Found 508 article(s) in category 'Fiscal Policy'

Responding to the Global Financial Crisis, What We Did and Why We Did It

Responding to the Global Financial Crisis, What We Did and Why We Did It – The Fiscal Response to the Great Recession: Steps Taken, Paths Rejected, and Lessons for Next Time. Jason Furman, September 11, 2018, Paper, “The fiscal response to the Great Recession started when President Bush signed the Economic Stimulus Act of 2008 on February 13, 2008 and finished when the payroll tax cut enacted under President Obama expired at the end of 2012. Congress enacted at least 18 different laws that explicitly included discretionary fiscal stimulus totaling over $1.5 trillion during those five years, with about half of that coming from the American Recovery and Reinvestment Act signed into law by Obama on February 17th 2009.2LInk

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Final Thoughts on Secular Stagnation

Final Thoughts on Secular Stagnation. Lawrence Summers, September 6, 2018, Opinion, “Too little was done in the aftermath of the financial crisis a decade ago to stimulate aggregate demand, which would be boosted by a more equal income distribution. And substantially stronger financial regulation than was in place before 2008 needs to be adopted to minimize the risks of future crises.Link

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Interview with Harvard Professor Robert Barro

Interview with Harvard Professor Robert Barro. Robert Barro, September 1, 2018, Opinion, “Robert Barro is a highly influential economist and has written extensively about macroeconomics. He is the Paul M. Warburg Professor of Economics at Harvard University, a senior fellow at Stanford University and co-editor of the Quarterly Journal of Economic. Barro shares a free market view of the current economic climate during an in-depth conversation with Filthy Lucre.Link

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Universal Basic Incomes vs. Targeted Transfers: Anti-Poverty Programs in Developing Countries

Universal Basic Incomes vs. Targeted Transfers: Anti-Poverty Programs in Developing Countries. Rema Hanna, August 2018, Paper, ” Developing country governments are increasingly implementing cash assistance programs to combat poverty and inequality. This paper examines the potential tradeoffs between targeting these transfers towards low income households versus providing universal cash transfers, also known as a Universal Basic Income. We start by discussing how the fact that most households in poor countries do not pay income taxes changes how we conceptually think about Universal Basic Incomes. We then analyze data from two countries, Indonesia and Peru, to document the tradeoffs involved.Link

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US will lack fiscal space to respond when next recession comes

US will lack fiscal space to respond when next recession comes. Jeffrey Frankel, August 28, 2018, Opinion, “The US economy is doing well. But the next recession – and there is always another recession – could be very bad. The US Bureau of Economic Analysis estimates that GDP growth in the second quarter of 2018 reached 4.1% – the highest since the 4.9% achieved under President Barack Obama in 2014. Another year of growth will match the record 10-year expansion of the 1990s. Add to that low unemployment and things are looking good.Link

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The Budgetary Effects of Ending Drug Prohibition

The Budgetary Effects of Ending Drug Prohibition.  Jeffrey Miron, July 23, 2018, Paper, “In the past several years, the national movement to end drug prohibition has accelerated. Nine states and Washington, DC, have legalized recreational marijuana, with at least three more states (Connecticut, Michigan, and Ohio) likely to vote on legalization by the end of 2018. Dozens of others have decriminalized the substance or permitted it for medicinal use. Moreover, amid the nation’s ongoing opioid crisis, some advocates and politicians are calling to decriminalize drugs more broadly and rethink our approach to drug enforcement.Link

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Alberto Alesina on Inequality, Immigration, and Austerity

Alberto Alesina on Inequality, Immigration, and Austerity July 2018. GrowthPolicy’s Devjani Roy interviewed Alberto Alesina, the Nathaniel Ropes Professor of Political Economy at Harvard University, on inequality, immigration, and austerity. | Click here for more interviews like this one. Links: Alberto Alesina’s faculty page at Harvard | Publications | NBER research page | Wikipedia Growthpolicy.org. […]

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A jobs guarantee — progressives’ latest big idea

A jobs guarantee — progressives’ latest big idea. Lawrence Summers, July 2, 2018, Opinion, “The percentage of US workers, or those seeking employment, aged 25-54 has declined over the past two decades. The impulse behind the latest “big” progressive idea of offering job guarantees is entirely valid. Studies show that those without jobs are much more likely to be dissatisfied with their lives, to become addicted to alcohol or drugs, and to be abusive within their family than even those working at low wages they find inadequate.Link

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