After the onset of the Great Recession in 2008, commercial banks in the United States began accumulating huge cash reserves in their accounts at the Federal Reserve. By the middle of 2011, reserves had reached $1.6 trillion, more than 10 percent of US GDP, an order of magnitude for commercial...

This article first examines the question, “What is a living wage?†and provides a range of specific dollar amounts derived through a conceptual assessment of the term. It then provides a series of cost estimates of living wage laws in various cities. Based on these cost estimates, the...

This book, written by an international team of economists, develops concrete, country specific alternatives to inflation targeting, the dominant policy framework of central bank policy that focuses on keeping inflation in the low single digits to the virtual exclusion of other key goals such as...