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Working Paper No. 231The Hierarchy of Money
April 01, 1998 This paper attempts to bring together several of Hyman P. Minsky’s insights in order to suggest a relationship between the state’s ability to tax and the money of the economy....more Publication -
Policy Note No. 4Small Business and the New Welfare
April 01, 1998 To what extent have small businesses hired former welfare recipients and what might induce them to hire more? The Levy Institute conducts a national survey of small firms in many...more Publication -
Working Paper No. 230
The Romance of Assimilation?
March 01, 1998 Little research has been done on the role of intermarriage in the blending of peoples in the American past, and even less has been done on the effect of past...more Publication -
Policy Note No. 3
Small Business and the Minimum Wage
March 01, 1998 To what extent have small businesses hired former welfare recipients and what might induce them to hire more? Do small businesses change their hiring and employment practices in response to...more Publication -
Working Paper No. 229
E Pluribus Unum
March 01, 1998 Knowledge of English is near universal, and preference for that language is dominant among most immigrant nationalities. However, only a minority remain fluent in the parental languages, and there are...more Publication -
Working Paper No. 228
Education’s Hispanic Challenge
March 01, 1998 Two family characteristics are consistently associated with educational attainment: the level of education of parents and the material resources available to support the education of the children. Hispanic parents have...more Publication -
Working Paper No. 227
The Japanese Financial Crisis, Corporate Governance, and Sustainable Prosperity
March 01, 1998 Before the Japanese stock market crash of 1990, Japanese industry was a phenomenal success. A recent unemployment rate of under 4 percent, although low by world standards, is the highest...more Publication -
Working Paper No. 226
The Political Economy of Corporate Governance in Germany
February 01, 1998 Research Associate Mary O’Sullivan, of INSEAD and the Center for Industrial Competitiveness at the University of Massachusetts–Lowell, is investigating systems of corporate governance to find which lead to successful decisions...more Publication -
Policy Note No. 2
How Should the Surpluses Be Spent?
February 01, 1998 The federal budget deficit is disappearing; some shadows linger, but the latest Congressional Budget Office projections put the government budget in deficit by only $5 billion in fiscal year 1998,...more Publication -
Working Paper No. 225
The Development and Reform of the Modern International Financial System
January 01, 1998 The international financial system might be said to be in crisis. It requires frequent intervention by central banks and other national and international bodies to reduce fluctuations of currencies. It...more Publication -
Working Paper No. 224
The Diagnostic Imaging Equipment Industry
January 01, 1998 While diagnostic imaging equipment is not by any means a typical industry, it offers an example of a rapidly changing, high technology sector—the kind of industry in which, according to...more Publication -
Working Paper No. 223
The Kaleckian Analysis and the New Millennium
January 01, 1998 Visiting Scholar Malcolm Sawyer, of the University of Leeds, commemorates Michal Kalecki’s 100th birthday by considering how Kalecki’s macroeconomic analysis of developed capitalist economies should be adapted in light of...more Publication -
Working Paper No. 222
Money and Taxes
January 01, 1998 Senior Scholar L. Randall Wray traces the development of the chartalist approach to money from Adam Smith, Georg Friedrich Knapp, and John Maynard Keynes to the later theorists, including Hyman...more Publication -
Policy Note No. 1
Welfare Graduates
January 01, 1998 Are the effects of college-level education on income and financial independence positive enough to make it worthwhile for states to extend support to qualified welfare recipients to enable them to...more Publication -
Public Policy Brief No. 38Who Pays for Disinflation?
December 11, 1997 Using theoretical predictions, econometric results, and the example of the Volcker disinflation, Willem Thorbecke establishes that through disinflation’s burden on the durable goods and construction industries, small firms, and low-wage...more Publication -
Public Policy Brief No. 37
Investment in Innovation
December 10, 1997 Since the 1970s corporate America has become obsessed with shedding employees to cut costs and with distributing revenue to stockholders. However, the way for it to regain its competitive edge...more Publication -
Working Paper No. 218
Selective Use of Discretionary Public Employment and Economic Flexibility
December 01, 1997 Flexibility is a desirable feature of an economic system. Structural rigidities can result in sluggish growth and inflationary pressures; many economic models, however, display considerable system flexibility because of the...more Publication -
Working Paper No. 217
The Economic Contributions of Hyman Minsky
December 01, 1997 Financial economist Hyman P. Minsky believed that because there are many types of capitalism determined by circumstances and an evolving set of institutional structures, an abstract economic theory could not...more Publication -
Working Paper No. 221
Policy Innovation As a Discovery Procedure
December 01, 1997 Economist Adolph Lowe’s instrumental analysis examines the process of policy formulation as a regressive procedure of discovery. Taking as given a predetermined desired end state, the task of an innovator...more Publication -
Working Paper No. 220
Employment Policy, Community Development, and the Underclass
December 01, 1997 There has been widespread recognition of the existence of an “underclass” in American society, but no consensus on how to address the problem or even how to define it. The...more Publication -
Working Paper No. 219
Linking the Minimum Wage to Productivity
December 01, 1997 One of the principal problems with the minimum wage is that adjustments to it must be voted on by Congress. Although recent congressional action solves the immediate problem of restoring...more Publication -
Working Paper No. 210
The Effects of Immigrants on African-American Earnings
November 01, 1997 The improvement in the relative economic status of African American workers in the 1960s and 1970s was reversed in the 1980s. During that decade immigration to the United States reached...more Publication -
Working Paper No. 216
The Impact of Racial Segregation on the Education and Work Outcomes of Second-generation West Indians in New York City
November 01, 1997 Mary C. Waters, a professor of sociology at Harvard University, examines one way in which race matters in the United States by studying black children of immigrants in New York...more Publication -
Working Paper No. 215
Achievement and Ambition among Children of Immigrants in Southern California
November 01, 1997 The influx of immigrants to the United States after 1965 has reached levels not seen since the early part of the century. The ability of these recent immigrant groups and...more Publication