Search

">

Filter by

4182 results found

Working Paper No. 931
How to Pay for the Green New Deal
This paper follows the methodology developed by J. M. Keynes in his How to Pay for the War pamphlet to estimate the “costs” of the Green New Deal (GND) in terms of resource requirements. Instead of simply adding up estimates of the government spending that would be required, we assess resource availability that can be […]
OpEd: Don’t let politics derail Greece’s economic recovery
Working Paper No. 930
A Semi-Parametric Approach to the Oaxaca-Blinder Decomposition with Continuous Group Variable and Self-Selection
This paper describes the application of a semiparametric approach, known as a varying coefficients model (Hastie and Tibshirani 1993), to implement a Oaxaca-Blinder type of decomposition in the presence of self-selection into treatment groups for a continuum of comparison groups. The flexibility of this methodology may allow for detecting heterogeneity of the role of endowment […]
Working Paper No. 929
When to Ease Off the Brakes (and Hopefully Prevent Recessions)
Increases in the federal funds rate aimed at stabilizing the economy have inevitably been followed by recessions. Recently, peaks in the federal funds rate have occurred 6–16 months before the start of recessions; reductions in interest rates apparently occurred too late to prevent those recessions. Potential leading indicators include measures of labor productivity, labor utilization, […]
Policy Notes No. 2
Global Imbalances and the Trade War
Against the background of an ongoing trade dispute between the United States and China, Senior Scholar Jan Kregel analyzes the potential for achieving international adjustment without producing a negative impact on national and global growth. Once the structure of trade in the current international system is understood (with its global production chains and large imbalances […]
Working Paper No. 928
Democratizing Money
In the Western interpretation of democracy, governments exist in order to manage relations of property, with absence of property ownership leading to exclusion from participation in governance and, in many cases, absence of equal treatment before the law. Democratizing money will therefore ensure equal opportunity to the ownership of property, and thus full participation in […]
Press Release
Entrepreneur and Investor Mostafiz ShahMohammed ’97 Appointed to Levy Economics Institute Board of Governors
Press Release
Longstanding Structural Problems, Including Increasing Income Inequality, Put U.S. Economy at Risk for Recession, New Levy Economics Institute Study Suggests
Working Paper No. 927
Recentered Influence Functions in Stata
Recentered influence functions (RIFs) are statistical tools popularized by Firpo, Fortin, and Lemieux (2009) for analyzing unconditional partial effects on quantiles in a regression analysis framework (unconditional quantile regressions). The flexibility and simplicity of these tools has opened the possibility of extending the analysis to other distributional statistics using linear regressions or decomposition approaches. In […]
Working Paper No. 926
Fiscal Stabilization in the United States
The debate about the use of fiscal instruments for macroeconomic stabilization has regained prominence in the aftermath of the Great Recession, and the experience of a monetary union equipped with fiscal shock absorbers, such as the United States, has often been a reference. This paper enhances our knowledge about the degree of macroeconomic stabilization achieved […]
One-Pager No. 59
The Limitations of the “Populism” Explanation
Some common accounts of “populism” and its causes risk leading us away from understanding what is happening today in parts of the democratic West, according to Senior Scholar Joel Perlmann. He cautions that economic insecurity may well be a common source of populism, but such insecurity is too prevalent and too diverse to be tied […]
Fed’s Bullard says economic data should improve, yield curve steepen in coming months