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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…

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…

As unemployment insurance (UI) benefits and other economic stimulus measures are rolled back, less-educated, minority, younger, and female workers remain at risk of economic hardship and long-term consequences from…

This article draws lessons from the business support policies pursued in the COVID-19 pandemic to guide policy design for the next disaster. We contrast the performance of the Paycheck…

American public schools do not successfully prepare all students for careers or college. Significant disparities in educational outcomes by race, ethnicity, economic disadvantage, and disability are persistent. At the…

The Biden administration inherits a U.S. trade policy in transition. This chapter provides a factual and contextual assessment of that transition as well as a normative set of U.S….

About one-fifth of paid workdays will be supplied from home in the post-pandemic economy, and more than one-fourth on an earnings-weighted basis. In view of this projection, we consider…

The United States faces the challenge of dramatically reducing carbon emissions while simultaneously ensuring the reliable supply of on-demand energy services that its residents…

Science and innovation are central to human progress and national economic success. Currently, the United States invests 2.8% of GDP in research and development,…

To determine the appropriate level of infrastructure spending, there is no alternative to aggregating the results of project-by-project cost-benefit analysis. With widespread variation in…

David Keith (Harvard) and John Deutch (MIT) discuss mechanisms to manage climate risks, which they call the climate control mechanisms: emissions reduction, carbon dioxide removal (CDR), adaptation, and solar...

Trevor Houser of the Rhodium Group summarizes current forecasts of climate damages in the years ahead and their implications for the global economy, inequality, and health.

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...

The United States is currently gripped by deep uncertainty and economic anxiety. At the time of this writing, the United States is six months into the COVID-19 pandemic. More...

Professor Bruce Sacerdote of Dartmouth College asserts that claims about a vanishing middle class are not well-founded. The real challenges, he argues, are the rapidly changing nature of work...

In this chapter, author Dan Silverman of Arizona State University describes a body of evidence showing that large fluctuations in household income are commonplace both across and within years....

Adam Looney (University of Utah), Jeff Larrimore (Federal Reserve Board), and David Splinter (Joint Committee on Taxation) provide an in-depth analysis of after tax and transfer incomes of middle-class...

Author Gilbert E. Metcalf of Tufts University argues that a carbon tax should be the centerpiece of any portfolio of policies that aim to achieve zero net emissions. However,...

Ingrid Gould Ellen (NYU Furman Center), Amy Ganz (Economic Strategy Group), and Katherine O’Regan (NYU Furman Center) document the costly externalities that such housing instability poses and propose the...

Timothy Bartik of the W.E. UpJohn Institute argues that large and persistent differences in employment rates across U.S. places highlight the need for local economic development policies to better...

Since 1980, college-educated workers have been steadily moving into affluent cities while non-college workers have been moving out.  At the core of understanding why non-college workers (defined by author...

Batchelder and Kamin argue the United States must raise new revenue in order to reduce high levels of economic disparity, finance much-needed new services and investments, and address the...

Viard argues that a wealth tax in the U.S. would pose administrative and constitutional challenges. As an economic matter, such a tax would decrease savings and investment, thereby lowering...

Kearney and Mogstad argue that, in practice, a UBI would be an extremely expensive, inefficiently targeted, and potentially harmful policy that would solve none of the economic challenges it...

Garthwaite argues that the current public debate about Medicare For All fails to take into account the likely consequences that such a large change to the health-care system would...

Van Reenen argues the U.S. should pursue a robust innovation policy composed of tax credits, direct subsidies, and human capital investments, which have been shown to spur innovation and...

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...

Rose argues that highly aggregated measures of concentration across industries, which are used in many of the most provocative studies, cannot be used to draw conclusions about concentration dynamics...

Philippon asserts that growth in aggregate measures of market concentration since the early 2000s is largely attributable to the weakening of competition. Lower levels of competition, Philippon argues, are...

A national debate about the strength and fairness of American capitalism is taking place against a backdrop of vast levels of income and wealth inequality, growing pessimism about the...

The American economic system has always been the foundation of our national strength. But this foundation is showing cracks—from high levels of income inequality, declining economic mobility, and persistent...

Incarceration rates in the United States have more than tripled in recent decades as rehabilitation has gradually taken a back seat to a policy agenda emphasizing punishment and incapacitation....

Career and technical education (CTE) is widely viewed as an important alternative to traditional four-year colleges, a means of increasing the earnings of U.S.workers, and an effective response to...

This chapter aims to provide policy makers with a useful framework for thinking about the question: “Why are so many people deciding that seeking work isn’t worth it?” After...

This chapter lays out some of the central questions policymakers should ask when considering plans to leverage online education for economically vulnerable mid-career Americans, as well as the state...

In this chapter, author David Neumark proposes a Higher Wages Tax Credit (HWTC) to partially offset the costs imposed by minimum wage increases on firms that employ low-skilled labor....

This proposal recognizes the simultaneous need for more college educated workers and also for a higher level of labor market skill among non-college educated individuals. The authors propose to...

In this chapter, author Michael R. Strain first discusses the wage-setting process and the conceptual issues that are of critical importance to any empirical investigation of the link between...

The pursuit of economic opportunity for all Americans is as important to the health of the country’s economy as it is to the strength of its democracy. The promise...

The U.S. economy in recent years has been characterized by slow average productivity growth and increasing productivity dispersion within industries. In this essay, author Chad Syverson discusses research into...

In order to stimulate employment in rural areas, author James P. Ziliak proposes a two-fold strategy of bringing “people to jobs” and “jobs to people,” an approach that combines...

In this chapter, author Robert Lerman argues that a large-scale apprenticeship program could address these challenges, while also yielding substantial additional gains for employers and the U.S. economy. He...

In this chapter, authors Jason Furman and Phillip Swagel propose two alternative policy options for promoting increased earnings and employment of low-income households: expanding the Earned Income Tax Credit...

State-level Minimum Zoning Mandates (MZMs) allowing landowners to build at a state-guaranteed minimum density, even in municipalities resistant to development, would be an effective means of encouraging denser housing...