

  We collect data on a number of financial restraints, including restrictions on interest rates and capital flows and reserve and liquidity requirements, and capital adequacy requirements from central banks of…more

  Download Working Paper No. 362 PDF (433.59 KB)
• Working Paper No. 361
  November 01, 2002

  Credibility of EMS Interest Rate Policies

  Philip Arestis and Kostas Mouratidis
  Abstract

  The primary objective of this paper is to use the Markov regime-switching modeling framework to study the credibility of monetary policy in five member countries of the European Monetary System…more

  Download Working Paper No. 361 PDF (412.13 KB)
• Strategic Analysis
  November 01, 2002

  Is Personal Debt Sustainable?

  Claudio H. Dos Santos, Dimitri B. Papadimitriou, Anwar M. Shaikh, and Gennaro Zezza
  Abstract

  The long economic expansion was fueled by an unprecedented rise in private expenditure relative to income, financed by a growing flow of net credit to the private. On the surface,…more

  Download Strategic Analysis, November 2002 PDF (1.50 MB)
• Working Paper No. 355
  October 01, 2002

  Can Monetary Policy Affect the Real Economy?

  Philip Arestis and Malcolm Sawyer
  Abstract

  Current monetary policy involves the manipulation of the central bank interest rate (the repo rate), with the specific objective of achieving the goal(s) of monetary policy. The latter is normally…more

  Download Working Paper No. 355 PDF (119.43 KB)
• Working Paper No. 354
  October 01, 2002

  Should Banks Be Narrowed?

  Biagio Bossone
  Abstract

  Over the past 70 years, a proposal to narrow the scope of banks has emerged more and more frequently in financial debates and research. Narrow banking would prevent deposit-issuing banks…more

  Download Working Paper No. 354 PDF (167.51 KB)
• Working Paper No. 360
  October 01, 2002

  Financial Globalization

  Philip Arestis and Santonu Basu
  Abstract

  In recent years free movement of financial capital following financial liberalization has given the impression that financial markets are truly globalized. In this paper we argue that free movement of…more

  Download Working Paper No. 360 PDF (35.75 KB)
• Working Paper No. 359
  October 01, 2002

  Is There a Trade-Off between Inflation Variability and Output-gap Variability in the EMU Countries?

  Kostas Mouratidis and Philip Arestis
  Abstract

  This paper examines two issues. First, we compare, based on the ratio of output-gap variability to inflation variability, the monetary policy performance of eleven EMU countries for the whole period…more

  Download Working Paper No. 359 PDF (201.52 KB)
• Working Paper No. 358
  October 01, 2002

  Threshold Effects in the US Budget Deficit

  Philip Arestis, Andrea Cipollini, and Bassam Fattouh
  Abstract

  This paper contributes to the debate on whether the United States’ large federal budget deficits are sustainable in the long run. The authors model the government deficit per capita as…more

  Download Working Paper No. 358 PDF (108.99 KB)
• Working Paper No. 357
  October 01, 2002

  The Euro, Public Expenditure, and Taxation

  Philip Arestis and Malcolm Sawyer
  Abstract

  This paper explores the probable consequences for public expenditure in the United Kingdom if Britain were to join the euro. It focuses on the effects of sterling joining the euro…more

  Download Working Paper No. 357 PDF (88.70 KB)
• Working Paper No. 356
  October 01, 2002

  Asset Poverty in the United States, 1984–1999

  Asena Caner and Edward N. Wolff
  Abstract

  Using PSID data for the years 1984 to 1999, we estimate the level and severity of asset poverty. Our results indicate that the share of asset-poor households remained almost the…more

  Download Working Paper No. 356 PDF (296.74 KB)
• Working Paper No. 353
  September 01, 2002

  Managed Care, Physician Incentives, and Norms of Medical Practice

  David J. Cooper and James B. Rebitzer
  Abstract

  The incentive contracts that managed care organizations write with physicians have generated considerable controversy. Critics fear that if informational asymmetries inhibit patients from directly assessing the quality of care provided…more

  Download Working Paper No. 353 PDF (411.82 KB)
• Working Paper No. 352
  September 01, 2002

  Critical Realism and the Political Economy of the Euro

  Philip Arestis, Andrew Brown, and Malcolm Sawyer
  Abstract

  This paper is concerned with two issues. First, it discusses some of the main problems and inferences the methodological approach of critical realism raises for empirical work in economics, while…more

  Download Working Paper No. 352 PDF (201.72 KB)
• Public Policy Brief No. 68
  August 01, 2002

  Optimal CRA Reform

  Kenneth H. Thomas
  Abstract

  At issue in the debate over the renewal of the Community Reinvestment Act (CRA) of 1977 are the various yardsticks regulators use to judge whether individual institutions are meeting the…more

  Download Public Policy Brief No. 68, 2002 PDF (316.17 KB)
• Working Paper No. 351
  August 01, 2002

  Race, Ethnicity, and the Gender-poverty Gap

  Yuval Elmelech and Hsien-Hen Lu
  Abstract

  We use data from the Current Population Survey (CPS 1994-2001) to document the relationship between gender-specific demographic variations and the gender-poverty gap among eight racial/ethnic groups. We find that black…more

  Download Working Paper No. 351 PDF (296.69 KB)
• Working Paper No. 350
  July 01, 2002

  Polish and Italian Schooling Then, Mexican Schooling Now?

  Joel Perlmann
  Abstract

  This paper relies on data from the census and the Current Population Survey (CPS) to compare levels of education attained by second-generation young people from important immigrant groups during the…more

  Download Working Paper No. 350 PDF (467.03 KB)
• Working Paper No. 349
  July 01, 2002

  State Policies and the Warranted Growth Rate

  Jamee K. Moudud
  Abstract

  This paper raises questions about austerity policies by investigating the effects of the state’s tax and expenditure policies on the warranted growth rate. It proposes two mechanisms to raise the…more

  Download Working Paper No. 349 PDF (206.82 KB)
• Working Paper No. 348
  June 01, 2002

  Asset Prices, Liquidity Preference, and the Business Cycle

  Korkut A. Ertürk
  Abstract

  In his Treatise on Money, John Maynard Keynes relied on two different premises to argue that the interest rate need not rise with rising levels of expenditure. One of these…more

  Download Working Paper No. 348 PDF (119.91 KB)
• Working Paper No. 347
  June 01, 2002

  What Has Happened to Monetarism?

  Jörg Bibow
  Abstract

  It is widely perceived that today’s conventional monetary wisdom, and the common practice of monetary policy based thereupon, is essentially “monetarist” by nature, if not by name. One objective of…more

  Download Working Paper No. 347 PDF (177.36 KB)
• Working Paper No. 346
  June 01, 2002

  CRA’s 25th Anniversary

  Kenneth H. Thomas
  Abstract

  This paper focuses on the past, present, and future rules and regulations implementing CRA as developed, applied, and enforced by the federal bank and thrift regulators. The past rules and…more

  Download Working Paper No. 346 PDF (609.95 KB)
• Working Paper No. 345
  May 01, 2002

  The “Third Way” and the Challenges to Economic and Monetary Union Macropolicies

  Philip Arestis and Malcolm Sawyer
  Abstract

  In the United Kingdom the emergence of a “New Labour” has been closely associated with the development of the notion of the “third way.” Tony Blair, for example, stated that…more

  Download Working Paper No. 345 PDF (81.93 KB)