Found 549 article(s) in category 'Fiscal Policy'

U.S. government should spend ‘whatever it takes’ to control virus

U.S. government should spend ‘whatever it takes’ to control virus. Lawrence Summers, March 26, 2020, Video, “Former Treasury Secretary Lawrence Summers has deep experience in economic policy. On Wednesday, he was among a bipartisan group of economic experts urging U.S. officials to prioritize resolving the pandemic’s medical emergency before trying to rectify its economic fallout. Summers joins Judy Woodruff to discuss direct payments to Americans, funding hospitals and the need for consistent strategy.Link

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Dr. Jha, Director Harvard Global Health Institute speaks to Thanos Dimadis on COVID19

Dr. Jha, Director Harvard Global Health Institute speaks to Thanos Dimadis on COVID19. Ashish Jha, March 26, 2020, Video, “Dr. Jha, Director of Harvard Global Health Institute speaks to Thanos Dimadis giving an overview of the situation in the US and globally about the spread of #COVID19, the actions of national governments and the expectations for the short and long term future.Link

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Former Obama chief economist on $2T stimulus bill: I’m not sure if it’s enough

Former Obama chief economist on $2T stimulus bill: I’m not sure if it’s enough. Jason Furman, March 25, 2020, Video, “Former Council of Economic Advisers Chair under Obama & Harvard Economics Professor Jason Furman joins Yahoo Finance’s Zack Guzman and Brian Cheung to discuss the $2T coronavirus stimulus proposal facing a vote in the Senate on Yahoo Finance.Link

 

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Q&A on COVID-19 with Faculty Director Rema Hanna

Q&A on COVID-19 with Faculty Director Rema Hanna. Rema Hanna, March 25, 2020, Opinion, “Rema Hanna is the Jeffrey Cheah Professor of South-East Asia Studies and Chair of the International Development Area at the Harvard Kennedy School. She serves as the Faculty Director of Evidence for Policy Design (EPoD) at Harvard University’s Center for International. Her research revolves around improving the provision of public services in developing and emerging nations, particularly for the very poor. In light of the global COVID-19 outbreak, Rema provides her expertise as a development economist to answer questions on the economic impacts of a pandemic, like the novel coronavirus, and the resulting effects for developing countries. See below for a Q&A with EPoD Faculty Director Rema Hanna, conducted on March 25, 2020.Link

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Flattening the COVID-19 Curve in Developing Countries

Flattening the COVID-19 Curve in Developing Countries. Ricardo Hausmann, March 24, 2020, Opinion, “The more contained you want the novel coronavirus to be, the more you will need to lock down your country – and the more fiscal space you will require to mitigate the deeper recession that will result. The problem for most of the Global South is that policymakers lack fiscal space even in the best of times.Link

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Government and Public Policy in Times of Crisis

Government and Public Policy in Times of Crisis. Linda Bilmes, March 16, 2020, Audio, “Guest: Professor Linda Bilmes is Daniel Patrick Moynihan Senior Lecturer in Public Policy and Public Finance at Harvard Kennedy School. She was Assistant Secretary and Chief Financial Officer of the US Department of Commerce during the Clinton administration. She has co-authored multiple books, including The Three Trillion Dollar War (with Nobel laureate Joseph Stiglitz).Link

 

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Congress should increase the federal Medicaid matching rate

Congress should increase the federal Medicaid matching rate. Jason Furman, March 12, 2020, Opinion, “Among the four of us, one of us served in President Trump’s administration and two of us served in President Obama’s administration. Two of us are doctors and two of us are economists. All four of us strongly believe that one of the many critical steps Congress should take to slow the spread of the COVID-19 disease, help the families and communities most affected by it, and aid the overall economy would be to increase the federal matching rate for the Medicaid program.Link

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The Case for a Big Coronavirus Stimulus

The Case for a Big Coronavirus Stimulus. Jason Furman, March 5, 2020, Opinion, “Given the mounting economic risks posed by the spread of the novel coronavirus, Congress should act swiftly but thoughtfully to pass fiscal stimulus. This would be in addition to continuing to provide ample funding for medical research, testing, prevention and treatment. The stimulus’s total cost would be about $350 billion, but could be larger or smaller depending on how the economic situation unfolds. Congress should design it to be accelerated, big, comprehensive and dynamic.Link

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Automatic stabilizers in a low-rate environment

Automatic stabilizers in a low-rate environment. Lawrence Summers, 2020, Paper, “With interest rates persistently low or even negative in advanced countries, policymakers have barely any room to ease monetary policy when the next recession hits. Fiscal policy will have to play a major and likely dominant role in stimulating the economy, requiring policymakers to fundamentally reconsider fiscal policy. Blanchard and Summers argue for the introduction of what they call “semiautomatic” stabilizers. Unlike purely automatic stabilizers (mechanisms built into government budgets that automatically—without discretionary government action or explicit triggers—increase spending or decrease taxes when the economy slows or enters a recession), semiautomatic stabilizers are targeted tax or spending measures that are triggered if, say, the output growth rate declines or the unemployment rate increases beyond a specified threshold. The authors argue that the trigger should be changes in unemployment rather than changes in output, and the design of semiautomatic stabilizers, whether they focus on mechanisms that rely primarily on income or on intertemporal substitution effects (changing the timing of consumption), depends crucially on the design of discretionary policy.Link

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