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Working Paper No. 440Parental Child Care in Single Parent, Cohabiting, and Married Couple Families
February 17, 2006 This study uses time diary data from the 2003 American Time Use Survey and the United Kingdom Time Use Survey 2000 to examine the time that single, cohabiting, and married...more Publication -
Working Paper No. 439
Where Do They Find the Time?
February 16, 2006 Parents who undertake paid work are obliged to spend time away from their children, and to use nonparental childcare. This has given rise to concern that children are missing out...more Publication -
Policy Note No. 1Credit Derivatives and Financial Fragility
January 17, 2006 On September 15, the Federal Reserve convened 14 large credit derivatives–dealer banks to an unusual meeting. The last such meeting occurred on September 16, 1998, in secret. At that time,...more Publication -
Working Paper No. 438
Keynes’s Approach to Money
January 17, 2006 This paper first examines two approaches to money adopted by John Maynard Keynes in his General Theory (GT). The first is the more familiar “supply and demand” equilibrium approach of...more Publication -
Public Policy Brief No. 83Reforming Deposit Insurance
January 17, 2006 The Federal Deposit Insurance Corporation (FDIC) currently insures bank deposit balances up to $100,000. According to some observers, statutory protection creates moral hazard problems for insurers because it allows banks...more Publication -
Working Paper No. 437
Enhancing Livelihood Security through the National Employment Guarantee Act
January 16, 2006 The National Rural Employment Guarantee Act of 2005 is a major development in the history of poverty reduction strategies and rural development policies in India. Though the successful passage of...more Publication -
Working Paper No. 436
Importing Equality or Exporting Jobs?
January 15, 2006 This study investigates the impact of increased import competition on gender wage and employment differentials in American manufacturing over the period from 1976 to 1993. Increased import competition is expected...more Publication -
Working Paper No. 435
Speculation, Liquidity Preference, and Monetary Circulation
January 14, 2006 The sharp exchanges that Keynes had with some of his critics on the loanable funds theory made it harder to appreciate the degree to which his thought was continuous with...more Publication -
Working Paper No. 434
Time to Eat
January 13, 2006 Eating requires the raw food materials that make up meals and also the time devoted to buying food, preparing meals and eating them, and cleaning up afterwards. Using time-diary and...more Publication -
Strategic AnalysisAre Housing Prices, Household Debt, and Growth Sustainable?
January 01, 2006 Rising home prices and low interest rates have fueled the recent surge in mortgage borrowing and enabled consumers to spend at high rates relative to their income. Low interest rates...more Publication -
Working Paper No. 433
All Types of Inequality Are Not Created Equal
December 04, 2005 Evidence of an increase in various forms of inequality since the 1970s has motivated research on its relationship to growth and development. The findings of that research are contradictory and...more Publication -
Working Paper No. 432
Job-Hopping in Silicon Valley
December 02, 2005 Observers of Silicon Valley’s computer cluster report that employees move rapidly between competing firms, but evidence supporting this claim is scarce. Job-hopping is important in computer clusters because it facilitates...more Publication -
Working Paper No. 431
Monetary Policy Strategies of the European Central Bank and the Federal Reserve Bank of the US
November 23, 2005 In the debate on monetary policy strategies on both sides of the Atlantic, it is now almost a commonplace to contrast the Fed and the ECB by pointing out the...more Publication -
Working Paper No. 430
Are Long-run Price Stability and Short-run Output Stabilization All That Monetary Policy Can Aim For?
November 22, 2005 A central tenet of the so-called "new consensus" view in macroeconomics is that there is no long-run trade-off between inflation and unemployment. The main policy implication of this principle is...more Publication -
Working Paper No. 429
Bad for Euroland, Worse for Germany
November 14, 2005 This paper assesses the contribution of the European Central Bank (ECB) to Germany’s ongoing economic crisis, a vicious circle of decline in which the country has become stuck since the...more Publication -
Policy Note No. 6
Social Security’s 70th Anniversary
September 28, 2005 Social Security turned 70 on August 14, although no national celebration marked the occasion. Rather, our top policymakers in Washington continue to suggest that the system is “unsustainable.” While our...more Publication -
Strategic Analysis
The United States and Her Creditors
September 06, 2005 The main arguments in this paper can be simply stated: 1) If output in the United States grows fast enough to keep unemployment constant between now and 2010, and if...more Publication -
Working Paper No. 428
Europe’s Quest for Monetary Stability
August 25, 2005 This paper provides an overview of central banking arrangements in those European countries that have adopted the euro. Issues addressed include the structure of the “Eurosystem” and its central banking...more Publication -
Working Paper No. 427
Liquidity Preference Theory Revisited
August 12, 2005 This paper revisits Keynes’s liquidity preference theory as it evolved from the Treatise on Money to The General Theory and after, with a view of assessing the theory’s ongoing relevance...more Publication -
Public Policy Brief No. 82
The Ownership Society
August 03, 2005 As his new term begins, President George W. Bush has been trying to focus his domestic agenda on what he calls the “ownership society,” a sweeping vision of an America...more Publication -
Working Paper No. 426
Gender Inequality in a Globalizing World
July 20, 2005 Emphasis on market-friendly macroeconomic and development strategies in recent years has resulted in deleterious effects on growth and well-being, and has done little to promote greater gender equality. This paper...more Publication -
Working Paper No. 425
Refocusing the ECB on Output Stabilization and Growth through Inflation Targeting?
July 11, 2005 Challenging the conventional wisdom that structural problems are to blame for the euro area’s protracted domestic demand stagnation, this paper sets out to shed some fresh light on the role...more Publication -
Public Policy Brief No. 81
Breaking Out of the Deficit Trap
June 27, 2005 For some time, Levy Institute scholars have been engaged with issues related to the current account, government, and private sector balances. We have argued that the existing imbalances in these...more Publication -
Policy Note No. 5
Some Unpleasant American Arithmetic
June 16, 2005 Is it sufficiently realized how intractable those account imbalances—and how dangerous their potential consequences at home and abroad—have now become? Publication