Those who bought homes in the 1980s and 90s experienced significant gains in wealth. But for families who purchased a home in the years before the 2008 recession, especially those with low income, homeownership did not contribute to wealth accumulation. Jeffrey
...With the ongoing trade tensions between the U.S. and China, Michael Klein, Executive Editor of EconoFact, and Marc Melitz (Harvard) discuss why the difference between the value of goods imported and exported between one country and another should not be a central
...Stock market volatility—big swings in the prices of stocks—had actually been relatively low in the period of recovery from the financial crisis through 2017. However, that trend has been changing of late, with several incidences of volatility marked by ‘short,
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U.S. political leaders from President Trump to Democratic presidential candidate Elizabeth Warren see the dollar’s current strength as a drag on the American economy. A strong dollar makes U.S. goods more expensive in foreign markets while at the same time making it more difficult for U.S. producers
...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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