Secular Stagnation and Macroeconomic Policy
Secular stagnation theory has developed substantially recently and offers substantial insights that policymakers have yet to fully internalize.
Research
Taxes for Health: Evidence Clears the Air
Non-communicable diseases (NCDs) are the leading cause of premature death in most of the world, and lower income households in most societies bear a disproportionate share of the associated preventabl
The Permanent Effects of Fiscal Consolidations
The global financial crisis has permanently lowered the path of GDP in all advanced economies.
Capital Controls: Myth and Reality
This paper is a meta-analysis of the literature on capital controls that aims to solve (at least) four very serious apples-to-oranges problems: (i) There is no unified theoretical framework to analyze
Rethinking the Macroeconomics of Resource-Rich Countries
After years of high commodity prices, a new era of lower ones, especially for oil, seems likely to persist.
Macroeconomic Effects of the 2017 Tax Reform
This paper uses a cost of capital framework to analyze the long-run steady state and transition path for GDP as a result of the 2017 tax law.
Investment versus Output Subsidies: Implications of Alternative Incentives for Wind Energy
This paper examines the choice between subsidizing investment or output to promote socially desirable production.
Cities on a Hill?
For many Americans, cities have become a beacon of hope. They are widely recognized as engines of the U.S. economy and laboratories of policy innovation and democratic deepening.
Congress’ Budget Dysfunction Is More Than 4 Decades in the Making
In an eleventh-hour twist, Sen. Rand Paul protested the costs of Congress’ latest budget deal and briefly shut down the federal government. Then, in the wee hours of Feb.
Excess Prices for Drugs in Medicare: Diagnosis and Prescription
Excess prices for drugs in the U.S. is a persistently vexing policy problem.
Get smart & reliable public policy insights right in your inbox.