Found 1216 article(s) for author 'Economic Growth'

A Tax Cut Might Be Nice. But Remember the Deficit

A Tax Cut Might Be Nice. But Remember the Deficit. N. Gregory Mankiw, June 2, 2017, Opinion, “In the debate about federal tax policy, one question looms large: Should we have a tax cut that increases the budget deficit? President Trump says he wants “a massive tax cut … maybe the biggest tax cut we’ve ever had.” But the Senate majority leader, Mitch McConnell, who is clearly worried about the growing national debt, says tax reform “will have to be revenue-neutral.” The stage is set for another Republican showdown.” Link

Tags: , , , ,

Appraising the Economic Potential of Panama Policy Recommendations for Sustainable and Inclusive Growth

Appraising the Economic Potential of Panama Policy Recommendations for Sustainable and Inclusive Growth. Ricardo Hausmann, 2017, Paper, “This report aims to summarize the main findings of the project as gathered by the three baseline documents, and frame them within a coherent set of policy recommendations that can help Panama to maintain their growth momentum in time and make it more inclusive. Three elements stand out as cornerstones of our proposal: (i) attracting and retaining qualified human capital; (ii) maximizing the diffusion of know-how and knowledge spillovers, and (iii) leveraging on public-private dialog to tackle coordination problems that are hindering economic activity outside the Panama-Colón axis.Link

Tags: , , , , , ,

The Harvard Research Center in Entrepreneurial History and the Daimonic Entrepreneur

The Harvard Research Center in Entrepreneurial History and the Daimonic Entrepreneur. Sophus Reinert, 2017, Paper, “This paper sketches the intellectual history of the Research Center in Entrepreneurial History, founded at Harvard in 1948, which helped established the contours of business history as a discipline. This history was shaped by the rivalry between N. S. B. Gras, the “father of business history,” and Arthur H. Cole, which defined still extant polarities in the field of business history. It provides context for the emergence of the figure of the “entrepreneur,” conceived of as an ambiguous and potent force of creative destruction, and of entrepreneurship as business history’s preeminent and vital dynamic. The paper focuses on German émigré Fritz L. Redlich, who was central to the Center’s work, and whose “creative entrepreneur” was conceived in explicit relation to the daimon, the godlike, frighteningly ambiguous, and often destructive power of inspiration and creativity.Link

Tags: , , ,

The Development of the American Economy Program

The Development of the American Economy Program. Claudia Goldin, June 2017, Paper, “The mission of the Development of the American Economy Program is to research historical aspects of the American economy broadly defined. Its members are economic historians whose specific interests span many subfields within economics. Economic history is a distinct field, like macro, public finance, and labor, with a group of practitioners who self-identify as economic historians. Economic historians study parts of the past that are relevant to the issues of our day.Link

Tags: , , ,

The Hazards of Expert Control: Chief Risk Officers and Risky Derivatives

The Hazards of Expert Control: Chief Risk Officers and Risky Derivatives. Frank Dobbin, May 31, 2017, Paper, “At the turn of the century, regulators introduced policies to control bank risk-taking. Many banks appointed chief risk officers (CROs), yet bank holdings of new, complex, and untested financial derivatives subsequently soared. Why did banks expand use of new derivatives? We suggest that CROs encouraged the rise of new derivatives in two ways. First, we build on institutional arguments about the expert construction of compliance, suggesting that risk experts arrived with an agenda of maximizing risk-adjusted returns, which led them to favor the derivatives. Second, we build on moral licensing arguments to suggest that bank appointment of CROs induced “organizational licensing,” leading trading-desk managers to reduce policing of their own risky behavior.Link

Tags: , , , , , ,

What history tells us about Trump’s budget fantasy

What history tells us about Trump’s budget fantasy. Lawrence Summers, May 30, 2017, Opinion, “At the risk of beating a dead horse, here are some thoughts on the Trump administration’s 3 percent growth forecast. Zero interest rates seemed inconceivable 15 years ago, and yet they happened. Almost no one forecast the productivity boom that took place in the United States between 1995 and 2005 or the magnitude of the 2008 financial crisis. So any statement that a given forecast is inconceivable is unwarranted.Link

Tags: , , , , ,

Trump Hopes To Lure Companies Back To The U.S. With Lower Tax Rates

Trump Hopes To Lure Companies Back To The U.S. With Lower Tax Rates. C. Fritz Foley, May 29, 2017, Audio, “A key part of President Trump’s tax plan is to repatriate corporate profits held overseas back to the U.S. With the lure of lower corporate rates, the idea is that companies will free up overseas earnings and instead invest in jobs and equipment in the U.S. A similar scheme was tried during the administration of George W. Bush, but companies used most of the money on stock buybacks or to pay dividends to shareholders.Link

Tags: , , , ,

Trump’s Magic Budget

Trump’s Magic Budget. Carmen Reinhart, May 29, 2017, Opinion, “US President Donald Trump’s administration has now released its budget plans for fiscal year 2018. Among the details provided in the document, entitled America First – A Budget Blueprint to Make America Great Again, are projections for the expected path of gross federal debt as a percentage of GDP, which is shown to decline from its current level of about 106% to about 80% in 2027. Debt held by the public is expected to mirror this path, shrinking from 77% to 60% over this period.Link

Tags: , , , ,

Harvard’s Hausmann Asks JPMorgan to Cut Venezuela From Index

Harvard’s Hausmann Asks JPMorgan to Cut Venezuela From Index. Ricardo Hausmann, May 26, 2017, Video, “Harvard University economist Ricardo Hausmann is calling on JPMorgan Chase & Co. to remove Venezuela from its bond indexes so that investors whose portfolios track the gauges aren’t compelled to buy notes issued by a government accused of human-rights violations.Link

Tags: , , , , , ,