Monthly Archives: February 2013

Who Benefits from the EITC?

Given the discussion on minimum wages and other low-income programs, I thought I’d highlight a study by Jesse Rothstein that roughly argues that the EITC encourages more people to work, which bids wages down for low income workers and enables … Continue reading

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At a wedding, back Monday

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Only Game In Town: Housing Finance & the US Government

The USG, which has provided a ton of fiscal support for housing finance, continues to be the only game in town. Source: Slide 10. Data as of end of Dec 2012.

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Tax Cuts for Whom? Do tax changes for high income taxpayers generate more growth than similarly sized tax changes for lower income taxpayers?

        This figure, which is from a recently revised and submitted paper of mine, shows how the multiplier varies across the income distribution. It shows that equivalently sized tax changes for lower income groups have larger macroeconomic impacts on … Continue reading

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Links for Today: Heckman on Head Start and Mian & Sufi SF Fed paper

1. Heckman on early childhood education 2. Mian and Sufi: Aggregate Demand and State-Level Employment   

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The Economic Windfall of Immigration Reform

Giovanni Peri in the WSJ on immigration. Here are some reform principles he suggests: The first is simplification. The current visa system is the accumulation of many disconnected provisions. Some rules, set in the past—such as the 7% limit on permanent … Continue reading

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A profile of Ezra Klein

Here is the profile in the New Republic. Klein first started blogging, and he has franchised himself to keep pace. His WONKBLOG, which started out as a solo venture and has since swollen to include a staff of five, has arguably … Continue reading

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A Painfully Slow Recovery for America’s Workers: Causes, Implications, and the Federal Reserve’s Response

A new speech from Janet Yellen is worth reading. Here are some figures from the speech on the slow response relative to other recessions and the contribution of fiscal support (or lack thereof) for this recession. Premature fiscal contraction is … Continue reading

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An Economic To Do List From Larry Summers

Do more than focus on the deficit Avoid sequester and spread cuts overtime Address international aspects of corporate tax reform (see related posts here and here) Fix housing finance and loosen GSE lending restrictions modestly Accelerate the transformation of the … Continue reading

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Today’s Links: Economic Mobility & School Financing in California

1. Surnames offer depressing clues to the extent of social mobility over generations “Mr Clark’s conclusion is that the underlying rate of social mobility is both low and surprisingly constant across countries and eras: the introduction of universal secondary education … Continue reading

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