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  Report No. 3

  Report July 2005

  The July Report leads off with a summary of the Levy Institute’s Annual Hyman P. Minsky Conference, which this year examined the fiscal and monetary policies required for sustainable growth. Contents: Conference: 15th Annual Hyman P. Minsky Conference on the State of the US and World Economies; Economic Imbalance: Fiscal and Monetary Policy for Sustainable […]
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  Public Policy Brief No. 81

  Breaking Out of the Deficit Trap

  For some time, Levy Institute scholars have been engaged with issues related to the current account, government, and private sector balances. We have argued that the existing imbalances in these accounts are unsustainable and will ultimately present a serious challenge to the performance of the American economy. Other scholars are also concerned, but for reasons […]
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  Press Release

  Economic Imbalances Loom Over US Economy with No Easy Remedy, Levy Institute Scholar Says

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  Press Release

  Government Spending Boosted Middle Class Well-Being During 2001-2002 Recession, but Flatter Tax Schedule Contributed to Greater Inequality, According to New Levy Institute Study

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  Press Release

  Budget Deficit Threats Overestimated, According to New Levy Economics Institute Study

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  Policy Notes No. 5

  Some Unpleasant American Arithmetic

  Is it sufficiently realized how intractable those account imbalances—and how dangerous their potential consequences at home and abroad—have now become?
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  Working Paper No. 424

  Macroeconomics of Speculation

  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 perhaps because his views were formed during the era of financial regulation, when speculation “could do no harm as bubbles on a steady stream of […]
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  Public Policy Brief Highlight No. 81

  Breaking Out of the Deficit Trap

  For some time, Levy Institute scholars have been engaged with issues related to the current account, government, and private sector balances. We have argued that the existing imbalances in these accounts are unsustainable and will ultimately present a serious challenge to the performance of the American economy. Other scholars are also concerned, but for reasons […]
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  Summary No. 2

  Summary Spring 2005

  This issue begins with a sensitivity analysis of public consumption—a major component of the Levy Institute Measure of Economic Well-Being—in relation to economic well-being in the United States. One of the notable observations contained in our report is that the distribution of public consumption is pro-rich.  
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  Working Paper No. 423

  Is More Mobility Good? Firm Mobility and the Low Wage–Low Productivity Trap

  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 negative impact of firm mobility on worker bargaining power and thus affecting wages. Downward pressure on wages can reduce the pressure on firms to raise […]
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  Research Project Report

  Interim Report

  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 2001–02. All measures show that the well-being of the average American household was significantly higher in 2000 than in 1989, with most of the improvement […]
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  Policy Notes No. 4

  Imbalances Looking for a Policy

  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 percent of GDP in the fourth quarter of 2004, and the terrible trade figures for January and February promise an even bigger deficit in the […]