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Working Paper No. 308Discontinuities in the Distribution of Great Wealth
August 01, 2000 National surveys of household economics and well-being in the United States usually focus on income. In those income surveys with supplemental wealth modules, the very rich are underrepresented if not...more Publication -
Working Paper No. 307
An Examination of Changes in the Distribution of Wealth from 1989 to 1998
July 01, 2000 This paper considers the distribution of wealth in the period from 1989 to 1998 as an indicator of the economic condition of households. It examines changes in the distribution of...more Publication -
Policy Note No. 7Why Does the Fed Want Slower Growth?
July 01, 2000 The Fed has raised interest rates six times in the past year to slow the economy, in the belief that unemployment is too low. There is scant evidence, however, that...more Publication -
Working Paper No. 306
Household Savings in Germany
July 01, 2000 This paper describes how German households save and how their saving behavior is linked to public policy, notably pension policy. The analysis is based on a synthetic panel of four...more Publication -
Working Paper No. 305
Can European Banks Survive a Unified Currency in a Nationally Segmented Capital Market?
July 01, 2000 The euro was expected to become a substitute for the American dollar as an international currency. However, compromises made during its creation make it a less than perfect substitute in...more Publication -
Working Paper No. 304
Family Structure, Race, and Wealth Ownership
July 01, 2000 Researchers have documented racial inequalities in wealth ownership and have offered a variety of explanations to account for these differences. One potentially important contributing factor that has received little attention...more Publication -
Public Policy Brief No. 60A Dual Mandate for the Federal Reserve
June 08, 2000 The Federal Reserve currently has two legislated goals—price stability and full employment—but a debate continues about making price stability the Fed’s primary and overriding goal. Evidence from the recent history...more Publication -
Policy Note No. 6
Drowning in Debt
June 01, 2000 The economic expansion in the United States has been driven to an unusual extent by falling personal saving and rising borrowing by the private sector. If this process goes into...more Publication -
Working Paper No. 303
“It” Happened, but Not Again
June 01, 2000 This paper asks two questions: First, can we explain Japan’s ongoing financial crisis by means of an institutional analysis similar to the one Hyman P. Minsky applied to the American...more Publication -
Working Paper No. 302
Kaleckian Models of Growth in a Stock-flow Monetary Framework
June 01, 2000 This paper presents a simple growth model grounded in a stock-flow monetary accounting framework. The framework ensures that all stocks and all flows are accounted for and that the real...more Publication -
Policy Note No. 5
Can the Expansion Be Sustained?
May 01, 2000 Hyman P. Minsky’s insights into the relationship between profits, economic growth, and the public and private financial balances are particularly relevant to today’s conditions. How can a Minskyan view be...more Publication -
Working Paper No. 301
Trends in Direct Measures of Job Skill Requirements
May 01, 2000 It is commonly assumed that jobs in the United Sates require ever greater levels of skill and, more strongly, that this trend is accelerating as a result of the diffusion...more Publication -
Working Paper No. 300
Recent Trends in Wealth Ownership, 1983–1998
May 01, 2000 Using data from the Survey of Consumer Finances, I find that wealth inequality continued to rise in the United States after 1989, though at a reduced rate. The share of...more Publication -
Policy Note No. 4
Health Care Finance in Need of Rethinking
April 01, 2000 Hospitals have been squeezed by the Balanced Budget Act; the uninsured population is still on the rise; and long-term care is paid for largely by welfare grants. The nation’s flawed...more Publication -
Working Paper No. 299
The Public Commodities Problem
March 01, 2000 The decision about how much to spend on a public program depends on the answers to two questions: Should the government pursue the goal of this program? Given that the...more Publication -
Working Paper No. 298
Krugman on the Liquidity Trap
March 01, 2000 Paul Krugman has argued that Japan is in a liquidity trap and that it can recover only if the central bank there follows a policy of “credible inflation.” This paper...more Publication -
Working Paper No. 297
What’s Behind the Recent Rise in Profitability?
March 01, 2000 Profitability in the United States has been rising since the early 1980s and by 1997 was at its highest level since its postwar peak in the mid 1960s, and the...more Publication -
Working Paper No. 296
An Alternative Stability Pact for the European Union
March 01, 2000 This paper proposes an alternative stability and growth pact among European Union (EU) governments that would underpin the introduction of a single currency and a “single market” within the EU....more Publication -
Policy Note No. 3
Welfare College Students
March 01, 2000 The rules and regulations that were developed to reduce welfare rolls through immediate employment discourage the achievement of economic independence through the pursuit of higher education. Publication -
Policy Note No. 2
Is the New Economy Rewriting the Rules?
February 05, 2000 Full employment without inflation can continue—with the right leadership, prudent policy changes to manage the dangers, and cooperation from all branches of the government. Publication -
Public Policy Brief No. 59
Financing Long-Term Care
February 03, 2000 The nation is not prepared to deal with the jump in expenditures for long-term care that will come with the aging of the baby-boom generation. Only a small part of...more Publication -
Working Paper No. 295
Is There a Skills Crisis?
February 01, 2000 Many economists and other social scientists and policy makers believe that the growth in inequality in the last two decades reflects mostly an imbalance between the demand for and the...more Publication -
Working Paper No. 294
The Brazilian Crisis
February 01, 2000 This paper argues that the Brazilian crisis differs from the standard Minsky crisis in that it is Brazil’s government that is engaging in Ponzi financing while private sector balance sheets...more Publication -
Strategic AnalysisInterim Report
January 01, 2000 If the United States’ balance of trade does not improve, the country could eventually find itself in a “debt trap,” the author says. The aim of this paper, the second...more Publication