Publications

1699 publications found

• Public Policy Brief No. 82
  August 03, 2005

  The Ownership Society

  L. Randall Wray
  Abstract

  As his new term begins, President George W. Bush has been trying to focus his domestic agenda on what he calls the “ownership society,” a sweeping vision of an America…more

  Download Public Policy Brief No. 82, 2005 PDF (488.89 KB)
• Working Paper No. 426
  July 20, 2005

  Gender Inequality in a Globalizing World

  Stephanie Seguino
  Abstract

  Emphasis on market-friendly macroeconomic and development strategies in recent years has resulted in deleterious effects on growth and well-being, and has done little to promote greater gender equality. This paper…more

  Download Working Paper No. 426 PDF (426.44 KB)
• Working Paper No. 425
  July 11, 2005

  Refocusing the ECB on Output Stabilization and Growth through Inflation Targeting?

  Jörg Bibow
  Abstract

  Challenging the conventional wisdom that structural problems are to blame for the euro area’s protracted domestic demand stagnation, this paper sets out to shed some fresh light on the role…more

  Download Working Paper No. 425 PDF (407.38 KB)
• Public Policy Brief No. 81
  June 27, 2005

  Breaking Out of the Deficit Trap

  James K. Galbraith
  Abstract

  For some time, Levy Institute scholars have been engaged with issues related to the current account, government, and private sector balances. We have argued that the existing imbalances in these…more

  Download Public Policy Brief No. 81, 2005 PDF (561.02 KB)
• Policy Notes No. 5
  June 16, 2005

  Some Unpleasant American Arithmetic

  Wynne Godley
  Abstract

  Is it sufficiently realized how intractable those account imbalances—and how dangerous their potential consequences at home and abroad—have now become?

  Download Policy Note 2005/5 PDF (424.62 KB)
• Working Paper No. 424
  June 15, 2005

  Macroeconomics of Speculation

  Korkut A. Ertürk
  Abstract

  Despite his emphasis on the speculative character of investment decisions, Minsky paid little attention to asset price speculation per se, ignoring asset price bubbles and their macroeconomic effects. That is…more

  Download Working Paper No. 424 PDF (785.43 KB)
• Working Paper No. 423
  May 06, 2005

  Is More Mobility Good? Firm Mobility and the Low Wage–Low Productivity Trap

  Stephanie Seguino
  Abstract

  This paper explores the possibility that unregulated FDI flows are causally implicated in the decline in labor productivity growth in semi-industrialized economies. These effects are hypothesized to operate through the…more

  Download Working Paper No. 423 PDF (728.08 KB)
• Research Project Report
  May 01, 2005

  Interim Report

  Hyunsub Kum, Edward N. Wolff, and Ajit Zacharias
  Abstract

  This interim report compares the LIMEW and official measures of economic well-being for 1989–2002, a period marked by the economic boom of the late 1990s and a mild recession in…more

  Download LIMEW Report, May 2005 PDF (342.81 KB)
• Policy Notes No. 4
  April 29, 2005

  Imbalances Looking for a Policy

  Wynne Godley
  Abstract

  The latest batch of numbers from the United States makes for a disturbing read. The GDP growth rate of GDP has been adequate. However, the current account deficit was 6.3…more

  Download Policy Note 2005/4 PDF (203.79 KB)
• Working Paper No. 422
  April 29, 2005

  The Disutility of International Debt

  Abstract

  In dealing with the problematic relationship of morality to rational choice theory, neoclassical economists since Lionel Robbins have often argued that they can incorporate moral values into consumer theory by…more

  Download Working Paper No. 422 PDF (303.45 KB)
• Policy Notes No. 3
  April 26, 2005

  Is the Dollar at Risk?

  Korkut A. Ertürk
  Abstract

  A massive fiscal stimulus and, until recently, aggressive monetary easing have been successful in raising bond and real estate prices to unprecedented levels, inducing a credit boom that has prevented…more

  Download Policy Note 2005/3 PDF (434.05 KB)
• Working Paper No. 421
  April 07, 2005

  A Simplified Stock-flow Consistent Post-Keynesian Growth Model

  Claudio H. Dos Santos and Gennaro Zezza
  Abstract

  Despite being arguably the most rigorous form of structuralist/post-Keynesian macroeconomics, stock-flow consistent models are quite often complex and difficult to deal with. This paper presents a model that, despite retaining…more

  Download Working Paper No. 421 PDF (397.91 KB)
• Working Paper No. 420
  March 25, 2005

  Is the Equalizing Effect of Retirement Wealth Wearing Off?

  Edward N. Wolff
  Abstract

  Retirement wealth is often viewed as a great equalizer, offsetting the inequality in standard household net worth. One of the most dramatic changes in the retirement income system over the…more

  Download Working Paper No. 420 PDF (802.95 KB)
• Working Paper No. 419
  March 08, 2005

  FDIC-sponsored Self-Insured Depositors

  Panos Konstas
  Abstract

  Insured depositors have no reason to care how their banks perform or how safe they are.  Only uninsured depositors have that incentive.  This paper offers a plan to replace some…more

  Download Working Paper No. 419 PDF (302.99 KB)
• Research Project Report
  March 01, 2005

  Economic Well-Being in US Regions and the Red and Blue States

  Edward N. Wolff and Ajit Zacharias
  Abstract

  This report analyzes regional aspects of economic well-being according to four regions identified by the United States Census Bureau: the Northeast, Midwest, South, and West. Using the official measures and…more

  Download LIMEW Report, March 2005 PDF (1.59 MB)
• Strategic Analysis
  March 01, 2005

  How Fragile Is the US Economy?

  Claudio H. Dos Santos, Dimitri B. Papadimitriou, Anwar M. Shaikh, and Gennaro Zezza
  Abstract

  As we projected in a previous Strategic Analysis, the United States’ economy experienced growth rates higher than 4 percent in 2004. The question we want to raise in this Strategic…more

  Download Strategic Analysis, March 2005 PDF (727.46 KB)
• Working Paper No. 418
  February 24, 2005

  Asset Ownership along Gender Lines

  Rania Antonopoulos and Maria Sagrario Floro
  Abstract

  Gender differences have long been documented in earnings, employment opportunities, and time spent within the unpaid care economy. This paper joins the recent efforts in the economics literature on gender…more

  Download Working Paper No. 418 PDF (492.98 KB)
• Policy Notes No. 2
  February 08, 2005

  Manufacturing a Crisis

  L. Randall Wray
  Abstract

  For seven decades, the far right has never veered from its avowed mission to gut America’s most comprehensive, successful, and popular safety net: Social Security. While it had won a…more

  Download Policy Note 2005/2 PDF (223.50 KB)
• Working Paper No. 417
  January 22, 2005

  Determinants of Minority–White Differentials in Child Poverty

  Yuval Elmelech
  Abstract

  This paper uses data from the 1993–2001 March Current Population Survey to estimate the extent to which child living arrangements, parental work patterns, and immigration attributes shape racial and ethnic…more

  Download Working Paper No. 417 PDF (397.09 KB)
• Working Paper No. 416
  January 20, 2005

  Occupational and Industrial Mobility in the United States 1969–93

  Asena Caner and Edward N. Wolff
  Abstract

  Using the Panel Study of Income Dynamics, we investigate occupational and industrial mobility of individuals over the 1969–80 and 1981–93 periods in the United States. We find that workers changed…more

• Policy Notes 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)