Fiscal Policy

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The Infrastructure Myth

by Paul R. Gregoryvia Hoover Digest
Friday, January 27, 2017

Politicians always demand more infrastructure—and the spending that goes with it. Yet the United States already spends vast sums on such things, much of it wasted. 

In the News

Better Ways Than Jawboning For Trump To Grow US Jobs

quoting John H. Cochrane via Chicago Tribune
Friday, December 9, 2016

Donald Trump ran on a promise to bring back manufacturing jobs that have been shipped overseas, partly by using import tariffs to punish U.S. companies that move their operations abroad. He took the first step toward keeping that promise when Indiana manufacturer Carrier Corp., offered a package of state tax incentives (and possibly fearful of its corporate parent losing Pentagon contracts), agreed to retain 800 workers it had planned to lay off.

In the News

Should We Get Ready For A Rate Hike In December?

quoting John B. Taylorvia Market Realist
Friday, November 18, 2016

The possibility of a 25-basis-point rate hike in December is quite high since Donald Trump was elected president of the United States. That’s not to say that a rate hike would have been unlikely had Hillary Clinton been elected.

Interviews

Ed Lazear: Wall St. Model Good For Treasury Secretary

interview with Edward Paul Lazearvia CNBC
Friday, November 18, 2016

Hoover Institution fellow Ed Lazear talks about President-elect Trump's transition team's ideas for Treasury secretary as well as Lazear's ideas on keeping the Federal Reserve independent and whether the Fed should raise interest rates.

Policy Seminar with Darrell Duffie

Thursday, November 10, 2016
Annenberg Conference Room, Lou Henry Hoover Building
Darrell Duffie, Dean Witter Distinguished Professor of Finance at the Stanford Graduate School of Business, and professor by courtesy at the Department of Economics, discussed his work on “Financial Regulatory Reform After the Crisis: An Assessment.”
Event

Policy Seminar with Arthur Brooks

Tuesday, November 1, 2016
Annenberg Conference Room, Lou Henry Hoover Building

Arthur Brooks, president of the American Enterprise Institute (AEI), gave a talk on “Bringing America Back Together.” He started by arguing that the degree of polarization in America has reached unprecedented proportions. He suggested that institutions such as Hoover and AEI have an intellectual and moral responsibility to advocate the ideas on which they were formed. He believed that if such ideas were applied, the broad-based economic growth that would follow would take America away from the polarized situation it finds itself in right now. 

Event
Economics Abstract
Featured

Don’t Believe The Economic Pessimists

by John H. Cochrane via Wall Street Journal
Sunday, November 6, 2016

Memo to Clinton and Trump: The US economy can and will grow faster with the right policies.

Featured

All Aboard The Infrastructure Boondoggle

by Michael J. Boskinvia Wall Street Journal
Monday, October 31, 2016

Whoever wins on Nov. 8, a flood of public-works money is coming. Cost-benefit tests are crucial.

Federal Reserve chair Janet Yellen.
In the News

Politics At The Fed Is The Rule, Not The Exception

quoting John B. Taylor, Allan H. Meltzervia Dallas Morning News
Saturday, October 15, 2016

"We do not discuss politics at our meetings, and we do not take politics into account in our decisions." So claimed Janet Yellen, chairwoman of the Federal Reserve, at a recent press conference. If true, this is admirable. Given its ability to help or hinder the economy, it would be worrying if the central bank influenced, or was influenced by, the vagaries of politics.

Interviews

World's Central Banks Should Raise Not Lower Rates: Robert Barro

interview with Robert J. Barrovia Arirang News
Friday, October 14, 2016

Hoover Institution fellow Robert Barro talks about the Bank of Korea along with other central banks who have kept nominal interest rates that they control too low, kind of artificially low, a strange kind of policy you haven't seen before the great recession created in 2008 and 2009. So I think Korea along with other central banks should be moving towards raising nominal rates back to the more nominal range maybe 3 to 4 percent.

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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