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Working Paper No. 499ELR-led Economic Development
This paper establishes the financial feasibility of an employer-of-last-resort (ELR) program in a small developing country like Tunisia. It argues that an ELR-led economic development policy is vastly superior to the traditional import substitution industrialization (ISI), export-led, and FDI-led development models, all of which Tunisia has adopted without much success in reducing unemployment. Despite outperforming […] -
Working Paper No. 498
Employment Guarantee Programs
This working paper provides a survey of the theoretical underpinnings for the various employment guarantee schemes, and discusses full employment policy experiences in the United States, Sweden, India, Argentina, and France. The theoretical and policy developments are delineated in a historical context. The paper concludes by identifying some questions that still need to be addressed […] -
Working Paper No. 497
Surveying American Jews and Their Views on Middle East Politics
This working paper takes up three related themes. In section 1, I briefly describe the issues relevant to surveying American Jews and highlight the importance of authoritative national surveys; in section 2, I note that these surveys have not included much exploration of American Jewish divisions over Israeli and American Middle East policy. In section […] -
Working Paper No. 496
Gender Disparities in Employment and Aggregate Profitability in the United States
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 whether the contribution of the declining wage share to the upswing in profitability was aided by the growing incorporation of women into the workforce. Results […] -
Press ReleaseFederal Reserve Board Governor Frederic S. Mishkin to Give Keynote Address at 16th Annual Hyman P. Minsky Conference, “Global Imbalances: Prospects for the US and World Economies,” at Levy Economics Institute, April 19–20
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Working Paper No. 495
Gender Inequalities in Allocating Time to Paid and Unpaid Work
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 not so much by who does what type of work but by how much work of each type they do. There is a trade-off between […] -
Strategic AnalysisThe US Economy: What’s Next?
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 the upheaval will turn out to be contagious, causing a major slowdown or even a recession later in 2007. Others believe that the turmoil will […] -
Research Project ReportHow Well Off Are America’s Elderly?
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 elderly is an extremely topical issue. This report provides a new look at America’s elderly, and shows that the official measures drastically understate their level […] -
Audio16th Annual Hyman P. Minsky Conference on the State of the US and World Economies
The 2007 Hyman P. Minsky Conference drew upon public discussions on the state of the United States and world economies in the context of prevailing economic trends and their implications. Topics included fiscal and monetary policies for continued growth and employment; currency markets fluctuations and the consequent exchange-rate misalignments, as well as possible cures; and […] -
Working Paper No. 494
Fiscal Policy in a Stock-flow Consistent (SFC) Model
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 is not set in the appropriate fashion—that is, at a well-defined level and growth rate—then full employment and low inflation will not be achieved in […] -
Conference Proceedings
16th Annual Hyman P. Minsky Conference on the State of the US and World Economies
The 2007 Hyman P. Minsky Conference focused on monetary and fiscal policies for continued growth and employment; currency markets fluctuations and the consequent exchange-rate misalignments, as well as possible cures; and the United States’ households and trade deficits, their implications for growth and employment, and their effect on the conduct of monetary and fiscal policy. […] -
Report No. 2
Report April 2007
Who’s really at the top of the economic ladder? A new Levy Institute Measure of Economic Well-Being report by Senior Scholars Edward N. Wolff and Ajit Zacharias examines how comparisons of economic well-being are affected by the inclusion of an accurate measure of well-being derived from wealth. Contents: NEW LEVY INSTITUTE MEASURE OF ECONOMIC WELL-BEING […]