Publications

1699 publications found

• Strategic Analysis
  March 19, 2013

  Is the Link between Output and Jobs Broken?

  Dimitri B. Papadimitriou and Michalis Nikiforos
  Abstract

  As this report goes to press, the official unemployment rate remains tragically elevated, compared even to rates at similar points in previous recoveries. The US economy seems once again to…more

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• Strategic Analysis
  March 19, 2013

  Ισχύει ακόμη η σύνδεση παραγωγής και δημιουργίας θέσεων εργασίας;

  Dimitri B. Papadimitriou and Michalis Nikiforos
  Abstract

  Καθώς ετοιμάζεται να δημοσιευθεί η παρούσα έκθεση, η ανεργία παραμένει σε εξαιρετικά υψηλά επίπεδα ακόμη και σε σχέση με ανάλογα χρονικά σημεία από προηγούμενες περιόδους οικονομικής ανάκαμψης. Η οικονομία των…more

  Download Στρατηγικη Αναλυση, Μάρτιος 2013 PDF (3.79 MB)
• Working Paper No. 759
  March 18, 2013

  Wages, Exchange Rates, and the Great Inflation Moderation

  Nathan Perry and Nathaniel Cline
  Abstract

  Several explanations of the “great inflation moderation” (1982–2006) have been put forth, the most popular being that inflation was tamed due to good monetary policy, good luck (exogenous shocks such…more

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• Working Paper No. 758
  March 14, 2013

  How the Fed Reanimated Wall Street

  Nicola Matthews
  Abstract

  Walter Bagehot’s putative principles of lending in liquidity crises—to lend freely to solvent banks with good collateral but at penalty rates—have served as a theoretical basis for thinking about the…more

  Download Working Paper No. 758 PDF (1.27 MB)
• Policy Notes No. 2
  March 12, 2013

  Toward a Post-Keynesian Political Economy for the 21st Century

  C. J. Polychroniou
  Abstract

  The global economy is in trouble. Indeed, the era of global neoliberalism, while still supreme, is fraught with serious problems and contradictions, as evidenced by both the recent global financial…more

  Download Policy Note 2013/2 PDF (207.71 KB)
• Working Paper No. 757
  March 11, 2013

  Expanding Social Protection in Developing Countries

  Rania Antonopoulos
  Abstract

  This paper discusses social protection initiatives in the context of developing countries and explores the opportunities they present for promoting a gender-equality agenda and women’s empowerment. The paper begins with…more

  Download Working Paper No. 757 PDF (272.01 KB)
• Working Paper No. 756
  February 14, 2013

  Long-Term Benefits from Temporary Migration

  Sanjaya DeSilva
  Abstract

  Utilizing a nationally representative sample of households from Sri Lanka, this study examines gender differences in the long-term impact of temporary labor migration. We use a propensity score matching (PSM)…more

  Download Working Paper No. 756 PDF (291.83 KB)
• Working Paper No. 755
  February 14, 2013

  The Economics of Inclusion

  Olivier Giovannoni and Michael A. Valenti
  Abstract

  This paper presents a review of the literature on the economics of shared societies. As defined by the Club de Madrid, shared societies are societies in which people hold an…more

  Download Working Paper No. 755 PDF (216.99 KB)
• Working Paper No. 754
  February 11, 2013

  Growth Trends and Cycles in the American Postwar Period, with Implications for Policy

  Olivier Giovannoni
  Abstract

  Do all types of demand have the same effect on output? To answer this question, I estimate a cointegrated vector autoregressive (VAR) model of consumption, investment, and government spending on…more

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• Working Paper No. 753
  February 07, 2013

  The Missing Macro Link

  Eugenio Caverzasi
  Abstract

  This paper addresses the critique of the aggregational problem attached to the financial instability hypothesis of Hyman Minsky. The core of this critique is based on the Kaleckian analytical framework…more

  Download Working Paper No. 753 PDF (528.56 KB)
• Working Paper No. 752
  February 07, 2013

  Inequality and Household Finance during the Consumer Age

  Steven M. Fazzari and Barry Z. Cynamon
  Abstract

  One might expect that rising US income inequality would reduce demand growth and create a drag on the economy because higher-income groups spend a smaller share of income. But during…more

  Download Working Paper No. 752 PDF (460.06 KB)
• Working Paper No. 752
  February 07, 2013

  Η ανισότητα και η χρηματοοικονομική συμπεριφορά των νοικοκυριών στην «εποχή των καταναλωτών»

  Steven M. Fazzari and Barry Z. Cynamon
  Abstract

  Θα μπορούσε να περιμένει κανείς ότι η διόγκωση της εισοδηματικής ανισότητας στις ΗΠΑ θα μείωνε την αύξηση της ζήτησης και θα δημιουργούσε τροχοπέδη στην οικονομική ανάπτυξη της χώρας λόγω του…more

  Download Επιστημονική εργασία υπό εξέλιξη (Working Paper) No. 752 PDF (848.96 KB)
• Working Paper No. 751
  February 04, 2013

  Arresting Financial Crises

  Thomas M. Humphrey
  Abstract

  Nineteenth-century British economists Henry Thornton and Walter Bagehot established the classical rules of behavior for a central bank, acting as lender of last resort, seeking to avert panics and crises:…more

  Download Working Paper No. 751 PDF (231.73 KB)
• Working Paper No. 750
  January 31, 2013

  Endogenous Bank Credit and Its Link to Housing in OECD Countries

  Philip Arestis and Ana Rosa González
  Abstract

  The relevant economic literature frequently focuses on the impact of credit shocks on housing prices. The doctrine of the “New Consensus Macroeconomics” completely ignores bank credit. The “Great Recession,” however,…more

  Download Working Paper No. 750 PDF (222.48 KB)
• Working Paper No. 749
  January 30, 2013

  Weak Expansions

  Daniel Titelman, Pablo Carvallo, and Esteban Pérez-Caldentey
  Abstract

  Using two standard cycle methodologies (classical and deviation cycle) and a comprehensive sample of 83 countries worldwide, including all developing regions, we show that the Latin American and Caribbean cycle…more

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• One-Pager No. 37
  January 30, 2013

  Διδάγματα από έναν μη συμβατικό κεντρικό τραπεζίτη

  Thorvald Grung Moe
  Abstract

  Η παγκόσμια χρηματοοικονομική κρίση έχει προκαλέσει ανανεωμένο ενδιαφέρον στη Συμφωνία Υπουργείου Οικονομικών-Ομοσπονδιακής Τράπεζας του 1951 και στα διδάγματα αυτής της διαπραγμάτευσης για την ανεξαρτησία της κεντρικής τράπεζας. Μια ευρύτερη ερμηνεία…more

  Download Μονοσέλιδο No. 37 PDF (226.38 KB)
• One-Pager No. 37
  January 30, 2013

  Lessons from an Unconventional Central Banker

  Thorvald Grung Moe
  Abstract

  The global financial crisis has generated renewed interest in the 1951 Treasury – Federal Reserve Accord and its lessons for central bank independence. A broader interpretation of the Accord and…more

  Download One-Pager No. 37 PDF (70.00 KB)
• Working Paper No. 748
  January 17, 2013

  Analyzing Public Expenditure Benefit Incidence in Health Care

  Lekha S. Chakraborty, Jannet Farida Jacob, and Yadawendra Singh
  Abstract

  The effectiveness of public spending remains a relatively elusive empirical issue. This preliminary analysis is an attempt, using benefit incidence methodology, to define the effectiveness of spending at the subnational…more

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• Working Paper No. 747
  January 17, 2013

  Marriner S. Eccles and the 1951 Treasury – Federal Reserve Accord

  Thorvald Grung Moe
  Abstract

  The 1951 Treasury – Federal Reserve Accord is an important milestone in central bank history. It led to a lasting separation between monetary policy and the Treasury’s debt-management powers, and…more

  Download Working Paper No. 747 PDF (410.86 KB)
• One-Pager No. 36
  January 11, 2013

  Expansion of Federal Reserve Authority in the Recent Financial Crisis Raises Questions about Governance

  Bernard Shull
  Abstract

  Several years before the onset of the recent financial crisis, ex – Federal Reserve Board Member Lawrence Meyer wrote that the Fed “is often called the most powerful institution in…more

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• One-Pager No. 36
  January 11, 2013

  Η επέκταση της εξουσίας του Ομοσπονδιακού Αποθεματικού στην πρόσφατη χρηματοοικονομική κρίση εγείρει ερωτήματα διακυβέρνησης

  Bernard Shull
  Abstract

  Αρκετά χρόνια πριν από το ξέσπασμα της πρόσφατης χρηματοοικονομικής κρίσης, ο Lawrence Meyer, πρώην διοικητικό μέλος του Ομοσπονδιακού Αποθεματικού, έγραψε ότι η Ομοσπονδιακή Τράπεζα «αναφέρεται συχνά ως ο ισχυρότερος θεσμός…more

  Download Μονοσέλιδο No. 36 PDF (245.29 KB)
• Working Paper No. 746
  January 09, 2013

  Finance-dominated Capitalism and Redistribution of Income

  Eckhard Hein
  Abstract

  This paper examines a major channel through which financialization or finance-dominated capitalism affects macroeconomic performance: the distribution channel. Empirical data for the following dimensions of redistribution in the period of…more

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• Working Paper No. 746
  January 09, 2013

  Ο χρηματιστικός καπιταλισμός και η αναδιανομή του εισοδήματος

  Eckhard Hein
  Abstract

  Το κείμενο εξετάζει έναν σημαντικό δίαυλο μέσω του οποίου η χρηματιστικοποίηση ή ο χρηματιστικός καπιταλισμός επηρεάζει τις μακροοικονομικές επιδόσεις: το κανάλι διανομής. Παρέχονται εμπειρικά στοιχεία για 15 ανεπτυγμένες οικονομίες, που…more

  Download Επιστημονική εργασία υπό εξέλιξη (Working Paper) No. 746 PDF (1.08 MB)
• Working Paper No. 745
  January 03, 2013

  Stock-flow Consistent Modeling through the Ages

  Antoine Godin and Eugenio Caverzasi
  Abstract

  The aim of the paper is to provide an overview of the current stock-flow consistent (SFC) literature. Indeed, we feel the SFC approach has recently led to a blossoming literature,…more

  Download Working Paper No. 745 PDF (1.36 MB)