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  Book Series

  What Has Happened to the Quality of Life in the Advanced Industrialized Nations?

  Throughout the 1990s the United States expanded its lead over other advanced industrial nations in terms of conventionally measured per capita income. However, it is not clear that welfare levels in America have grown concomitantly with per capita income, nor that Americans are necessarily better off than citizens of other advanced countries. The contributors to […]
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  Public Policy Brief Highlight No. 78

  The War on Poverty after 40 Years

  Twenty to 25 years ago, a debate was under way in academe and in the popular press over the War on Poverty. One group of scholars argued that the war, initiated by Presidents Kennedy and Johnson, had been lost, owing to the inherent ineffectiveness of government welfare programs. Charles Murray and other scholars argued that […]
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  Public Policy Brief Highlight No. 77

  The Sustainability of Economic Recovery in the United States

  A rebound of consumption, investment, and consumer confidence in the second half of 2003 has raised hopes that the United States’ recovery from the 2001 recession is on a sustainable course. According to this brief by Philip Arestis and Elias Karakitsos, however, the trend in the short-term factors affecting the economy has changed for the […]
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  Working Paper No. 408

  Keynesian Theorizing during Hard Times

  This paper argues that the Stock-Flow Consistent Approach to macroeconomic modeling can be seen as a natural outcome of the path taken by Keynesian macroeconomic thought in the 1960s and 1970s, a theoretical frontier that remained largely unexplored with the end of Keynesian academic hegemony. The representative views of Davidson, Godley, Minsky, and Tobin as […]
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  Press Release

  Revenue Sharing and Government Jobs Program Will Help Sustain US Economy, New Levy Report Says

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  Press Release

  Election Year Fiscal Policies Could Pose Long-Term Threat to US Economy, New Levy Institute Study Suggests

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  Research Project Report

  Levy Institute Measure of Economic Well-Being

  This report presents the latest findings of the Levy Institute Measure of Economic Well-Being (LIMEW) research project within our program on the distribution of income and wealth. It enhances previous findings about economic well-being and inequality in the United States by extending our analysis to include additional years, 1995 and 2001, and by comparing our […]
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  Working Paper No. 407

  Changes in Household Wealth in the 1980s and 1990s in the US

  I find that despite slow growth in income over the 1990s, there have been marked improvements in the wealth position of average families. Both mean and median wealth grew briskly in the late 1990s. The inequality of net worth leveled off even though income inequality continued to rise over this period. Indebtedness also fell substantially […]
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  Working Paper No. 406

  Investigating the Intellectual Origins of Euroland’s Macroeconomic Policy Regime

  This paper investigates the (re-)establishment of central banking in West Germany after 1945 and the history of the Bundesbank Act of 1957. The main focus is on the early emphasis on the “independence” of the central bank, which, together with a “stability-orientation” in monetary policy, proved a lasting German peculiarity. The paper inquires whether contemporary […]
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  Policy Notes No. 2

  Those “D” Words

  Recent economic commentary has been filled with “D” words: deficits, debt, deflation, depreciation. Deficits—budget and trade—are of the greatest concern and may be on an unsustainable course, as federal and national debt grow without limit. The United States is already the world’s largest debtor nation, and unconstrained trade deficits are said to raise the specter […]
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  Summary No. 2

  Summary Spring 2004

  The sharp reversal from surplus to deficit of the federal budget has prevented a deep recession, but long-term strategic economic difficulties remain. A new Strategic Analysis suggests that the government continue its substantial fiscal stimulus while enhancing the country’s international competitiveness, so as to stimulate export growth and use the domestic jobs thereby created to […]
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  Press Release

  Rescinding Tax Cuts Would Benefit US Economy More Than Enacting Budget Cuts, According to New Levy Institute Study