Fiscal Policy With High Debt and Low Interest Rates
Gale argues that although historically low interest rates reduce the cost of government borrowing, they are not a "get out of jail free card." Rising debt will slowly but surely make it harder to grow the economy, boost living standards, respond to wars or recessions, address social needs, and maintain the nation’s role as a global leader.
Securing Our Economic Future
The Economic Strategy Group's third annual policy volume focuses on the economics of the middle class, geographic disparities in economic opportunity, and U.S. policy options to address climate change.
Taskforce Report: Promoting Economic Recovery After COVID-19
This report puts forward a set of policies that should be part of the next wave of fiscal policy aimed at bolstering individuals and workers, small and mid-sized businesses, and state and local governments during a sustained recovery from the Covid-19 pandemic.
Securing Our Economic Future: Foreword
AESG co-chairs Hank Paulson and Erskine Bowles introduce the group's 2020 policy volume. The American economy is in the midst of a wrenching crisis, one caused by the COVID-19 pandemic, intensified by the worst social unrest in a generation, and aggravated further by a series of climate-driven natural disasters.
Rebuilding the Post-Pandemic Economy
After suffering the worst economic shock since the Great Depression last year, the American economy is recovering in fits and starts. While many businesses are reopening their doors and thriving, continued uncertainty about the course of the virus, the inflation outlook, labor shortages, and many other factors are hampering a full return to normal activity. The COVID-19 pandemic also reinforced and exacerbated many of the biggest structural economic challenges in our society. It precipitated the largest economic relief and stimulus spending in US history and transformed the way that millions of Americans live and work, with automation, e-commerce, and telework all playing a bigger role.
The pandemic and its aftershocks reignited not only the perennial debates about the appropriate role and size of government, but also present new and urgent questions about how the post-pandemic economy will take shape. The policy volume Rebuilding the Post Pandemic Economy examine important questions about how the post-pandemic economy will take shape. What are some initial lessons we can take away from the novel government programs that were deployed to provide economic relief and stimulus? How can we implement new infrastructure investments to maximize efficiency and equity, and best respond to the climate crisis? After a year of widespread school closures, what have we learned about the role of K-12 education in perpetuating or reducing social and economic inequities? And how should American trade policies evolve to promote economic recovery and strengthen America’s role in the global economy?
Data-Driven Opportunities to Scale Reemployment Opportunities and Social Insurance for Unemployed Workers During the Recovery
Job loss during recessions can have long-lasting, negative consequences for workers and their families. In particular, long-term unemployment—and the associated exhaustion of unemployment insurance (UI) benefits—is associated with sustained income loss and increases in poverty. Workers who are less-educated, racial and ethnic minorities, younger, and female are especially at risk of economic hardship and adverse ...
Business Continuity Insurance in the Next Disaster
The COVID-19 pandemic triggered an economic shock unparalleled in severity and breadth across the US economy since at least the Great Depression. The spring of 2020 saw unprecedented business closures and revenue declines. The government response was swift and unprecedented in scale. The federal government deployed two novel programs to support small businesses: Paycheck Protection ...
Foreword: Rebuilding the Post-Pandemic Economy
After suffering the worst economic shock since the Great Depression last year, the American economy is recovering in fits and starts. While many businesses are reopening their doors and thriving, others are struggling with tenuous demand, supply constraints, and higher labor costs. Americans are traveling, dining out, and resuming other activities that weren’t possible before ...
Introduction: Rebuilding the Post-Pandemic Economy
The COVID-19 pandemic plunged the US economy into recession, challenged the survival of millions of businesses, and threatened the economic security of American households. The recession officially lasted only two months, ending in April 2020, but looming economic challenges remain and the path of the post-pandemic recovery is uncertain. The US labor market recovery is ...