Publications

1707 publications found

• Working Paper No. 314
  September 01, 2000

  Asset Ownership across Generations

  Ngina S. Chiteji and Frank P. Stafford
  Abstract

  This paper examines cross-generational connections in asset ownership. It begins by presenting a theoretical framework that develops the distinction between the intergenerational transfer of knowledge about financial assets and the…more

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• Working Paper No. 313
  September 01, 2000

  CRA Grade Inflation

  Kenneth H. Thomas
  Abstract

  Community Reinvestment Act of 1977 (CRA) ratings and performance evaluations are the only bank and thrift exam findings disclosed by financial institution regulators. Inflation of CRA ratings has been alleged…more

  Download Working Paper No. 313 PDF (176.93 KB)
• Working Paper No. 312
  August 01, 2000

  Demographic Outcomes of Ethnic Intermarriage in American History

  Joel Perlmann
  Abstract

  This paper presents a new approach to measuring the extent of intermarriage among Americans of different ethnic origins. Using Census Bureau microdata and CPS data, measurements of the rates of…more

  Download Working Paper No. 312 PDF (99.88 KB)
• Working Paper No. 311
  August 01, 2000

  Racial Wealth Disparities

  Maury Gittleman and Edward N. Wolff
  Abstract

  A vast literature in economics has examined the economic progress of African Americans during this century. Most of these studies have focused on income–or on even narrower measures of economic…more

  Download Working Paper No. 311 PDF (66.72 KB)
• Working Paper No. 310
  August 01, 2000

  Race and the Value of Owner-occupied Housing, 1940–1990

  William J. Collins and Robert A. Margo
  Abstract

  The racial gap in the value of owner-occupied housing has narrowed substantially since 1940, but this narrowing has not been even over time or across space. The 1970s stand out…more

  Download Working Paper No. 310 PDF (47.39 KB)
• Working Paper No. 309
  August 01, 2000

  Profits

  S. Jay Levy
  Abstract

  Profits are the incentive for production and therefore employment in almost all of the world’s economies; they also may represent exploitation of workers and consumers. Jerome Levy, using a complex…more

  Download Working Paper No. 309 PDF (32.36 KB)
• Working Paper No. 308
  August 01, 2000

  Discontinuities in the Distribution of Great Wealth

  Leonard Broom and William Shay
  Abstract

  National surveys of household economics and well-being in the United States usually focus on income. In those income surveys with supplemental wealth modules, the very rich are underrepresented if not…more

  Download Working Paper No. 308 PDF (2.29 MB)
• Working Paper No. 304
  July 01, 2000

  Family Structure, Race, and Wealth Ownership

  Lisa A. Keister
  Abstract

  Researchers have documented racial inequalities in wealth ownership and have offered a variety of explanations to account for these differences. One potentially important contributing factor that has received little attention…more

  Download Working Paper No. 304 PDF (52.13 KB)
• Working Paper No. 307
  July 01, 2000

  An Examination of Changes in the Distribution of Wealth from 1989 to 1998

  Arthur B. Kennickell
  Abstract

  This paper considers the distribution of wealth in the period from 1989 to 1998 as an indicator of the economic condition of households. It examines changes in the distribution of…more

  Download Working Paper No. 307 PDF (3.16 MB)
• Policy Note No. 7
  July 01, 2000

  Why Does the Fed Want Slower Growth?

  L. Randall Wray
  Abstract

  The Fed has raised interest rates six times in the past year to slow the economy, in the belief that unemployment is too low. There is scant evidence, however, that…more

  Download Policy Note 2000/7 PDF (56.76 KB)
• Working Paper No. 306
  July 01, 2000

  Household Savings in Germany

  Axel Börsch-Supan, Anette Reil-Held, Reinhold Schnabel, and Joachim Winter
  Abstract

  This paper describes how German households save and how their saving behavior is linked to public policy, notably pension policy. The analysis is based on a synthetic panel of four…more

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• Working Paper No. 305
  July 01, 2000

  Can European Banks Survive a Unified Currency in a Nationally Segmented Capital Market?

  Jan Kregel
  Abstract

  The euro was expected to become a substitute for the American dollar as an international currency. However, compromises made during its creation make it a less than perfect substitute in…more

  Download Working Paper No. 305 PDF (51.23 KB)
• Public Policy Brief No. 60
  June 08, 2000

  A Dual Mandate for the Federal Reserve

  Willem Thorbecke
  Abstract

  The Federal Reserve currently has two legislated goals—price stability and full employment—but a debate continues about making price stability the Fed’s primary and overriding goal. Evidence from the recent history…more

  Download Public Policy Brief No. 60, 2000 PDF (160.87 KB)
• Working Paper No. 303
  June 01, 2000

  “It” Happened, but Not Again

  Marc-André Pigeon
  Abstract

  This paper asks two questions: First, can we explain Japan’s ongoing financial crisis by means of an institutional analysis similar to the one Hyman P. Minsky applied to the American…more

  Download Working Paper No. 303 PDF (455.17 KB)
• Working Paper No. 302
  June 01, 2000

  Kaleckian Models of Growth in a Stock-flow Monetary Framework

  Wynne Godley and Marc Lavoie
  Abstract

  This paper presents a simple growth model grounded in a stock-flow monetary accounting framework. The framework ensures that all stocks and all flows are accounted for and that the real…more

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• Policy Note No. 6
  June 01, 2000

  Drowning in Debt

  Wynne Godley
  Abstract

  The economic expansion in the United States has been driven to an unusual extent by falling personal saving and rising borrowing by the private sector. If this process goes into…more

  Download Policy Note 2000/6 PDF (284.34 KB)
• Working Paper No. 301
  May 01, 2000

  Trends in Direct Measures of Job Skill Requirements

  Michael J. Handel
  Abstract

  It is commonly assumed that jobs in the United Sates require ever greater levels of skill and, more strongly, that this trend is accelerating as a result of the diffusion…more

  Download Working Paper No. 301 PDF (581.93 KB)
• Working Paper No. 300
  May 01, 2000

  Recent Trends in Wealth Ownership, 1983–1998

  Edward N. Wolff
  Abstract

  Using data from the Survey of Consumer Finances, I find that wealth inequality continued to rise in the United States after 1989, though at a reduced rate. The share of…more

  Download Working Paper No. 300 PDF (155.78 KB)
• Policy Note No. 5
  May 01, 2000

  Can the Expansion Be Sustained?

  L. Randall Wray
  Abstract

  Hyman P. Minsky’s insights into the relationship between profits, economic growth, and the public and private financial balances are particularly relevant to today’s conditions. How can a Minskyan view be…more

  Download Policy Note 2000/5 PDF (204.78 KB)
• Policy Note No. 4
  April 01, 2000

  Health Care Finance in Need of Rethinking

  Walter M. Cadette
  Abstract

  Hospitals have been squeezed by the Balanced Budget Act; the uninsured population is still on the rise; and long-term care is paid for largely by welfare grants. The nation’s flawed…more

  Download Policy Note 2000/4 PDF (47.57 KB)
• Working Paper No. 296
  March 01, 2000

  An Alternative Stability Pact for the European Union

  Philip Arestis, Kevin McCauley, and Malcolm Sawyer
  Abstract

  This 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. 3
  March 01, 2000

  Welfare College Students

  Thomas Karier
  Abstract

  The 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.

  Download Policy Note 2000/3 PDF (86.51 KB)
• Working Paper No. 299
  March 01, 2000

  The Public Commodities Problem

  Karl Widerquist
  Abstract

  The 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

  Download Working Paper No. 299 PDF (225.90 KB)
• Working Paper No. 298
  March 01, 2000

  Krugman on the Liquidity Trap

  Jan Kregel
  Abstract

  Paul 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

  Download Working Paper No. 298 PDF (35.45 KB)