Did the presence of immigrant workers in the United States labor market—including both documented and undocumented workers—significantly affect conditions for low-wage native workers during the Great Recession of 2008-09?   Building from the methodology developed by Card (2005), our basic...

This paper examines three sets of major questions regarding the current US government's fiscal deficit and outstanding debt, tied to the 2009 economic stimulus programme, the American Recovery and Reinvestment Act (ARRA). First, I consider the claim that high levels of government borrowing drive...

Full employment used to be an explicit goal of economic policy in most of the industrialized world. Some countries even achieved it. In Back to Full Employment, economist Robert Pollin argues that the United States--today faced with its highest level of unemployment since the Great...

Wall Street hyper-speculation brought the global economy to its knees in 2008-09.  To prevent a 1930s-level Depression at that time, economic policymakers throughout the world enacted extraordinary measures.  These included large-scale fiscal stimulus programs, financed by major expansions in...

The Kenyan economy has experienced improved economic growth in recent years, and the government has maintained a commitment to generating 500,000 new jobs per year. But the country still faces severe problems of poverty-level employment – people working full-time yet living with their families...

The idea of an exogenous money supply—controlled entirely through central bank interventions—was a fundamental tenet of monetarism and New Classical economics. Post Keynesians have developed an extensive literature arguing that the money supply is in fact endogenous—that market forces...

This paper presents new non-linear regression estimates of the relationship between inflation and economic growth for 80 countries over the period 1961 – 2000. We perform tests using the full sample of countries as well as sub-samples consisting of OECD countries, middle-income countries, and...