We examine patterns of indebtedness in the Panel Study of Income Dynamics, focusing on the period surrounding the housing bubble and its aftermath (i.e. 1999-2009). Leverage increased most quickly among lower income households during this period. We findnd that leverage grew faster for...

We examine the importance of what we term ‘Fisher dynamics’- the mechanical e?ects of changes in interest rates, growth rates and in?ation rates on debt levels independent of borrowing -for the evolution of household debt in the U.S. over a long time horizon (1929- 2011). Adapting a standard...

We use two distinct panel datasets to extract and examine data on the labor share of output. From the first, we examine trends in the economy-wide labor share and from the second, we examine trends in the labor share of the manufacturing sector over the last three decades. Both datasets show...

This paper assesses class based preferences towards anti-inflationary and anti-unemployment policy. Using a consistent cross-country social survey, I find that the working class broadly defined, and those with lower occupational skill and status are more likely to prioritize combating...

As a background paper to Jayadev and Bowles (2006), this paper provides details on our measure of guard labor as we measure these in labor units. Data from the United States indicate a significant increase in its extent in the U.S. over the period 1890 to the present. Cross-national comparisons...

This paper seeks to critically examine recent debates on global governance, albeit from a human development perspective. In doing so it identifies and describes two important principles for building institutions for the advancing of human development: what may be termed the imperative of...

We examine patterns of indebtedness in the Panel Study of Income Dynamics, focusing on the period surrounding the housing bubble and its aftermath (i.e. 1999-2009). Leverage increased most quickly among lower income households during this period. We findnd that leverage grew faster for...