Found 457 article(s) in category 'Fiscal Policy'

Larry Summers: The prospect of Donald Trump being president is the gravest threat to America

Larry Summers: The prospect of Donald Trump being president is the gravest threat to America, April 14, 2016, Video. “Former Treasury Secretary Larry Summers spoke at the International Monetary Fund on Wednesday, warning against austerity measures amid a tepid economy.  Yahoo Finance sat down with him to get little more color on the economy and to find out what keeps him up most at night.  “I think the prospect of Donald Trump being President would be the gravest threat to our prosperity, our security, and our freedom in my adult lifetime,” Summers said. “That’s the thing I would worry most about.”Link

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Billionaires against Big Business: Growing Tensions in the Republican Party Coalition

Billionaires against Big Business: Growing Tensions in the Republican Party Coalition. Theda Skocpol, April 8, 2016, Paper. “As the Republican Party has shifted further to the right, policy battles have broken out between business associations and conservative groups. We use data from Congressional scorecards issued between 2007 and 2014 to analyze areas of policy divergence and convergence between two major organized players in the GOP coalition: the U.S. Chamber of Commerce and the increasingly comprehensive and assertive political network orchestrated by libertarian multibillionaires Charles and David Koch. We show that policy splits have widened and pinpoint the issue areas where free-market advocacy by the Koch network converges with or differs from the business-friendly menu of policies promoted by the U.S. Chamber. Our findings inform research on ideological polarization and associated shifts in party coalitions. They also illuminate the political reverberations of rising economic inequality, making it clear that the goals and strategies of very wealthy individuals may not be fully aligned with those pursued by business associations.Link

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Competitiveness and Growth Policy Design

Competitiveness and Growth Policy Design. Philippe Aghion, March 22, 2016, Book Chapter. “After decades during which governments in developed countries would privilege domestic demand as a main driver of economic growth, the advent of globalisation has forced governments to increasingly turn their attention to the competitiveness of the domestic economy, i.e. the extent to which a country can export its production abroad and thereby ‘exchange goods and services in which it is abundant for goods and services that it lacks’.Link

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Discovering and Explaining Systematic Bias and Nontransparency in US Social Security Administration Forecasts

Discovering and Explaining Systematic Bias and Nontransparency in US Social Security Administration Forecasts. Gary King, March 18, 2016, Paper. “Some data shared: in difficult, disorganized, non-automated formats Some impossible to share: informal, qualitative methods; eg, committees choosing huge numbers of adjustable parameters Much could be shared but is not (with the public, the scientific community, US …Link

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A Conversation With Robert D. Putnam

A Conversation With Robert D. Putnam. Robert Putnam, March 16, 2016, Video. “A best-selling author and professor at the Harvard Kennedy School, Robert Putnam is one of America’s leading political scientists. In recent years, he has written widely on the decline in America’s civic life, and, with it, our capacity for self-government. In this conversation, Putnam discusses his research on declining levels of civic participation in America and presents his interpretation of the reasons for it. Putnam also recalls how actual political developments awakened his interest in political science, and explains how social science might help us address public policy problems,” writes the Foundation for Constitutional Government, the sponsor of the series.Link

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Who’s Right on US Financial Reform?

Who’s Right on US Financial Reform? Jeffrey Frankel, February 24, 2016, Opinion. “Eight years after triggering a crisis that nearly brought down the global financial system, the United States remains plagued by confusion about what reforms are needed to prevent it from happening again. As Americans prepare to choose their next president, a better understanding of the policy changes that would minimize the risk of future crises – and which politicians are most likely to implement them – is urgently needed.Link

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Institutions, Institutional Change and Economic Performance in Emerging Markets

Institutions, Institutional Change and Economic Performance in Emerging Markets. Lakshmi Iyer, 2016, Book. “Emerging markets play an increasingly important role in the global economy, accounting for 31% of global GDP and more than 50% of global foreign direct investment in 2012. However, doing business in emerging markets remains subject to a high degree of “policy risk,” namely the risk that a government will discriminatorily change the laws, regulations, or contracts governing an investment — or will fail to enforce them — in a way that reduces an investor’s financial returns …Link

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The Hypocrisy of European Moralism: Greece and the Politics of Cultural Aggression – Part 1

The Hypocrisy of European Moralism: Greece and the Politics of Cultural Aggression – Part 1. Michael Herzfeld, February 2016, Paper. “In the current debt crisis, Greeks often stand accused of irresponsible borrowing, corruption, and laziness. In this article, I argue that the patently unfair way in which these stereotypes have framed the ongoing tensions between Greece and the other European countries is deeply grounded in the dynamics of “crypto-colonialism.” German fascination with ancient Greece has combined with the needs of British, French, and, later, American strategic interests to produce a toxic brew of humiliation and contempt for the Greek people of today.Link

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Fiscal Rules and Sovereign Default

Fiscal Rules and Sovereign Default. Laura Alfaro, February 2016, Paper. “We provide a quantitative analysis of fiscal rules in a standard model of sovereign debt accumulation and default, modified to incorporate quasi-hyperbolic preferences. For reasons of political economy or aggregation of citizens’ preferences, government preferences are present biased, resulting in over accumulation of debt. A quantitative exercise calibrated to Brazil finds welfare gains of the optimal fiscal policy to be economically substantial, and the optimal rule to not entail a countercyclical fiscal policy.Link

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Infrastructure, Incentives and Institutions

Infrastructure, Incentives and Institutions. Edward Glaeser, January 2016, Paper. “Cities generate negative, as well as positive, externalities; addressing those externalities requires both infrastructure and institutions. Providing clean water and removing refuse requires water and sewer pipes, but the urban poor are often unwilling to pay for the costs of that piping. Standard welfare economics teaches us that either subsidies or Pigouvian fines can solve that problem, but both solution are problematic when institutions are weak. Subsidies lead to waste and corruption; fines lead to extortion of the innocent. Zambia has attempted to solve its problem with subsidies alone, but the subsidies have been too small to solve the “last-mile problem” and so most poor households remain unconnected to the water and sewer system. In nineteenth-century New York, subsidies also proved insufficient and were largely replaced by a penalty-based system … Link

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