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Working Paper No. 58Social Security Annuities and Transfers
July 06, 1991 The division of social security (OASI) benefits into an annuity portion and a transfer portion has been well documented. I have discussed this issue extensively in previous work (1987b, 1988,...more Publication -
Working Paper No. 57
Why Were Poverty Rates So High in the 1980s?
July 05, 1991 This paper explores the unexpectedly slow decline in poverty that occurred over the expansion of the 1980s. We present evidence on the "stickiness" in the poverty rate in the past...more Publication -
Working Paper No. 56
W(h)ither the Middle Class?
July 04, 1991 Research using cross-sectional survey ‘snapshots’ of household income taken over the past quarter century reveals a growing inequality in the distribution of annual money income of households in the United...more Publication -
Working Paper No. 55
The Measurement of Chronic and Transitory Poverty; with Application to the United States
June 10, 1991 This paper proposes a method of measuring chronic and transitory poverty based on any additively-decomposable index of aggregate poverty. Chronic poverty and transitory poverty in the United States are measured...more Publication -
Working Paper No. 54
Why the Ex-Communist Countries Should Take the “Middle Way” to the Market Economy
June 09, 1991 The ex-communist countries of Europe as well as Soviet Union want to find a way out of the command economy to a market system. The common advice (e.g., Lipton and...more Publication -
Working Paper No. 53
A Critical Analysis of Empirical Studies of Transfers in Japan
May 10, 1991 No further information available. Publication -
Working Paper No. 52
Debt, Price Flexibility, and Aggregate Stability
April 10, 1991 In conventional macroeconomic thought, price flexibility stabilizes thc economy. The more quickly prices fall (or inflation decreases) in a demand-induced recession, the faster output returns to its full-employment level. An...more Publication -
Working Paper No. 51
Financial Crises
April 09, 1991 The presentations at this conference are by economists from Academies and economists who professionally confront real world problems, either in private finance or in public policy. As economists we accept...more Publication -
Working Paper No. 50
How Useful Are Comparisons of Present Debt Problems with the 1930s?
April 08, 1991 My assignment for this Conference on the Crisis ln Finance, as I understand is, is in the first instance to bring to bear the debt experience of the Great Depression...more Publication -
Working Paper No. 49
The Role of Banks Where Service Replication Has Eroded Institutional Franchises
April 07, 1991 Over the past decade forces of competition and adverse economic conditions—combined with regulatory forbearance and the moral hazards generated thereby—have contributed to severe erosion of bank profitability and a mounting...more Publication -
Working Paper No. 48
The Economic Significance of Equity Capital
April 06, 1991 I was motivated to address this subject by the rich irony of last year’s Nobel Prize in Economics. The end of the LBO era was crowned by the recognition of...more Publication -
Working Paper No. 47
Financial Disturbances and Depressions
April 05, 1991 Events of the past quarter century have renewed the interest of economic historians in major financial disturbances. The study of financial crises was common before World War II, but for...more Publication -
Working Paper No. 46
Redistribution through Taxation
April 04, 1991 Income tax progressivity is studied using Generalized Entropy measures of inequality. Luxembourg Income Study data sets for ten countries are used for international comparative purposes and analysis. Progressivity indices are...more Publication -
Working Paper No. 45
Female-headed Families
March 01, 1991 Over the last few decades in the United States, the poverty rate for female-headed families (with no husband present) has been about three times the poverty rate for male-headed families...more Publication -
Working Paper No. 44
Accounting for the Decline in Private Sector Unionization
February 01, 1991 During the 1980s several qualitative changes occurred in the union decline. First, net gains from certification (less decertification) elections fell to insignificant levels, tending to accelerate the union decline. On...more Publication -
Working Paper No. 43
International Comparison of Household Inequalities
December 10, 1990 This paper demonstrates the usefulness of the decomposability property of the Generalized Entropy (GE) family of measures in comparing inequality among countries. A family of Generalized Entropy measures are decomposed...more Publication -
Working Paper No. 42
Poverty and Choice of Marital Status
December 09, 1990 Over the last few decades in the United States, the poverty rate for female-headed families has been about five times the poverty rate for other family types. This paper addresses...more Publication -
Working Paper No. 41
Generalized Entropy Measures of Long-run Inequality and Stability among Male Headed Households
December 09, 1990 Short and long-run inequalities and income stability among households with male heads are measured and analyzed using the Panel Study of Income Dynamics for 1969–81. The results suggest short-run inequalities...more Publication -
Working Paper No. 40
A Kernel Regression of Phillips’ Data
November 10, 1990 Economists have assumed that the Phillips curve, which shows a positive (negative) relation between inflation and the output ratio (unemployment rate), may be mapped off the aggregate demand -aggregate supply...more Publication -
Working Paper No. 39
Poverty and Household Composition
November 09, 1990 This paper has investigated the relationship between poverty and family type, as reflected in the marital status and gender of the head of the family number of factors have been...more Publication -
Working Paper No. 38
The Mathematics of Economic Growth
July 10, 1990 Traditionally, economists have considered that mathematics acts as a universal language that lends clarity to theoretical statements. This paper proposes that mathematics does not function as a mere language. Rather,...more Publication -
Working Paper No. 37
What Happened to the Corporate Profit Tax?
May 10, 1990 The radical reorientation of the federal budget during the 1980s provided generously for military expansion at the expense of pressing social needs. In the wake of such dramatic upheavals, the...more Publication -
Working Paper No. 36
The Microeconomics of Monopoly Power
April 10, 1990 The purpose of this paper is to outline a consistent microeconomic theory of the firm based on the concept of monopoly power. It builds on the heritage of Post Keynesian...more Publication -
Working Paper No. 35
Industrial De-diversification and Its Consequences for Productivity
January 10, 1990 Due in large part to intense takeover activity during the 1980s, the extent of American firms’ industrial diversification declined significantly during the second half of the decade. The mean number...more Publication