The Pitfalls of External Dependence: Greece, 1829-2015
Two centuries of Greek debt crises highlight the pitfalls of relying on external financing.
Research
Uniting Behind the Divisive ‘Cadillac’ Tax on Health Plans
The excise tax on high-cost health care plans, the so-called Cadillac tax, is good policy. Congress should side with President Obama and resist calls to scrap it.
Has Sweden Injected Realism into Public Financial Management Reforms in Partner Countries?
In this report Andrews takes a specific look at whether Sweden has contributed to increased realism in poor country reform of ’public finance management’ (PFM) over the last decades.
Explaining Recent Declines in Labour’s Share in US Income
Designing Federal Budget Policy to Spur Economic Growth
Thank you. I am delighted to be back at NABE. My goal today is to make the case for a set of changes to federal budget policy that would spur economic growth.
A Fairer Approach to Fiscal Reform
Benefits for older Americans — especially through Social Security and Medicare — account for the largest part of federal spending today and for the lion’s share of the spending growth that will occur
The Plaza Accord, 30 Years Later
The paper reviews an event of 30 years ago from the perspective of today: a successful G-5 initiative to reverse what had been a dangerously overvalued dollar.
CATalytic Insurance: The Case of Natural Disasters
Why should developing countries buy expensive catastrophe (CAT) insurance? Abstracting from risk aversion or hedging motives, we find that insurance may have a catalytic role on external finance.
Misinterpreting Chinese Intervention in Financial Markets
It is tempting to view economic events in China through a single template: the view that they are driven by government intervention because the authorities haven’t learned to let the market operate.
Dynamic Scoring: Why and How to Include Macroeconomic Effects in Budget Estimates for Legislative Proposals
Including macroeconomic effects in budget estimates for certain legislative proposals would improve the accuracy of those estimates and would provide important information about the economic effects o
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