Economics

Sunday, May 19, 2013

What AEI folks are saying about the IRS scandal

Abby McCloskey | May 17, 2013, 2:19 pm

A lot has happened this week. We learned that IRS higher-ups have known about targeting conservative groups since 2011. And yet they did nothing. On Wednesday, IRS acting commissioner Steven Miller resigned. On Thursday, Joseph Grant, commissioner of the tax-exempt … read more >

Pethokoukis, Economics, U.S. Economy

Is inequality hurting the US economic recovery?

James Pethokoukis | May 17, 2013, 10:55 am

Stock markets and corporate profits are up, wage growth anemic. So Fed Governor Sarah Bloom Raskin is wondering whether the “large and increasing amount of inequality in income and wealth” is hampering the current US economic recovery and perhaps “pose … read more >

Pethokoukis, Economics, U.S. Economy

The US has more austerity than Europe. So why is America doing OK?

James Pethokoukis | May 17, 2013, 9:29 am

So which economy in the world is “suffering” most from austerity? As Capital Economics notes, the combination of US tax hikes and spending cuts means that over the next two years the federal budget deficit is expected to fall by … read more >

Pethokoukis, Economics, Regulation

Why one-size-fits-all patent law is a bad idea

James Pethokoukis | May 16, 2013, 2:02 pm

Alex Tabarrok has argued that patent law should be stronger in business sectors where there are high “innovation-to-imitation costs” such as pharmaceuticals and weaker where costs are lower, such as software. Tabarrok: So, pharmaceuticals are really the classic case of where the … read more >

Image Credit: US Mission Geneva (Flickr) (CC BY-ND 2.0)

Economics, Health Care

Sebelius the philanthropist

Spencer Cowan | May 16, 2013, 11:44 am

What do you do when your boss asks you to purchase a tchotchke for his daughter’s school fundraising drive? If you are at all concerned about your career, you pinch your nose and pony up. The boss might be obnoxious, … read more >

Economics, Monetary Policy, Pethokoukis

Look at Japan. Look at the euro zone. And the GOP wants the Fed to be more like the ECB?

James Pethokoukis | May 16, 2013, 11:35 am

Republicans should pay close attention to what’s happening in Japan, where the Bank of Japan’s new bond-buying program is already bearing fruit. As the Financial Times reports, ”Japan’s economy grew at the fastest pace among Group of Seven countries last quarter, … read more >

Economics, International economy

Japan’s GDP report isn’t as great as it looks

John Makin | May 16, 2013, 11:26 am

Less noticed in Japan’s GDP report is the fact that the GDP deflator inflation measure fell at 2% SAAR, so that nominal GDP growth of just 1.5% resulted in the reported 3.5% real growth rate. Deflation remains alive and well … read more >

Economics, Monetary Policy

If you want to break up the banks, you should want to break up the Fed

Abby McCloskey | May 15, 2013, 12:48 pm

Tracing out the break-up-the-banks logic leads to some uncomfortable places. Alex Pollock’s new American Banker piece shows how the very reasons advocated for breaking up the banks (“they are too big, too leveraged, create too much systemic risk, have too … read more >

Pethokoukis, Economics, U.S. Economy

Please, debt levels do matter

James Pethokoukis | May 15, 2013, 12:42 pm

OK, the CBO now projects the 2013 deficit will weigh in at $642B (4% of GDP) in 2013 and it will continue on a downward track (under current law) through 2015. Why: a) better economy, b) slowdown in the rate … read more >

Economics, Health Care

Ranbaxy case shows depth of problems with Indian generics

Roger Bate | May 15, 2013, 11:41 am

Nine years ago, I was one of the people contacted by an employee of the Indian drug company Ranbaxy. He alleged numerous fraudulent activities and I responded by increasing my investigations of fraud and drugs (read more here). He has … read more >

International conference on collateral risk: Moderating housing cycles and their systemic impact

Experts from the US, Europe, Canada, and Asia will address efforts to moderate housing cycles using countercyclical lending policies.

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Economic liberty and human flourishing: Perspectives from political philosophy

At this event, three expert panelists will examine this relationship from the perspectives of influential philosophers such as Aristotle, Alexis de Tocqueville, and representatives of the Scottish Enlightenment.

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Public employee pensions: How large are the deficits? What changes can be made?

At this event, panelists will address pension reform challenges by presenting the results of three research papers commissioned by AEI through a generous grant from the Smith Richardson Foundation.

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