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Working Paper No. 581Lessons from the New Deal
October 14, 2009 Since the current recession began in December 2007, New Deal legislation and its effectiveness have been at the center of a lively debate in Washington. This paper emphasizes some key...more Publication -
Working Paper No. 580
An Alternative View of Finance, Saving, Deficits, and Liquidity
October 13, 2009 This paper contrasts the orthodox approach with an alternative view on finance, saving, deficits, and liquidity. The conventional view on the cause of the current global financial crisis points first...more Publication -
Working Paper No. 579
A Perspective on Minsky Moments
October 12, 2009 This paper aims to help bridge the gap between theory and fact regarding the so-called “Minsky moments” by revisiting the “financial instability hypothesis” (FIH). We limit the analysis to the...more Publication -
Policy Note No. 9Banks Running Wild: The Subversion of Insurance by “Life Settlements” and Credit Default Swaps
October 05, 2009 Oblivious to any lessons that might have been learned from the global financial mess it has created, Wall Street is looking for the next asset bubble. Perhaps in the market...more Publication -
Working Paper No. 578
Money Manager Capitalism and the Global Financial Crisis
September 24, 2009 This paper applies Hyman Minsky’s approach to provide an analysis of the causes of the global financial crisis. Rather than finding the origins in recent developments, this paper links the...more Publication -
Working Paper No. 577
Explaining the Gender Wage Gap in Georgia
September 21, 2009 This paper evaluates gender wage differentials in Georgia between 2000 and 2004. Using ordinary least squares, we find that the gender wage gap in Georgia is substantially higher than in...more Publication -
Working Paper No. 576
A Financial Sector Balance Approach and the Cyclical Dynamics of the US Economy
September 09, 2009 This paper investigates the relationship between asset markets and business cycles with regard to the US economy. We consider the Goldman Sachs approach (2003) developed to study the dynamics of...more Publication -
Working Paper No. 575
Market Failure and Land Concentration
August 30, 2009 Utilizing a 2002 household-level World Bank Survey for rural Turkey, this paper explores the link between concentration of land ownership and rural factor markets. We construct a unique index that...more Publication -
Public Policy Brief No. 104The New New Deal Fracas
August 28, 2009 A wave of revisionist work claims that “anticompetitive” New Deal legislation such as the National Industrial Recovery Act (NIRA) and the National Labor Relations Act (NLRA) greatly slowed the recovery...more Publication -
Public Policy Brief No. 103
Financial and Monetary Issues as the Crisis Unfolds
August 21, 2009 A group of experts associated with the Economists for Peace and Security and the Initiative for Rethinking the Economy met recently in Paris to discuss financial and monetary issues; their...more Publication -
Public Policy Brief No. 102
The Global Crisis and the Implications for Developing Countries and the BRICs
August 20, 2009 The term BRIC was first coined by Goldman Sachs and refers to the fast-growing developing economies of Brazil, Russia, India, and China–a class of middle-income emerging market economies of relatively...more Publication -
Working Paper No. 574
A Critical Assessment of Seven Reports on Financial Reform: A Minskyan Perspective, Part IV
August 19, 2009 This four-part study is a critical analysis of several reports dealing with the reform of the financial system in the United States. The study uses Minsky’s framework of analysis and...more Publication -
Working Paper No. 574
A Critical Assessment of Seven Reports on Financial Reform: A Minskyan Perspective, Part III
August 18, 2009 This four-part study is a critical analysis of several reports dealing with the reform of the financial system in the United States. The study uses Minsky’s framework of analysis and...more Publication -
Working Paper No. 574
A Critical Assessment of Seven Reports on Financial Reform: A Minskyan Perspective, Part II
August 17, 2009 This four-part study is a critical analysis of several reports dealing with the reform of the financial system in the United States. The study uses Minsky’s framework of analysis and...more Publication -
Working Paper No. 574
A Critical Assessment of Seven Reports on Financial Reform: A Minskyan Perspective, Part I
August 16, 2009 This four-part study is a critical analysis of several reports dealing with the reform of the financial system in the United States. The study uses Minsky’s framework of analysis and...more Publication -
Working Paper No. 573
Securitization, Deregulation, Economic Stability, and Financial Crisis, Part II
August 15, 2009 This study analyzes the trends in the financial sector over the past 30 years, and argues that unsupervised financial innovations and lenient government regulation are at the root of the...more Publication -
Working Paper No. 573
Securitization, Deregulation, Economic Stability, and Financial Crisis, Part I
August 14, 2009 This study analyzes the trends in the financial sector over the past 30 years, and argues that unsupervised financial innovations and lenient government regulation are at the root of the...more Publication -
Working Paper No. 572
The Unequal Burden of Poverty on Time Use
August 13, 2009 This study uses the first time-use survey carried out in South Africa (2000) to examine women’s and men’s time use, with a focus on the impacts of income poverty. We...more Publication -
Working Paper No. 571
How Well Do Individuals Predict the Selling Prices of Their Homes?
August 11, 2009 Self-reported home values are widely used as a measure of housing wealth by researchers; the accuracy of this measure, however, is an open empirical question, and requires some type...more Publication -
Working Paper No. 570
From Unpaid to Paid Care Work
July 23, 2009 This paper considers public employment guarantee programs in the context of South Africa as a means to address the nexus of poverty, unemployment, and unpaid work burdens—all factors exacerbated by...more Publication -
Policy Note
Special Report: Who Gains from President Obama’s Stimulus Package … And How Much?
June 16, 2009 In this Special Report, Levy scholars Ajit Zacharias, Thomas Masterson, and Kijong Kim provide a preliminary assessment of the 2009 American Recovery and Reinvestment Act (ARRA), a package of transfers...more Publication -
Working Paper No. 569
Fiscal Policy and the Economics of Financial Balances
June 15, 2009 This paper presents the main features of the macroeconomic model being used at The Levy Economics Institute of Bard College, which has proven to be a useful tool in tracking...more Publication -
Public Policy Brief No. 101
Promoting Gender Equality through Stimulus Packages and Public Job Creation
June 09, 2009 Beyond loss of income, joblessness is associated with greater poverty, marginalization, and social exclusion; the current global crisis is clearly not helping. In this new Public Policy Brief, Research Scholar...more Publication -
Working Paper No. 568
Distributional Impact of the American Recovery and Reinvestment Act
June 04, 2009 Over the last two decades, those at the bottom of the income scale have seen their incomes stagnate, while those at the top have seen theirs skyrocket; without intervention, the...more Publication