Seniors working, or ‘sworking,’ is a true potential win-win that could help alleviate pressure both on public pensions and on the elderly’s
Economics
The Economic Consequences of Legal Behavior
Many thriving societies, such as Germany and Japan, adhere closely to the letter of the law. However, allowing for a certain degree of latitude
The Mystery of US Interest Rates
The near-consensus since the start of the pandemic has been that there are powerful fundamental factors keeping the neutral interest rate
Putin’s Silk Road Around Sanctions
The overriding imperative for the West must be to make Russia’s war against Ukraine as costly as possible for Russians. Why, then, are
Carbon Credits Hold the Key to Combating Deforestation
After 15 years of planning and preparation, Ghana is poised to offer carbon credits to buyers in the Global North, who, facing accusations
The Submergence of Emerging Markets
Despite what many think, the world as a whole has become vastly more equal, thanks to decades of rapid growth in China, India, and other emerging
The Fiscal State of the Union
If political leaders in the US don’t tackle both structural fiscal adjustment and tax reform, 2025 will be a year of reckoning.
Explaining Americans’ Pessimism About a Strong Economy
At least six reasons have been advanced to explain the apparent disconnect between US economic indicators and public-opinion surveys. While
Why Is China Stalling Out?
China’s faltering growth reflects waning confidence in the country’s governing elite.
America’s Steel Madness
Economic common sense is too often sacrificed for political expediency. Steel may be the next such case.
The Economic State of the Union
As President Biden prepares to deliver his State of the Union address, it is an opportune time to consider what the economic data says about
What Is the Fed Thinking?
The US Federal Reserve has clearly signaled that it is in no hurry to align its policy interest rate with the presumed value of the neutral
Credit Bidenomics for Rising US Wages
After five decades of widening inequality and stagnant pay, low- and middle-income workers in the United States experienced a significant
The Next Inflationary Surge
Negative supply shocks are likely to become more frequent, leading to greater inflation volatility. But monetary policy cannot address adverse
2024 Elections: The Trump “Dummy” Factor
The Trump effect is well-known, but not for what the conventional wisdom believes — the data suggest that Trump consistently hurts his and
Davos and the Perils of Prediction
Why is it that a gathering of the world’s wealthiest and most powerful people tends to produce such an inability to predict the future?
A Progressive Green Growth Narrative
Although many countries have the means to direct new investment toward decarbonization and other socially and environmentally beneficial outcomes,
It’s (More Than) the Economy, Stupid!
Lower inflation and low unemployment, alone, may not ensure Biden’s reelection. Voter economic angst runs deeper and broader than simple
Confronting Our Four Biggest Economic Challenges
Economics has the tools to address climate change, inequality, development and globalization. But it must use them more wisely.
How Fiscal is the Fed?
Central bank independence is considered essential for the effective conduct of monetary policy. But has that independence been compromised
Clarifying America’s Great Inequality Debate
Inequality has become more pronounced in recent decades. It is a function of a dysfunctional economy. Recognition is the first step toward
The Biggest Threats to Global Economic Stability
While the sovereign-debt crisis that is currently unfolding across the developing world may not have the immediate global impact of the 2008-09
Private Jets, Climate and Taxes
In a world beset by inequality, private jets represent the tip of the spear. It is time to do something about it.
The Inflation Challenge in 2024
The latest consumer price data in major advanced economies offer some encouraging news about headline inflation trends; but core inflation