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  Press Release

  Levy Institute Conference Examines Economic Inequality

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  Policy Notes No. 8

  More Pain, No Gain

  Neither the Breaux plan nor President Clinton’s proposal for “saving” Social Security promises much gain, but the Breaux plan, unlike the president’s proposal, would inflict real pain in the form of reduced benefits.
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  Public Policy Brief Highlight No. 55

  Does Social Security Need Saving?

  Projections of an impending crisis in financing Social Security depend on unduly pessimistic assumptions about basic demographic and economic variables. Moreover, even if the assumptions are accepted, the projected gap between Social Security revenues and expenditures would not constitute a “crisis” and could be eliminated with relatively simple adjustments when it occurs. The real issue […]
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  Press Release

  Levy Institute Report Finds Economic Underpinnings of the “Goldilocks Economy” Are Unsustainable

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  Public Policy Brief No. 55

  Does Social Security Need Saving?

  Projections of an impending crisis in financing Social Security depend on unduly pessimistic assumptions about basic demographic and economic variables. Moreover, even if the assumptions are accepted, the projected gap between Social Security revenues and expenditures would not constitute a “crisis” and could be eliminated with relatively simple adjustments when it occurs. The real issue […]
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  Press Release

  Is the Social Security System Really Facing a Crisis?

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  Working Paper No. 278

  Minsky and the Mainstream

  Hyman Minsky’s research emphasized the central role of finance in modern economics at a time when finance was not important in most mainstream macroeconomic research. But in the 1980s, mainstream research began to explore the role of finance in firm and consumer behavior. This paper examines the extent to which this recent mainstream research captures […]
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  Working Paper No. 277

  Hyman Minsky’s Theory of Capitalist Development

  During the last decade of his life, Hyman P. Minsky drew on insights acquired from Joseph Schumpeter in an effort to explore the long-term development of capitalism. He believed such an exploration would underscore the economic implications of postwar financial-system innovations and could encourage a broad discussion regarding the appropriate structure of the US economy. […]
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  Working Paper No. 276

  Lessons from the Asian Crisis

  This paper presents a central banker’s perspective on the Asian crisis. Central banks have two core missions: the pursuit of monetary policy to achieve broad macroeconomic objectives and the maintenance of financial stability, including the management of financial crises. The management of financial crises is closely connected to the regulation and supervision of the banking […]
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  Report No. 3

  Report August 1999

  A new Public Policy Brief argues that the prediction of a coming crisis in Social Security is based on overly pessimistic assumptions about revenues and costs. Even if the prediction were to come to pass, the resulting financial shortfall could be resolved by relatively minor adjustments in the tax system at that time; cutting benefits […]
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  Press Release

  Small Business May Be Especially Vulnerable to Cash Flow Squeeze If Economy Slows

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  Public Policy Brief Highlight No. 54

  Down and Out in the United States

  Despite a long period of strong economic growth, more than 28 million working-age persons were categorized by the Bureau of Labor Statistics as out of the labor force in 1998. A small portion of this population will move into the labor force, but the majority will remain without work. This brief examines the demographics of […]