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Working Paper No. 424Macroeconomics of Speculation
June 15, 2005 Despite his emphasis on the speculative character of investment decisions, Minsky paid little attention to asset price speculation per se, ignoring asset price bubbles and their macroeconomic effects. That is...more Publication -
Working Paper No. 423
Is More Mobility Good? Firm Mobility and the Low Wage–Low Productivity Trap
May 06, 2005 This paper explores the possibility that unregulated FDI flows are causally implicated in the decline in labor productivity growth in semi-industrialized economies. These effects are hypothesized to operate through the...more Publication -
Research Project ReportInterim Report
May 01, 2005 This interim report compares the LIMEW and official measures of economic well-being for 1989–2002, a period marked by the economic boom of the late 1990s and a mild recession in...more Publication -
Working Paper No. 422
The Disutility of International Debt
April 29, 2005 In dealing with the problematic relationship of morality to rational choice theory, neoclassical economists since Lionel Robbins have often argued that they can incorporate moral values into consumer theory by...more Publication -
Policy Note No. 4Imbalances Looking for a Policy
April 29, 2005 The latest batch of numbers from the United States makes for a disturbing read. The GDP growth rate of GDP has been adequate. However, the current account deficit was 6.3...more Publication -
Policy Note No. 3
Is the Dollar at Risk?
April 26, 2005 A massive fiscal stimulus and, until recently, aggressive monetary easing have been successful in raising bond and real estate prices to unprecedented levels, inducing a credit boom that has prevented...more Publication -
Working Paper No. 421
A Simplified Stock-flow Consistent Post-Keynesian Growth Model
April 07, 2005 Despite being arguably the most rigorous form of structuralist/post-Keynesian macroeconomics, stock-flow consistent models are quite often complex and difficult to deal with. This paper presents a model that, despite retaining...more Publication -
Working Paper No. 420
Is the Equalizing Effect of Retirement Wealth Wearing Off?
March 25, 2005 Retirement wealth is often viewed as a great equalizer, offsetting the inequality in standard household net worth. One of the most dramatic changes in the retirement income system over the...more Publication -
Working Paper No. 419
FDIC-sponsored Self-Insured Depositors
March 08, 2005 Insured depositors have no reason to care how their banks perform or how safe they are. Only uninsured depositors have that incentive. This paper offers a plan to replace some...more Publication -
Research Project Report
Economic Well-Being in US Regions and the Red and Blue States
March 01, 2005 This report analyzes regional aspects of economic well-being according to four regions identified by the United States Census Bureau: the Northeast, Midwest, South, and West. Using the official measures and...more Publication -
Strategic AnalysisHow Fragile Is the US Economy?
March 01, 2005 As we projected in a previous Strategic Analysis, the United States’ economy experienced growth rates higher than 4 percent in 2004. The question we want to raise in this Strategic...more Publication -
Working Paper No. 418
Asset Ownership along Gender Lines
February 24, 2005 Gender differences have long been documented in earnings, employment opportunities, and time spent within the unpaid care economy. This paper joins the recent efforts in the economics literature on gender...more Publication -
Policy Note No. 2
Manufacturing a Crisis
February 08, 2005 For seven decades, the far right has never veered from its avowed mission to gut America’s most comprehensive, successful, and popular safety net: Social Security. While it had won a...more Publication -
Working Paper No. 417
Determinants of Minority–White Differentials in Child Poverty
January 22, 2005 This paper uses data from the 1993–2001 March Current Population Survey to estimate the extent to which child living arrangements, parental work patterns, and immigration attributes shape racial and ethnic...more Publication -
Working Paper No. 416
Occupational and Industrial Mobility in the United States 1969–93
January 20, 2005 Using the Panel Study of Income Dynamics, we investigate occupational and industrial mobility of individuals over the 1969–80 and 1981–93 periods in the United States. We find that workers changed...more Publication -
Policy Note No. 1
The Case for an Environmentally Sustainable Jobs Program
January 01, 2005 The job numbers in the United States and around the globe continue to look bleak. Not only are the absolute numbers dismal, but also job growth has dragged on with...more Publication -
Public Policy Brief No. 80The Fed and the New Monetary Consensus
December 21, 2004 The most charitable interpretation of the Federal Reserve’s recent interest rate hikes is that they appear to have been premature. A convincing array of data on payrolls, employment-to-population ratios, and...more Publication -
Research Project Report
How Much Does Public Consumption Matter for Well-Being?
December 01, 2004 This report supplements previous findings of the Levy Institute Measure of Economic Well-Being (LIMEW) research project within our program on the distribution of income and wealth. Some readers have questioned...more Publication -
Working Paper No. 415
Measuring Capacity Utilization in OECD Countries
November 19, 2004 This paper derives measures of potential output and capacity utilization for a number of OECD countries, using a method based on the cointegration relation between output and the capital stock....more Publication -
Working Paper No. 414
Household Wealth Distribution in Italy in the 1990s
November 10, 2004 This paper describes the composition and distribution of household wealth in Italy. First, the evolution of household portfolios over the last 40 years is described on the basis of newly...more Publication -
Working Paper No. 413
Visions and Scenarios
October 05, 2004 Ecological economics is a transdisciplinary alternative to mainstream environmental economics. Attempts have been made to outline a methodology for ecological economics and it is probably fair to say that, at...more Publication -
Working Paper No. 412
The Transmission Mechanism of Monetary Policy
October 01, 2004 Recently, many economists have credited the late-1990s economic boom in the United States for the easy money policies of the Federal Reserve. On the other hand, observers have noted that...more Publication -
Research Project Report
How Much Does Wealth Matter for Well-Being?
September 22, 2004 Economic well-being refers to the command or access by members of a household over the goods and services produced in a modern market economy during a given period of time.The...more Publication -
Public Policy Brief No. 79
The Case for Rate Hikes
August 01, 2004 For a time, the Federal Open Market Committee (FOMC) seemed to have learned from the mistakes of the past. Instead of taking good economic performance as a sign of incipient...more Publication