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Working Paper No. 137Closing the R&D Gap
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Working Paper No. 136
Statistical Inference via Bootstrapping for Measures of Inequality
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Public Policy Brief No. 18The Economics of Aging
S. Jay Levy presents a preliminary study of the consumption patterns of retirees and nonretirees during the 1980s, paying particular attention to the distribution of the national consumer product. The consumer product increased in aggregate size during the period, but the retirees’ portion of it grew four times faster than the working households’ share. Indeed, […] -
Working Paper No. 135
Explaining Japan’s Saving Rate
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Working Paper No. 134
Aggregate Demand and Micro Behavior
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Working Paper No. 133
Monetary Policy, Stock Returns, and the Role of Credit in the Transmission of Monetary Policy
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Working Paper No. 132
Federal Budget Balance—Tonic or Toxin?
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Public Policy Brief No. 17
Narrow Banking Reconsidered
The functional approach to reforming the financial system advocates the structural separation of the depository and lending functions of banks. As a result of such a separation, monetary and credit policy undergo a parallel separation, and government supervision and regulation of the banking industry are modified. The policy prescription developed within this approach is narrow […] -
Working Paper No. 131
The Earned Income Tax Credit and the Need to Synchronize Public Assistance Benefits
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Working Paper No. 130
Can We Afford Grandma and Grandpa?
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Working Paper No. 129
The Credibility of the Federal Reserve’s Monetary Targets
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Public Policy Brief No. 16
Infrastructure Investment for Tomorrow
The author presents a long-term public investment proposal to preserve and upgrade the nation’s infrastructure system, offering a unique financing plan to eliminate much of the backlog of deferred maintenance that plagues America’s roads and bridges. The plan would allow states and municipalities to get out from under this burden with a one-time upgrading program, […]