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Policy Note No. 4Health Care Finance in Need of Rethinking
April 01, 2000 Hospitals have been squeezed by the Balanced Budget Act; the uninsured population is still on the rise; and long-term care is paid for largely by welfare grants. The nation’s flawed...more Publication -
Working Paper No. 299The Public Commodities Problem
March 01, 2000 The decision about how much to spend on a public program depends on the answers to two questions: Should the government pursue the goal of this program? Given that the...more Publication -
Working Paper No. 298
Krugman on the Liquidity Trap
March 01, 2000 Paul Krugman has argued that Japan is in a liquidity trap and that it can recover only if the central bank there follows a policy of “credible inflation.” This paper...more Publication -
Working Paper No. 297
What’s Behind the Recent Rise in Profitability?
March 01, 2000 Profitability in the United States has been rising since the early 1980s and by 1997 was at its highest level since its postwar peak in the mid 1960s, and the...more Publication -
Working Paper No. 296
An Alternative Stability Pact for the European Union
March 01, 2000 This paper proposes an alternative stability and growth pact among European Union (EU) governments that would underpin the introduction of a single currency and a “single market” within the EU....more Publication -
Policy Note No. 3
Welfare College Students
March 01, 2000 The rules and regulations that were developed to reduce welfare rolls through immediate employment discourage the achievement of economic independence through the pursuit of higher education. Publication -
Policy Note No. 2
Is the New Economy Rewriting the Rules?
February 05, 2000 Full employment without inflation can continue—with the right leadership, prudent policy changes to manage the dangers, and cooperation from all branches of the government. Publication -
Public Policy Brief No. 59Financing Long-Term Care
February 03, 2000 The nation is not prepared to deal with the jump in expenditures for long-term care that will come with the aging of the baby-boom generation. Only a small part of...more Publication -
Working Paper No. 295
Is There a Skills Crisis?
February 01, 2000 Many economists and other social scientists and policy makers believe that the growth in inequality in the last two decades reflects mostly an imbalance between the demand for and the...more Publication -
Working Paper No. 294
The Brazilian Crisis
February 01, 2000 This paper argues that the Brazilian crisis differs from the standard Minsky crisis in that it is Brazil’s government that is engaging in Ponzi financing while private sector balance sheets...more Publication -
Strategic AnalysisInterim Report
January 01, 2000 If the United States’ balance of trade does not improve, the country could eventually find itself in a “debt trap,” the author says. The aim of this paper, the second...more Publication -
Policy Note No. 1
Explaining the US Trade Deficit
January 01, 2000 Conventional theory makes the curious assumption that, in international trade, movements in the real exchange rate negate cost differences so as to make all countries equally competitive. But quite the...more Publication -
Public Policy Brief No. 58
A New Approach to Tax-Exempt Bonds
December 10, 1999 The current system of tax-exempt bond financing is inefficient and inequitable because a large portion of the federal subsidy provided by the tax exemption does not reach state and local...more Publication -
Public Policy Brief No. 57
Do Institutions Affect the Wage Structure?
December 09, 1999 Union strength is capable of boosting wages for workers at the low end of the income scale. Even when differences in education and industry type are accounted for, workers in...more Publication -
Working Paper No. 291
The Social Wage, Welfare Policy, and the Phases of Capital Accumulation
December 01, 1999 This paper addresses two broad questions. The first one relates to the economic rationale for the existence of the welfare state. To address this question, we review the marginalist arguments...more Publication -
Working Paper No. 290
Finance in a Classical and Harrodian Cyclical Growth Model
December 01, 1999 This paper is an extension of an earlier working paper (“Finance and the Macroeconomic Process in a Classical Growth and Cycles Model,” Working Paper No. 253). The basic structure of...more Publication -
Working Paper No. 293
Employment Inequalities
December 01, 1999 This paper documents the employment disadvantage faced by the less qualified part of the labor force and examines the factors that influence the differing extent of this disadvantage across OECD...more Publication -
Working Paper No. 292
Why Do Political Action Committees Give Money to Candidates?
December 01, 1999 This paper examines political action committees’ motivations for giving campaign contributions to candidates for political office. First, the paper estimates the effect of campaign contributions received by candidates on the...more Publication -
Public Policy Brief No. 56
Risk Reduction in the New Financial Architecture
November 02, 1999 The causes for the instability that has marked the financial system over the past decade lie deep in the economic theory that urges easy and efficient substitution of one piece...more Publication -
Working Paper No. 289
New Perspectives on the Guaranteed Income
November 01, 1999 Renewed interest in a guaranteed income is evident from the number of books that have been published on the topic in the 1990s. This paper compares seven of those books....more Publication -
Working Paper No. 288
Is There a Wage Payoff to Innovative Work Practices?
November 01, 1999 During the 1980s, wage inequality increased dramatically and the American economy lost many high wage, low- to medium-skill jobs, which had provided middle class incomes to less skilled workers. Increasingly,...more Publication -
Working Paper No. 287
Functional Finance
November 01, 1999 The purpose of this paper is threefold. First, the theory of functional finance, as explicated by its originator, Abba Ptachya Lerner, is put forward; second, the reader is introduced to...more Publication -
Working Paper No. 286
The History of Wage Inequality in America, 1820 to 1970
November 01, 1999 In recent decades the United States has experienced a pronounced widening of its wage structure. For the most part, analysis of the recent rise in wage inequality has taken place...more Publication -
Working Paper No. 283
Financing Long-Term Care
October 01, 1999 The nation is ill-prepared to finance the quantum jump in long-term care spending that is on its way as the baby boom ages. By default rather than by design, Medicaid...more Publication