The Great Recession had a tremendous impact on low-income Americans, in particular black and Latino Americans. The losses in terms of employment and earnings are matched only by the losses in terms of real wealth. In many ways, however, these losses are merely a continuation of trends that have...

Using 136 United States macroeconomic indicators from 1973 to 2017, and a factor augmented vector autoregression (FAVAR) framework with sign restrictions, we investigate the effects of three structural macroeconomic shocks - monetary, demand, and supply - on the labour market outcomes of black...

Deeply rooted historical patterns allow us to make a corre­lation between imprisonment and unemployment and the mar­ginalization of blacks. This paper examines the interrelationships among criminal activity, punishment, and cycles of the economic system based on the influence of political and...

This book investigates three sets of questions raised by the economic downturn, corresponding to the three sections of the book. The first concerns issues of ethics and social responsibility in economic policymaking and in business and finance; how the costs of the downturn have fallen within the...