Publications

1703 publications found

• Policy Note No. 1
  January 01, 2005

  The Case for an Environmentally Sustainable Jobs Program

  Mathew Forstater
  Abstract

  The job numbers in the United States and around the globe continue to look bleak. Not only are the absolute numbers dismal, but also job growth has dragged on with…more

• Public Policy Brief No. 80
  December 21, 2004

  The Fed and the New Monetary Consensus

  L. Randall Wray
  Abstract

  The most charitable interpretation of the Federal Reserve’s recent interest rate hikes is that they appear to have been premature. A convincing array of data on payrolls, employment-to-population ratios, and…more

  Download Public Policy Brief No. 80, 2004 PDF (268.63 KB)
• Research Project Report
  December 01, 2004

  How Much Does Public Consumption Matter for Well-Being?

  Asena Caner, Edward N. Wolff, and Ajit Zacharias
  Abstract

  This report supplements previous findings of the Levy Institute Measure of Economic Well-Being (LIMEW) research project within our program on the distribution of income and wealth. Some readers have questioned…more

  Download LIMEW Report, December 2004 PDF (417.17 KB)
• Working Paper No. 415
  November 19, 2004

  Measuring Capacity Utilization in OECD Countries

  Jamee K. Moudud and Anwar M. Shaikh
  Abstract

  This paper derives measures of potential output and capacity utilization for a number of OECD countries, using a method based on the cointegration relation between output and the capital stock….more

  Download Working Paper No. 415 PDF (468.07 KB)
• Working Paper No. 414
  November 10, 2004

  Household Wealth Distribution in Italy in the 1990s

  Andrea Brandolini, Luigi Cannari, Giovanni D’Alessio, and Ivan Faiella
  Abstract

  This paper describes the composition and distribution of household wealth in Italy. First, the evolution of household portfolios over the last 40 years is described on the basis of newly…more

  Download Working Paper No. 414 PDF (513.03 KB)
• Working Paper No. 413
  October 05, 2004

  Visions and Scenarios

  Mathew Forstater
  Abstract

  Ecological economics is a transdisciplinary alternative to mainstream environmental economics. Attempts have been made to outline a methodology for ecological economics and it is probably fair to say that, at…more

  Download Working Paper No. 413 PDF (279.58 KB)
• Working Paper No. 412
  October 01, 2004

  The Transmission Mechanism of Monetary Policy

  Abstract

  Recently, many economists have credited the late-1990s economic boom in the United States for the easy money policies of the Federal Reserve. On the other hand, observers have noted that…more

  Download Working Paper No. 412 PDF (320.12 KB)
• Research Project Report
  September 22, 2004

  How Much Does Wealth Matter for Well-Being?

  Asena Caner, Edward N. Wolff, and Ajit Zacharias
  Abstract

  Economic well-being refers to the command or access by members of a household over the goods and services produced in a modern market economy during a given period of time.The…more

  Download LIMEW Report, September 2004 PDF (424.32 KB)
• Strategic Analysis
  August 01, 2004

  Prospects and Policies for the US Economy

  Wynne Godley, Alex Izurieta, and Gennaro Zezza
  Abstract

  The American economy has grown reasonably fast since the second half of 2003, and the general expectation seems to be that satisfactory growth will continue more or less indefinitely. This…more

  Download Strategic Analysis, August 2004 PDF (668.60 KB)
• Public Policy Brief No. 79
  August 01, 2004

  The Case for Rate Hikes

  L. Randall Wray
  Abstract

  For a time, the Federal Open Market Committee (FOMC) seemed to have learned from the mistakes of the past. Instead of taking good economic performance as a sign of incipient…more

  Download Public Policy Brief No. 79, 2004 PDF (426.03 KB)
• Book Series
  August 01, 2004

  Induced Investment and Business Cycles

  Hyman P. Minsky and Dimitri B. Papadimitriou
  Abstract

  This unique volume presents, for the first time in publication, the original doctoral thesis of Hyman P. Minsky, one of the most innovative thinkers on financial markets. Dimitri B. Papadimitriou’s…more

• Working Paper No. 411
  July 25, 2004

  Financial Liberalization and Poverty

  Philip Arestis and Asena Caner
  Abstract

  Financial development and its effects on the economic development of a country has recently been one of the most prolific areas of research in the fields of development, finance, and…more

  Download Working Paper No. 411 PDF (302.39 KB)
• Working Paper No. 410
  July 22, 2004

  Gibson’s Paradox, Monetary Policy, and the Emergence of Cycles

  Abstract

  Many empirical studies have found that interest rate increases have a positive effect on the price level. This paper pursues an obvious, but neglected explanation: interest payments are a cost…more

  Download Working Paper No. 410 PDF (673.21 KB)
• Working Paper No. 409
  July 01, 2004

  Assessing the ECB’s Performance since the Global Slowdown

  Jörg Bibow
  Abstract

  This paper assesses the ECB’s performance, which the author finds to be seriously lacking but which is of paramount importance to understanding euroland’s ongoing stagnation and fragility. A main finding…more

  Download Working Paper No. 409 PDF (671.34 KB)
• Public Policy Brief No. 78
  June 03, 2004

  The War on Poverty after 40 Years

  Stephanie A. Kelton and L. Randall Wray
  Abstract

  Twenty to 25 years ago, a debate was under way in academe and in the popular press over the War on Poverty. One group of scholars argued that the war,…more

  Download Public Policy Brief No. 78, 2004 PDF (345.93 KB)
• Public Policy Brief No. 77
  June 02, 2004

  The Sustainability of Economic Recovery in the United States

  Philip Arestis and Elias Karakitsos
  Abstract

  A rebound of consumption, investment, and consumer confidence in the second half of 2003 has raised hopes that the United States’ recovery from the 2001 recession is on a sustainable…more

  Download Public Policy Brief No. 77, 2004 PDF (547.07 KB)
• Book Series
  June 01, 2004

  What Has Happened to the Quality of Life in the Advanced Industrialized Nations?

  Edward N. Wolff
  Abstract

  Throughout the 1990s the United States expanded its lead over other advanced industrial nations in terms of conventionally measured per capita income. However, it is not clear that welfare levels…more

• Working Paper No. 408
  May 25, 2004

  Keynesian Theorizing during Hard Times

  Claudio H. Dos Santos
  Abstract

  This paper argues that the Stock-Flow Consistent Approach to macroeconomic modeling can be seen as a natural outcome of the path taken by Keynesian macroeconomic thought in the 1960s and…more

• Working Paper No. 406
  May 01, 2004

  Investigating the Intellectual Origins of Euroland’s Macroeconomic Policy Regime

  Jörg Bibow
  Abstract

  This paper investigates the (re-)establishment of central banking in West Germany after 1945 and the history of the Bundesbank Act of 1957. The main focus is on the early emphasis…more

• Policy Note No. 2
  May 01, 2004

  Those “D” Words

  L. Randall Wray
  Abstract

  Recent economic commentary has been filled with “D” words: deficits, debt, deflation, depreciation. Deficits—budget and trade—are of the greatest concern and may be on an unsustainable course, as federal and…more

  Download Policy Note 2004/2 PDF (252.43 KB)
• Research Project Report
  May 01, 2004

  Levy Institute Measure of Economic Well-Being

  Asena Caner, Edward N. Wolff, and Ajit Zacharias
  Abstract

  This report presents the latest findings of the Levy Institute Measure of Economic Well-Being (LIMEW) research project within our program on the distribution of income and wealth. It enhances previous…more

  Download LIMEW Report, May 2004 PDF (450.31 KB)
• Working Paper No. 407
  May 01, 2004

  Changes in Household Wealth in the 1980s and 1990s in the US

  Edward N. Wolff
  Abstract

  I find that despite slow growth in income over the 1990s, there have been marked improvements in the wealth position of average families. Both mean and median wealth grew briskly…more

  Download Working Paper No. 407 PDF (446.39 KB)
• Book Series
  April 01, 2004

  After the Bell

  Karen M Albright and Dalton Conley
  Abstract

  Since the publication of the Coleman report in the United States many decades ago, it has been widely accepted that the evidence that schools are marginal in the grand scheme…more

• Public Policy Brief No. 76
  April 01, 2004

  Asset Poverty in the United States

  Asena Caner and Edward N. Wolff
  Abstract

  Economic growth and a rising stock market in the 1990s gave the impression that everyone was accumulating wealth and asset poverty rates were declining. The impression was supported by the…more

  Download Public Policy Brief No. 76, 2004 PDF (284.58 KB)