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Working Paper No. 912The Sources and Methods Used in the Creation of the Levy Institute Measure of Economic Well-Being for the United States, 1959–2013
This paper documents the sources of data used in the construction of the estimates of the Levy Institute Measure of Economic Wellbeing (LIMEW) for the years 1959, 1972, 1982, 1989, 1992, 1995, 2000, 2001, 2004, 2007, 2010, and 2013. It also documents the methods used to combine the various sources of data into the synthetic […] -
Working Paper No. 911
Twenty Years of the German Euro Are More than Enough
This paper reviews the performance of the euro area since the euro’s launch 20 years ago. It argues that the euro crisis has exposed existential flaws in the euro regime. Intra-area divergences and the corresponding buildup of imbalances had remained unchecked prior to the crisis. As those imbalances eventually imploded, member states were found to […] -
Working Paper No. 910
Australian Government Bonds’ Nominal Yields
The short-term interest rate is the main driver of the Commonwealth of Australia government bonds’ nominal yields. This paper empirically models the dynamics of government bonds’ nominal yields using the autoregressive distributed lag (ARDL) approach. Keynes held that the central bank exerts decisive influence on government bond yields because the central bank’s policy rate and […] -
Public Policy Brief No. 146Stagnating Economic Well-Being and Unrelenting Inequality
Ajit Zacharias, Thomas Masterson, and Fernando Rios-Avila update the Levy Institute Measure of Economic Well-Being (LIMEW) for US households for the period 2000–13. The LIMEW—which comprises base income, income from wealth, net government expenditures, and the value of household production—is aimed at achieving a more comprehensive understanding of trends in living standards. This policy brief […] -
BlogTcherneva and Wray on the Public Service Employment (PSE) Program
The job guarantee proposal fleshed out and analyzed by L. Randall Wray, Flavia Dantas, Scott Fullwiler, Pavlina Tcherneva, and Stephanie Kelton — dubbed the Public Service Employment (PSE) program — garnered a considerable amount of media attention as support for some version of a job guarantee began appearing on the agendas of various 2020 Democratic [...] -
Research Project ReportThe Measurement of Time and Consumption Poverty in Ghana and Tanzania
Time constraints that stem from the overlapping domains of paid and unpaid work are of central concern to the debates surrounding the economic development of developing countries in general and countries of sub-Saharan Africa in particular. Time deficits due to household production are especially acute in these countries due to the poor state of social […] -
Is a Job Guarantee Possible in America?
Newsy, July 6, 2018. All Rights Reserved. With recent polling showing nearly half of American support a job guarantee program, Levy Research Associate Pavlina Tcherneva speaks with Newsy’s Bianca Facchinei about the costs and benefits of guaranteed employment. Read more: https://www.newsy.com/stories/job-guarantee-bill-can-the-u-s-ensure-jobs-for-all/ -
What Is A Federal Jobs Guarantee?
Huffington Post, July 6, 2018. All Rights Reserved. Though official unemployment numbers are currently low, there are still many who feel they have been left behind. Levy Research Scholar Stephanie Kelton and the coauthors of the Levy Institute research project report “Public Service Employment: A Path to Full Employment” think the answer lies in a […] -
Working Paper No. 909
External Instability in Transition
This inquiry argues that the successful completion of the transition process in the post-Soviet economies is constrained by the prevailing social structure and low levels of technological progress, both of which require institutional reforms aimed at increasing growth in national income, productivity, and the degree of export competitiveness. Domestic policy implementation has not shown significant […] -
Press ReleaseEuropean Commission’s Sovereign Bond-Backed Securities (SBBS) Proposal Unlikely to Work and Could Undermine Financial Stability, Says New Levy Institute Study
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Americans are drowning in student-loan debt. The U.S. should forgive all of it.
Washington Post, June 19, 2018. All Rights Reserved. Katrina vanden Heuvel discusses student debt forgiveness and the recent Levy Research Project Report, “The Macroeconomic Effects of Student Debt Cancellation.” Read more: https://www.washingtonpost.com/opinions/americans-are-drowning-in-student-loan-debt-the-us-should-forgive-all-of-it/2018/06/19/82565218-7314-11e8-9780-b1dd6a09b549_story.html?utm_term=.1a2216214882 -
One-Pager No. 56An Alternative to Sovereign Bond-Backed Securities for the Euro Area
The European Commission's proposal for the regulation of sovereign bond-backed securities (SBBSs) follows the release of a high-level taskforce report, sponsored by the European Systemic Risk Board, on the feasibility of an SBBS framework. The proposal and the SBBS scheme, Mario Tonveronachi argues, would fail to yield the intended results while undermining financial stability. Tonveronachi articulates […]