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Brookings Papers on Economic Activity
Journal Prestige (SJR): 6.851  Citation Impact (citeScore): 2 Number of Followers: 46  Open Access journalISSN (Print) 0007-2303 - ISSN (Online) 1533-4465 Published by Brookings Institution  [1 journal]
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- Saving the heartland: Place-based policies in 21st Century America
Authors: Benjamin Austin; Edward Glaeser, Lawrence Summers
Abstract: America’s regional disparities are large and regional convergence has declined if not disappeared. This wildly uneven economic landscape calls for a new look at spatially targeted policies. There are three plausible justifications for place-based policies–agglomeration economies, spatial equity and larger marginal returns to targeting social distress in high distress areas. The second justification is…
PubDate: Thu, 08 Mar 2018 05:05:33 +000
- Is automation labor-displacing' Productivity growth, employment, and
the labor share
Authors: David Autor; Anna Salomons
Abstract: Is automation a labor-displacing force? This possibility is both an age-old concern and at the heart of a new theoretical literature considering how labor immiseration may result from a wave of "brilliant machines," which is in part motivated by declining labor shares in many developed countries. Comprehensive evidence on this labor-displacing channel is at…
PubDate: Thu, 08 Mar 2018 05:04:31 +000
- Safety net investments in children
Authors: Hilary W. Hoynes; Diane Whitmore Schanzenbach
Abstract: In this paper, we examine what groups of children are served by core childhood social safety net programs—including Medicaid, EITC, CTC, SNAP, and AFDC/TANF—and how they have changed over time. We find that virtually all gains in spending on the social safety net for children since 1990 have gone to families with earnings, and…
PubDate: Thu, 08 Mar 2018 05:03:35 +000
- Liquidity crises in the mortgage market
Authors: You Suk Kim; Steven M. Laufer, Karen Pence, Richard Stanton, Nancy Wallace
Abstract: Nonbanks originated about half of all mortgages in 2016, and 75% of mortgages insured by the FHA or VA. Both shares are much higher than those observed at any point in the 2000s. We describe in this paper how nonbank mortgage companies are vulnerable to liquidity pressures in both their loan origination and servicing…
PubDate: Thu, 08 Mar 2018 05:02:32 +000
- Mortgage market design: Lessons from the Great Recession
Authors: Tomasz Piskorski; Amit Seru
Abstract: Rigidity of mortgage contracts and a variety of frictions in design of the market and the intermediation sector hindered efforts to restructure or refinance household debt in the aftermath of the crisis. Using a simple framework that builds on mortgage design literature, we illustrate that automatically indexed mortgage contracts or debt relief policies can…
PubDate: Thu, 08 Mar 2018 05:01:37 +000
- Macroeconomic effects of the 2017 tax reform
Authors: Robert J. Barro; Jason Furman
Abstract: This paper uses a cost of capital framework to analyze the long-run steady state and transition path for GDP as a result of the 2017 tax law. For the law as written, the long-run increase in corporate productivity would be 2.5 percent, which translates into a 0.4 percent increase in GDP after ten years—or…
PubDate: Thu, 08 Mar 2018 05:00:38 +000
- Where have all the workers gone' An inquiry into the decline of the
U.S. labor force participation rate
Authors: Alan B. Krueger
Abstract: The increase in opioid prescriptions from 1999 to 2015 could account for about 20 percent of the observed decline in men’s labor force participation (LFP) during that same period. In “Where have all the workers gone? An inquiry into the decline of the U.S. labor force participation rate” (PDF), Princeton University’s Alan Krueger examines the…
PubDate: Thu, 07 Sep 2017 04:00:24 +000
- Strengthening and streamlining bank capital regulation
Authors: Robin Greenwood; Samuel G. Hanson, Jeremy C. Stein, Adi Sunderam
Abstract: Bank capital requirements shouldn’t be lowered, but post-crisis rules should be simplified to ensure all banks are subjected to a single constraint dictating minimum requirements, according to a new financial regulatory framework outlined in “Strengthening and streamlining bank capital regulation” (PDF) by Harvard’s Robin Greenwood, Samuel G. Hanson, Jeremy C. Stein, and Adi Sunderam. Stein…
PubDate: Thu, 07 Sep 2017 04:00:21 +000
- The European trust crisis and the rise of populism
Authors: Yann Algan; Sergei Guriev, Elias Papaioannou, Evgenia Passari
Abstract: Economic insecurity resulting from the Great Recession—as opposed to anti-immigrant or xenophobic attitudes—is an important driver of populism and voting for anti-establishment political parties throughout Europe. In “The European trust crisis and the rise of populism” (PDF), Yann Algan of Sciences Po, Sergei Guriev of EBRD and Sciences Po, Elias Papaioannou of the London Business…
PubDate: Thu, 07 Sep 2017 04:00:16 +000
- A symposium on business tax reform
Authors: Alan Auerbach; Martin Feldstein, Gita Gopinath, James Hines
Abstract: The U.S. corporate tax rate is one of the highest in the world and much has been made about the prospects of corporate tax reform in 2017. Both House Republicans and President Trump have released their visions of changes to corporate taxes. But what would these proposals mean for the economy? Are they targeting the…
PubDate: Thu, 07 Sep 2017 04:00:11 +000
