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Working Paper No. 541The Unpaid Care Work–Paid Work Connection
July 23, 2008 In order to provide a coherent perspective of gender differences in the world of work, the many intersections of paid and unpaid work must be brought to light. It is...more Publication -
Working Paper No. 540
The Effects of International Trade on Gender Inequality
July 22, 2008 The process of economic globalization has winners and losers. Iran’s carpet industry provides a good illustration of the adverse side of this process. As the production costs of its rivals...more Publication -
Working Paper No. 539
The Return of Fiscal Policy
July 14, 2008 The monetarist counterrevolution and the stagflation period of the 1970s were among the theoretical and practical developments that led to the rejection of fiscal policy as a useful tool for...more Publication -
Working Paper No. 538
The Buffett Plan for Reducing the Trade Deficit
July 10, 2008 This paper considers a plan proposed by Warren Buffett, whereby importers would be required to obtain certificates proportional to the amount of non-oil goods (and possibly also services) they brought...more Publication -
Working Paper No. 537
The Keynesian Roots of Stock-flow Consistent Macroeconomic Models
July 09, 2008 This paper argues that institutionally rich stock-flow consistent models—that is, models in which economic agents are identified with the main social categories/institutional sectors of actual capitalist economies, the short period...more Publication -
Working Paper No. 536
Deficient Public Infrastructure and Private Costs
July 03, 2008 This paper presents new evidence on the links between public-infrastructure provisioning and time allocation related to the water sector in India. An analysis of time-use data reveals that worsening public...more Publication -
Policy Note No. 2Securitization
June 05, 2008 “At the annual banking structure and competition conference of the Federal Reserve Bank of Chicago in May 1987, the buzzword heard in the corridors and used by many of the...more Publication -
Policy Note No. 1
The Collapse of Monetarism and the Irrelevance of the New Monetary Consensus
May 27, 2008 What in monetarism, and what in the "new monetary consensus," led to a correct or even remotely relevant anticipation of the extraordinary financial crisis that broke over the housing sector,...more Publication -
Policy Note
The Collapse of Monetarism and the Irrelevance of the New Monetary Consensus
May 27, 2008 “What in monetarism, and what in the ‘new monetary consensus,’ led to a correct or even remotely relevant anticipation of the extraordinary financial crisis that broke over the housing sector,...more Publication -
Policy Note
The Collapse of Monetarism and the Irrelevance of the New Monetary Consensus
May 27, 2008 What in monetarism, and what in the “new monetary consensus,” led to a correct or even remotely relevant anticipation of the extraordinary financial crisis that broke over the housing sector,...more Publication -
Working Paper No. 535
Statistical Matching Using Propensity Scores
May 13, 2008 This paper summarizes the background, type, logic, and working procedure of the statistical matching used in the Levy Institute Measure of Economic Well-Being (LIMEW) project to combine the various data...more Publication -
Working Paper No. 534
Argentina: A Case Study on the Plan Jefes y Jefas de Hogar Desocupados, or the Employment Road to Economic Recovery
May 08, 2008 After the 2001 crisis, Argentina—once the poster-child for pro-market structural-adjustment policies—had to define a new strategy in order to manage the societal demands that had led to the fall of...more Publication -
Working Paper No. 533
The Discrete Charm of the Washington Consensus
April 29, 2008 Over the last two centuries in Latin America a Washington Consensus development strategy based on integration in the global trading system has dominated both domestic demand management and industrialization "from...more Publication -
Working Paper No. 532
Old Wine in a New Bottle: Subprime Mortgage Crisis—Causes and Consequences
April 28, 2008 This paper seeks to explain the causes and consequences of the United States subprime mortgage crisis, and how this crisis has led to a generalized credit crunch in other financial...more Publication -
Working Paper No. 531
The International Monetary (Non-)Order and the “Global Capital Flows Paradox”
April 23, 2008 This paper sets out to investigate the forces behind the so-called “global capital flows paradox” and related “dollar glut” observed in the era of advancing financial globalization. The supposed paradox...more Publication -
Working Paper No. 530
Changes in the US Financial System and the Subprime Crisis
April 14, 2008 This paper traces the evolution of housing finance in the United States from the deregulation of the financial system in the 1970s to the breakdown of the savings and loan...more Publication -
Strategic AnalysisFiscal Stimulus—Is More Needed?
April 09, 2008 As the government prepares to dispense the tax rebates that largely make up its recently approved $168 billion stimulus package, President Dimitri B. Papadimitriou and Research Scholars Greg Hannsgen and...more Publication -
Public Policy Brief No. 94Financial Markets Meltdown
April 01, 2008 In this new Public Policy Brief, Senior Scholar L. Randall Wray explains today’s complex and fragile financial system, and how the seeds of crisis were sown by lax oversight, deregulation,...more Publication -
Working Paper No. 529
Can Robbery and Other Theft Help Explain the Textbook Currency-demand Puzzle?
March 06, 2008 This paper attempts to explain one version of an empirical puzzle noted by Mankiw (2003): a Baumol-Tobin inventory-theoretic money demand equation predicts that the average adult American should have held...more Publication -
Working Paper No. 528
Financial Flows and International Imbalances
February 18, 2008 While the traditional approach to the adjustment of international imbalances assumes industrialized countries at a similar level of development and with similar production structures, such imbalances have historically been the...more Publication -
Working Paper No. 527
Financing Job Guarantee Schemes by Oil Revenue
January 25, 2008 Iran’s constitution emphasizes social justice and obliges government to provide a job for every citizen. But in fact, the government’s duty to provide jobs has shifted to government support for...more Publication -
Public Policy Brief No. 93
Minsky’s Cushions of Safety
January 08, 2008 In this brief, Senior Scholar Jan Kregel reviews Hyman P. Minsky’s concept of financial fragility—in short, that the structure of a capitalist economy becomes more fragile over a period of...more Publication -
Research Project Report No. 34Joint Project of UNDP and Levy Institute on Public Employment
January 02, 2008 Joint UNDP—Levy Institute Study Focuses on Employment Guarantee Strategies The recent financial turmoil has brought with it worldwide acceptance of the fact that, when markets fail, government intervention is indispensable....more Publication -
Working Paper No. 526
American Jewish Opinion about the Future of the West Bank
December 21, 2007 American Jewish opinion about the Arab-Israel conflict matters for both American and Israeli politics as well as for American Jewish life. This paper undertakes an analysis of that opinion based...more Publication