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1700 publications found
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Working Paper No. 326March 01, 2001
Making EMU Work
AbstractThis paper investigates the lessons learned from Europe’s convergence process of the 1990s. The paper challenges the conventional focus on labour market institutions and “structural rigidities” as the root cause…more
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Policy Note No. 3March 01, 2001
Financing Health Care
AbstractThe problem is that the payers of health care—government and employers alike—are in open revolt against costs they never anticipated would become so high. Payers succeeded for a time in…more
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Working Paper No. 325March 01, 2001
Endogenous Money in a Coherent Stock-flow Framework
AbstractA method advocated by Wynne Godley to model monetary macroeconomics, is presented. The method, based on a transactions matrix, essentially makes sure that every flow goes somewhere and comes from…more
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Working Paper No. 324March 01, 2001
The Causes of Euro Instability
AbstractThis paper examines the causes of the general decline in the value of the euro. First, it assesses the various explanations proffered in existing literature, and then it offers a…more
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Working Paper No. 323March 01, 2001
Easy Money through the Back Door
AbstractThis paper assesses the performance of the European Central Bank (ECB) over the first two years of Europe’s new policy regime. The verdict is that the ECB was not actually…more
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Policy Note No. 2February 01, 2001
Fiscal Policy for the Coming Recession
AbstractGrowing government surpluses, a ballooning trade deficit, and the resulting growth in private sector debt have placed the United States’ economy in a precarious position. Papadimitriou and Wray agree with…more
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Book SeriesFebruary 01, 2001
Corporate Governance and Sustainable Prosperity
AbstractHow can we explain the persistent worsening of the income distribution in the United States in the 1980s and 1990s? What are the prospects for the reemergence of sustainable prosperity…more
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Working Paper No. 321January 01, 2001
Testing Profit Rate Equalization in the US Manufacturing Sector
AbstractLong-run differentials in interindustrial profitability are relevant for several areas of theoretical and applied economics because they characterize the overall nature of competition in a capitalist economy. This paper argues…more
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Working Paper No. 320January 01, 2001
“Race or People”
AbstractIn 1898, the United States Bureau of Immigration initiated a classification of immigrants into some 40 categories of "race or people." Nearly all the categories covered Europeans. In 1909 an…more
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Policy Note No. 1January 01, 2001
Fiscal Policy to the Rescue
AbstractThe United States’ economic expansion of the past eight years has been fueled by a rise in private sector indebtedness. In 1997 the private sector spending exceeded income for the…more
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Public Policy Brief No. 62December 10, 2000
Is There a Skills Crisis?
AbstractDespite seven years of economic growth a large gap exists in the wages earned by workers at the top of the earnings scale and those at the bottom. The leading…more
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Working Paper No. 319December 01, 2000
Compensatory Inter Vivos Gifts
AbstractEmpirical studies of intergenerational transfers usually find that bequests are equally divided among heirs while inter vivos gifts tend to be compensatory. Using the 1992 and 1994 waves of the…more
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Working Paper No. 318December 01, 2000
Origins of the GATT
AbstractFiftieth-anniversary explanations for the efficacy of the GATT imply that the institution’s longevity is testimony to the free trade principles upon which it is based. In this light, the predominantly…more
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Public Policy Brief No. 61November 09, 2000
Whither the Welfare State?
AbstractThe idea that saving is the force driving private investment and economic growth has become ever more entrenched in mainstream economic thought as well as in the minds of policymakers…more
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Working Paper No. 317November 01, 2000
Productivity in Manufacturing and the Length of the Working Day
AbstractData from the manuscript census of manufacturing are used to estimate the effects of the length of the working day on output and wages. We find that the elasticity of…more
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Working Paper No. 316November 01, 2000
Harrod versus Thirlwall
AbstractThis paper contrasts the different approaches to export-led growth used by Harrod and Thirlwall. It argues that, unlike Thirlwall’s model, Harrod emphasized the importance of both demand- and supply-sides in…more
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Working Paper No. 315October 01, 2000
Crowding In or Crowding Out?
AbstractThis paper investigates the effects of budget deficits within a classical-Harrodian framework in a closed economy. In this framework, growth and cycles are endogenous, underutilized capacity is a recurrent phenomenon,…more
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Working Paper No. 314September 01, 2000
Asset Ownership across Generations
AbstractThis paper examines cross-generational connections in asset ownership. It begins by presenting a theoretical framework that develops the distinction between the intergenerational transfer of knowledge about financial assets and the…more
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Working Paper No. 313September 01, 2000
CRA Grade Inflation
AbstractCommunity Reinvestment Act of 1977 (CRA) ratings and performance evaluations are the only bank and thrift exam findings disclosed by financial institution regulators. Inflation of CRA ratings has been alleged…more
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Working Paper No. 312August 01, 2000
Demographic Outcomes of Ethnic Intermarriage in American History
AbstractThis paper presents a new approach to measuring the extent of intermarriage among Americans of different ethnic origins. Using Census Bureau microdata and CPS data, measurements of the rates of…more
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Working Paper No. 311August 01, 2000
Racial Wealth Disparities
AbstractA vast literature in economics has examined the economic progress of African Americans during this century. Most of these studies have focused on income–or on even narrower measures of economic…more
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Working Paper No. 310August 01, 2000
Race and the Value of Owner-occupied Housing, 1940–1990
AbstractThe racial gap in the value of owner-occupied housing has narrowed substantially since 1940, but this narrowing has not been even over time or across space. The 1970s stand out…more
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Working Paper No. 309August 01, 2000
Profits
AbstractProfits are the incentive for production and therefore employment in almost all of the world’s economies; they also may represent exploitation of workers and consumers. Jerome Levy, using a complex…more
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Working Paper No. 308August 01, 2000
Discontinuities in the Distribution of Great Wealth
AbstractNational surveys of household economics and well-being in the United States usually focus on income. In those income surveys with supplemental wealth modules, the very rich are underrepresented if not…more
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