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

Productivity and Selection of Human Capital with Machine Learning

Productivity and Selection of Human Capital with Machine Learning. Michael Luca, Sendhil Mullainathan, 2016, Paper. “Economists have become increasingly interested in studying the nature of production functions in social policy applications, Y = f(L, K), with the goal of improving productivity. For example what is the effect on student learning from hiring an additional teacher, ∂Y/∂L, in theory (Lazear, 2001) or in practice (Krueger, 2003)? What is the effect of hiring one more police officer (Levitt, 1997)?Link

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Global Social Protection: Setting the Agenda

Global Social Protection: Setting the Agenda. Jocelyn Viterna, 2015, Paper, “In todays’ world, more than 220 million people live in a country that is not their own. Many people live transnational lives but the social contract between citizen and state is national. How are people on the move protected and provided for in this new global context? Have institutional sources of social welfare begun to cross borders to meet the needs of transnational individuals? This paper proposes a new Global Social Protection (GSP) research agenda, summarizing what we know and what we need to do moving forward. What protections exist for migrants, how are the organized across borders, who can access them and who gets left out? .Link

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On Interesting Policymakers

On Interesting Policymakers. Cass Sunstein, November 2015, Opinion. “If a nation created a Council of Psychological Science Advisers, what would it do? The closest analogy in the United States, of course, is the Council of Economic Advisers (CEA), whose advice often matters a great deal. The reason is not typically that the CEA offers interesting or novel academic findings. It is that public officials want to solve concrete policy problems, and the CEA (and other economists, found throughout the national government) can help them to do so. Suppose that the President of the United States wants his advisors to decide whether to adopt a “cash for clunkers” program, by which the government provides money to subsidize people who trade in their old vehicles for new ones. If the President seeks to stimulate the economy, and also to produce environmental improvements, economists will provide indispensable guidance (above all by projecting the results of the program with a useful cost–benefit analysis).Link

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A Strategy to Promote Affordable Housing for All Americans By Recapitalizing Fannie Mae and Freddie Mac

A Strategy to Promote Affordable Housing for All Americans By Recapitalizing Fannie Mae and Freddie Mac. Elaine Kamarck, November 2015, Paper. “From 1938 to the financial crisis of 2008-2009, the Federal National Mortgage Association (Fannie Mae), joined in 1970 by the Federal Home Loan Mortgage Corporation (Freddie Mac), supported steady, strong increases in home ownership and access to affordable housing for millions of Americans. The share of American households owning their own home increased from less than 43% in 1940 to more than 69% in 2005, at which time Fannie and Freddie owned or …” Link

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U.S. Debt Prioritization Won’t Work

U.S. Debt Prioritization Won’t Work. Lawrence Summers, October 21, 2015, Video. “Harvard University President Emeritus Lawrence Summers talks with Betty Liu about the nation’s looming debt ceiling limit, the strength of the U.S. economy and the threat of a recession and the public and private investment in the United States. He speaks at the Creating Long-Term Value event hosted by the Center for American Progress on Bloomberg Markets.Link

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Larry Summers: Fixing America’s roads would essentially pay for itself

Larry Summers: Fixing America’s roads would essentially pay for itself. Lawrence Summers, October 13, 2015, Opinion. “There are many compelling arguments for increasing American infrastructure investment. Capital costs are exceptionally low. Construction labor is highly available. Materials costs are low as commodity prices have fallen. Investment is low by historic standards. Investing today relieves the burden of deferred maintenance for future generations. Here is another one. Maintaining our infrastructure directly benefits American families and businesses because with fewer potholes they have to spend less maintaining their vehicles…Link

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A Tax Boon for Working Women

A Tax Boon for Working Women. Martin Feldstein, October 5, 2015, Opinion. “The U.S. tax code is unfair to women who work. It also discourages women from working and from obtaining the skills that would lead to higher wages. In addition, there is a ‘marriage penalty’ for many working couples with either very low incomes or very high incomes who face a tax increase if they marry. The tax plan released last month by Republican presidential candidate Jeb Bush would correct these unfair rules…Link

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Does Welfare Reduce Poverty?

Does Welfare Reduce Poverty? George Borjas, October 2015, Paper. “The Personal Responsibility and Work Opportunity Reconciliation Act of 1996 made fundamental changes in the federal system of public assistance in the United States, and specifically limited the eligibility of immigrant households to receive many types of aid. Many states chose to protect their immigrant populations from the presumed adverse effects of welfare reform by offering state-funded assistance to these groups. I exploit these changes in eligibility rules to examine the link between welfare and poverty rates in the immigrant population…Link

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The Effects of Austerity: Recent Research

The Effects of Austerity: Recent Research. Alberto Alesina, October 2015, Paper. “What are the costs in terms of output losses of so-called “austerity” policies designed to reduce large government deficits and mounting public debt? The debate on this issue is raging, especially after the latest round of austerity in Europe.  The question is difficult to answer for at least three reasons. The first is “endogeneity,” the two-way interaction between fiscal policy and output growth. Suppose you observe a reduction in the government deficit and an economic boom. It would be highly questionable to conclude that deficit reduction policies generate growth…Link

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