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Working Paper No. 213Government As Employer of Last Resort
November 01, 1997 Since the Employment Act of 1946 a stated policy of the United States government has been to pursue simultaneously high employment and stable prices. However, because many economists and policymakers...more Publication -
Working Paper No. 212
An Efficiency Argument for the Guaranteed Income
November 01, 1997 Authors Karl Widerquist and Michael A. Lewis use a “multischool” approach to poverty policy, asking the following question: Given the many proposed causes for poverty, and the conflicting theories about...more Publication -
Working Paper No. 211
Income Distribution, Macroeconomic Analysis, and Barriers to Full Employment
November 01, 1997 The distribution of income is conspicuous by its absence from most mainstream macroeconomic analysis. Visiting Scholar Malcolm Sawyer, of the University of Leeds, makes an effort to remedy this situation...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 -
Public Policy Brief No. 36Dangerous Metaphor: The Fiction of the Labor Market
October 09, 1997 The concept of a labor market, responding to familiar underpinnings of supply and demand, completely colors thought on the relationship between employment, wages, and inflation, according to James K. Galbraith....more Publication -
Public Policy Brief No. 35
Reflecting the Changing Face of America
October 08, 1997 On the United States’ census form, American citizens are told they may list any ethnic ancestries with which they identify, but are instructed to “mark one only” in the question...more Publication -
Working Paper No. 209
Cumulative Regional Decline, Institutional Inadequacy, and the “Democratic Deficit”
October 01, 1997 Publication -
Working Paper No. 208
On Budget Deficits and Capital Expenditure
October 01, 1997 No further information available. Publication -
Public Policy Brief No. 34
Safeguarding Social Security
September 07, 1997 The falling ratio of workers to retirees in the United States has raised concerns about Social Security’s ability to continue to provide a base level of support for all retired...more Publication -
Public Policy Brief No. 33
Is There a Trade-Off between Unemployment and Inequality?
August 06, 1997 Rebecca M. Blank considers how the flexibility of American labor markets and the regulation and redistribution policies of European labor markets may determine employers’ responses to worldwide economic transformations that...more Publication -
Public Policy Brief No. 32
What’s Missing from the Capital Gains Debate?
August 05, 1997 The recent enactment of a capital gains tax cut resulted, according to the authors, from the absence of a true appreciation or consideration of the real beneficiaries of such a...more Publication -
Working Paper No. 201
Organizational Learning and International Competition
August 01, 1997 Over the last three decades, despite economic growth, the United States has experienced both increasing relative inequality and an absolute decline of real wages. Explanations sometimes offered for this inability...more Publication -
Working Paper No. 200
Second Generations
August 01, 1997 This paper takes a doubting, though friendly, look at the hypotheses of “second generation deciine” and “segmented assimiiation” that have framed the emerging research agenda on the new second generation....more Publication -
Working Paper No. 207
Reasserting the Role of Keynesian Policies for the New Millennium
August 01, 1997 In this paper, Philip Arestis, of the University of East London, and Visiting Scholar Malcolm Sawyer, of the University of Leeds, assert the need for revived and revised Keynesian policies...more Publication -
Working Paper No. 206
Are Good Jobs Flying Away?
August 01, 1997 Aerospace, once the "crown jewel" of American manufacturing, is experiencing a structural decline characterized by a narrowing of the industry trade surplus, an increase in the foreign content of commercial...more Publication -
Working Paper No. 205
Macroeconomics without Equilibrium or Disequilibrium
August 01, 1997 Distinguished Scholar Wynne Godley creates a numerical simulation model that attempts a synthesis between the monetary theory of Hicks and Kaldor, the asset allocation theory of James Tobin, and the...more Publication -
Working Paper No. 204
The Growth in Work Time and the Implications for Macro Policy
August 01, 1997 In May 1997, the official unemployment rate was 4.8 percent—the lowest in 24 years. Not long ago, most economists would have considered such an unemployment record impossible to achieve without...more Publication -
Working Paper No. 203
The NAIRU
August 01, 1997 The nonaccelerating inflation rate of unemployment, or NAIRU, has acquired a central role in macroeconomic theory. Fear of inflation has led to a reluctance to allow the unemployment rate to...more Publication -
Working Paper No. 202
Aggregate Demand, Investment, and the NAIRU
August 01, 1997 The nonaccelerating inflation rate of unemployment, or NAIRU, is generally viewed as a supply-side-determined, short-run equilibrium rate of unemployment. In most NAIRU models, aggregate demand plays no essential role in...more Publication -
Working Paper No. 199
Good Jobs and the Cutting Edge
July 01, 1997 Good, stable jobs with high earnings started to disappear from the United States economy in the late 1970s. The loss of the majority of these jobs resulted from structural changes,...more Publication -
Working Paper No. 198
Earnings Inequality and the Quality of Jobs
July 01, 1997 The increase in earnings inequality in the United States is now a widely accepted fact that much economics literature has attempted to explain. Philip Moss, of the University of Massachusetts...more Publication -
Working Paper No. 197
Minimum Wage and Justice?
July 01, 1997 Opposition to the minimum wage, according to Resident Scholar Oren M. Levin-Waldman, ultimately rests on a popular political philosophy and a popular economic theory. The popular version of classical liberal...more Publication -
Working Paper No. 196
Skiki vono ko shtuvalo?
July 01, 1997 After the collapse of the Soviet bloc many of the transition economies experienced significant inflation, largely because their new monetary authorities and undeveloped tax infrastructure induced them to resort to...more Publication -
Working Paper No. 195
“Multiracials,†Racial Classification, and American Intermarriage—The Public’s Interest
June 01, 1997 How the census of 2000 is to count “multiracial” people is a hot topic in Washington. A federal task force presented a draft of its recommendations in July, and the...more Publication