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In the News

‘In Order To Export, You Have To Import’: Raghuram Rajan Cautions Against Import Substitution

featuring Raghuram Rajanvia The Hindu
Thursday, October 22, 2020

Former Reserve Bank governor Raghuram Rajan on Wednesday cautioned against import substitution under the ‘Aatmanirbhar Bharat’ initiative of the government, saying the country has gone down this route earlier but could not succeed.

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Managing (and Mismanaging) the “Covid Shock”

by David R. Hendersonvia Defining Ideas
Thursday, October 22, 2020

Governments have eased regulations with one hand and tightened them with the other.

Policy InsightsFeatured

Thinking About Long-Term Debt

by John F. Cogan, John H. Cochrane, Michael J. Boskin, Joshua D. Rauh, Richard A. Epstein, Daniel Heilvia PolicyEd
Thursday, October 22, 2020

Whether they’re overlooking skyrocketing federal debt or unfunded state pension obligations, lawmakers continue to make short-run budget decisions that will disproportionately burden future generations. How big are these problems, and are there any good solutions?

Analysis and Commentary

Change Intra-EU Trade To Counter US Currency Aggression

by Melvyn B. Kraussvia Financial Times
Thursday, October 22, 2020

There is a way to protect the bloc from beggar-my-neighbor policies.

Policy Seminar with Frank Smets and Monika Piazzesi

Wednesday, October 21, 2020

Frank Smets, Director General of the European Central Bank, presented his paper "The Euro Area: Effects of State-Dependent Forward Guidance, Large-Scale Asset Purchases, and Fiscal Stimulus in a Low-Interest-Rate Environment,” with Gunter Coenen and Carlos Montes- Galdon). Monika Piazzesi, the Joan Kenney Professor of Economics at Stanford, was the discussant and John Taylor, the Mary and Robert Raymond Professor of Economics at Stanford University, and the George P. Shultz Senior Fellow at the Hoover Institution, was the moderator.

Analysis and Commentary

Open The Schools And The Playgrounds

by David R. Hendersonvia EconLog
Wednesday, October 21, 2020

A group of researchers, spearheaded by Brown University Professor Emily Oster, have created and made available the most comprehensive databaseon schools and Covid case rates for students and staff since the pandemic started. Her data—covering almost 200,000 kids across 47 states from the last two weeks of September—showed a Covid-19 case rate of 0.13% among students and 0.24% among staff. 

In the News

Wall Street, Financial Experts Call For Major Stimulus Package Despite Concerns Over Tax Increases

cited Hoover Institutionvia Newsweek
Wednesday, October 21, 2020

There are theories but no tablets of stone to guide economists as the nation struggles to emerge from the COVID-19 shutdown. Republicans urge tax cuts and limited stimulus while Democrats push for trillions in additional government spending.

In the News

Global Perspectives With John B. Taylor

mentioning John B. Taylorvia The Federal Reserve Bank of Dallas
Thursday, October 22, 2020

On October 22, Robert S. Kaplan, president and CEO of the Dallas Fed, will discuss national and global economic issues with John B. Taylor, Mary and Robert Raymond Professor of Economics at Stanford University and the George P. Shultz Senior Fellow at the Hoover Institution.

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Breaking Up (Big Tech) Is Hard To Do

with John H. Cochrane, Niall Ferguson, H. R. McMaster, Bill Whalenvia GoodFellows: Conversations From The Hoover Institution
Wednesday, October 21, 2020

This week’s antitrust lawsuit against Google poses a pertinent question at the intersection of Big Tech and free speech: from rewriting statutes to dismantling market giants such as Amazon and Facebook, what actions is the federal government willing to take to ensure the interests of Americans? Hoover Senior Fellows Niall Ferguson, H. R. McMaster, and John Cochrane weigh the latest salvo in the ongoing hostilities between Washington and Silicon Valley.

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Inequality And Its Discontents

by Michael J. Boskinvia Project Syndicate
Wednesday, October 21, 2020

Former US President John F. Kennedy famously proclaimed that “a rising tide lifts all boats.” In a growing economy, the absolute well-being of those near the top and the bottom are positively correlated, so the most important policies to pursue are those that promote strong economic growth and full employment.


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