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Jobs for the Heartland : Place-Based Policies in 21st Century America

Austin, Benjamin A. - 2018

The economic convergence of American regions has greatly slowed, and rates of long-term non-employment have even been diverging. Simultaneously, the rate of non-employment for working age men has nearly tripled over the last 50 years, generating a terrible social problem that is...

Persistent link: https://www.econbiz.de/10012453168

Rethinking Stabilization Policy : Evolution or Revolution?

Blanchard, Olivier J. - 2017

At a minimum, they suggest that policies may need to become more aggressive, both ex-ante and ex-post, with a rebalancing of the roles of monetary, fiscal and financial policies. In particular, while low neutral rates decrease the scope for using monetary policy, they increase the scope for...

Persistent link: https://www.econbiz.de/10012453534

Productivity and Pay : Is the link broken?

Stansbury, Anna M. - 2017

Since 1973 median compensation has diverged starkly from average labor productivity. Since 2000, average compensation has also begun to diverge from labor productivity. These divergences lead to the question: to what extent does productivity growth translate into compensation growth for typical...

Persistent link: https://www.econbiz.de/10012453548

The Permanent Effects of Fiscal Consolidations

Fatás, Antonio - 2016

The global financial crisis has permanently lowered the path of GDP in all advanced economies. At the same time, and in response to rising government debt levels, many of these countries have been engaging in fiscal consolidations that have had a negative impact on growth rates. We empirically...

Persistent link: https://www.econbiz.de/10012456303

A Contagious Malady? Open Economy Dimensions of Secular Stagnation

Eggertsson, Gauti B. - 2016

Conditions of secular stagnation - low interest rates, below target inflation, and sluggish output growth - characterize much of the global economy. We consider an overlapping generations, open economy model of secular stagnation, and examine the effect of capital flows on the transmission of...

Persistent link: https://www.econbiz.de/10012456376

Secular Stagnation in the Open Economy

Eggertsson, Gauti B. - 2016

Conditions of secular stagnation - low interest rates, below target inflation, and sluggish output growth - now characterize much of the global economy. We consider a simple two-country textbook model to examine how capital markets transmit secular stagnation and to study policy externalities...

Persistent link: https://www.econbiz.de/10012456503

Asiaphoria Meets Regression to the Mean

Pritchett, Lant - 2014

Consensus forecasts for the global economy over the medium and long term predict the world's economic gravity will substantially shift towards Asia and especially towards the Asian Giants, China and India. While such forecasts may pan out, there are substantial reasons that China and India may...

Persistent link: https://www.econbiz.de/10012458092

How Globalization Affects Tax Design

Hines, James R, Jr - 2009

The economic changes associated with globalization tighten financial pressures on governments of high-income countries by increasing the demand for government spending while making it more costly to raise tax revenue. Greater international mobility of economic activity, and associated...

Persistent link: https://www.econbiz.de/10012463983

Policymaking for Posterity

Summers, Lawrence H. - 2008

Policymaking for posterity involves current decisions with distant consequences. Contrary to conventional prescriptions, we conclude that the greater wealth of future generations may strengthen the case for preserving environmental amenities; lower discount rates should be applied to the far...

Persistent link: https://www.econbiz.de/10012464288

Good Policy or Good Luck? Country Growth Performance and Temporary Shocks

Easterly, William - 1993

Much of the new growth literature stresses country characteristics, such as education levels or political stability, as the dominant determinant of growth. However, growth rates are highly unstable over time, with a correlation across decades of .1 to .3, while country characteristics are...

Persistent link: https://www.econbiz.de/10012474472

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