Publications
Filter by
1711 publications found
-
Working Paper No. 270May 01, 1999
Can Social Security Be Saved?
AbstractThe first part of this paper is an overview of projections of Social Security’s future and an explanation of why the projections have led many to believe there is a…more
Download Working Paper No. 270 PDF (416.05 KB) -
Working Paper No. 269May 01, 1999
Demand Constraints and Economic Growth
AbstractIn recent years the United States has seemed to achieve the best of all possible worlds: robust economic growth, very low unemployment, and low inflation. Many attribute this performance to…more
Download Working Paper No. 269 PDF (465.86 KB) -
Policy Note No. 4April 01, 1999
Can Goldilocks Survive?
AbstractGrowing government budget surpluses combined with growing trade deficits have generated record private sector deficits. Unless households continue to reduce their saving—creating an increasingly unsustainable debt burden—the impetus that has…more
Download Policy Note 1999/4 PDF (69.00 KB) -
Working Paper No. 268April 01, 1999
Risk Reduction in the New Financial Architecture
AbstractFive times in a decade not yet completed, financial markets have floated to the edge of a whirlpool. In October 1998, they were about to drown when Alan Greenspan threw…more
Download Working Paper No. 268 PDF (109.96 KB) -
Working Paper No. 266March 01, 1999
Minsky’s Analysis, the European Single Currency, and the Global Financial System
AbstractThe paper begins with a brief review of the main ideas associated with Hyman Minsky and their implications for economic policy and the achievement of full employment. There is a…more
Download Working Paper No. 266 PDF (46.14 KB) -
Working Paper No. 265March 01, 1999
Real Exchange Rates and the International Mobility of Capital
AbstractThis paper demonstrates that the terms of trade are determined by the equalization of profit rates across international regulating capitals, for socially determined national real wages. This provides a classical/Marxian…more
Download Working Paper No. 265 PDF (1.69 MB) -
Public Policy Brief No. 51March 01, 1999
Small Business and Welfare Reform
AbstractThe Levy Institute conducted a survey of small businesses to elicit information about their hiring and employment practices, especially the hiring of former welfare recipients; preferences regarding education, training, and…more
Download Public Policy Brief No. 51, 1999 PDF (163.61 KB) -
Policy Note No. 3March 01, 1999
Surplus Mania
AbstractA federal government surplus has finally been achieved, and it has been met with pronouncements that it is a great gift for the future and with arguments about what to…more
Download Policy Note 1999/3 PDF (87.61 KB) -
Working Paper No. 267March 01, 1999
The Minimum Wage and Regional Wage Structure
AbstractWhen the minimum wage was first enacted in 1938, the fiercest opposition came from the South, where wages were considerably lower that in the industrial North. Today, that opposition is…more
Download Working Paper No. 267 PDF (60.61 KB) -
Working Paper No. 264February 01, 1999
Further Evidence on the Distributional Effects of Disinflationary Monetary Policy
AbstractThe performance of the United States’ economy between 1994 and 1998 was so good that some pundits began to call for the Federal Reserve to increase interest rates to depress…more
Download Working Paper No. 264 PDF (454.79 KB) -
Working Paper No. 263February 01, 1999
From Common Market to EMU
AbstractThis paper traces the history and the institutional background of European integration to the establishment of the economic and monetary union in the European Union (EU). After the establishment of…more
Download Working Paper No. 263 PDF (88.16 KB) -
Public Policy Brief No. 50February 01, 1999
Public Employment and Economic Flexibility
AbstractCentral banks, national governments, and international organizations have resisted policies that would promote full employment because high employment and high capacity utilization are associated with structural rigidities that result in…more
Download Public Policy Brief No. 50, 1999 PDF (110.85 KB) -
Policy Note No. 2February 01, 1999
The Emperor Has No Clothes
AbstractIf you were to write yourself IOUs to provide for your retirement and put them in a safety deposit box, would you rest comfortably, assured that you would be able…more
Download Policy Note 1999/2 PDF (53.97 KB) -
Working Paper No. 262January 01, 1999
The 1966 Financial Crisis
AbstractThe so-called credit crunch of 1966 has long been recognized as the first significant postwar financial crisis and one that required the first important intervention by the Federal Reserve Bank….more
Download Working Paper No. 262 PDF (949.44 KB) -
Working Paper No. 261January 01, 1999
Theories of Value and the Monetary Theory of Production
AbstractThis paper extends earlier work that argued that liquidity preference theory should be interpreted as a theory of value. Here I will argue that two theories of value are needed…more
Download Working Paper No. 261 PDF (86.61 KB) -
Strategic AnalysisJanuary 01, 1999
Seven Unsustainable Processes
AbstractThe purpose of this Strategic Analysis is not to make short-term predictions about the life expectancy of the current economic expansion in the United States, but to determine if the…more
Download Strategic Analysis, January 1999 PDF (10.42 MB) -
Policy Note No. 1January 01, 1999
How Negative Can US Saving Get?
AbstractIn 1998 the volume of private spending in the United States rose by almost twice the increase in disposable income. The impact of this excess private spending financed by increased…more
Download Policy Note 1999/1 PDF (58.40 KB) -
Public Policy Brief No. 49December 10, 1998
Corporate Governance in Germany
AbstractThe postwar system of corporate governance in Germany is being threatened by the failure of some industries to maintain their competitive position (with resulting significant job losses) and pressures for…more
Download Public Policy Brief No. 49, 1998 PDF (200.81 KB) -
Public Policy Brief No. 47December 09, 1998
Regulating HMOs
AbstractHMO medicine sets up an inevitable conflict between the physicians’ traditional fiduciary role and the financial interests of the health plan and its physicians. Regulatory interventions, such as the formulation…more
Download Public Policy Brief No. 47, 1998 PDF (177.36 KB) -
Public Policy Brief No. 48December 09, 1998
Japanese Corporate Governance and Strategy
AbstractDespite the crisis in the Japanese financial sector, prolonged recession, and competitive challenges, Japan’s formidable productive system remains strong. Nevertheless, the system of corporate governance, which has pursued a strategy…more
Download Public Policy Brief No. 48, 1998 PDF (9.83 MB) -
Working Paper No. 260December 01, 1998
Government Spending and Growth Cycles
AbstractIn this paper the impact of fiscal policy is analyzed within the context of an endogenous growth and cycles model. The investigation shows the different situations in which government expenditure…more
Download Working Paper No. 260 PDF (2.19 MB) -
Working Paper No. 259December 01, 1998
Constructing Long and Dense Time-Series of Inequality Using the Theil Index
AbstractYear-to-year economy-wide measures of income distribution, such as the Gini coefficient, are rarely available for long periods except in a few developed countries, and as a result few analyses of…more
Download Working Paper No. 259 PDF (456.20 KB) -
Working Paper No. 258December 01, 1998
(Full) Employment Policy
AbstractIn 1998, the United States’ unemployment rate was at its lowest level since the late 1960s. Yet the nation’s employment problem is still far from solved. Although many economists assume…more
Download Working Paper No. 258 PDF (94.26 KB) -
Public Policy Brief No. 46November 08, 1998
Self-Reliance and Poverty
AbstractThe United States’ official poverty measure defines the poor in terms of a family’s actual, yearly cash income relative to an estimate of the income needed to sustain a minimally…more
Download Public Policy Brief No. 46, 1998 PDF (176.66 KB)