Fiscal Policy


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Analysis and Commentary

Davenport: Why Isn’t Anyone Talking About The National Debt?

by David Davenportvia Townhall
Tuesday, September 6, 2016

In a presidential campaign, it’s amazing that no one is talking about the national debt. Well, actually someone is: the Congressional Budget Office issued a report this summer and we should be shocked.


Settlement Skulduggery

by John H. Cochrane via Grumpy Economist
Thursday, September 1, 2016

Andy Koenig had a WSJ oped on a subject getting far too little attention. When the government goes after big companies such as banks, and obtains huge out of court settlements, just where does the money go?

Blank Section (Placeholder)Analysis and Commentary

Policies For Economic Growth

with John H. Cochrane via Hoover Institution
Wednesday, August 3, 2016

Hoover Institution fellow John Cochrane discusses the “new normal” of 2 percent annual growth in GDP, which doesn’t sound far off from the 3.5 percent growth that characterized the US economy from 1950 to 2000.


CBO’s New Way To Evaluate Fiscal Consolidation Plans

by John B. Taylorvia Economics One
Tuesday, August 23, 2016

In its recently released budget outlook, the Congressional Budget Office projects that this year’s federal deficit will increase by 35% from last year to $590 billion, and that the debt will rise from $14 trillion to $23 trillion by 2026, or from 77% to 86% of GDP. Clearly it’s time for a fiscal consolidation plan.

In the News

Bankruptcy for Banks: A Sound Concept That Needs Fine-Tuning

mentioning Hoover Institutionvia The New York Times
Tuesday, August 16, 2016

The House of Representatives is pushing to enact a bankruptcy act for banks. It has passed a bankruptcy-for-banks bill, sent it to the Senate, and now embedded it in its appropriations bill, meaning that if Congress is to pass an appropriations bill this year, it may also have to enact the bankruptcy-for-banks bill.

Analysis and Commentary

Regional Price Data

by John H. Cochrane via Grumpy Economist
Thursday, August 11, 2016

Some big news, to me at least: The Bureau of Economic Analysis is now producing "regional price parities" data that allow you to compare the cost of living in one place in the US to another. The BEA news release release is here; coverage from the tax foundation here (HT the always interesting Marginal Revolution).

In the News

Taylor Rule Shows Raghuram Rajan’s Policy Rate Regime Was Prudent, Not Hawkish

featuring John B. Taylorvia Live Mint
Thursday, August 11, 2016

With the Taylor Rule policy rate now higher than the actual repo rate, the new Monetary Policy Committee has a job on its hands.


Ed Lazear On The John Batchelor Show

interview with Edward Paul Lazearvia The John Batchelor Show
Tuesday, August 9, 2016

Hoover Institution fellow Ed Lazear talks about his Wall Street Journal article "The Fed Missed Its Chance. Now What?"


A World Without Cash

by John H. Cochrane via Grumpy Economist
Monday, August 8, 2016

Max Raskin and David Yermack have a nice WSJ OpEd last week, "Preparing for a world without cash." The oped summarizes their related paper. 

In the News

State Of The Debate On 'Too Big To Fail' (James Bullard Commentary)

quoting John H. Cochrane via Arkansas Business
Monday, August 8, 2016

After the financial crisis, new regulations sought to address systemic risk within the U.S. financial system, including rules addressing capital requirements, liquidity ratios and leverage levels. 


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