- Economics
- US Labor Market
- Budget & Spending
- Monetary Policy
- Law & Policy
- Regulation & Property Rights
With the global economy mired in recession and financial crisis, policymakers everywhere have launched a series of monetary, financial, and fiscal responses. Nevertheless, economies continue to contract, unemployment to rise, and wealth to decline.
Countries’ policy responses have ranged from modest to immense. China has undertaken a 6%-of-GDP stimulus package aimed (mostly) at infrastructure; the United States has enacted a two-year $800 billion spending and tax rebate package. The Federal Reserve and the Bank of England lowered short-term interest-rate targets to near zero and are adopting “quantitative easing” – i.e., continuous infusions of money...
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