Assets Not Taxes: Flexible Financing Lessons from the New Deal to CARES
Creative approaches to financing investment in public assets and the private sector abound throughout American history. The New Deal, the CARES Act and other legislation have made use of government corporations, equity purchases and loan guarantees to generate durable and appreciating public assets.
Beyond The Phillips Curve: A Dynamic Approach To Communicating Assessments of “Maximum Employment”
Given the Fed’s recent framework revisions and forward guidance commitment to maintain current interest rates until “maximum employment” is achieved, the Fed’s communication with respect to its assessment of “maximum employment” is overdue for a clarification.
Preventing The Next Shortage: A Framework For Industrial Policy
Throughout our series on semiconductors, we have used the semiconductor industry to explore big questions in economic theory and industrial policy. Today, we offer a positive account.
A Brief History of Semiconductors: How The US Cut Costs and Lost the Leading Edge
This post is the second in a series that uses the history and economics of the American semiconductor industry to ask big picture questions about the future of fiscal policy and industrial policy.
Supplying Demand: The Chip Shortage in Macro Context
This post is the first in a series that uses the history and economics of the American semiconductor industry to ask big picture questions about the future of fiscal policy and industrial policy.
