Filter by
3511 results found
-
Working Paper No. 535Statistical Matching Using Propensity Scores
May 13, 2008 This paper summarizes the background, type, logic, and working procedure of the statistical matching used in the Levy Institute Measure of Economic Well-Being (LIMEW) project to combine the various data...more Publication -
Working Paper No. 534
Argentina: A Case Study on the Plan Jefes y Jefas de Hogar Desocupados, or the Employment Road to Economic Recovery
May 08, 2008 After the 2001 crisis, Argentina—once the poster-child for pro-market structural-adjustment policies—had to define a new strategy in order to manage the societal demands that had led to the fall of...more Publication -
Working Paper No. 533
The Discrete Charm of the Washington Consensus
April 29, 2008 Over the last two centuries in Latin America a Washington Consensus development strategy based on integration in the global trading system has dominated both domestic demand management and industrialization "from...more Publication -
Working Paper No. 532
Old Wine in a New Bottle: Subprime Mortgage Crisis—Causes and Consequences
April 28, 2008 This paper seeks to explain the causes and consequences of the United States subprime mortgage crisis, and how this crisis has led to a generalized credit crunch in other financial...more Publication -
Working Paper No. 531
The International Monetary (Non-)Order and the “Global Capital Flows Paradox”
April 23, 2008 This paper sets out to investigate the forces behind the so-called “global capital flows paradox” and related “dollar glut” observed in the era of advancing financial globalization. The supposed paradox...more Publication -
Working Paper No. 530
Changes in the US Financial System and the Subprime Crisis
April 14, 2008 This paper traces the evolution of housing finance in the United States from the deregulation of the financial system in the 1970s to the breakdown of the savings and loan...more Publication -
Strategic AnalysisFiscal Stimulus—Is More Needed?
April 09, 2008 As the government prepares to dispense the tax rebates that largely make up its recently approved $168 billion stimulus package, President Dimitri B. Papadimitriou and Research Scholars Greg Hannsgen and...more Publication -
Public Policy Brief No. 94Financial Markets Meltdown
April 01, 2008 In this new Public Policy Brief, Senior Scholar L. Randall Wray explains today’s complex and fragile financial system, and how the seeds of crisis were sown by lax oversight, deregulation,...more Publication -
Working Paper No. 529
Can Robbery and Other Theft Help Explain the Textbook Currency-demand Puzzle?
March 06, 2008 This paper attempts to explain one version of an empirical puzzle noted by Mankiw (2003): a Baumol-Tobin inventory-theoretic money demand equation predicts that the average adult American should have held...more Publication -
Working Paper No. 528
Financial Flows and International Imbalances
February 18, 2008 While the traditional approach to the adjustment of international imbalances assumes industrialized countries at a similar level of development and with similar production structures, such imbalances have historically been the...more Publication -
Working Paper No. 527
Financing Job Guarantee Schemes by Oil Revenue
January 25, 2008 Iran’s constitution emphasizes social justice and obliges government to provide a job for every citizen. But in fact, the government’s duty to provide jobs has shifted to government support for...more Publication -
Public Policy Brief No. 93
Minsky’s Cushions of Safety
January 08, 2008 In this brief, Senior Scholar Jan Kregel reviews Hyman P. Minsky’s concept of financial fragility—in short, that the structure of a capitalist economy becomes more fragile over a period of...more Publication -
Research Project Report No. 34Joint Project of UNDP and Levy Institute on Public Employment
January 02, 2008 Joint UNDP—Levy Institute Study Focuses on Employment Guarantee Strategies The recent financial turmoil has brought with it worldwide acceptance of the fact that, when markets fail, government intervention is indispensable....more Publication -
Working Paper No. 526
American Jewish Opinion about the Future of the West Bank
December 21, 2007 American Jewish opinion about the Arab-Israel conflict matters for both American and Israeli politics as well as for American Jewish life. This paper undertakes an analysis of that opinion based...more Publication -
Working Paper No. 525
Financialization
December 20, 2007 Financialization is a process whereby financial markets, financial institutions, and financial elites gain greater influence over economic policy and economic outcomes. Financialization transforms the functioning of economic systems at both...more Publication -
Working Paper No. 524
Promotion Nationale
December 19, 2007 Created in 1961, Promotion Nationale (PN) is an autonomous public entity in charge of mobilizing an underemployed or unemployed workforce for the implementation of labor-intensive projects, calling upon a simple...more Publication -
Working Paper No. 523
The Natural Instability of Financial Markets
December 13, 2007 This paper contrasts the economic incentives implicit in the Keynes-Minsky approach to inherent financial market instability with the incentives behind the traditional equilibrium approach leading to market stability to provide...more Publication -
Working Paper No. 522
Lessons from the Subprime Meltdown
December 10, 2007 This paper uses Hyman P. Minsky’s approach to analyze the current international financial crisis, which was initiated by problems in the American real estate market. In a 1987 manuscript, Minsky...more Publication -
Strategic Analysis
The US Economy: Is There a Way Out of the Woods?
November 30, 2007 In their latest Strategic Analysis, Distinguished Scholar Wynne Godley, President Dimitri B. Papadimitriou, and Research Scholars Greg Hannsgen and Gennaro Zezza review recent events in the housing and financial markets...more Publication -
Working Paper No. 521
Earnings Functions and the Measurement of the Determinants of Wage Dispersion
November 29, 2007 This paper extends the famous Blinder and Oaxaca (1973) discrimination in several directions. First, the wage difference breakdown is not limited to two groups. Second, a decomposition technique is proposed...more Publication -
Working Paper No. 520
Nurkse and the Role of Finance in Development Economics
November 14, 2007 Ragnar Nurkse was one the pioneers in development economics. This paper celebrates the hundredth anniversary of his birth with a critical retrospective of his overall contribution to the field, in...more Publication -
Working Paper No. 519
Public Employment and Women
November 09, 2007 In 2002, Argentina implemented a large-scale public employment program to deal with the latest economic crisis and the ensuing massive unemployment and poverty. The program, known as Plan Jefes, offered...more Publication -
Public Policy Brief No. 92
The US Credit Crunch of 2007
October 26, 2007 It is now clear that most economists underestimated the widening economic impact of the credit crunch that has shaken American financial markets since at least mid-July. A credit crunch is...more Publication -
Working Paper No. 518
Fiscal Deficit, Capital Formation, and Crowding Out in India
October 25, 2007 This paper analyzes the real (direct) and financial crowding out in India between 1970–71 and 2002–03. Using an asymmetric vector autoregressive (VAR) model, the paper finds no real crowding out...more Publication