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  Working Paper No. 433

  All Types of Inequality Are Not Created Equal

  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 inconclusive. One source of these divergent results is that researchers rely on different group measures of inequality. Inequality by gender, household, class, and ethnicity may […]
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  Working Paper No. 432

  Job-Hopping in Silicon Valley

  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 the reallocation of talent and resources toward firms with superior innovations. Using new data on labor mobility, we find higher rates of job-hopping for college-educated […]
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  Book Series

  Italians Then, Mexicans Now

  According to the American dream, hard work and a good education can lift people from poverty to success in the “land of opportunity.” The unskilled immigrants who came to the United States from Southern, Central, and Eastern Europe in the late 19th and early 20th centuries largely realized that vision. Within a few generations, their […]
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  Working Paper No. 431

  Monetary Policy Strategies of the European Central Bank and the Federal Reserve Bank of the US

  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 former’s flexibility and capacity to adjust rigidity, and the latter’s extreme caution and its obsession with low inflation. In looking at the foundations of the […]
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  Working Paper No. 430

  Are Long-run Price Stability and Short-run Output Stabilization All That Monetary Policy Can Aim For?

  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 that all monetary policy can aim for is (modest) short-run output stabilization and long-run price stability—i.e., monetary policy is neutral with respect to output and […]
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  Working Paper No. 429

  Bad for Euroland, Worse for Germany

  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 early 1990s. It is argued that the ECB continues the Bundesbank tradition of asymmetric policymaking: the bank is quick to hike, but slow to ease. […]
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  Press Release

  Levy Institute Conference Gathers Leading Economists, Social Scientists, and Other Well-Being, Valuing Unpaid Household Production, and Other Topics

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  Audio

  Time Use and Economic Well-Being

  This conference was organized as part of the Levy Institute’s research and policy program of the distribution of income and wealth. Its purpose was to cover issues and topics related to time allocation. Presentations focus on utilizing time-use data in investigating the determinants of time allocation by gender and other demographic and economic characteristics (e.g., […]
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  Report No. 4

  Report October 2005

  A new Levy Institute Strategic Analysis examines the current states of the economy’s main balances and proposes an alternative to the piecemeal protectionist measures that some have advocated. The authors argue that some of the dire events in their baseline scenario—which shows that the balance of trade is likely to deteriorate by the end of […]
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  Audio

  UNDP/BDP–Levy Conference: Unpaid Work and the Economy

  Organized by the Bureau for Development Policy, United Nations Development Programme, in partnership with The Levy Economics Institute of Bard College View Conference Website The purpose of convening this conference was to share views, research, and methodologies from around the world, on women’s unpaid work and its relationship to the economy within the context of […]
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  Conference Proceedings

  UNDP/BDP–Levy Conference: Unpaid Work and the Economy

  Organized by the Bureau for Development Policy, United Nations Development Programme, in partnership with The Levy Economics Institute of Bard College View Conference Website The purpose of convening this conference was to share views, research, and methodologies from around the world on women’s unpaid work and its relationship to the economy within the context of […]
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  Policy Notes No. 6

  Social Security’s 70th Anniversary

  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 nation’s most successful social program, and among its longest lived, has allowed generations of Americans to live with dignity in retirement, many think it is […]