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1711 publications found
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Working Paper No. 434January 13, 2006
Time to Eat
AbstractEating requires the raw food materials that make up meals and also the time devoted to buying food, preparing meals and eating them, and cleaning up afterwards. Using time-diary and…more
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Strategic AnalysisJanuary 01, 2006
Are Housing Prices, Household Debt, and Growth Sustainable?
AbstractRising home prices and low interest rates have fueled the recent surge in mortgage borrowing and enabled consumers to spend at high rates relative to their income. Low interest rates…more
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Working Paper No. 433December 04, 2005
All Types of Inequality Are Not Created Equal
AbstractEvidence of an increase in various forms of inequality since the 1970s has motivated research on its relationship to growth and development. The findings of that research are contradictory and…more
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Working Paper No. 432December 02, 2005
Job-Hopping in Silicon Valley
AbstractObservers of Silicon Valley’s computer cluster report that employees move rapidly between competing firms, but evidence supporting this claim is scarce. Job-hopping is important in computer clusters because it facilitates…more
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Book SeriesDecember 01, 2005
Italians Then, Mexicans Now
AbstractAccording to the American dream, hard work and a good education can lift people from poverty to success in the “land of opportunity.” The unskilled immigrants who came to the…more
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Working Paper No. 431November 23, 2005
Monetary Policy Strategies of the European Central Bank and the Federal Reserve Bank of the US
AbstractIn the debate on monetary policy strategies on both sides of the Atlantic, it is now almost a commonplace to contrast the Fed and the ECB by pointing out the…more
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Working Paper No. 430November 22, 2005
Are Long-run Price Stability and Short-run Output Stabilization All That Monetary Policy Can Aim For?
AbstractA central tenet of the so-called "new consensus" view in macroeconomics is that there is no long-run trade-off between inflation and unemployment. The main policy implication of this principle is…more
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Working Paper No. 429November 14, 2005
Bad for Euroland, Worse for Germany
AbstractThis paper assesses the contribution of the European Central Bank (ECB) to Germany’s ongoing economic crisis, a vicious circle of decline in which the country has become stuck since the…more
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Policy Note No. 6September 28, 2005
Social Security’s 70th Anniversary
AbstractSocial Security turned 70 on August 14, although no national celebration marked the occasion. Rather, our top policymakers in Washington continue to suggest that the system is “unsustainable.” While our…more
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Strategic AnalysisSeptember 06, 2005
The United States and Her Creditors
AbstractThe main arguments in this paper can be simply stated: 1) If output in the United States grows fast enough to keep unemployment constant between now and 2010, and if…more
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Working Paper No. 428August 25, 2005
Europe’s Quest for Monetary Stability
AbstractThis paper provides an overview of central banking arrangements in those European countries that have adopted the euro. Issues addressed include the structure of the “Eurosystem” and its central banking…more
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Working Paper No. 427August 12, 2005
Liquidity Preference Theory Revisited
AbstractThis paper revisits Keynes’s liquidity preference theory as it evolved from the Treatise on Money to The General Theory and after, with a view of assessing the theory’s ongoing relevance…more
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Public Policy Brief No. 82August 03, 2005
The Ownership Society
AbstractAs his new term begins, President George W. Bush has been trying to focus his domestic agenda on what he calls the “ownership society,” a sweeping vision of an America…more
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Working Paper No. 426July 20, 2005
Gender Inequality in a Globalizing World
AbstractEmphasis on market-friendly macroeconomic and development strategies in recent years has resulted in deleterious effects on growth and well-being, and has done little to promote greater gender equality. This paper…more
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Working Paper No. 425July 11, 2005
Refocusing the ECB on Output Stabilization and Growth through Inflation Targeting?
AbstractChallenging the conventional wisdom that structural problems are to blame for the euro area’s protracted domestic demand stagnation, this paper sets out to shed some fresh light on the role…more
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Public Policy Brief No. 81June 27, 2005
Breaking Out of the Deficit Trap
AbstractFor some time, Levy Institute scholars have been engaged with issues related to the current account, government, and private sector balances. We have argued that the existing imbalances in these…more
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Policy Note No. 5June 16, 2005
Some Unpleasant American Arithmetic
AbstractIs it sufficiently realized how intractable those account imbalances—and how dangerous their potential consequences at home and abroad—have now become?
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Working Paper No. 424June 15, 2005
Macroeconomics of Speculation
AbstractDespite his emphasis on the speculative character of investment decisions, Minsky paid little attention to asset price speculation per se, ignoring asset price bubbles and their macroeconomic effects. That is…more
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Working Paper No. 423May 06, 2005
Is More Mobility Good? Firm Mobility and the Low Wage–Low Productivity Trap
AbstractThis paper explores the possibility that unregulated FDI flows are causally implicated in the decline in labor productivity growth in semi-industrialized economies. These effects are hypothesized to operate through the…more
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Research Project ReportMay 01, 2005
Interim Report
AbstractThis interim report compares the LIMEW and official measures of economic well-being for 1989–2002, a period marked by the economic boom of the late 1990s and a mild recession in…more
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Policy Note No. 4April 29, 2005
Imbalances Looking for a Policy
AbstractThe latest batch of numbers from the United States makes for a disturbing read. The GDP growth rate of GDP has been adequate. However, the current account deficit was 6.3…more
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Working Paper No. 422April 29, 2005
The Disutility of International Debt
AbstractIn dealing with the problematic relationship of morality to rational choice theory, neoclassical economists since Lionel Robbins have often argued that they can incorporate moral values into consumer theory by…more
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Policy Note No. 3April 26, 2005
Is the Dollar at Risk?
AbstractA massive fiscal stimulus and, until recently, aggressive monetary easing have been successful in raising bond and real estate prices to unprecedented levels, inducing a credit boom that has prevented…more
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Working Paper No. 421April 07, 2005
A Simplified Stock-flow Consistent Post-Keynesian Growth Model
AbstractDespite being arguably the most rigorous form of structuralist/post-Keynesian macroeconomics, stock-flow consistent models are quite often complex and difficult to deal with. This paper presents a model that, despite retaining…more
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