Can The Debt Growth Be Stopped

Author: John D. Merrifield
Publisher:
ISBN: 9781498518116
Size: 77.12 MB
Format: PDF
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Can the Debt Growth be Stopped? explores new fiscal rules introduced in OECD countries to determine if new fiscal rules should be enacted in the United States. The centerpiece of the study is analysis of fiscal rules using a dynamic simulation model.

Restoring Fiscal Sanity

Author: Alice M. Rivlin
Publisher: Brookings Inst Press
ISBN:
Size: 10.43 MB
Format: PDF, ePub, Docs
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The United States is standing at a critical juncture in its fiscal outlook. After experiencing a brief period of budget surpluses at the turn of the century, the federal government will run deficits that add about $4 trillion to the national debt over the next decade. Substantial deficits will likely continue long into the future because the looming retirement of the baby boom generation will raise spending in Social Security, Medicare, and Medicaid. At the same time, the federal government appears to be neglecting spending in key areas of social and economic policy. The nation thus faces a vital choice: continue down a path toward future fiscal crisis while under investing in critical areas, or increase resources in high-priority areas while also reducing the overall budget deficit. This choice will materially affect Americans' economic status and security in the immediate future as well as over long horizons.In R estoring Fiscal Sanity, a group of Brookings scholars with high-level government experience provide an overview of the country's likely medium- and long-term spending needs and the resources available to pay for them. They propose three alternative fiscal paths that are more responsible than the current path. One plan emphasizes spending cuts, the second emphasizes revenue increases, and a third is a balanced mix between the two. The contributors address the policy choices in such areas as defense, homeland security, international assistance, and programs targeted to the less advantaged, the elderly, and other domestic priorities. In the process, they provide an understanding of the short- and long-run trade offs and illustrate how the budget can be reshaped to achieve high priority objectives in a fiscally responsible way.

The Regulatory Responses To The Global Financial Crisis Some Uncomfortable Questions

Author: Stijn Claessens
Publisher: International Monetary Fund
ISBN: 1484336658
Size: 68.97 MB
Format: PDF
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We identify current challenges for creating stable, yet efficient financial systems using lessons from recent and past crises. Reforms need to start from three tenets: adopting a system-wide perspective explicitly aimed at addressing market failures; understanding and incorporating into regulations agents’ incentives so as to align them better with societies’ goals; and acknowledging that risks of crises will always remain, in part due to (unknown) unknowns – be they tipping points, fault lines, or spillovers. Corresponding to these three tenets, specific areas for further reforms are identified. Policy makers need to resist, however, fine-tuning regulations: a “do not harm” approach is often preferable. And as risks will remain, crisis management needs to be made an integral part of system design, not relegated to improvisation after the fact.

Brookings Papers On Economic Activity Spring 2017

Author: Janice Eberly
Publisher: Brookings Institution Press
ISBN: 081573252X
Size: 77.11 MB
Format: PDF, Docs
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Brookings Papers on Economic Activity (BPEA) provides academic and business economists, government officials, and members of the financial and business communities with timely research on current economic issues.

Regional Trading Blocs In The World Economic System

Author: Jeffrey A. Frankel
Publisher: Peterson Institute
ISBN: 9780881322026
Size: 30.17 MB
Format: PDF
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he rapid growth of regional trading relationships in Europe, Asia, and Latin America has raised policy concerns about their impact on excluded countries and on the global trading system. Some observers worrythat the multilateral system may be fracturing into discriminatory regional blocs. Others are hopeful that regional agreements will go beyond what was achieved in the Uruguay Round and instead become building blocks for further global liberalization and WTO rules in new areas.Jeffrey Frankel shows through extensive empirical analysis that the new breed of preferential trade arrangements are indeed concentrating trade regionally. He then assesses whether regionalblocs are "natural" or "supernatural"b enhance or reduce global welfare. He concludes that a complete liberalization within blocs, with no reduction in barriers between blocs, would push the trading system into the supernatural zone of an excessive degree of regionalization. More balanced patterns of liberalization, however, give favorable trading arrangements that are already in effect, and the broader continent-sized groupings that are under discussion (the Americas, Europe, and the Asia Pacific).

Report To Congress On The Root Causes Of The Foreclosure Crisis

Author: Christopher E. Herbert
Publisher: DIANE Publishing
ISBN: 1437929273
Size: 11.31 MB
Format: PDF
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Analyzes data and trends in the residential housing market and reviews the academic lit. and industry press on the root causes of the current foreclosure crisis (FC). Provides a review of policy responses and recommended actions to mitigate the FC and help prevent similar crises from occurring in the future. Contents: (1) Trends in Delinquencies and Foreclosures: Regional Trends in Foreclosures; (2) Lit. Review: General Lit. on Causes of Foreclosures and Delinquencies; Lit. Assessing Causes of the Current FC; Factors Enabling Expanded Risky Lending; (3) Policy Responses to the FC: Efforts To Address Rising Foreclosures; Efforts To Reduce the Risk of High Rates of Mortgage Foreclosures in the Future; Mortgage Market Reform. Illus.

This Time Is Different

Author: Carmen M. Reinhart
Publisher: Princeton University Press
ISBN: 0691152640
Size: 16.88 MB
Format: PDF, Kindle
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Examines financial crises of the past and discusses similarities between these events and the current crisis, presenting and comparing historical patterns in bank failures, inflation, debt, currency, housing, employment, and government spending.

Choosing The Nation S Fiscal Future

Author: Division of Behavioral and Social Sciences and Education
Publisher: National Academies Press
ISBN: 0309147239
Size: 54.55 MB
Format: PDF, ePub, Mobi
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A mismatch between the federal government's revenues and spending, now and in the foreseeable future, requires heavy borrowing, leading to a large and increasing federal debt. That increasing debt raises a serious challenge to all of the goals that various people expect their government to pursue. It also raises questions about the nation's future wealth and whether too much debt could lead to higher interest rates and even to loss of confidence in the nation's long-term ability and commitment to honor its obligations. Many analysts have concluded that the trajectory of the federal budget set by current policies cannot be sustained. In light of these projections, Choosing the Nation's Fiscal Future assesses the options and possibilities for a sustainable federal budget. This comprehensive book considers a range of policy changes that could help put the budget on a sustainable path: reforms to reduce the rate of growth in spending for Medicare and Medicaid; options to reduce the growth rate of Social Security benefits or raise payroll taxes; and changes in many other government spending programs and tax policies. The book also examines how the federal budget process could be revised to be more far sighted and to hold leaders accountable for responsible stewardship of the nation's fiscal future. Choosing the Nation's Fiscal Future will provide readers with a practical framework to assess budget proposals for their consistency with long-term fiscal stability. It will help them assess what policy changes they want, consistent with their own values and their views of the proper role of the government and within the constraints of a responsible national budget. It will show how the perhaps difficult but possible policy changes could be combined to produce a wide range of budget scenarios to bring revenues and spending into alignment for the long term. This book will be uniquely valuable to everyone concerned about the current and projected fiscal health of the nation.

Crisis Management And Resolution

Author: Ceyla Pazarbasioglu
Publisher: International Monetary Fund
ISBN: 1455249211
Size: 29.12 MB
Format: PDF, ePub
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Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.