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Working Paper No. 335Young Mexican Americans, Blacks, and Whites in Recent Years
August 01, 2001 This paper stresses that the key to concerns about the progress of second-generation Americans is the fate of the Mexican second generation. It compares several indicators of the advances of...more Publication -
Working Paper No. 334
Reflections on the Current Fashion for Central Bank Independence
July 01, 2001 This paper challenges the time-inconsistency case for central bank independence. It argues that the time-inconsistency literature not only seriously confuses the substance of the rules versus discretion debate, but also...more Publication -
Strategic AnalysisAs the Implosion Begins . . . ?
July 01, 2001 The American economy is probably now in recession, and a prolonged period of subnormal growth and rising unemployment is likely unless there is another round of policy changes. A further...more Publication -
Policy Note No. 7The New Old Economy
July 01, 2001 Consensus opinion sees the United States’ economy growing by around 3 percent per year over the next few years, a high enough rate to keep unemployment low and outpace Europe....more Publication -
Working Paper No. 333
Toward a Population History of the Second Generation
June 01, 2001 Past-present comparisons of second-generation progress are often plagued by vague references to the baseline, the past. This essay seeks to contribute some specificity to the understanding of second generations past...more Publication -
Working Paper No. 332
Contradictions Coming Home to Roost?
June 01, 2001 It is widely believed that the current economic slowdown will be mild and temporary in nature, the result of a momentary wobble in the stock market. This paper argues that...more Publication -
Public Policy Brief No. 64Campaign Contributions, Policy Decisions, and Election Outcomes
June 01, 2001 Proposals for campaign finance reform are essentially based on the belief that political influence can be bought with financial donations to a candidate’s campaign. But do contributions really influence the...more Publication -
Policy Note No. 6
Killing Social Security Softly with Faux Kindness
June 01, 2001 The President’s commission claims that the Social Security program is “unsustainable” and requires a complete “overhaul.” It also claims that the program is a bad deal for women and minorities....more Publication -
Working Paper No. 331
Skills, Computerization, and Earnings in the Postwar US Economy
May 01, 2001 Using both time-series and pooled cross-section, time-series data for 44 industries in the United States over the period 1947–97, the authors find no evidence to support the idea that the...more Publication -
Working Paper No. 330
Is Wealth Becoming More Polarized in the United States?
May 01, 2001 Recent work has documented a rising degree of wealth inequality in the United States between 1983 and 1998. In this paper we look at another dimension of the distribution: polarization....more Publication -
Working Paper No. 329
Reporting of Two or More Races in the 1999 American Community Survey
May 01, 2001 This study presents data on race, collected at selected sites throughout the country for the 1999 American Community Survey (ACS). In particular, the distribution of the population by race and...more Publication -
Working Paper No. 328
On the “Burden” of German Unification
May 01, 2001 This paper investigates the causes of western Germany’s remarkably poor performance since 1992. The paper challenges the view that the poor record of the nineties, particularly the marked deterioration in...more Publication -
Policy Note No. 5
The Backward Art of Tax Cutting
May 01, 2001 This policy note examines the case for large tax cuts, focusing on the issues surrounding the purpose and overall size of the needed cut. Although Congress has passed a significant...more Publication -
Policy Note No. 4
Put Your Chips on 35
April 01, 2001 According to Federal Reserve Chairman Alan Greenspan, we live in a time “profoundly different from the typical postwar business cycle.” Our experiences have “defied conventional wisdom” and mark ”veritable shifts...more Publication -
Working Paper No. 326
Making EMU Work
March 01, 2001 This paper investigates the lessons learned from Europe’s convergence process of the 1990s. The paper challenges the conventional focus on labour market institutions and “structural rigidities” as the root cause...more Publication -
Policy Note No. 3
Financing Health Care
March 01, 2001 The problem is that the payers of health care—government and employers alike—are in open revolt against costs they never anticipated would become so high. Payers succeeded for a time in...more Publication -
Working Paper No. 325
Endogenous Money in a Coherent Stock-flow Framework
March 01, 2001 A method advocated by Wynne Godley to model monetary macroeconomics, is presented. The method, based on a transactions matrix, essentially makes sure that every flow goes somewhere and comes from...more Publication -
Working Paper No. 324
The Causes of Euro Instability
March 01, 2001 This paper examines the causes of the general decline in the value of the euro. First, it assesses the various explanations proffered in existing literature, and then it offers a...more Publication -
Working Paper No. 323
Easy Money through the Back Door
March 01, 2001 This paper assesses the performance of the European Central Bank (ECB) over the first two years of Europe’s new policy regime. The verdict is that the ECB was not actually...more Publication -
Working Paper No. 322
Will the Euro Bring Economic Crisis to Europe?
March 01, 2001 It has been argued that the eurozone will face considerable economic difficulties. These will take a number of forms, two of which could qualify as “crises.” First, the euro was...more Publication -
Public Policy Brief No. 63
The Future of the Euro
March 01, 2001 This brief provides a detailed description of the Stability and Growth Pact, an agreement entered into by the member states of the European Union that has far-reaching implications for the...more Publication -
Working Paper No. 327
Part-year Operation in 19th Century American Manufacturing
March 01, 2001 Using unpublished data contained in samples from the manuscripts of the 1870 and 1880 censuses of manufactures—the earliest comprehensive estimates available—this study examines the extent and correlates of part-year manufacturing...more Publication -
Policy Note No. 2
Fiscal Policy for the Coming Recession
February 01, 2001 Growing government surpluses, a ballooning trade deficit, and the resulting growth in private sector debt have placed the United States’ economy in a precarious position. Papadimitriou and Wray agree with...more Publication -
Policy Note No. 1
Fiscal Policy to the Rescue
January 01, 2001 The United States’ economic expansion of the past eight years has been fueled by a rise in private sector indebtedness. In 1997 the private sector spending exceeded income for the...more Publication