Found 31 article(s) for author 'Jason Furman'

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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The economy and policy in the coronavirus crisis to date

The economy and policy in the coronavirus crisis to date. James Stock, Robert Barro, Jason Furman, Jeremy Stein, , Video, “This conversation took place during the Spring 2020 conference on the Brookings Papers on Economic Activity. Participants included Daniel Lewis of the Federal Reserve Bank of New York, Jan Hatzius from Goldman Sachs, and Lucrezia Reichlin of the London Business School discussing the economic outlook in the face of COVID-19. Robert Barro of Harvard University and François Velde of the Federal Reserve Bank of Chicago discussed lessons learned from the Spanish Flu, and Jason Furman and Jeremy Stein, both from Harvard University, discussed potential policy responses. Brookings Nonresident Senior Fellow and Harvard University Professor of Economics James Stock moderated the conversation.Link

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Is There an End in Sight to the Global Market Meltdown?

Is There an End in Sight to the Global Market Meltdown? Jason Furman, March 16, 2020, Video, “The financial fallout of the epidemic is dramatic, with grim headlines predicting a deep global recession. Markets keep tumbling, no matter how much the U.S. Federal Reserve and other central banks try to intervene. This means businesses and workers are also in freefall, wondering whether or where they’ll find a safety net. Harvard Kennedy school professor Jason Furman was a top economic advisor to President Barack Obama during the last meltdown — the financial crisis of 2008.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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Prepared Testimony for the Hearing “The Disappearing Corporate Income Tax”

Prepared Testimony for the Hearing “The Disappearing Corporate Income Tax”. Jason Furman, February 11, 2020, Paper, “In my testimony today I will make four points: 1. Corporate tax collections are very low both in historical perspective and compared with other countries. This contributes to the overall low level of revenue. 2. The 2017 tax law (Public Law 115-97) is a major reason for this revenue loss, with its total cost likely to be even larger than was estimated when the law originally passed. 3. There is no evidence that the 2017 tax law has made a substantial contribution to investment or longer-term economic growth. In fact, business investment growth has slowed to nearly a halt while economic growth has been propped up by increases in government spending. 4. Going forward, a well-designed business tax reform could both increase revenue and encourage more investment and innovation.Link

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Jason Furman, Former Chairman of the Council of Economic Advisers, on the Economy

Jason Furman, Former Chairman of the Council of Economic Advisers, on the Economy. Jason Furman, September 24, 2019, Video, “Jason Furman, Former Chairman of the Council of Economic Advisers and Professor of the Practice of Economic Policy at Harvard Kennedy School, discusses the economy. He speaks with David Westin on “Bloomberg: Balance of Power.”Link

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The American Working Man Still Isn’t Working

The American Working Man Still Isn’t Working. Jason Furman, September 19, 2019, Opinion, “The United States is in the midst of its longest-ever economic recovery. It has been a slow climb out of the depths of the 2008–9 financial crisis, but the upward trend is now in its 11th year. American workers have seen 107 consecutive months of job growth, more than double the previous record, and the unemployment rate will soon reach its lowest level in over 50 years. However, there is one important economic indicator that still hasn’t rebounded to pre-crisis levels: the employment rate among prime-age men—that is, men between the ages of 25 and 54.Link

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‘Not much’: What macroeconomic data say about the impact of the Tax Cuts and Jobs Act

‘Not much’: What macroeconomic data say about the impact of the Tax Cuts and Jobs Act. Jason Furman, September 18, 2019, Opinion, “What does macroeconomic data since the passage of the Tax Cuts and Jobs Act of 2017 (TCJA) tell us about its impact on business investment and thus the future growth of the US economy? Not much. The first sense in which the data tell us “not much” is quite literal. The TCJA does not appear to have had nearly as much impact as many of its biggest cheerleaders expected and thought they saw in the data in the initial months after it passed. We now have six quarters of data since the law passed, and gross domestic product (GDP) has grown at an annualized rate of 2.5 percent in that period. That is a slight slowdown from the 2.6 percent annual rate in the six quarters leading up to the law’s passage, as shown in the chart below. This reflects the slowdown across consumption, business investment, and residential investment—which was only partly offset by the increase in government spending.Link

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