Fiscal Policy


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Restoring Fiscal Order In The United States

by John B. Taylor cited John F. Coganvia Project Syndicate
Wednesday, January 22, 2020

The United States’ federal budget deficit is currently projected to explode, increasing the federal debt to unprecedentedly high levels. A very gradual fiscal consolidation, with federal spending as a share of GDP declining slightly each year, would both raise economic growth and create a more resilient economy.

In the News

Past Interest Rates And Future Growth

quoting Paul Schmelzingvia Project Syndicate
Monday, January 13, 2020

In studying the roots of macroeconomic trends across the advanced economies in recent decades, it is tempting to conclude that a declining rate of output growth is the inevitable result of deeper historical forces and intractable structural factors. But secular stagnation is well within our power to reverse.

Analysis and Commentary

California Government Pensions And Opportunity Costs

by David R. Hendersonvia EconLog
Monday, December 16, 2019

Steven Greenhut over at the Reason blog had an excellent article last week on the really scary state of the California Public Employees’ Retirement System (CalPERS). It’s titled “What, Us Worry? California Lawmakers Still Ignoring Dark Pension Clouds,” Reason, December 13.

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The Libertarian: Against ‘Common Good Capitalism’

interview with Richard A. Epsteinvia The Libertarian
Tuesday, November 26, 2019

Marco Rubio’s misguided attempt to upend American economic policy.

Policy Seminar with Anil Kashyap

Wednesday, November 6, 2019
Annenberg Conference Room, Lou Henry Hoover Building

Ramin Toloui, Professor of the Practice of International Finance and the Tad and Dianne Taube Policy Fellow at the Stanford Institute for Economic Policy Research (SIEPR), and former Assistant Secretary for International Finance at the U.S. Treasury Department, discussed “How Did QE Really Work? A New Approach to Measuring the Federal Reserve’s Impact on Financial Markets during 2010-2018.”


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)


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.

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Tax Avengers: Endgame?

by Bill Whalenvia Hoover Digest
Wednesday, October 9, 2019

A recent schools tax measure failed—and failed badly. Californians may not be all that eager to weaken Proposition 13 after all.

Blueprint for AmericaFeatured

Blueprint For America: The Art And Practice Of Governance

by George P. Shultzvia PolicyEd
Tuesday, September 24, 2019

Managing governmental spending, guiding private enterprise, maintaining global alliances, and educating the next generation are America’s top priorities that have not changed over time. However, good governance is needed to sustain and realize these long-term goals.


The Unusual Suspects

by Daniel Heilvia Budget Matters, America Off Balance
Tuesday, September 3, 2019

It seems every month, the Congressional Budget Office (CBO) releases another report showing sharp increases in the federal debt. In June, CBO released its annual Long-Term Budget Outlook showing debt would pass 100% of GDP in 2034 and hit 144% in 2049. And, just last month, CBO’s updated 10-year budget forecasts showed even larger deficits than previously predicted.


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