This paper examines a broad set of alternative temporal cross- section specifications of the demand for money as a means of estimating the degree of substitution between demand deposits and other liquid assets. Despite differences in data bases, model specifications and estimation techniques,...

Who bears the burden of the corporate income tax has been a topic of considerable discussion—and disagreement—among economists. Analyses within a post Keynesian framework have not, however, been included in the most widely cited literature surveys. In this working paper, Anthony J. Laramie...

This evolutionary paper traces the interaction of monetary and fiscal policy, assuming lag reserve accounting in a fiat monetary system. It illustrates: Sovereign debt functions as interest rate support. Taxes function to create a demand for federal spending. The myth of the money multiplier....

The upward mobility of Jews who migrated to the United States at the turn of the nineteenth century has been explained as a function of premigrational cultural characteristics (such as a tradition of learning) or structural attributes (skills in certain industries and occupations that could be...

The object of this paper is to develop an Early Warning System of Macro Vulnerability for several Latin American countries based on previous work of Kaminsky, Lizondo and Reinhart (1997) and Kaminsky (1998). We build a composite leading indicator that signals macroeconomic vulnerability, showing...

The links between commodity prices, interst rates, wages, and the exchange rate of the U.S. dollar with consumer prices is investigated. An ARIMA transfer function methodology is employed. Sample data are from January 1972 to December 1988. Although model diagnsotics are relatively good,...

This paper reviews the general tenets of 'stock-flow consistent' and the 'formal Minskyan' literatures and argues that the advantages and weaknesses of the latter become clearer when analyzed with the tools of the former. It also analyzes a small but representative and influential sample of...

Three styles of explanation have been advanced by economists seeking to account for the so-called 'productivity paradox'. The coincidence of a persisting slowdown in the growth of measured total factor productivity (TFP) in the US, since the mid-1970's, with the wave of information technology...

This paper presents new evidence on the dynamics of dollarization and euroization for twenty-five transition countries. Estimates of the amount of foreign currency in circulation (FCC) in transition countries are used to develop a new comprehensive dollarization index (CDI) and separate indices...

The paper begins by a brief review of the main ideas associated with Hyman Minsky and their implications for economic policy and the achievement of full employment. There is a focus on the financial instability hypothesis, the role of the central bank as lender of last resort and the...