Levy Institute Advanced Research in Economic Policy

The aim of this series is to provide scholars, academics, public officials and private sector executives with cutting edge research and analysis of government actions that influence the economy. These actions include central bank policy on interest rates, regulation of financial institutions and markets to prevent instability, and other economic policies affecting aggregate demand and employment. Volumes in this series explore theoretical macroeconomic modeling and analysis, and empirical investigations of policy outcomes. They will provide a rigorous examination of economic policy options. By advancing the understanding of economic policy issues and improving the decision making process, this series fulfills its ultimate purpose - serving the wider policymaking community in the United States and the rest of the world.