Director, Hutchins Center on Fiscal & Monetary Policy, Brookings institution. Contributing correspondent, The Wall Street Journal

Does the tax code reduce income inequality?

csmonitor.com — There is, for good reason, a lot of focus these days on the widening gap between the top and the bottom in the US economy. Since it's (almost) Tax Day, that April 15 deadline for filing tax returns, it's a good time to ponder a very simple question: How much does the US tax system shrink the gap between rich and poor?

Ahead of IMF Meetings, a Look at Shifting Economic Risks

blogs.wsj.com — The International Monetary Fund hosts its spring meetings later this week, and in her curtain-raiser for the event, Managing Director Christine Lagarde uses the word "risk" a dozen times.

Ahead of IMF Meetings, a Look at Shifting Economic Risks

blogs.wsj.com — It is the season, in Washington, to warn about risks. In her curtain-raiser for the International Monetary Fund's spring meetings, Managing Director Christine Lagarde used the word a dozen times. But the threats to the world economy are shifting.

Hutchins Roundup: Fiscal Consolidations, Labor Force Participation, and More

brookings.edu — Ravi Balakrishnan, Mai Dao, Juan Solé, and Jeremy Zook of the International Monetary Fund estimate that of the roughly three percentage point decline in the U.S. labor force participation rate from 2007 to 2013, between a quarter and a third is reversible.

The Hutchins Center Explains: How the Fed Will Raise Interest Rates

brookings.edu — The Federal Reserve cannot raise interest rates as they did before the financial crisis, explain David Wessel and Pari Sastry, who offer background on two tools-interest on excess reserves (IOER) and reverse repos-that allow the Fed to raise its policy rate, irrespective of the size of its balance sheet.

How much does the tax code reduce inequality?

brookings.edu — There is, for good reason, a lot of focus these days on the widening gap between the top and the bottom in the U.S. economy. Since it's (almost) Tax Day, that April 15 deadline for filing tax returns, it's a good time to ponder a very simple question: How much does the U.S.

The Hutchins Center Explains: Productivity slowdown

brookings.edu — One of the big economic mysteries of the moment is why productivity - output per hour of work - is growing so slowly. From 1994-2005, U.S. productivity growth averaged 2.8% per year, but in the years since, it has grown only by 1.4% annually. Why is this such a big deal?

Ben Bernanke blogs on low interest rates and secular stagnation

brookings.edu — Ben Bernanke, the former Federal Reserve chairman who is now a Distinguished Fellow in Residence here at Brookings, launched his blog today with an explanation of why interest rates - not just in the U.S. but around the world - are so low. (It isn't all the Fed's doing, he says.)

Why are unions so focused on fighting trade deals?

brookings.edu — A shrinking slice of American union workers are in industries exposed to imports and other pressures from international trade. Yet, among all the threats to organized labor and the wages of American workers, the AFL-CIO has made a priority of fighting the Obama administration on the Trans-Pacific Partnership trade deal, which probably won't much have much economic impact anyhow.

Why Are Unions So Focused on Fighting Trade Deals?

blogs.wsj.com — A shrinking slice of American union workers are in industries exposed to imports and other pressures from international trade. Yet, among all the threats to organized labor and the wages of American workers, the AFL-CIO has made a priority of fighting the Obama administration on the Trans-Pacific Partnership trade deal, which probably won't much have much economic impact anyhow.
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