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by Michael Spencevia Project Syndicate
by John H. Cochranevia Wall Street Journal
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interview with Stephen Habervia Wall Street Journal Live
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by Lee Ohanian, Edward Prescottvia Wall Street Journal

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Featured

The Fed Needs Trust, Not Tactics

by Kevin Warshvia The Wall Street Journal
Monday, October 28, 2019

Interest-rate cuts won’t hold off the next downturn. The central bank must assure markets with a plan.

Featured

Public Pensions: An Economic Time Bomb

by Joshua D. Rauhvia Prager U
Monday, October 28, 2019

Hoover Institution fellow Joshua Rauh paints a startling picture of just how broken the public pension system really is, and what will happen if we continue to ignore it.

Blank Section (Placeholder)FeaturedEconomy

Elizabeth Warren’s Flawed Approach To Trade

by Richard A. Epsteinvia Las Vegas Review Journal
Saturday, October 26, 2019

Sen. Elizabeth Warren is at it again. Her ill-conceived New Approach To Trade proclaims boldly as follows: As president, I won’t hand America’s leverage to big corporations to use for their own narrow purposes — I’ll use it to create and defend good American jobs, raise wages and farm income, combat climate change, lower drug prices and raise living standards worldwide. We will engage in international trade — but on our terms and only when it benefits American families.

Policy Seminar with Anil Kashyap

Thursday, October 24, 2019
Annenberg Conference Room, Lou Henry Hoover Building

Anil Kashyap, the Stevens Distinguished Service Professor of Economics and Finance at the University of Chicago Booth School of Business, discussed “Financial Stability and Monetary Policy?” (with Caspar Siegert)

Event
Blank Section (Placeholder)Analysis and Commentary

The Libertarian: Failed (Administrative) State

interview with Richard A. Epsteinvia The Libertarian
Wednesday, October 23, 2019

How executive branch discretion threatens the rule of law.

Analysis and Commentary

Private Equity Buyouts And Their Effects

by Steven J. Davis, John Haltiwanger, Kyle Handley, Ben Lipsius, Josh Lerner, Javier Mirandavia VoxEu.org (Centre for Economic Policy Research)
Tuesday, October 22, 2019

Private equity buyouts arouse intense interest among investors and business owners as well as policymakers and politicians, but the difficulty of assembling the data needed for a systematic evaluation makes assessing their effects hard. This column uses data on thousands of buyouts in the US to examine the effects on employment, job reallocation, productivity, and worker compensation. The findings suggest that the effects differ greatly by type of buyout, with the credit conditions at the time of buyout, and with the post-buyout evolution of credit conditions and the macroeconomy, casting doubt on the efficacy of ‘one-size-fits-all’ policy prescriptions for private equity.

Featured

Companies Should Concentrate On Maximising Their Profits

by Jennifer Burnsvia Financial Times
Sunday, October 20, 2019

Relegating the interests of shareholders is an open repudiation of the ‘Friedman doctrine’

Analysis and Commentary

Susan Houseman On Manufacturing

by Russell Robertsvia EconTalk
Monday, October 21, 2019

Economist Susan Houseman of the Upjohn Institute for Employment Research talks about the manufacturing sector with EconTalk host Russ Roberts. Houseman argues that the data surrounding both manufacturing output and employment have been misunderstood and misinterpreted. In particular, she argues that conclusions about the growth of manufacturing are driven overwhelmingly by computer production while the rest of manufacturing has been stagnant. She also argues that productivity has a small role in reducing manufacturing employment. Trade has been the main cause of employment reductions. These claims go against the standard narratives most economists have been telling for the last 20 years.

Featured

Nobel Winner Abhijit Banerjee And Former RBI Chief Raghuram Rajan On India’s Economic Challenges

by Abhijit Banerjee, Raghuram Rajanvia Quartz
Monday, October 14, 2019

In October 2018, thirteen of us, all economists, got together in the hope that, as the country gears up for elections, we could start a conversation by identifying a set of policy ideas that might help inform party manifestos and policy visions. While our views stretch across the spectrum from right to left, we found surprising agreement on the challenges India faces and reforms it needs now. Two of us sifted through the set of ideas, picking what we felt were the top challenges and proposals to address them.

In the News

Fixing The Gig Economy Doesn’t Require Turning All Uber Drivers Into Employees

quoting Richard A. Epsteinvia Daily Caller
Monday, October 14, 2019

While new technologies have enabled new economic opportunities and labor arrangements, current laws largely treat employment as a binary between independent contractors and full-time employees. This limits employers who might otherwise want to offer some, but not all benefits; and unnecessarily restricts employees who need flexibility and the ability to set their own hours.

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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