Report June 2004

In this issue, Senior Scholar L. Randall Wray’s comments on President Bush’s tax relief and spending stimulus, and all that red ink.

Contents: Comment, “Greenspan and All That Red Ink” * New Strategic Analysis, “Is Deficit-Financed Growth Limited? Policies and Prospects in an Election Year” * New Policy Note, “Inflation Targeting and the Natural Rate of Unemployment” * New Working Papers, “Does Financial Structure Matter?,” “Fiscal Consolidation: Contrasting Strategies and Lessons from International Experiences,” “Borrowing Alone: The Theory and Policy Implications of the Commodification of Finance,” “A Post-Keynesian Stock-Flow Consistent Macroeconomic Growth Model: Preliminary Results,” “A Stock-Flow Consistent General Framework for Formal Minskyan Analysis of Closed Economies,” “The ‘War on Poverty’ after 40 Years: A Minskyan Assessment” * Levy Institute News, “Upcoming Event,” “14th Annual Hyman P. Minsky Conference” * Publications And Presentations, “Publications and Presentations by Levy Institute Scholars,” “Recent Levy Institute Publications”