Publications
Filter by
1711 publications found
-
Working Paper No. 451May 25, 2006
Time and Money
AbstractTime and money are basic commodities in the utility function and are substitutes in real terms. To a certain extent, having time and money is a matter of either/or, depending…more
Download Working Paper No. 451 PDF (349.81 KB) -
Working Paper No. 450May 24, 2006
Extending Minsky’s Classifications of Fragility to Government and the Open Economy
AbstractMinsky’s classification of fragility according to hedge, speculative, and Ponzi positions is well-known. He wrote about fragile positions of individual firms and of the economy as a whole, with the…more
Download Working Paper No. 450 PDF (180.42 KB) -
Working Paper No. 449May 23, 2006
The Temporal Welfare State: A Cross-national Comparison
AbstractWelfare states contribute to people’s well-being in many different ways. Bringing all these contributions under a common metric is tricky. Here we propose doing so through the notion of “temporal…more
Download Working Paper No. 449 PDF (143.85 KB) -
Working Paper No. 448May 22, 2006
Gibson’s Paradox II
AbstractThe Gibson paradox, long observed by economists and named by John Maynard Keynes (1936), is a positive relationship between the interest rate and the price level. This paper explains the…more
Download Working Paper No. 448 PDF (132.38 KB) -
Public Policy Brief No. 84May 20, 2006
Can Basel II Enhance Financial Stability?
AbstractEven as the United States enjoys an economic expansion, there is an undercurrent of concern among economic analysts who follow financial markets. Some feel that the expansion of the credit…more
Download Public Policy Brief No. 84, 2006 PDF (276.61 KB) -
Strategic AnalysisMay 18, 2006
Can the Growth in the US Current Account Deficit Be Sustained?
AbstractCan the growth in the current account deficit be sustained? How does the flow of deficits feed the stock of debt? How will the burden of servicing this debt affect…more
Download Strategic Analysis, May 2006 PDF (300.40 KB) -
Working Paper No. 447May 03, 2006
Household Wealth and the Measurement of Economic Well-Being in the United States
AbstractThe standard official measure of household economic well-being in the United States is gross money income. The general consensus is that such measures are limited because they ignore other crucial…more
Download Working Paper No. 447 PDF (310.49 KB) -
Working Paper No. 446May 01, 2006
Feminist-Kaleckian Macroeconomic Policy for Developing Countries
AbstractThis paper reviews evidence of the gender effects of globalization in developing economies. It then outlines a set of macroeconomic and trade policies to promote gender equity. The evidence suggests…more
Download Working Paper No. 446 PDF (207.18 KB) -
Policy Note No. 4April 30, 2006
Debt and Lending
AbstractMany papers published by the Levy Institute during the last few years have emphasized that the American economy has relied too much on the growth of lending to the private…more
Download Policy Note 2006/4 PDF (1.64 MB) -
Policy Note No. 3April 17, 2006
Twin Deficits and Sustainability
AbstractIn the mid-to-late 1980s, the American economy simultaneously produced—for the first time in the postwar period—huge federal budget deficits as well as large current account deficits, together known as the…more
Download Policy Note 2006/3 PDF (332.56 KB) -
Working Paper No. 445April 04, 2006
A Random Walk Down Maple Lane?
AbstractThe development of the permanent income/life cycle consumption hypothesis was a key blow to Keynesian and Kaleckian economics. According to George Akerlof, it "set the agenda" for modern neoclassical macroeconomics….more
Download Working Paper No. 445 PDF (171.84 KB) -
Working Paper No. 444March 06, 2006
Tinbergen Rules the Taylor Rule
AbstractThis paper elaborates a simple model of growth with a Taylor-like monetary policy rule that includes inflation targeting as a special case. When the inflation process originates in the product…more
Download Working Paper No. 444 PDF (428.56 KB) -
Policy Note No. 2February 20, 2006
The Fiscal Facts
AbstractToday’s federal budget deficits are a preoccupation of many American citizens and more than a few political leaders. Is the American government going bankrupt? Does our fiscal condition warrant radical…more
Download Policy Note 2006/2 PDF (412.30 KB) -
Working Paper No. 443February 20, 2006
Personality and Earnings
AbstractThis paper studies personality as a potential explanation for wage differentials between apparently similar workers. This follows initial studies by Jencks (1979) that suggest that certain personality traits, such as…more
Download Working Paper No. 443 PDF (170.67 KB) -
Working Paper No. 442February 19, 2006
Government Effects on the Distribution of Income
AbstractThis paper is the overview chapter of an edited volume on “The Distributional Effects of Government Spending and Taxation.” The paper offers the author’s perspective on the government’s role as…more
Download Working Paper No. 442 PDF (57.55 KB) -
Working Paper No. 441February 18, 2006
Prolegomena to Realistic Monetary Macroeconomics
AbstractThis paper sets out a rigorous basis for the integration of Keynes-Kaleckian macroeconomics (with constant or increasing returns to labor, multipliers, markup pricing, et cetera) with a model of the…more
Download Working Paper No. 441 PDF (171.26 KB) -
Working Paper No. 440February 17, 2006
Parental Child Care in Single Parent, Cohabiting, and Married Couple Families
AbstractThis study uses time diary data from the 2003 American Time Use Survey and the United Kingdom Time Use Survey 2000 to examine the time that single, cohabiting, and married…more
Download Working Paper No. 440 PDF (323.49 KB) -
Working Paper No. 439February 16, 2006
Where Do They Find the Time?
AbstractParents who undertake paid work are obliged to spend time away from their children, and to use nonparental childcare. This has given rise to concern that children are missing out…more
Download Working Paper No. 439 PDF (435.45 KB) -
Working Paper No. 438January 17, 2006
Keynes’s Approach to Money
AbstractThis paper first examines two approaches to money adopted by John Maynard Keynes in his General Theory (GT). The first is the more familiar “supply and demand” equilibrium approach of…more
Download Working Paper No. 438 PDF (232.17 KB) -
Public Policy Brief No. 83January 17, 2006
Reforming Deposit Insurance
AbstractThe Federal Deposit Insurance Corporation (FDIC) currently insures bank deposit balances up to $100,000. According to some observers, statutory protection creates moral hazard problems for insurers because it allows banks…more
Download Public Policy Brief No. 83, 2006 PDF (662.20 KB) -
Policy Note No. 1January 17, 2006
Credit Derivatives and Financial Fragility
AbstractOn September 15, the Federal Reserve convened 14 large credit derivatives–dealer banks to an unusual meeting. The last such meeting occurred on September 16, 1998, in secret. At that time,…more
Download Policy Note 2006/1 PDF (258.49 KB) -
Working Paper No. 437January 16, 2006
Enhancing Livelihood Security through the National Employment Guarantee Act
AbstractThe National Rural Employment Guarantee Act of 2005 is a major development in the history of poverty reduction strategies and rural development policies in India. Though the successful passage of…more
Download Working Paper No. 437 PDF (333.63 KB) -
Working Paper No. 436January 15, 2006
Importing Equality or Exporting Jobs?
AbstractThis study investigates the impact of increased import competition on gender wage and employment differentials in American manufacturing over the period from 1976 to 1993. Increased import competition is expected…more
Download Working Paper No. 436 PDF (369.11 KB) -
Working Paper No. 435January 14, 2006
Speculation, Liquidity Preference, and Monetary Circulation
AbstractThe sharp exchanges that Keynes had with some of his critics on the loanable funds theory made it harder to appreciate the degree to which his thought was continuous with…more
Download Working Paper No. 435 PDF (624.51 KB)