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Working Paper No. 496Gender Disparities in Employment and Aggregate Profitability in the United States
May 01, 2007 We explore the relationships between aggregate profitability and women’s growing share of market work in the United States during the 1980s and 1990s. Using decomposition analysis and counterfactuals, we investigate...more Publication -
Strategic AnalysisThe US Economy: What’s Next?
April 30, 2007 The collapse in the subprime mortgage market, along with multiple signals of distress in the broader housing market, has already drawn forth a large body of comment. Some people think...more Publication -
Research Project ReportHow Well Off Are America’s Elderly?
April 30, 2007 Given the aging of the American population and the widening gap between rich and poor—not to mention the controversy surrounding the future viability of Social Security—the economic welfare of the...more Publication -
Working Paper No. 495
Gender Inequalities in Allocating Time to Paid and Unpaid Work
April 30, 2007 This working paper analyzes paid and unpaid work-time inequalities among Bolivian urban adults using time use data from a 2001 household survey. We identified a gender-based division of labor characterized...more Publication -
Working Paper No. 494
Fiscal Policy in a Stock-flow Consistent (SFC) Model
April 29, 2007 This paper deploys a simple stock-flow consistent (SFC) model in order to examine various contentions regarding fiscal and monetary policy. It follows from the model that if the fiscal stance...more Publication -
Working Paper No. 493
State, Difference, and Diversity
March 21, 2007 Should the state treat men and women in identical ways, or should it legislate and enforce policies that are aware of gender differences? In other words, should the state be...more Publication -
Working Paper No. 492
Are the Costs of the Business Cycle “Trivially Small”?
March 02, 2007 In his presidential address to the American Economic Association, Robert Lucas claimed that the welfare costs of the business cycle in the United States equaled .05 percent of consumption. His...more Publication -
Working Paper No. 491
Land Rental and Sales Markets in Paraguay
February 22, 2007 This paper examines the claim that the land rental market can be an effective means of redistributing access to, if not ownership of, land to the rural poor, using Paraguay...more Publication -
Working Paper No. 490
Productivity, Technical Efficiency, and Farm Size in Paraguayan Agriculture
February 21, 2007 This essay assesses the relationship between farm size and productivity. Both parametric and nonparametric methods are used to derive efficiency measures. Smaller farms are found to have higher net farm...more Publication -
Working Paper No. 489
Fixed and Flexible Exchange Rates and Currency Sovereignty
January 31, 2007 This paper provides an analysis of Keynes’s original “Bancor” proposal as well as more recent proposals for fixed exchange rates. We argue that these schemes fail to pay due attention...more Publication -
Public Policy Brief No. 89The Economics of Outsourcing
January 31, 2007 According to Research Associate Thomas I. Palley, global outsourcing represents a new economic challenge that calls for a new set of institutions. In this brief, he expands upon the problems...more Publication -
Working Paper No. 488
Demand Constraints and Big Government
January 23, 2007 In a series of articles and books, Harold Vatter and John Walker attempted to make the case that the American economy suffers from chronically insufficient demand that leads to growth...more Publication -
Working Paper No. 487
Class Structure and Economic Inequality
January 09, 2007 Existing empirical schemas of class structure do not specify the capitalist class in an adequate manner. We propose a schema in which the specification of capitalist households is based on...more Publication -
Policy Note No. 1The April AMT Shock
January 07, 2007 Anyone who reads a newspaper knows that most Americans have accumulated excessive levels of debt, and realizes that as interest rates climb, it becomes more difficult to service financial liabilities....more Publication -
Working Paper No. 486
Global Imbalances, Bretton Woods II, and Euroland’s Role in All This
December 21, 2006 Approaching the issue of mounting global imbalances from the perspective of the "Bretton Woods II hypothesis," this paper argues that the popular preoccupation with China’s supposed export-led development strategy is...more Publication -
Working Paper No. 485
The Balance Sheet Approach to Financial Crises in Emerging Markets
December 14, 2006 This paper contrasts the conventional balance sheet approach to the analysis of economic disturbances in emerging markets with the alternative balance sheet approach that applies and extends Minsky’s Financial Instability...more Publication -
Working Paper No. 484
Expensive Living
December 12, 2006 Apart from its widely accepted direct advantages, the introduction of the euro has been accompanied by a surge of inflation in most of the EU member states. At the same...more Publication -
Research Project Report
Wealth and Economic Inequality
December 04, 2006 This report argues that wealth is an integral aspect of economic well-being. The authors combine income and net worth to demonstrate the importance of wealth inequalities in shaping overall economic...more Publication -
Public Policy Brief No. 88
US Household Deficit Spending
November 30, 2006 Over the past decade, deficit spending by consumers has supported the United States economy. Research Associate Robert Parenteau analyzes the financial balance of American households and finds that the pace...more Publication -
Working Paper No. 483
Fisher’s Theory of Interest Rates and the Notion of “Real”
November 30, 2006 By providing five different criticisms of the notion of real rate, the paper argues that this concept, as Fisher defined it or as a definition, is not relevant to economic...more Publication -
Public Policy Brief No. 87
Maastricht 2042 and the Fate of Europe
November 29, 2006 Unemployment in the European Union (EU) is a serious problem that threatens to disrupt the integration of accession countries, the character of individual countries, and the continued existence of the...more Publication -
Working Paper No. 482
Net Intergenerational Transfers from an Increase in Social Security Benefits
November 29, 2006 When the age of death is uncertain, individuals will leave bequests–even if they have no desired bequests–simply because they will hold wealth against the possibility of living longer. Bequests are...more Publication -
Working Paper No. 481
An Inquiry into the Nature of Money
November 28, 2006 The paper argues that the functional approach of money does not provide a good method to study monetary history and monetary mechanisms. An alternative approach is developed and illustrated by...more Publication -
Working Paper No. 480
Methodology and Microeconomics in the Early Work of Hyman P. Minsky
November 27, 2006 This paper reviews the recently published doctoral thesis of Hyman P. Minsky, summarizing its main contributions to methodology and microeconomics. These were aspects of economics with which Minsky is not...more Publication