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Working Paper No. 176November 01, 1996
Exploring the Politics of the Minimum Wage
AbstractResident Scholar Oren M. Levin-Waldman argues that, although the minimum wage is a serious economic issue, enacting an increase in the minimum wage is a political one. He finds that…more
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Working Paper No. 173October 01, 1996
A Critique of Competing Plans for Radical Tax Restructuring
AbstractAt almost any time there exists a plan to alter the structure of taxation, and their number seems to increase during election years. Resident Scholar Neil Buchanan analyzes several recent…more
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Working Paper No. 172October 01, 1996
Selective Migration As a Basis for Upward Mobility?
AbstractThe upward mobility of Jews who migrated to the United States at the turn of the nineteenth century has been explained as a function of premigrational cultural characteristics (such as…more
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Public Policy Brief No. 27September 09, 1996
Targeting Inflation
AbstractThe targets for monetary policy adopted by the Fed in recent years have not proven to be closely correlated with inflation, leading some theorists and policymakers to advocate the use…more
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Book SeriesSeptember 01, 1996
Stability in the Financial System
AbstractThe S&L crisis of the 1990s led many analysts to review the events that culminated in the banking crisis of the 1930s and the subsequent passage of the Emergency Banking…more
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Working Paper No. 171July 21, 1996
Rethinking Health Care Policy—The Case for Retargeting Tax Subsidies
AbstractMore than 40 million Americans currently have no access to health care for reasons of income. Moreover, plans enacted or discussed at the state level to cover the uninsured face…more
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Public Policy Brief No. 26July 08, 1996
Making Unemployment Insurance Work
AbstractWhat is needed to solve the problem of growing long-term unemployment is a two-tiered system that distinguishes between short-term and long-term unemployment. The system should continue to function as an…more
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Working Paper No. 170June 11, 1996
Which Deficit?
AbstractFor some time economists have acknowledged that reported budgetary data do not necessarily reflect actual economic activity. Agreement has not been reached, however, on how budget figures should be adjusted…more
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Working Paper No. 169June 10, 1996
Comparing Alternative Methods of Adjusting US Federal Fiscal Deficits for Cyclical and Price Effects
AbstractIn this working paper, Resident Scholar Neil H. Buchanan statistically tests six alternative definitions of the federal budget deficit to determine if these definitions improve the results of econometric studies…more
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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 PaperJune 01, 1996
The Minimum Wage and the Path Toward a High Wage Economy
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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 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. 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. 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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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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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. 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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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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