All Tagged

policy

Filter

September 2, 2022

Reviews

Politics and Expertise

On Elizabeth Popp Berman’s Thinking Like an Economist and Paul Sabin’s Public Citizens

Explanations for the rise of neoliberal policymaking in the United States commonly take one of two forms: a political history or an intellectual history. The first focuses on the overlapping crises of the 1970s and the rebalancing political coalitions competing…

August 24, 2022

Analysis

A Permanent Bailout?

Central bank interventions in noncrisis times

The 2008 crisis heralded a new age in central banking. The scale and nature of central bankers’ interventions was unprecedented. Traditionally, as lenders of last resort, central banks lend at escalating rates against good collateral to solvent institutions in times…

August 13, 2022

Analysis

Rating Sovereigns

Sovereign ratings in a financialized world

As dark clouds gather on the horizon of the global economy in the third year of the pandemic—with debt stocks swollen, interest costs rising, and growth undermined by energy insecurity and war—policy makers and pundits are anxiously watching sovereign credit…

August 5, 2022

Analysis

Pragmatic Prices

An excerpt from How China Escaped Shock Therapy

European and American traditions of economic theorizing on price control are intimately connected with war—practices and debates over price control peaked amid the two world wars. The experience of the First World War had been one of inflation and limited…

July 30, 2022

Sources

This week, Russia’s state-run energy company Gazprom drastically cut gas supplies— delivered via the Russia-Germany Nord Stream 1 pipeline—to Europe. The move amplified longstanding concerns around European dependence on Russian energy.

July 28, 2022

Reviews

The Last Days of Sound Finance

On Karen Petrou’s “Engine of Inequality”

When the Federal Reserve turned to unconventional monetary policy in 2008, many feared that we would soon see a return to the wage-price spiral of the 1970s. The combination of deficit spending and monetary ease raised the old specter of…

July 23, 2022

Sources

This month China narrowly missed its growth targets, sparking speculation over the economic impacts of its zero-Covid policy. The contraction was heavily shaped by local governments, who, struggling to get loans from institutional bond investors, have begun to offer high…

July 16, 2022

Sources

In the midst of a global semiconductor shortage, the US Senate is considering a bill that would fund $52 billion in chip subsidies for domestic production. Today, the vast majority of semiconductors are produced in East Asia, and 90 percent…

July 7, 2022

Sources

Amid the ongoing global energy crisis, French Prime Minister Emmanuel Macron has announced the full renationalization of Electricite de France (EDF), the country's decades old multinational electric utility company.

May 25, 2022

Analysis

The Price of Oil

The history of control and decontrol in the oil market

In October 2021 the price of gasoline in the United States rose to its highest level in seven years. There were many reasons for this: surging demand following a year-and-a-half of lockdown, a slower than expected recovery of oil production,…

May 19, 2022

Analysis

Politics and the Price Level

Inflation and the governance of prices

In 1959, the leaders of the Organization for European Economic Cooperation (OEEC, now the OECD) appointed a Group of Independent Experts “to study the experience of rising prices” in the recent history of the advanced capitalist countries. Between the end…

April 30, 2022

Analysis

The Whole Field

Markets, planning, and coordinating the green transformation

In recent years, an intense debate has unfolded over the policy and politics of the green transition. Politically, the tide appears to be receding: As the Biden agenda has lost momentum and rising inflation moves center stage, the near-term prospects…

April 16, 2022

Sources

The latest version of the Omnibus spending bill ends the extension of child nutrition waivers, which expanded access to meals during the school year and summer. The move foreshadows challenges for school meal programs, a cornerstone of welfare policy since…

April 2, 2022

Sources

This week, approximately 50 million workers in India engaged in a national strike against what they see as the “anti-people policies” of Narendra Modi's government. The public banking sector experienced one of the largest disruptions, with employees protesting government proposals for privatization. 

March 24, 2022

Interviews

Tax Regimes

An interview with Robin Einhorn

Tax cuts and austerity have been a central feature of American politics in recent decades—just recently, the Build Back Better bill was blocked under the guise of fiscal responsibility. The work of Robin Einhorn, Preston Hotchkis Professor in the History…

January 29, 2022

Sources

Concerns over inflation have led to an uptick in research and policy debate over the specific sectoral drivers of price increases—and tools for their management. In a new article in Health Affairs, ROBERT BERENSON and ROBERT MURRAY review the literature…

October 2, 2021

Sources

A rise in deportations of Haitian immigrants at the US-Mexico border has brought another cycle of media attention to the US immigration system and border security apparatus.

September 18, 2021

Sources

This week, millions in California voted in support of Governor Gavin Newsom in a recall election. California is one of 19 states that grants power to voters to recall a sitting governor, a law which was passed in 1911 as…

September 11, 2021

Sources

Long held to be essential for development, capital flows have come under increasing scrutiny for their impact on the financial stability and autonomy of low and middle income countries.

September 4, 2021

Sources

Haiti won independence from France in 1804, but in return for recognizing its formerly enslaved colony, France later forced Haiti to pay an indemnity of 150 million francs and give preferential treatment to French exports. The debt was equivalent to…

July 31, 2021

Sources

MICRO-STRATEGY Accounts of major historical shifts tend to treat states as unified actors responding to external incentives. In a new article, INGA RADEMACHER complicates this assumption. Drawing on archival documents from the German Federal Cabinet and Bundesbank Council from 1960-1981,…

July 3, 2021

Sources

The impending retreat of US troops from Afghanistan has brought renewed discussion on Pakistan amidst both US and Chinese alliances. Much of the scholarship on Pakistan centers around its military and foreign policy, but less attention has been given to…

June 24, 2021

Analysis

Preferred Shares

Inflation, wages, and the fifty-year crisis

In one of her first statements as Treasury Secretary, Janet Yellen said that the United States faced “an economic crisis that has been building for fifty years.” The formulation is intriguing but enigmatic. The last half-century is piled so high…

May 15, 2021

Sources

Use of the most recent government stimulus varied by income, with richer households saving the money and poorer ones using it to pay off debt.

April 24, 2021

Sources

The US government spends upwards of $20 billion annually on domestic agricultural support programs, but with over 20 percent of farm products exported, these programs interact with trade policies that have fluctuated in the last century between protectionism and liberalization.

April 6, 2021

Analysis

Risks and Crises

On market makers and risk managers post-2008.

For a long time, Bagehot’s rule, “lend freely, against good collateral, but at a high rate,” restored the Fed’s control over the money market and helped end banking panics and systemic banking crises. This control evaporated on September 15, 2008,…

March 27, 2021

Sources

Frequent mass shootings and recurring political struggle over gun control measures are uniquely American social phenomena.

March 13, 2021

Sources

The Covid-19 pandemic has brought attention to the underfunding of US public health infrastructure over the last several decades. Alongside a fragmented system, a gap has emerged between public health and clinical care, with consequences for the public.

February 27, 2021

Sources

Since November 2020, thousands of Indian farmers from Punjab, Haryana, and other states have protested the implementation of national market-based agricultural reforms. A look to a series of liberalization measures in the 1990s, which did not specifically address agriculture, reveals…

January 23, 2021

Sources

Outside of Brazil, the Bolsa Familia is known as the hallmark social policy of the former President Lula and remains the world's largest conditional cash transfer program. Less well known is the history of Brazil's social policy in the early…

January 16, 2021

Analysis

Supercomputer

The Control Data Corporation and global value chains.

In March 1976, Deputy Secretary of the Department of Defense (DOD), William “Bill” Clements invited William “Bill” C. Norris, CEO and Chairman of the supercomputer producer Control Data Corporation (CDC) to a closed-door meeting at the Pentagon.

January 9, 2021

Analysis

The Deflationary Bloc

Hyman Minsky and the politics of inflation.

An effective way to write the history of the last thirty years of the twentieth century,” economist Albert Hirschman wrote in 1985, “may well be to focus on the distinctive reactions of various countries to the identical issue of worldwide…

November 18, 2020

Analysis

The Student Debt Crisis is a Crisis of Non-Repayment

Borrowers are increasingly unable to pay down their student loans, leading to mounting balances and an intensifying debt crisis.

Think of the student debt crisis as an overflowing bathtub. On the one hand, too much water is pouring in: more borrowers are taking on more debt. That is thanks to increased demand for higher education in the face of…

October 16, 2020

Analysis

Data as Property?

On the problems of propertarian and dignitarian approaches to data governance.

Since the proliferation of the World Wide Web in the 1990s, critics of widely used internet communications services have warned of the misuse of personal data. Alongside familiar concerns regarding user privacy and state surveillance, a now-decades-long thread connects a…

September 17, 2020

Analysis

Unceasing Debt, Disparate Burdens: Student Debt and Young America

JFI’s interactive map presents the geography of student debt.

Since the Great Recession, outstanding student loan debt in the United States has increased by 122% in 2019 dollars, reaching the staggering sum of $1.66 trillion in June of this year. Student loan debt has grown faster than other debt…

September 5, 2020

Sources

In addition to straining America's existing welfare infrastructure, the pandemic has fundamentally altered labor markets and generated a wide range of new social needs. Policy responses to these changing circumstances have the potential to shape the trajectory of US inequality…

July 27, 2020

Sources

Catastrophic deficiencies in the federal response to the Covid-19 pandemic have led to renewed discussion over federalism and its discontents. The divergence among state responses to the crisis in the absence of federal guidance has produced analyses of Trump’s unique,…

July 27, 2020

Analysis

Essential Infrastructures

The case for sovereign investment in telecommunications infrastructure

How should the fabric of social life, especially as it is rewoven by the pandemic, relate to the private ownership of telecommunications?

July 22, 2020

Analysis

Laws of the Land

Property rights and extraction in the mineral frontier

“The Mining Law of 1872,” reported California Democrat Alan Lowenthal in May 2019, "is one of the most obsolete laws still on the books.”

July 10, 2020

Analysis

The Crisis and the Free Market

On crisis, partisanship, and public policy

Will the current crisis transform America’s politics and economic institutions? With unemployment higher than at any point since the Great Depression, rising food insecurity, and an increasingly muscular role for government—are we witnessing the beginning of the end of the…

July 3, 2020

Analysis

Pandemic and Poverty

What the pandemic teaches us about poverty measurements

Since the onset of the Covid-19 pandemic in the United States, more than 40 million people have applied for unemployment benefits.

June 25, 2020

Analysis

Mapping concentration and prices in the US higher education industry During and after the Great Recession, public funding for higher education was slashed as part of state budget austerity. Staff and programs were cut and tuition rose; in many states,…

June 8, 2020

Sources

As commentators and policymakers have scrambled to find explanations for and responses to the unprecedented uprisings against police brutality across the United States, interest in the role of police unions in local politics has soared. Recent research into the question…

June 2, 2020

Sources

This week has seen policymakers, scholars, and the public debate the meaning of collective violence. While political and media discourse often fails to examine the long-term effects of social unrest, a vast literature grapples with the mechanisms that link protests…

May 26, 2020

Sources

Analyses of variation in state-level responses to the coronavirus tend to focus on party determination: On the whole, states led by Democrats have been found to undertake more rapid and extensive responses to the crisis. The focus on immediate political…

May 4, 2020

Sources

Following the comparative success of South Korea and Singapore to flatten the Covid-19 curve, governments around the world have been discussing the merits and feasibility of tech-aided contact tracing systems. (Whether these comparative public health successes are actually attributable to…

April 28, 2020

Sources

It's been a turbulent week for the US Postal Service. With revenues plummeting as mail volume drops, the Postal Worker's Union leader recently estimated that the service is likely to literally "run out of money" by October. The crisis has…

April 21, 2020

Sources

Among the diverse local and national policy responses undertaken to combat the pandemic in recent months, Kerala's has been notable. Within the broader context of Indian economic development, Kerala's government has a tradition of successful redistributive development policies, sometimes referred…

April 13, 2020

Sources

Scholars of the global food system unravel a vast web linking trade policy, public health, economic development, labor issues, supply chain logistics, and so on. The pandemic has already prompted states to break with the implicit rules underpinning global food…

April 7, 2020

Sources

Comparisons of responses to the Covid-19 crisis across national lines yield as many questions as answers. Divergent histories of public health programs, differences in cultural norms, population density, age distributions, and internal migration patterns create a muddy picture for causal…

March 31, 2020

Sources

The need to formulate a unified COVID response has placed pressure on European integration in recent days, with Germany and the Netherlands resisting Southern European calls for the issuing of "coronabonds." A 2018 paper by John Ryan and John Loughlin…

March 16, 2020

Sources

At present it's difficult to think of much else beyond the fragility of our global economic infrastructure. A 2012 discussion paper by RICHARD BALDWIN looks at global supply chains: their history, future, and policy implications.

February 24, 2020

Sources

Of the various issues mired in severe and ongoing party polarization, climate crisis is among the most puzzling. Despite longstanding discussions of bipartisan market-based policy proposals like carbon taxes and cap and trade, large-scale government and industry action remains elusive.

February 18, 2020

Sources

In an employer-sponsored healthcare system like that of the United States, deteriorating labor market protections have immediate consequences for access to healthcare. Democratic primary candidates have presented a number of proposals to address declining rates of insurance, ranging in degrees…

January 23, 2020

Analysis

What Would a UBI Fund?

Lessons from the 1970s experiments in guaranteed income

One of the questions at the heart of contemporary debates over the merits of UBI is ‘what would it fund?’ In other words, what type of activities would it encourage? There are of course the widely debunked quibbles about guaranteed…

January 17, 2020

Analysis

UBI & the City

A new working paper models the effects of a basic income in New York City

Skeptics of guaranteed income tend to worry about the policy’s inflationary effects; absent rent regulation, for instance, one might expect housing costs to rise in proportion to the increase in disposable income generated by the policy.

July 29, 2019

Sources

Many recent policy proposals are variations on European programs implemented throughout the twentieth century. Despite their marked diversity, European welfare states share a foundation of social protections largely responsible for their lower rates of inequality. Theories on the development of…

July 1, 2019

Sources

How can evidence inform the decisions of policymakers? What value do policymakers ascribe to academic research? In January, we highlighted Yale's Evidence in Practice project, which emphasizes the divergence between policymakers' needs and researchers' goals. Other work describes the complexity…

June 10, 2019

Sources

Debates over the political impacts of Central Bank Independence (CBI) reached their peak in the late 90s and early 2000s, due to rising inequality and the volatility of financial markets. Initiated with the 1977 Federal Reserve Act and Paul Volcker’s…

April 29, 2019

Sources

In nearly every major urban center, housing affordability is in crisis. Since the 1960s, median home value has risen by 112% across the country, while median owner incomes rose just 50%. For renters, especially since 2008, the problem is increasingly…

March 1, 2019

Analysis

The Case for an Unconditional Safety Net

The 'magic bucket' of universal cash transfers

Imagine a system where everyone had a right to basic material safety, and could say “no” to abuse and exploitation. Sounds utopian? I argue that it would be quite feasible to get there, and that it would make eminent economic,…

January 5, 2019

Sources

We’re beginning with a report from Evidence in Practice, a project from the Yale School of Management. The report focuses on how to integrate rigorously researched evidence with policy and practice, with an emphasis on international development. The needs numerous…

December 1, 2018

Sources

GREEN INFLUENCE A discussion of different approaches to climate policy Last week, the U.S. government released the Fourth National Climate Assessmentwhich outlined the dire economic and environmental consequences of climate change. Instead of highlighting key findings of the report—two good…

November 17, 2018

Sources

PLACE-BASED SUBSIDIES | UBERLAND | HISTORY OF QUANTIFICATION STAGNANT INFLUENCE The inefficiency of lobbying A few weeks ago, we spotlighted work by Elliott Ash et. al. on the startling influence of the Manne economics seminars in shaping judicial decision-making. This…

October 25, 2018

Uncategorized

The Urban Commonwealth

On social wealth funds and urban wealth funds

As the federal government continues to abdicate responsibility for urban investment, cities face a depressing modern calculus.

September 8, 2018

Sources

WEALTH BEGETS WEALTH Matt Bruenig's Social Wealth Fund proposal, and responses Last week, MATT BRUENIG of the PEOPLE’S POLICY PROJECT published the most detailed version of a bold policy he’s been writing about for a long time: a Social Wealth…

September 1, 2018

Sources

CONSTRAINED POSSIBILITIES On the relationship between academic economics and public policy In a recent working paper, ELIZABETH POPP BERMAN discusses the interconnected fields of academic economics and public policy. The paper conceptualizes the translation of certain academic ideas into public…