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1711 publications found
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Public Policy Brief No. 109March 10, 2010
The Trouble with Pensions
AbstractPension funds have taken a big hit during the current financial crisis, with losses in the trillions of dollars. In addition, both private and public pensions are experiencing significant funding…more
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Strategic AnalysisMarch 10, 2010
Getting Out of the Recession?
AbstractResearch Scholar Gennaro Zezza updates the Levy Institute’s previous Strategic Analysis (December 2009) and finds that the 2009 increase in public sector aggregate demand was a result of the fiscal…more
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Working Paper No. 590March 10, 2010
Determining Gender Equity in Fiscal Federalism: Analytical Issues and Empirical Evidence from India
AbstractDespite the policy realm’s growing recognition of fiscal devolution in gender development, there have been relatively few attempts to translate gender commitments into fiscal commitments. This paper aims to engage…more
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Working Paper No. 589March 09, 2010
Recent Trends in Household Wealth in the United States: Rising Debt and the Middle-Class Squeeze—an Update to 2007
AbstractI find here that the early and mid-aughts (2001 to 2007) witnessed both exploding debt and a consequent “middle-class squeeze.” Median wealth grew briskly in the late 1990s. It grew…more
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Working Paper No. 588March 08, 2010
Decomposition of the Black-White Wage Differential in the Physician Market
AbstractThis paper proposes a difference-in-differences strategy to decompose the contributions of various types of discrimination to the black-white wage differential. The proposed estimation strategy is implemented using data from the…more
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Working Paper No. 587February 19, 2010
The Global Financial Crisis and the Shift to Shadow Banking
AbstractWhile most economists agree that the world is facing the worst economic crisis since the Great Depression, there is little agreement as to what caused it. Some have argued that…more
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Working Paper No. 586February 18, 2010
Is This the Minsky Moment for Reform of Financial Regulation?
AbstractThe current financial crisis has been characterized as a “Minsky” moment, and as such provides the conditions required for a reregulation of the financial system similar to that of the…more
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Working Paper No. 585February 12, 2010
Is Reregulation of the Financial System an Oxymoron?
AbstractThe extension of the subprime mortgage crisis to a global financial meltdown led to calls for fundamental reregulation of the United States financial system. However, that reregulation has been slow…more
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Working Paper No. 584February 03, 2010
The Global Crisis and the Future of the Dollar: Toward Bretton Woods III?
AbstractThis paper investigates the United States dollar’s role as the international currency of choice as a key contributing factor in critical global developments that led to the crisis of 2007–09,…more
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Public Policy Brief No. 108February 01, 2010
Why President Obama Should Care About “Care”: An Effective and Equitable Investment Strategy for Job Creation
AbstractIn his State of the Union address President Obama acknowledged that “our most urgent task is job creation”—that a move toward full employment will lay the foundation for long-term economic…more
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Public Policy Brief No. 107January 22, 2010
No Going Back: Why We Cannot Restore Glass-Steagall’s Segregation of Banking and Finance
AbstractThe purpose of the 1933 Banking Act—aka Glass-Steagall—was to prevent the exposure of commercial banks to the risks of investment banking and to ensure stability of the financial system. A…more
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Book SeriesJanuary 05, 2010
Unpaid Work and the Economy
AbstractThis volume offers both theoretical and policy-oriented examinations of the value of unpaid work, usually unacknowledged but increasingly recognized as an organic component of the economy. Particularly in developing countries,…more
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Policy Note No. 11December 22, 2009
Observations on the Problem of “Too Big to Fail/Save/Resolve”
AbstractPast experience suggests that multifunctional banking is the leading source of financial crisis, while large bank size contributes to contagion and systemic risk. This indicates that resolving large banks will…more
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Strategic AnalysisDecember 03, 2009
Sustaining Recovery: Medium-term Prospects and Policies for the US Economy
AbstractThough recent market activity and housing reports give some warrant for optimism, United States economic growth was only 2.8 percent in the third quarter, and the unemployment rate is still…more
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Public Policy Brief No. 106November 17, 2009
Can Euroland Survive?
AbstractSocial unrest across Europe is growing as Euroland’s economy collapses faster than the United States’, the result of falling exports and a weaker fiscal response. The controversial title of this…more
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Research Project ReportNovember 16, 2009
Has Progress Been Made in Alleviating Racial Economic Inequality?
AbstractReports of a postracial society may be premature. Studies continue to show wide racial gaps in income and, especially, wealth; although there is some evidence that income gaps have shrunk…more
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Working Paper No. 583November 08, 2009
The Euro and Its Guardian of Stability
AbstractThis paper investigates why Europe fared particularly poorly in the global economic crisis that began in August 2007. It questions the self-portrait of Europe as the victim of external shocks,…more
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Working Paper No. 582November 04, 2009
Minsky Moments, Russell Chickens, and Gray Swans
AbstractThe recent revival of Hyman P. Minsky’s ideas among policymakers, economists, bankers, financial institutions, and the mass media, synchronized with the increasing gravity of the subprime financial crisis, demands a…more
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Public Policy Brief No. 105October 28, 2009
It Isn’t Working: Time for More Radical Policies
AbstractThe Obama administration has implemented several policies to “jump-start” the American economy—efforts that have largely focused on preserving the financial interests of major banks. The authors of this new policy…more
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Policy Note No. 10October 15, 2009
Fiscal Stimulus, Job Creation, and the Economy
AbstractAs the nation watches the impact of the recent stimulus bill on job creation and economic growth, a group of academics continues to dispute the notion that the fiscal and…more
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Working Paper No. 581October 14, 2009
Lessons from the New Deal
AbstractSince the current recession began in December 2007, New Deal legislation and its effectiveness have been at the center of a lively debate in Washington. This paper emphasizes some key…more
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Working Paper No. 580October 13, 2009
An Alternative View of Finance, Saving, Deficits, and Liquidity
AbstractThis paper contrasts the orthodox approach with an alternative view on finance, saving, deficits, and liquidity. The conventional view on the cause of the current global financial crisis points first…more
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Working Paper No. 579October 12, 2009
A Perspective on Minsky Moments
AbstractThis paper aims to help bridge the gap between theory and fact regarding the so-called “Minsky moments” by revisiting the “financial instability hypothesis” (FIH). We limit the analysis to the…more
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Policy Note No. 9October 05, 2009
Banks Running Wild: The Subversion of Insurance by “Life Settlements” and Credit Default Swaps
AbstractOblivious to any lessons that might have been learned from the global financial mess it has created, Wall Street is looking for the next asset bubble. Perhaps in the market…more
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