Apropos my previous post, a new NBER paper by Casado et al estimates the effect of pandemic unemployment benefits on local spending: The FPUC supplement to unemployment insurance of $600…

…value of the dollar and financial stability. This will be manageable if monetary and fiscal policy can be rapidly adjusted to address the problem. But given the commitments the Fed…

…beliefs to market” – J B DeLong. I think it is also a mildly worthwhile exercise, because it is relevant to the current debate about fiscal policy. A key argument…

…fiscal year over much of the last century. The dips show bigger deficits, while the highest points show the much more rare surpluses. The biggest the deficit ever got compared…

…this year and next. The budget gap includes $2.9 billion for disability and education benefits this fiscal year and $12 billion for medical care next fiscal year. If Congress does…

…Fiscal policy in the USA and in the Eurozone has been dramatically different – The US Federal Government implemented Six very large fiscal stimuli: The CARES act signed into law…

…states (including California) serve large beneficiary populations. These states already devote substantial resources to program administration. face with limitations on their ability to leverage provider taxes. This leaves even high-fiscal-capacity…

…the fiscal cliff–instead “negotiating” and settling for a half-assed deal that hardly got rid of any of the stupidities of the Bush tax cuts–convinced the Republicans that they can play…

David Warsh, a journalistist covering economics issues, takes a look at Warren Buffet’s op ed at Economic Principals. The fiscal cliff negotiation is no better than a skirmish in what…

…(if I recall correctly) about $580 billion–during a decade of dramatic tax reductions. Another is that the budget deals of the last two years, including the “fiscal cliff” one, coupled…