Publications

1711 publications found

• Working Paper No. 578
  September 24, 2009

  Money Manager Capitalism and the Global Financial Crisis

  L. Randall Wray
  Abstract

  This paper applies Hyman Minsky’s approach to provide an analysis of the causes of the global financial crisis. Rather than finding the origins in recent developments, this paper links the…more

  Download Working Paper No. 578 PDF (171.99 KB)
• Working Paper No. 577
  September 21, 2009

  Explaining the Gender Wage Gap in Georgia

  Tamar Khitarishvili
  Abstract

  This paper evaluates gender wage differentials in Georgia between 2000 and 2004. Using ordinary least squares, we find that the gender wage gap in Georgia is substantially higher than in…more

  Download Working Paper No. 577 PDF (364.33 KB)
• Working Paper No. 576
  September 09, 2009

  A Financial Sector Balance Approach and the Cyclical Dynamics of the US Economy

  Paolo Casadio and Antonio Paradiso
  Abstract

  This paper investigates the relationship between asset markets and business cycles with regard to the US economy. We consider the Goldman Sachs approach (2003) developed to study the dynamics of…more

  Download Working Paper No. 576 PDF (644.03 KB)
• Working Paper No. 575
  August 30, 2009

  Market Failure and Land Concentration

  Fatma Gül Unal
  Abstract

  Utilizing a 2002 household-level World Bank Survey for rural Turkey, this paper explores the link between concentration of land ownership and rural factor markets. We construct a unique index that…more

  Download Working Paper No. 575 PDF (378.46 KB)
• Public Policy Brief No. 104
  August 28, 2009

  The New New Deal Fracas

  Dimitri B. Papadimitriou
  Abstract

  A wave of revisionist work claims that “anticompetitive” New Deal legislation such as the National Industrial Recovery Act (NIRA) and the National Labor Relations Act (NLRA) greatly slowed the recovery…more

  Download Public Policy Brief No. 104, 2009 PDF (130.77 KB)
• Public Policy Brief No. 103
  August 21, 2009

  Financial and Monetary Issues as the Crisis Unfolds

  James K. Galbraith
  Abstract

  A group of experts associated with the Economists for Peace and Security and the Initiative for Rethinking the Economy met recently in Paris to discuss financial and monetary issues; their…more

  Download Public Policy Brief No. 103, 2009 PDF (149.60 KB)
• Public Policy Brief No. 102
  August 20, 2009

  The Global Crisis and the Implications for Developing Countries and the BRICs

  Jan Kregel
  Abstract

  The term BRIC was first coined by Goldman Sachs and refers to the fast-growing developing economies of Brazil, Russia, India, and China–a class of middle-income emerging market economies of relatively…more

  Download Public Policy Brief No. 102, 2009 PDF (1.33 MB)
• Working Paper No. 574
  August 19, 2009

  A Critical Assessment of Seven Reports on Financial Reform: A Minskyan Perspective, Part IV

  Abstract

  This four-part study is a critical analysis of several reports dealing with the reform of the financial system in the United States. The study uses Minsky’s framework of analysis and…more

  Download Working Paper No. 574.4 PDF (376.67 KB)
• Working Paper No. 574
  August 18, 2009

  A Critical Assessment of Seven Reports on Financial Reform: A Minskyan Perspective, Part III

  Abstract

  This four-part study is a critical analysis of several reports dealing with the reform of the financial system in the United States. The study uses Minsky’s framework of analysis and…more

  Download Working Paper No. 574.3 PDF (254.35 KB)
• Working Paper No. 574
  August 17, 2009

  A Critical Assessment of Seven Reports on Financial Reform: A Minskyan Perspective, Part II

  Abstract

  This four-part study is a critical analysis of several reports dealing with the reform of the financial system in the United States. The study uses Minsky’s framework of analysis and…more

  Download Working Paper No. 574.2 PDF (211.37 KB)
• Working Paper No. 574
  August 16, 2009

  A Critical Assessment of Seven Reports on Financial Reform: A Minskyan Perspective, Part I

  Abstract

  This four-part study is a critical analysis of several reports dealing with the reform of the financial system in the United States. The study uses Minsky’s framework of analysis and…more

  Download Working Paper No. 574.1 PDF (197.71 KB)
• Working Paper No. 573
  August 15, 2009

  Securitization, Deregulation, Economic Stability, and Financial Crisis, Part II

  Abstract

  This study analyzes the trends in the financial sector over the past 30 years, and argues that unsupervised financial innovations and lenient government regulation are at the root of the…more

  Download Working Paper No. 573.2 PDF (2.20 MB)
• Working Paper No. 573
  August 14, 2009

  Securitization, Deregulation, Economic Stability, and Financial Crisis, Part I

  Abstract

  This study analyzes the trends in the financial sector over the past 30 years, and argues that unsupervised financial innovations and lenient government regulation are at the root of the…more

  Download Working Paper No. 573.1 PDF (1,015.37 KB)
• Working Paper No. 572
  August 13, 2009

  The Unequal Burden of Poverty on Time Use

  Emel Memiş and Burca Kizilirmak
  Abstract

  This study uses the first time-use survey carried out in South Africa (2000) to examine women’s and men’s time use, with a focus on the impacts of income poverty. We…more

  Download Working Paper No. 572 PDF (232.59 KB)
• Working Paper No. 571
  August 11, 2009

  How Well Do Individuals Predict the Selling Prices of Their Homes?

  Selçuk Eren, Hugo Benítez-Silva, Frank Heiland, and Sergi Jiménez-Martín
  Abstract

    Self-reported home values are widely used as a measure of housing wealth by researchers; the accuracy of this measure, however, is an open empirical question, and requires some type…more

  Download Working Paper No. 571 PDF (321.34 KB)
• Working Paper No. 570
  July 23, 2009

  From Unpaid to Paid Care Work

  Rania Antonopoulos and Taun Toay
  Abstract

  This paper considers public employment guarantee programs in the context of South Africa as a means to address the nexus of poverty, unemployment, and unpaid work burdens—all factors exacerbated by…more

  Download Working Paper No. 570 PDF (211.16 KB)
• Testimony
  July 14, 2009

  Statement of Professor James K. Galbraith to the Subcommittee on Domestic Monetary Policy and Technology, Committee on Financial Services, US House of Representatives

  James K. Galbraith
  Abstract

  On July 9, 2009, Senior Scholar James K. Galbraith testified before the House Financial Services Committee regarding the functions of the Federal Reserve under the Obama administration’s proposals for financial…more

  Download Testimony, July 9, 2009 PDF (225.61 KB)
• Policy Note
  June 16, 2009

  Special Report: Who Gains from President Obama’s Stimulus Package … And How Much?

  Ajit Zacharias, Thomas Masterson, and Kijong Kim
  Abstract

  In this Special Report, Levy scholars Ajit Zacharias, Thomas Masterson, and Kijong Kim provide a preliminary assessment of the 2009 American Recovery and Reinvestment Act (ARRA), a package of transfers…more

  Download Special Report, June 12, 2009 PDF (446.17 KB)
• Working Paper No. 569
  June 15, 2009

  Fiscal Policy and the Economics of Financial Balances

  Gennaro Zezza
  Abstract

  This paper presents the main features of the macroeconomic model being used at The Levy Economics Institute of Bard College, which has proven to be a useful tool in tracking…more

  Download Working Paper No. 569 PDF (224.03 KB)
• Public Policy Brief No. 101
  June 09, 2009

  Promoting Gender Equality through Stimulus Packages and Public Job Creation

  Rania Antonopoulos
  Abstract

  Beyond loss of income, joblessness is associated with greater poverty, marginalization, and social exclusion; the current global crisis is clearly not helping. In this new Public Policy Brief, Research Scholar…more

  Download Public Policy Brief No. 101, 2009 PDF (123.71 KB)
• Working Paper No. 568
  June 04, 2009

  Distributional Impact of the American Recovery and Reinvestment Act

  Ajit Zacharias, Thomas Masterson, and Kijong Kim
  Abstract

  Over the last two decades, those at the bottom of the income scale have seen their incomes stagnate, while those at the top have seen theirs skyrocket; without intervention, the…more

  Download Working Paper No. 568 PDF (350.09 KB)
• Working Paper No. 567
  June 01, 2009

  Revisiting (and Connecting) Marglin-Bhaduri and Minsky

  Claudio H. Dos Santos and Antonio C. Macedo e Silva
  Abstract

  Many heterodox strands of thought share both a concern with the study of different phases or growth regimes in the history of capitalism and the use of formal short-run models…more

  Download Working Paper No. 567 PDF (571.01 KB)
• Policy Note No. 8
  June 01, 2009

  Some Simple Observations on the Reform of the International Monetary System

  Jan Kregel
  Abstract

  The demand for reform of the financial system has focused on the dollar’s loss of international purchasing power (the Triffin dilemma) and its substitution by an international reserve currency that…more

  Download Policy Note 2009/8 PDF (81.94 KB)
• Policy Note No. 7
  May 28, 2009

  “Enforced Indebtedness” and Capital Adequacy Requirements

  Jan Toporowski
  Abstract

  The capital adequacy requirements for banks, enshrined in international banking regulations, are based on a fallacy of composition—namely, the notion that an individual firm can choose the structure of its…more

  Download Policy Note 2009/7 PDF (83.40 KB)