There have been large increases in two-year, four-year public and four-year private college enrollment since the start of the Great Recession — slightly larger than expected based on the historical relationships between unemployment and enrollment, and significantly larger than expected if the...

By preemptive austerity, we mean a policy that increases taxes to deter potential rollover crises. The policy is so successful that the usual danger signal of a rollover crisis, a high yield on new bonds sold, does not show up because the policy eliminates the danger. Mechanically, high taxes...