The domestic landscape / Michael J. Boskin -- In brief : spending / George P. Shultz -- Entitlements and the budget / John F. Cogan -- A blueprint for tax reform / Michael J. Boskin -- Transformational health care reform / Scott W. Atlas -- Reforming regulation / Michael J. Boskin -- National...

In the recent years, the great majority of central banks have globally failed to realize inflation targets. We attempt to answer a question of whether such failure resulted from insufficient organization of economic research in those institutions. Our study shows a positive, but statistically...

In this paper, we undertake empirical analysis to understand U.S. wage behavior since thebeginning of the new millennium. At the macroeconomic level, we find that aproductivity-augmented Phillips curve model explains the data fairly well. The modelreveals that the upward pressure on wage growth...

Monetary developments of recent decades began with much promise with inflation targeting by independent central banks; the financial crisis of 2007 ushered in a period of great monetary instability. There are lessons for a return to more stability. Central banks need to stabilize money supply...

[...]Like the other countries examined, the United Kingdomadopted inflation targets after a successful disinflation.Unlike these countries, however, the UnitedKingdom took this step in the aftermath of a foreignexchange rate crisis in order to restore a nominalanchor and to lock in past...

This paper investigates the effectiveness of the quantitative easing policy, as implemented by the Bank of England in March 2009. Similar policies had been previously implemented in Japan, the U.S. and the Eurozone. The effectiveness is measured by the impact of Bank of England policies...