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Trade and immigration are good for the U.S. economy

Trade And Immigration

interview with John H. Cochrane via
Friday, September 1, 2017

Trade and immigration are good for the U.S. economy. Free trade allows Americans to buy better goods at lower prices and provides bigger markets where we can sell our own goods. More immigration leads to economic growth and improvements in our standard of living. The logic that isolation and protectionism will create more American jobs is misguided and detrimental to economic growth.

In the News

Hoover Institution Economist Explores Reason For Slow Economic Growth Post-Recession

featuring Robert E. Hallvia Stanford Daily
Wednesday, August 30, 2017

Typically after a recession, the United States economy experiences a spike in growth. Although the unemployment rate has returned to pre-recession levels, the economy’s growth after the 2008 recession has been slow and unimpressive, according to a working paper co-authored by a Stanford economist.


Yellen At Jackson Hole

by John H. Cochrane via Grumpy Economist
Wednesday, August 30, 2017

Fed Chair Janet Yellen gave a thoughtful speech at the Jackson Hole conference.The choice of topic, financial stability and the Fed's role in financial regulation and supervision, says a lot. Financial regulation, supervision, and other tinkering, is much more centrally a part of what the Fed is...


On CNBC Michael Spence Discusses Why Kim Jong Un's Threats To Destroy South Korea Are Not Slowing Down Ikea

interview with Michael Spencevia CNBC
Tuesday, August 29, 2017

Hoover Institution fellow Michael Spence says that, so far, the increased political turbulence hasn't translated into big economic effects because the rising risks have not been properly perceived and/or priced or both economies and markets have essentially assumed that this is a lot of noise.

Analysis and Commentary

Currency Manipulation. Who Is Manipulating Whom?

by Alvin Rabushkavia Thoughtful Ideas
Tuesday, August 29, 2017

During the presidential campaign, President Trump repeatedly accused China of manipulating its currency, devaluing the Yuan, to gain advantage in its trade with the United States.  Devaluing the Yuan makes Chinese goods cheaper in the US and US goods more costly in China. This was, in Trump’s view, a source of the large trade deficit with China, and loss of U.S. manufacturing jobs.

Analysis and Commentary

Theresa May Can Draw Britain Closer To Japan – These Two Island Nations Are Natural Allies

by Michael R. Auslinvia The Telegraph
Tuesday, August 29, 2017

[Subscription Required] Theresa May flies into a region in crisis this week as she tries to ensure that the Anglo-Japanese strategic partnership continues to deepen.

Job creation
In the News

It’s Not Just Banks Anymore. Democrats Want To Break Up All Kinds Of Big Business

quoting Robert E. Hallvia Washington Post
Monday, July 24, 2017

It hangs over all forms of expansion in businesses,” said Robert Hall, a fellow at the Hoover Institution. “Hiring workers is subject to the same drag.”.


Europe’s Struggle To Take Its Destiny Into Its Own Hands

by Josef Joffevia Wall Street Journal
Thursday, July 20, 2017

A Continent that doesn’t spend on defense and thinks ‘peace’ is a form of power still needs America.

Blank Section (Placeholder)Analysis and Commentary

The Libertarian: Buy American?

interview with Richard A. Epsteinvia Defining Ideas (Hoover Institution)
Tuesday, July 18, 2017

A look at the economic logic -- or lack thereof -- behind President Trump's push to "buy American"

Policy Seminar with Raghuram Rajan

Tuesday, June 20, 2017
Annenberg Conference Room, Lou Henry Hoover Building

Raghuram Rajan, Katherine Dusak Miller Distinguished Service Professor of Finance at Chicago Booth, former Governor of the Reserve Bank of India, and former Chief Economist and Director of Research at the International Monetary Fund, discussed “What Explains the Rise of Populist Nationalism? Some Speculative Thoughts.”



Economic Policy Working Group

The Working Group on Economic Policy brings together experts on economic and financial policy to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.

Milton and Rose Friedman: An Uncommon Couple