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Public Policy Brief No. 2An Economic Assessment: Contained Depression or the Foothills of Recovery?
September 10, 1992 Robert Barbera and David A. Levy offer contrasting assessments of the United States’ economy during the late 1980s and early 1990s. Barbera suggests that the behavior of the economy was...more Publication -
Working Paper No. 80Growth and Structural Change in China-US Trade
September 09, 1992 Since the resumption of China-U.S. trade in 1972, and in particular since the establishment of diplomatic relations in early 1979, trade between the two countries has increased dramatically. By 1990,...more Publication -
Working Paper No. 79
The Investment Decision of the Post Keynesian Firm
September 04, 1992 In this paper, Crotty and Goldstein undertake the formulation of a model of enterprise investment decision that can provide a microeconomic foundation for the Keynes-Minsky macromodels developed by Delli Gatti...more Publication -
Working Paper No. 78
The Predication Semantics Model
August 10, 1992 This paper presents and tests the predication semantics model, a computational model of text comprehension. It goes beyond previous case grammar approaches to text comprehension in employing a propositional rather...more Publication -
Working Paper No. 77
Credit Markets and Narrow Banking
July 10, 1992 Maurice Allais’s view that the credit created by fractional reserve banking is equivalent to counterfeiting has led him to recommend the separation of the depository and lending functions of banks....more Publication -
Public Policy Brief No. 1
Restructuring the Financial Structure
July 02, 1992 To avoid excessive concentration of economic and financial power, Athony M. Solomon recommends institutional and regulatory reform of the financial system by such means as nationwide banking, restrictions on federal...more Publication -
Working Paper No. 76
The “Chicago Plan” and New Deal Banking Reform
June 10, 1992 During the 1930s, there were numerous proposals put forth to modify the financial system. The “Chicago Plan,” submitted in 1933 by economists at the University of Chicago, recommended abolition of...more Publication -
Working Paper No. 75
The Role of Unemployment in Triggering Internal Labor Migration
June 01, 1992 George McCarthy’s paper explores the internal migration of labor in response to structural changes in the U.S. economy. He presents an empirical study of the relationship between wage determination and...more Publication -
Working Paper No. 74
The Financial Instability Hypothesis
May 10, 1992 The Financial Instability Hypothesis (FIH) has both empirical and theoretical aspects that challenge the classic precepts of Smith and Walras, who implied that the economy can be best understood by...more Publication -
Working Paper No. 73
Money, Growth, Distribution, and Prices in a Simple Sraffian Economy
May 01, 1992 Rejecting neoclassical notions of supply and demand, Sraffa demonstrated that relative prices are determined by the profit rate. However, a Sraffa model fails to explicitly describe the determination of output,...more Publication -
Working Paper No. 72
The Capital Development of the Economy and the Structure of Financial Institutions
January 11, 1992 This paper evolves from the sharp contrast in Smithian and Keynesian views about the relationship between the financial structure and the economy. The Smithian perspective implies that the financial structure...more Publication -
Working Paper No. 71
Macroeconomic Market Incentive Plans
January 10, 1992 This paper explores the contemporary debate among economists on the means to move the economy toward high employment without inflation-beyond the traditional instruments of monetary and fiscal policy. The authors...more Publication -
Working Paper No. 70
The Distributional Implications of the Tax Changes in the 1980s
January 09, 1992 This paper studies changes in the United States as a consequence of the Economic Recovery Act of 1981 (ERITA), the Tax Equality and Fiscal Responsibility Act of 1982 (TEFRA), and...more Publication -
Working Paper No. 69
Reconstituting the United States’ Financial Structure
January 08, 1992 Deposit insurance, the savings and loan industry, facets of the insurance industry, and a significant number of private banks have all been plagued by recent collapse. The legislative agenda goes...more Publication -
Working Paper No. 68
Transfer and Life Cycle Wealth in Japan, 1974–1984
January 01, 1992 This paper measures, via the cumulation of life cycle saving method, the contribution of transfer to total wealth accumulation among worker households from 1974 to 1984. The findings suggest that...more Publication -
Working Paper No. 67
Employment Restructuring and the Labor Market Status of Young Black Men in the 1980s
December 10, 1991 The decline in the employment status of young black men relative to their white peers in the post-1970 U.S. Labor market is the impetus for this research. This paper examines...more Publication -
Working Paper No. 66
The Transition to a Market Economy
November 10, 1991 The social transformation of Eastern Europe has proceeded much faster, and the destruction of communism’s legitimacy and efficacy has been more complete, than was deemed possible even a few years...more Publication -
Working Paper No. 65
A Package of Policies to Permanently Increase Output without Inflation
November 08, 1991 Economists have searched for policies that concurrently establish full employment with stable prices and high output. The supply side theorists of the 1980s claimed they could produce increased output with...more Publication -
Working Paper No. 64
Market Processes and Thwarting Systems
November 06, 1991 This paper suggests that there are two longstanding views on business cycles and economic dynamics: One emphasizes endogenous stability plus exogenous disturbances, while the other focuses on endogenous instability plus...more Publication -
Working Paper No. 63
Wealth Accumulation of the Elderly in Extended Families in Japan and the Distribution of Wealth within Japanese Cohorts by Household Composition
September 10, 1991 This paper is a critique of the literature on transfer wealth accumulation in Japan during the postwar period. The emphasis is on selected works in two areas that are closely...more Publication -
Working Paper No. 62
The Changing Contributions of Men and Women to the Level and Distribution of Family Income, 1968–1988
July 10, 1991 In the past twenty years, the labor force participation and earnings of women, especially married women, have risen dramatically. Over the same period, men’s earnings have increased only modestly, and...more Publication -
Working Paper No. 61
Changes in Earnings Differentials in the 1980s
July 09, 1991 This paper analyzes changes in U.S. earnings differentials in the 1980s between race, gender, age, and schooling groups. There are four main sets of results to report. First, the economic...more Publication -
Working Paper No. 60
Who Are the Truly Poor?
July 08, 1991 In this paper we study changes in the prevalence and composition of poverty in the United States over the 1973–1988 period, focusing on the first and last years. Over this...more Publication -
Working Paper No. 59
The Health, Earnings Capacity, and Poverty of Single-mother Families
July 07, 1991 Approximately 1.4 million single mothers have substantial health problems. Even if they were to work full time, they would be unlikely to earn enough to adequately provide for themselves and...more Publication