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Press ReleaseRising Number of Long-Term Unemployed Shows Need to Reform Unemployment Insurance
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Working Paper No. 171Rethinking Health Care Policy—The Case for Retargeting Tax Subsidies
More than 40 million Americans currently have no access to health care for reasons of income. Moreover, plans enacted or discussed at the state level to cover the uninsured face problems of cost and quality of service as well as the question of who pays for such programs. To solve the problem of access, Senior […] -
Public Policy Brief No. 26Making Unemployment Insurance Work
What is needed to solve the problem of growing long-term unemployment is a two-tiered system that distinguishes between short-term and long-term unemployment. The system should continue to function as an insurance program for 26 weeks to allow workers to search for employment that represents the best match with their experience, skills, and credentials. The first […] -
Working Paper No. 170
Which Deficit?
For some time economists have acknowledged that reported budgetary data do not necessarily reflect actual economic activity. Agreement has not been reached, however, on how budget figures should be adjusted to reflect such activity accurately. In this working paper, Resident Scholar Neil H. Buchanan examines 13 alternative measures of the budget deficit in order to […] -
Working Paper No. 169
Comparing Alternative Methods of Adjusting US Federal Fiscal Deficits for Cyclical and Price Effects
In this working paper, Resident Scholar Neil H. Buchanan statistically tests six alternative definitions of the federal budget deficit to determine if these definitions improve the results of econometric studies that use the deficit as an exogenous variable. His objectives are (1) to evaluate Robert Eisner’s conclusion that a price-adjusted deficit definition improves econometric results […] -
Working Paper No. 168
Assimilation
Assimilation of today’s immigrants is one topic in the current debate on immigration. Some observers assert that recent immigrants are unable to assimilate into American society as easily as past immigrants were able to. Others counter that the pressures against assimilation today are not strong. In this working paper, Senior Scholar Joel Perlmann and Research […] -
Working Paper No. 167
Money, Finance, and National Income Determination
Traditional economic models have largely failed to account adequately for the roles of money and finance in economic operations. For example, traditional models assume an exogenously determined, fixed money stock and ignore the outcomes of spending changes that result from changes in bank loans. As such, traditional models take place outside of historical time and […] -
Working Paper
The Minimum Wage and the Path Toward a High Wage Economy
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Report No. 3Report June 1996
Speaking at the Levy Institute’s sixth annual conference on the financial structure, summarized in this issue, Federal Reserve Governor Janet L. Yellen expresses concern that financial innovation has complicated regulating traditional measures of financial soundness. Contents: Annual Conference on Employment * Sixth Annual Conference on the Financial Structure * Forums: Immigration and Ethnicity * The […] -
Press Release
Capital Gains Tax Cut Will Not Spur Substantial Investment and Economic Growth, New Study Shows
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Working Paper No. 166
The Minimum Wage and the Path towards a High Wage Economy
According to Resident Scholar Oren M. Levin-Waldman, the arguments both in favor of raising the minimum wage (to restore its real spending power to levels of previous years, to increase the incentive to work, and, as a matter of fairness, to allow those who work to earn incomes above the poverty line) and against raising […] -
Working Paper No. 165
Economic Insecurity and the Institutional Prerequisites for Successful Capitalism
In this working paper, Distinguished Scholar Hyman P. Minsky and Visiting Scholar Charles Whalen search for reasons to account for the split in post-World War II economic performance—that is, the difference in performance between the 1946–66 period and the 1966–96 period. The authors discuss a number of economic problems that have arisen during the past […]