Search

">

Filter by

4188 results found

Working Paper No. 521
Earnings Functions and the Measurement of the Determinants of Wage Dispersion
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 that allows analysis of the determinants of the overall wage dispersion. The authors’ approach combines two techniques. The first of these is popular in the […]
Working Paper No. 520
Nurkse and the Role of Finance in Development Economics
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 particular his views on the importance of employment policy in mobilizing domestic resources and the difficulties surrounding the use of external resources to finance development. […]
Working Paper No. 519
Public Employment and Women
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 part-time work for unemployed heads of households, and yet more than 70 percent of the people who turned up for work were women. The present […]
Press Release
US Economy Faces at Least a Growth Recession over the Next Two Years, New Levy Economics Institute Analysis Says
Public Policy Brief No. 92
The US Credit Crunch of 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 an economic condition in which loans and investment capital are difficult to obtain; in such a period, banks and other lenders become wary of issuing […]
Working Paper No. 518
Fiscal Deficit, Capital Formation, and Crowding Out in India
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 between public and private investment; rather, complementarity is observed between the two. The dynamics of financial crowding out is captured through the dual transmission mechanism […]
Working Paper No. 517
What Are the Relative Macroeconomic Merits and Environmental Impacts of Direct Job Creation and Basic Income Guarantees?
There is a body of literature that favors universal and unconditional public assurance policies over those that are targeted and means-tested. Two such proposals—the basic income proposal and job guarantees—are discussed here. The paper evaluates the impact of each program on macroeconomic stability, arguing that direct job creation has inherent stabilization features that are lacking […]
Press Release
2007 US Credit Crunch Can Be Seen As “Minsky Moment”
Press Release
Collapse of WTO’s Doha Trade Talks Presents Opportunity to Create New Trade Paradigm, Levy Scholar Says
Book Series
Government Spending on the Elderly
The results are in: we are aging—individually and collectively, nationally and globally. In the United States, as in most countries with an advanced economy, the aging of the population will be a primary domestic public policy issue in the coming decades. According to Census Bureau estimates, the proportion of the elderly in the total population […]
Public Policy Brief No. 91
Globalization and the Changing Trade Debate
The failure of the Doha Development Round of World Trade Organization (WTO) negotiations in July 2006 was the first major collapse of a multilateral trade round since World War II. Research Associate Thomas Palley sees the failure as an event that could mark the close of a 60-year era of trade policy largely centered on […]
Public Policy Brief Highlight No. 92
The US Credit Crunch of 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 an economic condition in which loans and investment capital are difficult to obtain; in such a period, banks and other lenders become wary of issuing […]