Globalization refers to economic integration along various dimensions - international trade, the movement of people, as well as of capital. While such integration has made people better off in aggregate, it has created winners as well as losers. How much of globalization's
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The yuan has declined in value against the dollar by about 9 percent since the Spring of 2018. A weaker yuan tends to make Chinese goods cheaper in the United States and would partially offset the tariffs that the Trump administration is imposing on Chinese imports. Treasury Secretary Steven Mnuchin
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Decisions on government spending and taxation have a direct impact on the economy. Yet fiscal policy is inherently political. Past proposals to create a board— like the Federal Reserve Board — for fiscal policy, that would be comprised of experts
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Modern Monetary Theory (MMT) has attracted attention, especially among many who see in it a support for greater government spending. Representative Alexandria Ocasio-Cortez (D-NY) says MMT should be “a larger part of the conversation” and Senator Bernie Sanders (I-VT) has drawn on the advice of Professor
...The 2016 election was unique in that — for the first time in 75 years — candidates from both political parties, Donald Trump and Senator Bernie Sanders, ran for their party's nomination on platforms that were explicitly hostile to international
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It is important to understand that U.S. economic policy impacts foreign markets as well and that those effects are likely to spill back to the U.S....
In this video, William G. Gale of The Brookings Institution, and EconoFact co-founder Michael Klein discuss the distributional effects of fiscal policy and the progressivity of the US tax system.
The combination of tax and spending policies in the United States is progressive - but less so than in major European...
The growth of Gross Domestic Product (GDP) is one of the most visible measures of economic performance. There are concerns with GDP as a measure of well-being: for example, it does not include non-market production that people value (such as parents caring for children or charitable work) nor does it
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