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How Lawyers Can Help Macroeconomists in the Wake of Three Major Challenges

Macroeconomics has changed in light of both developments in the world and its internaI intellectual evolution.

Rules versus Home Rule: Local Government Responses to Negative Revenue Shocks

Local governments rely heavily on sales tax revenue. We use national bankruptcies of big-box retail chains to study sudden plausibly exogenous revenue shortfalls.

Connecting the Northeast: A Cost Estimate for the North South Rail Link

This paper presents rough order-of- magnitude estimates for the capital cost of the North South Rail Link (the “Link”), a proposed infrastructure project to connect the commuter rail and Amtrak lines

Letter to Congressional Leaders

Dear Mr. Speaker, Madam Leader, Mr. Majority Leader, and Mr. Minority Leader: The undersigned represent every former Director of the Congressional Budget Office (CBO).

What Is the Potential Growth Rate of the U.S. Economy, and How Might Policy Affect It?

The answer to the question “What will future potential growth be?” is as important as it is unknowable. This paper attempts to predict future U.S.

Does Front-Loading Taxation Increase Savings? Evidence from Roth 401(K) Introductions

Can governments increase private savings by taxing savings up front instead of in retirement?

Federal Policy and Economic Growth

I am quite concerned about the high and rising levels of federal debt we will have in the long term unless our policies are changed.

Does Front-Loading Taxation Increase Savings? Evidence from Roth 401(k) Introductions

Can governments increase private savings by taxing savings up front instead of in retirement?

The Federal Reserve's Impact on Main Street, Retirees, and Savings

Federal Budget Policy with an Aging Population and Persistently Low Interest Rates

Some observers have argued that the projections for high and rising debt pose a grave threat to the country's economic future and give the government less fiscal space to respond to recessions or othe