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Working Paper No. 980Balance Sheet Effects of a Currency Devaluation
December 01, 2020 This working paper empirically and theoretically analyzes the exchange rate’s role in Mexico’s development for the period 2004–19. We test the hypothesis of the re(emergence) of the balance sheet effect...more Publication -
Working Paper No. 979
Is It Time to Eliminate Federal Corporate Income Taxes?
November 20, 2020 As the nation is experiencing the need for ever-increasing government expenditures to address COVID-19 disruptions, rebuild the nation’s infrastructure, and many other worthy causes, conventional thinking calls for restoring at...more Publication -
Working Paper No. 978
Potential Impact of Daycare Closures on Parental Child Caregiving in Turkey
November 16, 2020 Daycares closed on March 16, 2020 in Turkey to prevent the spread of COVID-19. At the same time, the two most common nonparental childcare arrangements in Turkey—care of children by...more Publication -
Working Paper No. 977
A Note Concerning Government Bond Yields
November 16, 2020 This paper relates Keynes’s discussions of money, the state theory of money, financial markets, investors’ expectations, uncertainty, and liquidity preference to the dynamics of government bond yields for countries with...more Publication -
Working Paper No. 976
The Palestinian Labor Market over the Last Three Decades
November 11, 2020 This paper consists of three economic literature review essays that survey the Palestinian labor market during the last three decades. The first essay examines the economic return to schooling since...more Publication -
Working Paper No. 975
Argentina’s (Macroeconomic?) Trap
November 05, 2020 The Argentinean economy has just ended another lost decade. After the peak registered in 2011, the per capita GDP has oscillated with a decreasing trend, leaving the economy poorer than...more Publication -
Policy Note No. 6Alternative Macro Policy Response for a Pandemic Recession
October 15, 2020 As COVID-19 infection and test positivity rates rise in the United States and federal stimulus plans expire, Senior Scholar Jan Kregel articulates an alternative approach to analyzing the economic problems...more Publication -
Strategic AnalysisWhen Will Italy Recover?
October 06, 2020 Italy was the first European country to be impacted by COVID-19, rapidly overwhelming healthcare facilities in some areas and prompting the government to shut down nonessential economic activities, with an...more Publication -
Working Paper No. 974
The General Theory as “Depression Economics”?
October 05, 2020 This paper revisits Keynes’s writings from Indian Currency and Finance (1913) to The General Theory (1936) with a focus on financial instability. The analysis reveals Keynes’s astute concerns about the...more Publication -
Working Paper No. 973
The Trade-off between Inflation and Unemployment in an MMT World
October 01, 2020 This paper is focused on Modern Monetary Theory’s (MMT) treatment of inflation from an open economy perspective. It analyzes how the inflation process is explained within the MMT framework and...more Publication -
Working Paper No. 972
In the Long Run We Are All Herd
September 30, 2020 Since the 2008 crisis, the economics literature has shown a renewed interest in Keynes’s “beauty contest” (BC) as a fundamental aspect of the functioning of financial markets. We argue that...more Publication -
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Working Paper No. 971
Ecology, Economics, and Network Dynamics
September 28, 2020 In a seminal 1972 paper, Robert M. May asked: “Will a Large Complex System Be Stable?” and argued that stability (of a broad class of random linear systems) decreases with...more Publication -
Working Paper No. 970
Quality of Match for Statistical Matches Used in the Development of the Levy Institute Measure of Time and Consumption Poverty (LIMTCP) for Ethiopia and South Africa
September 25, 2020 This paper presents a description of the quality of match of the statistical matches used in the Levy Institute Measure of Time and Consumption Poverty (LIMTCP) estimates prepared for Ethiopia...more Publication -
Working Paper No. 969
The Empirics of UK Gilts’ Yields
September 24, 2020 This paper analyzes the nominal yields of UK gilt-edged securities (“gilts”) based on a Keynesian perspective, which holds that the short-term interest rate is the primary driver of the long-term...more Publication -
Working Paper No. 968
The COVID-19 Crisis
September 14, 2020 The COVID-19 crisis paralyzed huge parts of the planet in weeks. It not only infected the population but injected a gargantuan dose of uncertainty into the system. In that regard,...more Publication -
Working Paper No. 967
Quality of Statistical Match Used in the Estimation of the Levy Institute Measure of Time and Income Poverty (LIMTIP) for Italy 2008 and 2014 and Preliminary Results
September 07, 2020 This paper assesses the quality of the statistical matching used in the LIMTIP estimates for Italy for 2008 and 2014. The match combines the 2008–9 and 2013–14 Italian Time Use...more Publication -
Public Policy Brief No. 153Multidimensional Inequality and COVID-19 in Brazil
September 04, 2020 After spending over 6 percent of GDP responding to the COVID-19 crisis, Brazil has suffered among the worst per capita numbers in the world in terms of cases and deaths....more Publication -
One-Pager No. 64Moral Hazard and the State Budget Crisis
August 19, 2020 As congressional negotiations stall and state governments are poised to enact significant austerity, Alex Williams argues that fiscal aid to state governments should be tied to economic indicators rather than...more Publication -
Public Policy Brief No. 152
Moral Hazard in a Modern Federation
August 10, 2020 The mainstream fiscal federalism literature has led to an instinctive belief that states receiving fiscal aid during a recession are taking advantage of the federal government in pursuit of localized...more Publication -
Working Paper No. 966
Developing a Macro-Micro Model for Analyzing Gender Impacts of Public Policy
August 03, 2020 This paper discusses new methods of combined macro-micro analysis of labor demand and supply to investigate the gender impacts of public policy. In particular it examines how studies have used...more Publication -
Working Paper No. 965
First Palestinian Intifada and Intergenerational Transmission of Human Capital
July 28, 2020 This paper attempts to estimate the intergenerational transmission of human capital in Palestine. The main question is whether formal parental education improves their offspring’s cognitive skills and school achievements. I...more Publication -
Working Paper No. 964
Budget Credibility of Subnational Governments
July 27, 2020 Budget credibility, or the ability of governments to accurately forecast macro-fiscal variables, is crucial for effective public finance management. Fiscal marksmanship analysis captures the extent of errors in the budgetary...more Publication -
Working Paper No. 963
The Early Impact of COVID-19 on Job Losses among Black Women in the United States
July 16, 2020 The COVID-19 pandemic seemingly appeared out of nowhere but changed nearly everything. As the pandemic unfolded, industries deemed nonessential were leveled. Many occupations in these industries are low-wage, and women...more Publication