We present new estimates of the rentier share of national income for OECD countries for the years between 1960 and 2000. For most countries, the rentier share of income significantly increased during the last several decades, starting in the early 1980's and coinciding with the shift to...

This paper presents individual country notes for the paper "Trends in Rentier Shares in OECD Countries, 1966-2000 (Power, Epstein and Abrena, 2003). Meant for the specialist, these notes explain data sources and methods for each country in our sample.

This paper presents the first set of estimates of the rentier share of income for twenty-nine OECD countries. We define rentier share to mean the income accruing to financial institutions and the holders of financial assets. The years of coverage vary by country, but span the period 1960-2000....

It is now clear that we are in the midst of the worst financial crisis since the Great Depression. This crisis is the latest phase of the evolution of financial markets under the radical financial deregulation process that began in the late 1970s. This evolution has taken the form of cycles in...

Inflation targeting (IT) has recently become the dominant monetary policy prescription for both developing and industrialized countries alike. Emerging market governments, in particular, are increasingly pressured to follow IT as part of their International Monetary Fund (IMF)-led stabilization...

This paper uses the term, capital management techniques, to refer to two complementary (and often overlapping) types of financial policies: policies that govern international private capital flows and those that enforce prudential management of domestic financial institutions. The paper shows...

Modern financial markets and institutions have grown massively in relation to the economy in the United States and elsewhere, and there is little evidence that in recent years their contributions to economic and social output justify the resources they capture and the risks they impose on...

The ongoing Great Financial Crisis that began in 2007–2008 has dramatically called into question the previously dominant neoliberal approach to macroeconomic and financial policy. Unfortunately, these lessons are being learned in a highly uneven manner – and in some important...

The Dodd-Frank Wall Street Reform and Consumer Protection Act in July 2010 is the most ambitious measure aimed at regulating U.S. financial markets since the Glass-Steagall Act was implemented in the midst of the 1930s Depression.  However, it remains an open question as to whether Dodd-Frank...