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Working Paper No. 206August 01, 1997
Are Good Jobs Flying Away?
AbstractAerospace, once the "crown jewel" of American manufacturing, is experiencing a structural decline characterized by a narrowing of the industry trade surplus, an increase in the foreign content of commercial…more
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Working Paper No. 205August 01, 1997
Macroeconomics without Equilibrium or Disequilibrium
AbstractDistinguished Scholar Wynne Godley creates a numerical simulation model that attempts a synthesis between the monetary theory of Hicks and Kaldor, the asset allocation theory of James Tobin, and the…more
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Working Paper No. 204August 01, 1997
The Growth in Work Time and the Implications for Macro Policy
AbstractIn May 1997, the official unemployment rate was 4.8 percent—the lowest in 24 years. Not long ago, most economists would have considered such an unemployment record impossible to achieve without…more
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Working Paper No. 203August 01, 1997
The NAIRU
AbstractThe nonaccelerating inflation rate of unemployment, or NAIRU, has acquired a central role in macroeconomic theory. Fear of inflation has led to a reluctance to allow the unemployment rate to…more
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Working Paper No. 202August 01, 1997
Aggregate Demand, Investment, and the NAIRU
AbstractThe nonaccelerating inflation rate of unemployment, or NAIRU, is generally viewed as a supply-side-determined, short-run equilibrium rate of unemployment. In most NAIRU models, aggregate demand plays no essential role in…more
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Working Paper No. 201August 01, 1997
Organizational Learning and International Competition
AbstractOver the last three decades, despite economic growth, the United States has experienced both increasing relative inequality and an absolute decline of real wages. Explanations sometimes offered for this inability…more
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Working Paper No. 200August 01, 1997
Second Generations
AbstractThis paper takes a doubting, though friendly, look at the hypotheses of “second generation deciine” and “segmented assimiiation” that have framed the emerging research agenda on the new second generation….more
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Working Paper No. 199July 01, 1997
Good Jobs and the Cutting Edge
AbstractGood, stable jobs with high earnings started to disappear from the United States economy in the late 1970s. The loss of the majority of these jobs resulted from structural changes,…more
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Working Paper No. 198July 01, 1997
Earnings Inequality and the Quality of Jobs
AbstractThe increase in earnings inequality in the United States is now a widely accepted fact that much economics literature has attempted to explain. Philip Moss, of the University of Massachusetts…more
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Working Paper No. 197July 01, 1997
Minimum Wage and Justice?
AbstractOpposition to the minimum wage, according to Resident Scholar Oren M. Levin-Waldman, ultimately rests on a popular political philosophy and a popular economic theory. The popular version of classical liberal…more
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Working Paper No. 196July 01, 1997
Skiki vono ko shtuvalo?
AbstractAfter the collapse of the Soviet bloc many of the transition economies experienced significant inflation, largely because their new monetary authorities and undeveloped tax infrastructure induced them to resort to…more
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Working Paper No. 195June 01, 1997
“Multiracials,†Racial Classification, and American Intermarriage—The Public’s Interest
AbstractHow the census of 2000 is to count “multiracial” people is a hot topic in Washington. A federal task force presented a draft of its recommendations in July, and the…more
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Public Policy Brief No. 31May 04, 1997
A New Path from Welfare to Work
AbstractThe author of this brief asks why welfare, workforce development, and unemployment insurance are operated as separate entities. If the goal of the new welfare law is to end dependency…more
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Working Paper No. 194May 01, 1997
The Working Poor
AbstractMost Americans believe that if they work hard, they should not be poor. Although recent government welfare reform policy is aimed at encouraging people to work more, seven to nine…more
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Working Paper No. 193May 01, 1997
The Impact of Declining Union Membership on Voter Participation among Democrats
AbstractNo further information available.
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Public Policy Brief No. 30April 03, 1997
Prescription for Health Care Policy
AbstractWith health care delivery increasingly shaped by market and budgetary discipline, the provision of health care for all seems an ever-more-distant goal.The high cost of American health care is the…more
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Working Paper No. 188April 01, 1997
No Easy Answers
AbstractHigh unemployment rates and increasing terms of unemployment have persisted in western European countries for the past 20 years. These problems have been explained as resulting from inflexibility in the…more
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Working Paper No. 192April 01, 1997
Social Security
AbstractSome reform of Social Security is needed to keep the system solvent given the additional financial pressure that will be placed on it as the baby boom generation retires: the…more
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Working Paper No. 191April 01, 1997
Dynamic Output and Employment Effects of Public Capital
AbstractStudies that have examined the effect of public spending on economic growth have reported esmates for the marginal product of public capital that are well in excess of, equal to,…more
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Working Paper No. 190April 01, 1997
Output and Employment Effects of Public Capital
AbstractStudies that have examined the effect of public spending on economic growth have reported esmates for the marginal product of public capital that are well in excess of, equal to,…more
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Working Paper No. 189April 01, 1997
Do States Optimize?
AbstractStudies that have examined the effect of public spending on economic growth have reported esmates for the marginal product of public capital that are well in excess of, equal to,…more
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Working Paper No. 187March 01, 1997
Real Estate and the Capital Gains Debate
AbstractThe recent budget agreement contains a capital gains tax cut. The principal justification for reducing the capital gains tax rate relies on the efficiency-equity trade-off. The capital gains tax is…more
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Working Paper No. 186March 01, 1997
Gender Wage Differentials, Affirmative Action, and Employment Growth on the Industry Level
AbstractIn their study of industry wage premia, Research Associates Judith Fields of Lehman College, City University of New York, and Edward N. Wolff of New York University find that gender…more
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Working Paper No. 185March 01, 1997
Disinflationary Monetary Policy and the Distribution of Income
AbstractSome economists and others argue that, despite years of low inflation, a further decrease in the rate of price growth would be beneficial by reducing the dead-weight losses created by…more
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