Search

4190 results found

• 

  Working Paper No. 323

  Easy Money through the Back Door

  This paper assesses the performance of the European Central Bank (ECB) over the first two years of Europe’s new policy regime. The verdict is that the ECB was not actually in charge, as the markets took over and imposed easy money on the euro zone. It is argued that the causes for the ECB’s loss […]
• 

  Working Paper No. 322

  Will the Euro Bring Economic Crisis to Europe?

  It has been argued that the eurozone will face considerable economic difficulties. These will take a number of forms, two of which could qualify as “crises.” First, the euro was launched at a time when unemployment levels were high (10 percent of the workforce) and disparities in the experience of unemployment and standards of living […]
• 

  Public Policy Brief No. 63

  The Future of the Euro

  This brief provides a detailed description of the Stability and Growth Pact, an agreement entered into by the member states of the European Union that has far-reaching implications for the long-run value of the euro, and therefore, on the real economy in terms of output growth and employment. Yet despite the fact that the pact […]
• 

  Policy Notes No. 3

  Financing Health Care

  The problem is that the payers of health care—government and employers alike—are in open revolt against costs they never anticipated would become so high. Payers succeeded for a time in limiting increases to rises in the general price level. But it is one thing to remedy the most glaring inefficiencies in the system—to pick, as […]
• 

  Report No. 1

  Report March 2001

  In this issue’s editorial, Senior Scholar James K. Galbraith predicts that the recent rise in wage inequality will lead to an economic slowdown in the United States. Contents: Editorial: "Inequality Ticks Up, Bringing Bad News for the Economy" (James K. Galbraith) * New Public Policy Briefs: Is There a Skills Crisis? * The Future of […]
• 

  Policy Notes No. 2

  Fiscal Policy for the Coming Recession

  Growing government surpluses, a ballooning trade deficit, and the resulting growth in private sector debt have placed the United States’ economy in a precarious position. Papadimitriou and Wray agree with President Bush that fiscal stimulus is necessary to reinvigorate the economy; in the current economic environment, monetary policy will not work. However, a tax cut […]
• 

  Book Series

  Corporate Governance and Sustainable Prosperity

  How can we explain the persistent worsening of the income distribution in the United States in the 1980s and 1990s? What are the prospects for the reemergence of sustainable prosperity in the American economy over the next generation? In addressing these issues, this book focuses on the microeconomics of corporate investment behavior, especially as reflected […]
• 

  Working Paper No. 321

  Testing Profit Rate Equalization in the US Manufacturing Sector

  Long-run differentials in interindustrial profitability are relevant for several areas of theoretical and applied economics because they characterize the overall nature of competition in a capitalist economy. This paper argues that the existing empirical models of competition in the industrial organization literature suffer from serious flaws. An alternative framework, based on recent advances in the […]
• 

  Working Paper No. 320

  “Race or People”

  In 1898, the United States Bureau of Immigration initiated a classification of immigrants into some 40 categories of "race or people." Nearly all the categories covered Europeans. In 1909 an effort was made to extend this system of classification to the US Census, and the relevant measure passed in the Senate. From the outset, organizations […]
• 

  Policy Notes No. 1

  Fiscal Policy to the Rescue

  The United States’ economic expansion of the past eight years has been fueled by a rise in private sector indebtedness. In 1997 the private sector spending exceeded income for the first time since 1952, and since then the gap between the two has risen markedly. The situation closely mirrors that experienced in the United Kingdom […]
• 

  Summary No. 4

  Summary Fall 2001

  In a new Strategic Analysis, Distinguished Scholar Wynne Godley and Research Scholar Alex Izurieta provide an explanation for the recent economic slowdown in the United States, examine policy options, and discuss alternative scenarios for medium-term economic performance. In a related Policy Note, Phillips & Drew economist Bill Martin forecasts a post-bubble trauma for the United […]
• 

  Summary No. 3

  Summary Summer 2001

  Summaries of the speeches and sessions at the 11th Annual Hyman P. Minsky Conference on Financial Structure include the remarks of Thomas Hoenig, president of the Federal Reserve Bank in Kansas City, who discussed the broad policy lessons that can be learned from the recent proliferation of financial crises in developed nations and their implications […]