Publications
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1711 publications found
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Working Paper No. 296March 01, 2000
An Alternative Stability Pact for the European Union
AbstractThis paper proposes an alternative stability and growth pact among European Union (EU) governments that would underpin the introduction of a single currency and a “single market” within the EU….more
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Policy Note No. 3March 01, 2000
Welfare College Students
AbstractThe rules and regulations that were developed to reduce welfare rolls through immediate employment discourage the achievement of economic independence through the pursuit of higher education.
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Working Paper No. 299March 01, 2000
The Public Commodities Problem
AbstractThe decision about how much to spend on a public program depends on the answers to two questions: Should the government pursue the goal of this program? Given that the…more
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Working Paper No. 298March 01, 2000
Krugman on the Liquidity Trap
AbstractPaul Krugman has argued that Japan is in a liquidity trap and that it can recover only if the central bank there follows a policy of “credible inflation.” This paper…more
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Working Paper No. 297March 01, 2000
What’s Behind the Recent Rise in Profitability?
AbstractProfitability in the United States has been rising since the early 1980s and by 1997 was at its highest level since its postwar peak in the mid 1960s, and the…more
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Policy Note No. 2February 05, 2000
Is the New Economy Rewriting the Rules?
AbstractFull employment without inflation can continue—with the right leadership, prudent policy changes to manage the dangers, and cooperation from all branches of the government.
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Public Policy Brief No. 59February 03, 2000
Financing Long-Term Care
AbstractThe nation is not prepared to deal with the jump in expenditures for long-term care that will come with the aging of the baby-boom generation. Only a small part of…more
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Working Paper No. 295February 01, 2000
Is There a Skills Crisis?
AbstractMany economists and other social scientists and policy makers believe that the growth in inequality in the last two decades reflects mostly an imbalance between the demand for and the…more
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Working Paper No. 294February 01, 2000
The Brazilian Crisis
AbstractThis paper argues that the Brazilian crisis differs from the standard Minsky crisis in that it is Brazil’s government that is engaging in Ponzi financing while private sector balance sheets…more
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Strategic AnalysisJanuary 01, 2000
Interim Report
AbstractIf the United States’ balance of trade does not improve, the country could eventually find itself in a “debt trap,” the author says. The aim of this paper, the second…more
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Policy Note No. 1January 01, 2000
Explaining the US Trade Deficit
AbstractConventional theory makes the curious assumption that, in international trade, movements in the real exchange rate negate cost differences so as to make all countries equally competitive. But quite the…more
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Public Policy Brief No. 58December 10, 1999
A New Approach to Tax-Exempt Bonds
AbstractThe current system of tax-exempt bond financing is inefficient and inequitable because a large portion of the federal subsidy provided by the tax exemption does not reach state and local…more
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Public Policy Brief No. 57December 09, 1999
Do Institutions Affect the Wage Structure?
AbstractUnion strength is capable of boosting wages for workers at the low end of the income scale. Even when differences in education and industry type are accounted for, workers in…more
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Working Paper No. 293December 01, 1999
Employment Inequalities
AbstractThis paper documents the employment disadvantage faced by the less qualified part of the labor force and examines the factors that influence the differing extent of this disadvantage across OECD…more
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Working Paper No. 292December 01, 1999
Why Do Political Action Committees Give Money to Candidates?
AbstractThis paper examines political action committees’ motivations for giving campaign contributions to candidates for political office. First, the paper estimates the effect of campaign contributions received by candidates on the…more
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Working Paper No. 291December 01, 1999
The Social Wage, Welfare Policy, and the Phases of Capital Accumulation
AbstractThis paper addresses two broad questions. The first one relates to the economic rationale for the existence of the welfare state. To address this question, we review the marginalist arguments…more
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Working Paper No. 290December 01, 1999
Finance in a Classical and Harrodian Cyclical Growth Model
AbstractThis paper is an extension of an earlier working paper (“Finance and the Macroeconomic Process in a Classical Growth and Cycles Model,” Working Paper No. 253). The basic structure of…more
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Book SeriesDecember 01, 1999
Modernizing Financial Systems
AbstractSince the 1980s many changes have taken place in the financial system in the United States and to some extent in other countries—uniform capital requirements have been instituted, regulations have…more
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Public Policy Brief No. 56November 02, 1999
Risk Reduction in the New Financial Architecture
AbstractThe causes for the instability that has marked the financial system over the past decade lie deep in the economic theory that urges easy and efficient substitution of one piece…more
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Working Paper No. 289November 01, 1999
New Perspectives on the Guaranteed Income
AbstractRenewed interest in a guaranteed income is evident from the number of books that have been published on the topic in the 1990s. This paper compares seven of those books….more
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Working Paper No. 288November 01, 1999
Is There a Wage Payoff to Innovative Work Practices?
AbstractDuring the 1980s, wage inequality increased dramatically and the American economy lost many high wage, low- to medium-skill jobs, which had provided middle class incomes to less skilled workers. Increasingly,…more
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Working Paper No. 287November 01, 1999
Functional Finance
AbstractThe purpose of this paper is threefold. First, the theory of functional finance, as explicated by its originator, Abba Ptachya Lerner, is put forward; second, the reader is introduced to…more
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Working Paper No. 286November 01, 1999
The History of Wage Inequality in America, 1820 to 1970
AbstractIn recent decades the United States has experienced a pronounced widening of its wage structure. For the most part, analysis of the recent rise in wage inequality has taken place…more
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Working Paper No. 285October 01, 1999
Computers and the Wage Structure
AbstractA leading explanation for the rapid growth in wage inequality in the United States in the last 20 years, consistent with both human capital and postindustrial theories, is that advanced…more
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