Lessons from COVID-19 Aid to State and Local Governments for the Design of Federal Automatic Stabilizers
In this paper Clemens and Veuger analyze pandemic-era federal fiscal assistance to state and local governments and draw lessons for the design of stabilization policy. They start by explaining why the federal government plays a key role in stabilizing state and local government budgets across the business cycle, before describing the shape this role currently ...
IN BRIEF: The Wide Class Divide in Family Structure
BRIEFLY: Children in the US are far less likely to be raised in two-parent families today than they were in prior decades, a shift Aspen Economic Strategy Group (AESG) director Melissa Kearney explores in her new book, The Two-Parent Privilege. US children are now more likely than those in any other country to live in ...
The Economic Case for Smart Investing in America’s Youth
The United States spends a relatively small sum on children, both on a per capita basis and as a share of all spending. In 2019, the federal government spent an estimated $5,595 per child on programs benefiting children under 18, compared to $29,189 per elderly American on entitlement programs alone—a gap that remains wide even ...
Melissa S. Kearney
MELISSA S. KEARNEY is the Neil Moskowitz Professor of Economics at the University of Maryland. She is also director of the Aspen Economic Strategy Group; a research associate at the National Bureau of Economic Research; and a nonresident senior fellow at the Brookings Institution. She serves on the Board of Directors of MDRC and on ...
Robert E. Rubin
ROBERT E. RUBIN served as the 70th United States Treasury Secretary from 1995 to 1999, after serving as the first director of the White House National Economic Council. In these roles, he helped achieve the first federal budget surplus in a generation, address international financial crises, and resolve a debt-ceiling standoff, among much else. Rubin is the ...
Brian Moynihan
BRIAN MOYNIHAN leads a team of approximately 215,000 employees dedicated to making financial lives better for people, companies of every size, and institutional investors across the United States and around the world. Bank of America was named World’s Best Bank by Euromoney magazine in 2022, as well as America’s Most JUST Company by JUST Capital. The ...
Bill Haslam
BILL HASLAM is the former governor of the State of Tennessee. He was first elected in 2010 and was re-elected in 2014 with the largest victory in modern Tennessee history. Under his leadership, Tennessee became recognized as a national leader in education, economic development, efficient and effective government, and fiscal strength. During his two terms ...
Edward L. Glaeser
EDWARD GLAESER is the Fred and Eleanor Glimp Professor of Economics and the Chairman of the Department of Economics at Harvard University, where he has taught microeconomic theory, and occasionally urban and public economics, since 1992. He has served as Director of the Taubman Center for State and Local Government, and Director of the Rappaport ...