Research At SCEPA
Savings from Top Incomes and Accumulation in the United States Context
WORKING PAPER | This paper proposes that high savings out of top incomes contributed to the steady wealth income ratio amongst US households.
Laying the Groundwork for More Efficient Retirement Savings
RELAB ARTICLE | Better designed retirement savings incentives that target lower-income workers would make a real difference in workers’ retirement preparedness.
Tax Breaks for Retirement Savings
BRIEF | SCEPA's Teresa Ghilarducci and the Center for American Progress' Christian Weller recommend improving retirement savings incentives.
Fastest Growing Cities Have Higher than Average Unemployment for Older Workers
BRIEF | Economic growth can be a rising tide to lift all boats, so we are told. Advocates for cutting Social Security benefits by raising the retirement age imply that economic growth will create jobs for older workers left to work longer.
Global Development Goals: If At All, Why, When and How?
WORKING PAPER | We raise some basic conceptual questions regarding global development goals: Why have them at all? What function, if any, might they serve, and under what conditions could they do so successfully?
Unemployment Rate for Workers 55-64 Underestimates Slack in Labor Market
BRIEF | The Department of Labor today announced the September unemployment rate for workers between the ages of 55-64 was 3.6%.
Game Changers in the Oil Industry
WORKING PAPER | The shale industry’s poor market position is due to both external market forces and questionable business practices.
Reconstructing Keynesian Macroeconomics
BOOK ANNOUNCEMENT | SCEPA Economist Willi Semmler published a new book, Reconstructing Keynesian Macroeconomics Volume 3…
Time Variation in the Size of the Multiplier
WORKING PAPER | This paper contributes to the theory of the time-varying multiplier.
Path Dependency
WORKING PAPER | Path dependency is defined, and three different specific concepts of path dependency – cumulative causation, lock in, and hysteresis – are analyzed.
A Topic Model on the Economic Orientation of Sociology
WORKING PAPER | This paper tests the conventional story that since the birth of the discipline of sociology, the economic orientation of the discipline has peaked twice: 1890-1920 and sometime after 1985.
Top 10 Worst Cities to Find a Job if You are Over 55
BRIEF | The U.S. Department of Labor today announced a slight increase for the unemployment rate for older workers (aged 55 and over) from 3.7% to 3.8% in August.
A Simple Analytical Model of the Adverse Real Effects of Inflation
WORKING PAPER | The essential insight advanced in this paper is that the claim that inflation can impair growth makes most sense in the context of a monetary production economy.
Real and Financial Crises in the Keynes-Kalecki Structuralist Model
WORKING PAPER | This paper shows how Keynes-Kalecki Structuralist models might benefit from agent-based microfoundations without sacrificing traditional macroeconomic themes.
Workers Over 62 Without College Struggle in Today's Labor Market
BRIEF | Presidential candidate Chris Christie used the GOP presidential debate to repeat his call to cut Social Security benefits by increasing the retirement age.
Methodological, Internal and Ontological Inconsistencies in Post-Keynesian Theory
WORKING PAPER | A methodological inconsistency arises from presenting macroeconomic arguments formally and microeconomic arguments verbally.
Monetary Policy, Model Uncertainty, and ‘Policy Model Complacency’
WORKING PAPER | The question addressed in this paper is: can monetary policy succeed in stabilizing the economy even when the policy model on which it is predicated is mis-specified?
On Joan Robinson’s Abandonment of Exploitation
WORKING PAPER | This paper explains the Joan Robinson's abandonment of discussing exploitation in The Accumulation of Capital.
The Myth of Self-Financing
WORKING PAPER | The framing of the redevelopment of Manhattan's Hudson Yards as a self-financed project hides the public trade-offs.
A Statistical Equilibrium Approach to the Distribution of Profit Rates
WORKING PAPER | This working paper builds on Farjoun and Machover's probabilistic approach to understand the distribution of firm level profit rates.