Publications

1681 publications found

• Working Paper No. 157 May 01, 1996

  A New Facility for the IMF?

  John Williamson
  Abstract

  In this working paper, John Williamson, senior fellow at the Institute for International Economics, evaluates proposals to create a short-term financing facility within the International Monetary Fund (IMF). The emphasis in this facility would be on the period within which the IMF would respond to a request for assistance, rather than on the duration of […]

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• Book Series May 01, 1996

  Money in Motion

  Ghislain Deleplace, and Edward J. Nell
  Abstract

  In its analysis of money, contemporary economics has focused on money’s function as a store of value, neglecting its role as a medium of circulation. When circulation is put center stage, it becomes apparent that the supply of money does indeed adapt to the needs of trade, and it does so in myriad ways that […]

• Working Paper No. 165 May 01, 1996

  Economic Insecurity and the Institutional Prerequisites for Successful Capitalism

  Hyman P. Minsky, and Charles J. Whalen
  Abstract

  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 […]

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• Working Paper No. 164 May 01, 1996

  The Consumer Price Index As a Measure of Inflation

  Dimitri B. Papadimitriou, and L. Randall Wray
  Abstract

  A consensus is emerging among economists and policymakers that the consumer price index (CPI) as a measure of cost of living has an upward bias. As a result, downward revisions of cost-of- living adjustments are frequently recommended, especially in discussions about deficit reduction. Such revisions would lower the rate of increase of some entitlements and […]

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• Working Paper No. 163 May 01, 1996

  Managing Foreign Capital Flows

  Yung Chu Park, and Chi-Young Song
  Abstract

  Between 1990 and 1994, developing countries in Asia posted $261 billion in net capital inflows, an amount equivalent to about half the total inflows to all developing countries. Although foreign direct investment accounts for the largest portion of net inflows to Asia, the share of portfolio investment has been steadily rising, from an average of […]

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• Public Policy Brief No. 25 April 05, 1996

  Capital Gains Taxes and Economic Growth

  Steven M. Fazzari
  Abstract

  This brief assesses the effect of a capital gains tax cut on firms’ decisions to undertake new investment projects and the possible effect of such projects on economic growth and employment. The authors’ analysis takes into account such factors as projects’ degree of uncertainty, investors’ degree of risk aversion, whether capital gains losses are deductible […]

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• Working Paper No. 156 April 01, 1996

  Understanding the 1994 Election

  Oren Levin-Waldman
  Abstract

  The change in the composition of Congress resulting from the 1994 election was viewed by some Republicans as a “triumph of conservatism over the perceived abuses of liberalism.” In this working paper, Resident Scholar Oren Levin-Waldman examines polling data to explore whether the rejection of Congressional incumbents was a function of their perceived corruption or […]

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• Working Paper No. 155 April 01, 1996

  Uncertainty and the Institutional Structure of Capitalist Economies

  Hyman P. Minsky
  Abstract

  In this new working paper, Distinguished Scholar Hyman P. Minsky points out that capitalism in the United States is an evolving construct that recently entered a new stage: “money manager” capitalism. In money manager capitalism, nearly all businesses are organized as corporations, pension and mutual funds are the predominant owners of financial assets, and managers […]

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• Public Policy Brief No. 24 February 04, 1996

  Revisiting Bretton Woods

  Raymond F. Mikesell
  Abstract

  Raymond F. Mikesell outlines the activities of the International Monetary Fund (IMF) and the World Bank over the course of their history and evaluates the organizations’ success in meeting their original and subsequent goals. He analyzes the debate over the IMF’s role in managing the international monetary system, managing currency crises, and providing credit to […]

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• Working Paper No. 154 January 01, 1996

  Unemployment, Inflation, and the Job Structure

  James K. Galbraith
  Abstract

  In this working paper, James K. Galbraith rejects the analytical construct within which many economists currently operate—that is, the construct in which, in the extreme, macroeconomic behavior is identical to the behavior reflected in microeconomic demand and supply curves. He rejects it on the theoretical and practical grounds that microeconomic categories (supply, demand, price, and […]

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• Working Paper No. 152 December 01, 1995

  Reforming Unemployment Insurance

  Oren Levin-Waldman
  Abstract

  In this working paper Resident Research Associate Oren M. Levin-Waldman builds on earlier work (see Working Paper No. 140) to argue that the unemployment insurance (UI) system is in need of reform. At a minimum, Levin-Waldman states, the system “needs to be tightened in such a way that it results in fewer layoffs.” In addition, […]

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• Working Paper No. 151 December 01, 1995

  The Working Poor and Welfare Recipiency

  Marlene Kim, and Thanos Mergoupis
  Abstract

  Many participants in the current welfare debate assume that welfare recipients are taking unfair advantage of government programs by avoiding work. However, a growing body of research indicates that this assumption is untrue. In this working paper, Resident Scholar Marlene Kim and Thanos Mergoupis, of the Department of Economics at Rutgers University, show that many […]

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• Working Paper No. 150 December 01, 1995

  Proposals for Changing the Functions of the International Monetary Fund (IMF)

  Raymond F. Mikesell
  Abstract

  The 50th anniversary of the signing of the Articles of Agreement of the International Monetary Fund (IMF) and the World Bank was celebrated at meetings in Washington, DC: at Bretton Woods, New Hampshire; and at the Annual Meeting of the Boards of Governors of the two institutions held in Madrid. The many addresses at the […]

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• Working Paper No. 149 December 01, 1995

  Biennial Budgeting for the Federal Government

  Charles J. Whalen
  Abstract

  A two-year budget and appropriations cycle at the federal level has been endorsed by Republicans and Democrats during the past 20 years. The first congressional proposal for a federal biennial budget appeared in the late 1970s, and several others have since been submitted. There are two dominant models for a biennial budget: the stretch model, […]

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• Book Series December 01, 1995

  Income and Employment in Theory and Practice

  Geoffrey Harcourt, Alessandro Roncaglia, and Robin Rowley
  Abstract

  The essays in this volume were written by colleagues and friends of the late Athanasios (Tom) Asimakopulos. They relate to those areas to which he contributed so much in his teaching and his writings. Most of the essays are concerned with interpretations and extensions, both theoretical and empirical, of the work of Keynes, Kalecki, and […]

• Working Paper No. 153 December 01, 1995

  Technology and the Demand for Skills

  Edward N. Wolff
  Abstract

  In this working paper Research Associate Edward N. Wolff documents changes during the period 1950–90 in aggregate skill levels of the workplace. Wolff investigates skill trends at the sectoral level, paying special attention to changes in skill requirements in service and goods-producing sectors, and examines the role of technological change in changing the demand for […]

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• Working Paper No. 148 November 01, 1995

  Does an Independent Central Bank Violate Democracy?

  Joel Perlmann, and Roger Waldinger
  Abstract

  The question of central bank independence is one of degree. A completely independent central bank is impossible as long as a country has provisions for altering central bank powers, even if that requires constitutional amendments. On the other hand, any central bank has at least some discretion in monetary policy unless it is either in […]

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• Working Paper No. 147 October 01, 1995

  Capital Gains Tax Cuts, Investment, and Growth

  Steven M. Fazzari, and Benjamin Herzon
  Abstract

  No further information available.

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• Public Policy Brief No. 23 September 20, 1995

  A Critical Imbalance in US Trade

  Wynne Godley
  Abstract

  According to Wynne Godley, the significance of the deficit in the United States’ balance of payments has been underestimated in both public policy and academic discussions, despite the fact that American markets are increasingly dominated by foreign manufacturers. Godley analyzes the problem posed by the current balance of payments deficit. Breaking down the current account […]

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• Public Policy Brief No. 22 September 19, 1995

  Closing the R&D Gap

  Thomas Karier
  Abstract

  Both spending and tax policies have been implemented in the United States with the goal of stimulating private sector research and development (R&D). Thomas Karier questions whether current R&D policy, especially the research and experimentation tax credit, can contribute to closing the gap between nondefense expenditures on R&D in the United States and such expenditures […]

  Download Public Policy Brief No. 22, 1995 PDF (8.92 MB)
• Working Paper No. 146 September 01, 1995

  The Stock Market and the Corporate Sector

  Anwar M. Shaikh
  Abstract

  No further information available.

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• Working Paper No. 145 August 01, 1995

  Financial Derivatives

  Willem Thorbecke
  Abstract

  No further information available.

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• Working Paper No. 144 July 01, 1995

  The Distributional Effects of Disinflationary Monetary Policy

  Willem Thorbecke
  Abstract

  No further information available.

• Working Paper No. 143 June 01, 1995

  The Productivity Effects of Human Resource Management Practices

  Takao Kato, and Motohiro Morishima
  Abstract

  No further information available.

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