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Working Paper No. 97Is Health Insurance Crippling the Labor Market?
While discussion about health care encompasses a wide array of issues—inadequate access, the growing share of national resources devoted to health care, the incidence of cost-shifting from the uninsured to the insured, and differences in premium costs between seemingly similar insured individuals—growing significance has been placed on how aspects of the current system may create […] -
Working Paper No. 96
Mortgage Default among Rural, Low Income Borrowers
In this working paper, Quercia, McCarthy, and Stegman use data obtained on 874 low income, rural borrowers participating in the Section 502 Home Ownership program administered by the Farmer’s Home Administration (FmHA), and apply two multivariate proportional hazard models in order to analyze default decisions among these borrowers over time. The authors cite two key […] -
Public Policy Brief No. 7Immigration Policy: A Tool of Labor Economics?
Vernon M. Briggs argues that, while mass immigration in the past was consistent with then-existing labor market needs, today it is incompatible with the nation’s economic development trends and labor force requirements. He concludes that it is important to shift the emphasis of the legal immigration admission system away from the politically popular family reunification […] -
Working Paper No. 95
The Community Reinvestment Act, Lending Discrimination, and the Role of Community Development Banks
The Community Development Banks (CDBs) should not be seen as a substitute for the Community Reinvestment Act (CRA) or for other programs designed to revitalize lower income areas. Rather, they should be seen as a complement for existing programs and for other programs that will be proposed by the Clinton administration. As discussed above, the […] -
Working Paper No. 94
Productivity, Private and Public Capital, and Real Wage in the United States, 1948–1990
No further information available. -
Working Paper No. 93
Finance and Stability
Once again the United States economy is facing a crisis, resolution of which first requires the realization that there are many types of capitalism: Solutions implemented in the past, therefore, may or may not be an appropriate solution today, as they could have been implemented as an answer to a problem posed within the context […] -
Working Paper No. 92
The Current State of Banking Reform
Banking reform has always been a part of the political agenda, although policy tends to focus on the specific concerns of the public at the time of crisis; as times (and crises) change, so does the direction of public policy. The result has often been that change instituted in answer to one crisis has precipitated […] -
Public Policy Brief No. 6
A Path to Community Development
The establishment of a system of federally regulated, for-profit community development banks (CDBs) would help to fill the financial gap in areas inadequately served by traditional banks, requirements of the Community Reinvestment Act (CRA) notwithstanding. These organizations would be charged with delivering credit, payment, and savings opportunities and providing basic financing to households and small […] -
Public Policy Brief No. 6
A Path to Community Development
Η δημιουργία ενός εθνικού συστήματος τραπεζών κοινοτικής ανάπτυξης θα βοηθούσε να καλυφθεί το χρηματοδοτικό κενό σε περιοχές που δεν εξυπηρετούνται επαρκώς από τις παραδοσιακές τράπεζες παρά τις απαιτήσεις της Πράξης Κοινοτικής Επανεπένδυσης (CRA). Οι οργανισμοί αυτοί θα είχαν την ευθύνη να προσφέρουν πίστωση, υπηρεσίες πληρωμών και αποταμίευσης καθώς και βασική δανειοδότηση σε νοικοκυριά και μικρές […] -
Public Policy Brief No. 5
The Limits of Prudential Supervision
According to Bernard Shull, although the recent round of banking legislation—most notably the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) and the Federal Deposit Insurance Corporation Improvement Act (FDICIA)—did take steps toward preventing financial crises, it did not go far enough in the area of unifying the regulatory structure. Shull proposes unifying federal bank […] -
Working Paper No. 91
A Comparison of Proposals to Restructure the US Financial System
This paper illustrates the potential for risk diversification through the common ownership of a hypothetical bank and nonbanking firm. The illustration has several implications for proposals for restructuring the financial system. Banks are not necessarily made safer by requiring that all nonbanking activities be conducted through separate subsidiaries. On the contrary, banks may be less […] -
Working Paper No. 90
Narrow Banks
Recent banking problems have prompted a variety of proposals for reforming deposit insurance and the banking system. Nearly all of these proposals, however, suffer from a common flaw—they would fail to create a banking system that is both stable and free to respond to market forces and financial developments. Narrow banking offers a possible means […]