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Analysis and Commentary

Good News On Employment

by David R. Hendersonvia EconLog
Friday, February 1, 2019

The latest data (for January) on employment and unemployment came out this morning and the news is good. The biggest news: The labor force participation rate, which has been the sick puppy this century, rose by 0.1 percentage point, from 63.1 percent to 63.2 percent. The employment to population ratio rose by 0.1 percentage point, from 60.6 percent to 60.7 percent.

In the News

Chart Of The Day: The Inverse Relationship Between The Top Marginal Income Tax Rate And The Tax Burden On ‘The Rich’

quoting Thomas Sowellvia AEI
Friday, February 1, 2019

Now that Rep. Ocasio-Cortez wants to raise the top personal income tax rate to 70% and Rep. Ilhan Omar thinks 90% would be even better, it might be a good time to review the history over time from 1960 to 2013 of: a) the top marginal tax rate in every year and b) the share of total income taxes collected from the top one-half percent of taxpayers.

Featured

New Hoover Institution Digital Products Highlight Fiscal Challenges And The Need To Fix America’s Chronic Debt Problem

featuring John F. Cogan, John Raisian, Hoover Institutionvia AP News
Thursday, January 31, 2019

Scholars at the Hoover Institution have created a new web platform, America Off Balance, that hosts digital products highlighting the looming fiscal disaster that the country will face—unless tough choices are made, and made soon.

In the News

Symposium: Government Agencies Shouldn’t Get To Put A Thumb On The Scales

quoting Richard A. Epstein, Michael McConnellvia SCOTUS Blog
Thursday, January 31, 2019

All James Kisor may want is for the Department of Veterans Affairs to alter the effective date of his veteran disability benefits, but his legal challenge to the VA’s denial of his claims has given the Supreme Court an opportunity to revisit one of the more problematic doctrines in administrative law: Auer deference, under which federal courts are obligated to defer to permissible agency interpretations of their own regulations.

Featured

Reflections on Ayn Rand 114 Years After Her Birth

Thursday, January 31, 2019
Hoover Institution, Stanford University

Ayn Rand was one of the first to offer an alternative vision of the knowledge economy where intellect truly drives a creative and free marketplace, Hoover scholar Jennifer Burns says.

News
In the News

Philip Lane Sole Candidate For Top ECB Role

quoting Melvyn B. Kraussvia Financial Times
Thursday, January 31, 2019

Philip Lane looks set to secure the job of replacing Peter Praet as the European Central Bank’s chief economist, becoming the first Irish member of the bank’s top-ranking executive board in the process.

Interviews

Raghuram Rajan: ‘The 7% Growth That We’ve Achieved Is Not To Be Sneered At’

interview with Raghuram Rajanvia Hindu Business Line (India)
Thursday, January 31, 2019

Hoover Institution fellow Raghuram Rajan discusses a wide range of issues, including the need for the next wave of economic reforms, the reality of India’s ease of doing business, and consolidation in the banking sector. 

Analysis and Commentary

Dynamism Diminished: The Role Of Housing Markets And Credit Conditions

by Steven J. Davisvia University of Chicago
Thursday, January 31, 2019

The Great Recession of 2007-09 raised several issues about the relationship of housing markets to economic activity. One issue concerns the impact of housing prices on the development of new and young firms. Another involves how housing market ups and downs affect local economies.

In the News

How Public Pension Funds Are Subsidizing Infrastructure

quoting Joshua D. Rauhvia Seeking Alpha
Wednesday, January 30, 2019

Public pension funds in the United States invest in infrastructure. Unfortunately, they aren't very good at it. A recent working paper of the NBER concludes, indeed, that public pensions are so bad at such investments that they-and thus either the public or its retirees or both-are unwittingly subsidizing infrastructure projects.

In the News

The Dangerous Allure Of 'Medicare For All'

quoting Lanhee J. Chenvia Chicago Tribune
Wednesday, January 30, 2019

Like an oasis shimmering before parched travelers in a sun-baked desert, “Medicare for all” holds a powerful allure for Democrats. It’s a clear concept based on a beloved program, offering to achieve the long-standing goal of universal health insurance. It will be hard for any Democrat running for president to reject the idea.

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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