Tag Archives: Growth

The Pace of the Recovery: Output and Employment Growth Since 1985

Laura Tyson has a piece today on the slow pace of the recovery: Since 2010, annual growth of gross domestic product has averaged about 2.1 percent. This is less than half the average pace of recoveries from previous recessions in … Continue reading

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Large-Scale Asset Purchases by Jeremy Stein

Here’s Greg Ip on Jeremy Stein’s recent LSAP speeches (Oct 11, Nov 30): If Mr Stein’s story is right, we should expect to see corporations exploiting the drop in long-term rates to refinance short-term debt and repurchase stock but not boost … Continue reading

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Tax Cuts for Whom? Heterogeneous Effects of Income Tax Changes on Growth & Employment

Here are slides from my 10/1/2012 presentation at Berkeley. Abstract: This paper investigates how tax changes for different income groups affect macroeconomic activity. Using historical tax return data from NBER’s TAXSIM, I construct a measure of who received (or who paid … Continue reading

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Which tax cuts stimulate the economy?

David Cay Johnston of Reuters covered my research today: Tax cuts are the key to job creation, or so Mitt Romney, running mate Paul Ryan and the 2012 Republican platform all say. But what does the empirical evidence show? Is the … Continue reading

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Job Growth: Obama Recovery much better than Bush in Private Sector

To understand the competing claims about job growth under Obama and Bush, you really need to look at these two graphs (from Paul Krugman) that separate private and public employment. Key Points Private sector job growth is much more impressive … Continue reading

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Why Edward Conard of Bain Capital is wrong about Inequality and Capital Income Taxation

Edward Conard, a former Managing Director at Bain Capital, has been creating quite a stir with his new book, Unintended Consequences. I haven’t had a chance to read it yet, but I’ve read this article in the NYTimes about it … Continue reading

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