According to Shull, although the recent round of banking legislation--most notably the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) and the Federal Deposit Insurance Corporation Improvement Act (FDICIA)--did take steps toward preventing financial crises, it did not go...

Barbera and Levy offer contrasting assessments of the U.S. economy of the late 1980s and early 1990s. Barbera suggests that the behavior of the economy was typical for the early part of a recessionary stage in a standard business cycle: Policymakers and business leaders, believing the downturn...

Recent survey results and anecdotal evidence appear to indicate that workers sometimes sacrifice job opportunities by remaining in their current position in order to retain health benefits. If "job-lock" is real, the nation pays an economic price in terms of a misallocation of workersamong...

The establishment of a system of federally regulated, for-profit, community development banks (CDBs) would help to fill the financial gap in areas inadequately served by traditional banks, requirements of the Community Reinvestment Act (CRA) notwithstanding. These organizations would be charged...

Kato outlines the types of human resource management practices (HRMPs) used in Japan and the effect of these employee participation programs on employee productivity and economic competitiveness. From these findings about the effects of HRMPs on Japanese productivity, Kato draws several...

The causes for the instability that has marked the financial system over past decade lie deep-in the economic theory that urges easy and efficient substitution of one piece of paper for another, in the technology-driven tight articulation of receipts and payments, and in the growth of leverage...

Both spending and tax policies have been implemented in the United States with the goal of stimulating private sector research and development (R&D). Karier questions whether current R&D policy, especially the research and experimentation tax credit, can contribute to closing the gap between...

Most recent discussions of deflation seem to overlook the main dangers posed by a deflationary economy and appear to offer superficial solutions. L. Randall Wray and Dimitri B. Papadimitriou argue in this brief that, barring drastic changes in asset and output prices, deflation itself is not the...

Condemned bridges, dilapidated school buildings, contaminated water supplies, and other infrastructure shortcomings threaten American growth, productivity, and prosperity. S Jay Levy and Walter M. Cadette propose a plan for financing infrastructure projects that is designed to have minimal...

Although the costs associated with moving an antiquated socialist economy toward its capitalist counterpart was anticipated to be significant, German industrial efficiency was expected to quickly overcome any challenges. Things turned out rather differently. Conventional wisdom blamed poor...