The Central Bank of the United States, the Federal Reserve, has a dual mandate to maintain both full employment and price stability. However, inflation-fighting had always eclipsed the full employment objective without much accountability. Today, the Federal Reserve provides regular testimony...

Using a VAR model of the American economy from 1984 to 2003, we find that, contrary to official claims, the Federal Reserve does not target inflation or react to inflation signals." Rather, the Fed reacts to the very real" signal sent by unemployment, in a way that suggests that a baseless fear...

This paper summarizes a comprehensive revision and update of UTIP's work on the inequality of pay and incomes around the world, from 1963 to 2008. The new UTIP-UNIDO (University of Texas Inequality Project-United Nations Industrial Development Organization) dataset of industrial pay inequality...

To come up with a theory that explains inequality and that has common application across many countries, we need measurements of inequality across countries and through time that are reasonably comprehensive and reasonably reliable — and this is a major challenge. For most countries in the...

Unemployment in the European Union (EU) is a serious problem that threatens to disrupt the integration of accession countries, the character of individual countries, and the continued existence of the EU. European integration poses a huge conundrum for European employment because the...