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  Working Paper No. 230

  The Romance of Assimilation?

  Little research has been done on the role of intermarriage in the blending of peoples in the American past, and even less has been done on the effect of past intermarriage on the ethnic identity of today’s Americans. Senior Scholar Joel Perlmann sees value in studying intermarriage to show fault lines in society (social distance […]
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  Working Paper No. 229

  E Pluribus Unum

  Knowledge of English is near universal, and preference for that language is dominant among most immigrant nationalities. However, only a minority remain fluent in the parental languages, and there are wide variations among immigrant groups in the extent of their parental linguistic retention. These variations are important for theory and policy because they affect the […]
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  Working Paper No. 228

  Education’s Hispanic Challenge

  Two family characteristics are consistently associated with educational attainment: the level of education of parents and the material resources available to support the education of the children. Hispanic parents have a lower level of education than any other group, and Hispanic income is lower than any other group except African Americans. Hispanic children are underrepresented […]
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  Working Paper No. 227

  The Japanese Financial Crisis, Corporate Governance, and Sustainable Prosperity

  Before the Japanese stock market crash of 1990, Japanese industry was a phenomenal success. A recent unemployment rate of under 4 percent, although low by world standards, is the highest Japan has experienced since the current mode of calculation began in 1953. Japan’s industrial dominance, sustained prosperity, and commitment to lifetime employment seem to be […]
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  Policy Notes No. 3

  Small Business and the Minimum Wage

  To what extent have small businesses hired former welfare recipients and what might induce them to hire more? Do small businesses change their hiring and employment practices in response to an increase in the minimum wage? The Levy Institute conducts a national survey of small firms in many industries to find out.
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  Working Paper No. 226

  The Political Economy of Corporate Governance in Germany

  Research Associate Mary O’Sullivan, of INSEAD and the Center for Industrial Competitiveness at the University of Massachusetts–Lowell, is investigating systems of corporate governance to find which lead to successful decisions for individual firms and for an economy as a whole. She believes that success requires a form of corporate governance that generates conditions that permit […]
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  Policy Notes No. 2

  How Should the Surpluses Be Spent?

  The federal budget deficit is disappearing; some shadows linger, but the latest Congressional Budget Office projections put the government budget in deficit by only $5 billion in fiscal year 1998, in balance by 2001, and in surplus through at least 2008. In this Policy Note, Research Associate David Alan Aschauer examines the likely economic consequences, […]
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  Report No. 1

  Report February 1998

  The Asian financial crisis has indeed brought the globalization of financial markets home to policymakers, academics, and the American public. In his editorial, Visiting Senior Scholar Jan Kregel questions the appropriateness of IMF policies in managing recent crises and also calls for democratic accountability in an institution of global financial governance. Contents: The Levy Report […]
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  Press Release

  Investment in Innovation Is Key to Competitiveness and Sustained Prosperity

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  Working Paper No. 225

  The Development and Reform of the Modern International Financial System

  The international financial system might be said to be in crisis. It requires frequent intervention by central banks and other national and international bodies to reduce fluctuations of currencies. It does not tend to eliminate current account deficits or surpluses; exchange rate fluctuations do not lead to movements toward balanced trade, nor do they appear […]
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  Working Paper No. 224

  The Diagnostic Imaging Equipment Industry

  While diagnostic imaging equipment is not by any means a typical industry, it offers an example of a rapidly changing, high technology sector—the kind of industry in which, according to many observers, United States manufacturers ought to excel. And indeed, for most of the 100-year history of this industry, American producers have led the field, […]
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  Working Paper No. 223

  The Kaleckian Analysis and the New Millennium

  Visiting Scholar Malcolm Sawyer, of the University of Leeds, commemorates Michal Kalecki’s 100th birthday by considering how Kalecki’s macroeconomic analysis of developed capitalist economies should be adapted in light of the institutional changes that have occurred since he did his major work. Sawyer believes that although Kalecki’s reputation rests on his theoretical work, his theorizing […]