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1699 publications found
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Public Policy Brief No. 57December 09, 1999
Do Institutions Affect the Wage Structure?
AbstractUnion strength is capable of boosting wages for workers at the low end of the income scale. Even when differences in education and industry type are accounted for, workers in…more
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Working Paper No. 293December 01, 1999
Employment Inequalities
AbstractThis paper documents the employment disadvantage faced by the less qualified part of the labor force and examines the factors that influence the differing extent of this disadvantage across OECD…more
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Working Paper No. 292December 01, 1999
Why Do Political Action Committees Give Money to Candidates?
AbstractThis paper examines political action committees’ motivations for giving campaign contributions to candidates for political office. First, the paper estimates the effect of campaign contributions received by candidates on the…more
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Working Paper No. 291December 01, 1999
The Social Wage, Welfare Policy, and the Phases of Capital Accumulation
AbstractThis paper addresses two broad questions. The first one relates to the economic rationale for the existence of the welfare state. To address this question, we review the marginalist arguments…more
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Book SeriesDecember 01, 1999
Modernizing Financial Systems
AbstractSince the 1980s many changes have taken place in the financial system in the United States and to some extent in other countries—uniform capital requirements have been instituted, regulations have…more
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Working Paper No. 290December 01, 1999
Finance in a Classical and Harrodian Cyclical Growth Model
AbstractThis paper is an extension of an earlier working paper (“Finance and the Macroeconomic Process in a Classical Growth and Cycles Model,” Working Paper No. 253). The basic structure of…more
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Public Policy Brief No. 56November 02, 1999
Risk Reduction in the New Financial Architecture
AbstractThe causes for the instability that has marked the financial system over the past decade lie deep in the economic theory that urges easy and efficient substitution of one piece…more
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Working Paper No. 289November 01, 1999
New Perspectives on the Guaranteed Income
AbstractRenewed interest in a guaranteed income is evident from the number of books that have been published on the topic in the 1990s. This paper compares seven of those books….more
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Working Paper No. 288November 01, 1999
Is There a Wage Payoff to Innovative Work Practices?
AbstractDuring the 1980s, wage inequality increased dramatically and the American economy lost many high wage, low- to medium-skill jobs, which had provided middle class incomes to less skilled workers. Increasingly,…more
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Working Paper No. 287November 01, 1999
Functional Finance
AbstractThe purpose of this paper is threefold. First, the theory of functional finance, as explicated by its originator, Abba Ptachya Lerner, is put forward; second, the reader is introduced to…more
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Working Paper No. 286November 01, 1999
The History of Wage Inequality in America, 1820 to 1970
AbstractIn recent decades the United States has experienced a pronounced widening of its wage structure. For the most part, analysis of the recent rise in wage inequality has taken place…more
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Working Paper No. 285October 01, 1999
Computers and the Wage Structure
AbstractA leading explanation for the rapid growth in wage inequality in the United States in the last 20 years, consistent with both human capital and postindustrial theories, is that advanced…more
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Working Paper No. 284October 01, 1999
The Distribution of Wages
AbstractThis paper presents a non-parametric procedure to analyze the effects of different factors on observed movements in any distribution. These effects are estimated by applying kernel density methods to weighted…more
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Policy Notes No. 10October 01, 1999
Social Security Privatization
AbstractWould privatization yield sufficient benefits to support low-income retirees and satisfy all others? Does a focus on private management of assets take attention away from the real issues in the…more
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Working Paper No. 283October 01, 1999
Financing Long-Term Care
AbstractThe nation is ill-prepared to finance the quantum jump in long-term care spending that is on its way as the baby boom ages. By default rather than by design, Medicaid…more
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Working Paper No. 282October 01, 1999
The Economic and Monetary Union
AbstractThe euro was adopted as legal tender, albeit in a virtual form, by 11 countries of the European Union on January 1, 1999. The intention was that notes and coins…more
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Policy Notes No. 9September 01, 1999
1999 Levy Institute Survey of Small Business
AbstractModest sales expectations and limited access to bank credit may be curtailing small businesses’ plans for hiring and capital investment.
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Working Paper No. 281September 01, 1999
Open Economy Macroeconomics Using Models of Closed Systems
AbstractThe following paper presents a series of two-country models, each of which makes up a whole world. The models are all based on a rigorous and watertight system of stock…more
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Working Paper No. 280September 01, 1999
The Rhetorical Evolution of the Minimum Wage
AbstractThe concept of the minimum wage has undergone several rhetorical permutations. Originally conceived as a living wage, which would function as a family wage, it ultimately became a matter of…more
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Working Paper No. 279September 01, 1999
Monetary Policy in an Era of Capital Market Inflation
AbstractThe theory of capital market inflation argues that the values of long-term securities markets are determined by a disequilibrium inflow of funds into those markets. The resulting overcapitalization of companies…more
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Policy Notes No. 8August 20, 1999
More Pain, No Gain
AbstractNeither the Breaux plan nor President Clinton’s proposal for “saving” Social Security promises much gain, but the Breaux plan, unlike the president’s proposal, would inflict real pain in the form…more
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Public Policy Brief No. 55August 02, 1999
Does Social Security Need Saving?
AbstractProjections of an impending crisis in financing Social Security depend on unduly pessimistic assumptions about basic demographic and economic variables. Moreover, even if the assumptions are accepted, the projected gap…more
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Working Paper No. 277August 01, 1999
Hyman Minsky’s Theory of Capitalist Development
AbstractDuring the last decade of his life, Hyman P. Minsky drew on insights acquired from Joseph Schumpeter in an effort to explore the long-term development of capitalism. He believed such…more
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Working Paper No. 276August 01, 1999
Lessons from the Asian Crisis
AbstractThis paper presents a central banker’s perspective on the Asian crisis. Central banks have two core missions: the pursuit of monetary policy to achieve broad macroeconomic objectives and the maintenance…more
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