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  Policy Notes No. 2

  The Brazilian Swindle and the Larger International Monetary Problem

  The International Monetary Fund has offered Brazil a $30 billion loan, most of it reserved for next year, on condition that the country continue to run a large primary surplus in the government budget. In this way the Fund maintains a strong arm over Brazil’s next government. Any significant move toward fiscal expansion would trigger […]
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  Policy Notes No. 1

  Kick-Start Strategy Fails to Fire Sputtering US Economic Motor

  There is a strategic need, if a “growth recession” is to be avoided, for a new motor to drive the economy, particularly if there is a further decline in private expenditure relative to income that could generate a further hole in aggregate demand.
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  Summary No. 4

  Summary Fall 2002

  New Working Papers summarized in this issue include an examination of racial and ethnic differentiation in gender inequality, a proposal for a poverty measure that considers household wealth together with income, and a study of the probable impact of the United Kingdom’s adoption of the euro. An analysis of "narrow" banking by the IMF’s Biagio […]
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  Summary No. 2

  Summary Spring–Summer 2002

  This double issue begins with an account of an international symposium on gender-aware macroeconomics, held at the Levy Institute in May, and includes an overview of the Institute’s 12th Annual Hyman P. Minsky Conference on Financial Markets.   Contents: Summaries of events include the 12th annual Hyman P. Minsky conference and a symposium on gender-aware […]
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  Summary No. 1

  Summary Winter 2002

  This Summary begins with Senior Scholar James K. Galbraith’s analysis of a very topical issue—the war economy.   Contents: New issue of Strategic Analysis (Wynne Godley and Alex Izurieta) · Policy Notes: The War Economy (Galbraith); Hard Times, Easy Money? Countercyclical Stabilization in an Uncertain Economy (Carpenter); Are We All Keynesians (Again)? (Papadimitriou and Wray) […]
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  Press Release

  Federal Government Must Play Bigger Role in Economy

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  Press Release

  Temporary Stimulus Package Won’t Address Underlying Structural Problems in US Economy, New Levy Report Says

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  Report No. 4

  Report December 2001

  The United States is in the early stages of a recession that could be as deep and intractable as any since the Second World War, with serious consequences for the rest of the world. In his editorial for this issue of the Report, Distinguished Scholar Wynne Godley argues that the situation can be remedied, but […]
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  Public Policy Brief Highlight No. 67

  The Economic Consequences of German Unification

  Although the costs associated with moving an antiquated socialist economy toward its capitalist counterpart was anticipated to be significant, German industrial efficiency was expected to quickly overcome any challenges. Things turned out rather differently. Conventional wisdom blamed poor economic performance on unification. The government and the Bundesbank therefore put in place fiscal and monetary policies […]
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  Public Policy Brief Highlight No. 66

  Racial Wealth Disparities

  Despite decades of policies aimed at improving the economic position of African Americans in terms of relative income and earnings, they remain substantially behind whites. The research presented in this brief indicates that the wealth gap is even more staggering. Following families over time in order to understand racial differences in the sources and patterns […]
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  Working Paper No. 341

  Israeli Attitudes about Inter Vivos Transfers

  Using data from the 1994–95 Survey of Families in Israel—which includes 1,607 urban Jewish respondents interviewed on topics relating to work behavior, household income, wealth, assistance received from parents and given to children, and views about financial responsibilities between parents and children—the authors examined attitudes in Israel about intergenerational assistance and the effects of these […]
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  Public Policy Brief No. 67

  The Economic Consequences of German Unification

  Although the costs associated with moving an antiquated socialist economy toward its capitalist counterpart was anticipated to be significant, German industrial efficiency was expected to quickly overcome any challenges. Things turned out rather differently. Conventional wisdom blamed poor economic performance on unification. The government and the Bundesbank therefore put in place fiscal and monetary policies […]