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Working Paper No. 357The Euro, Public Expenditure, and Taxation
October 01, 2002 This paper explores the probable consequences for public expenditure in the United Kingdom if Britain were to join the euro. It focuses on the effects of sterling joining the euro...more Publication -
Working Paper No. 356
Asset Poverty in the United States, 1984–1999
October 01, 2002 Using PSID data for the years 1984 to 1999, we estimate the level and severity of asset poverty. Our results indicate that the share of asset-poor households remained almost the...more Publication -
Working Paper No. 353
Managed Care, Physician Incentives, and Norms of Medical Practice
September 01, 2002 The incentive contracts that managed care organizations write with physicians have generated considerable controversy. Critics fear that if informational asymmetries inhibit patients from directly assessing the quality of care provided...more Publication -
Working Paper No. 352
Critical Realism and the Political Economy of the Euro
September 01, 2002 This paper is concerned with two issues. First, it discusses some of the main problems and inferences the methodological approach of critical realism raises for empirical work in economics, while...more Publication -
Working Paper No. 351
Race, Ethnicity, and the Gender-poverty Gap
August 01, 2002 We use data from the Current Population Survey (CPS 1994-2001) to document the relationship between gender-specific demographic variations and the gender-poverty gap among eight racial/ethnic groups. We find that black...more Publication -
Public Policy Brief No. 68Optimal CRA Reform
August 01, 2002 At issue in the debate over the renewal of the Community Reinvestment Act (CRA) of 1977 are the various yardsticks regulators use to judge whether individual institutions are meeting the...more Publication -
Working Paper No. 350
Polish and Italian Schooling Then, Mexican Schooling Now?
July 01, 2002 This paper relies on data from the census and the Current Population Survey (CPS) to compare levels of education attained by second-generation young people from important immigrant groups during the...more Publication -
Working Paper No. 349
State Policies and the Warranted Growth Rate
July 01, 2002 This paper raises questions about austerity policies by investigating the effects of the state’s tax and expenditure policies on the warranted growth rate. It proposes two mechanisms to raise the...more Publication -
Working Paper No. 347
What Has Happened to Monetarism?
June 01, 2002 It is widely perceived that today’s conventional monetary wisdom, and the common practice of monetary policy based thereupon, is essentially “monetarist” by nature, if not by name. One objective of...more Publication -
Working Paper No. 346
CRA’s 25th Anniversary
June 01, 2002 This paper focuses on the past, present, and future rules and regulations implementing CRA as developed, applied, and enforced by the federal bank and thrift regulators. The past rules and...more Publication -
Working Paper No. 348
Asset Prices, Liquidity Preference, and the Business Cycle
June 01, 2002 In his Treatise on Money, John Maynard Keynes relied on two different premises to argue that the interest rate need not rise with rising levels of expenditure. One of these...more Publication -
Working Paper No. 345
The “Third Way” and the Challenges to Economic and Monetary Union Macropolicies
May 01, 2002 In the United Kingdom the emergence of a “New Labour” has been closely associated with the development of the notion of the “third way.” Tony Blair, for example, stated that...more Publication -
Strategic AnalysisStrategic Prospects and Policies for the US Economy
April 01, 2002 Notwithstanding the great achievements of the American economy, the growth of aggregate demand during the past several years has been structured in a way that would eventually prove unsustainable. During...more Publication -
Working Paper No. 344
Dollarization
March 01, 2002 When economies “dollarize,” their exchange rate and monetary policy, both considered to be sources of instability, are simultaneously discarded. Often, dollarization becomes an attractive option for developing countries that have...more Publication -
Policy Note No. 3European Integration and the “Euro Project”
March 01, 2002 The introduction of the euro has been a significant step in the integration of the economies of the countries that form the European Union (EU) and the 12 countries that...more Publication -
Working Paper No. 343
Poles and Italians Then, Mexicans Now?
February 01, 2002 A good deal of recent discussion among social scientists concerned with immigration is about the disadvantages faced by immigrants who enter the American labor force with much-lower levels of skills...more Publication -
Policy Note No. 2
The Brazilian Swindle and the Larger International Monetary Problem
February 01, 2002 The International Monetary Fund has offered Brazil a $30 billion loan, most of it reserved for next year, on condition that the country continue to run a large primary surplus...more Publication -
Working Paper No. 342
A Note on the Hicksian Concept of Income
February 01, 2002 Empirical studies of intertemporal dynamics of individual income, distribution of personal income, and growth and distribution of national income are all based on statistics that rely on some concept of...more Publication -
Policy Note No. 1
Kick-Start Strategy Fails to Fire Sputtering US Economic Motor
January 01, 2002 There is a strategic need, if a “growth recession” is to be avoided, for a new motor to drive the economy, particularly if there is a further decline in private...more Publication -
Public Policy Brief No. 66
Racial Wealth Disparities
November 01, 2001 Despite decades of policies aimed at improving the economic position of African Americans in terms of relative income and earnings, they remain substantially behind whites. The research presented in this...more Publication -
Working Paper No. 341
Israeli Attitudes about Inter Vivos Transfers
November 01, 2001 Using data from the 1994–95 Survey of Families in Israel—which includes 1,607 urban Jewish respondents interviewed on topics relating to work behavior, household income, wealth, assistance received from parents and...more Publication -
Public Policy Brief No. 67
The Economic Consequences of German Unification
November 01, 2001 Although the costs associated with moving an antiquated socialist economy toward its capitalist counterpart was anticipated to be significant, German industrial efficiency was expected to quickly overcome any challenges. Things...more Publication -
Working Paper No. 339
Uncertainty, Conventional Behavior, and Economic Sociology
October 01, 2001 This paper addresses the problem of the conceptualization of social structure and its relationship to human agency in economic sociology. The background is provided by John Maynard Keynes’s observations on...more Publication -
Policy Note No. 10
Are We All Keynesians (Again)?
October 01, 2001 It is now widely recognized that economists and policymakers alike had been living a 30-year fantasy. The best government is not that which governs least. The best economy is not...more Publication