This paper considers the case for and against 'the treasury view' - the idea that in a downturn, government spending has no effect on economic activity or unemployment. The report covers three areas: the evidence for expansionary fiscal contraction – the idea that somehow cutting budget...

This paper examines recent economic data, including the most recent data released the third week of August 2010, in an attempt to evaluate the Venezuelan economy's prospects in the foreseeable future. It finds that the Venezuelan economy, which went into recession in the first quarter of 2009...

This paper looks at Venezuela’s export revenue, imports, and trade and current account balances under a range of oil price outcomes for the next two years. It finds that Venezuela would run large current account surpluses for prices between $60-90 per barrel, and would even run a small surplus...

This report presents several proposals designed to address the nation’s current economic slowdown. To blunt the effects of this downturn and provide immediate relief, the authors suggest a second stimulus package. Proposals for the package include an expanded tax credit for homes and...

Recently governments, economists, and international financial institutions have been debating the merits of further fiscal stimulus to combat the Great Recession versus fiscal austerity or “adjustment” – that is, higher taxes and/or lower government spending – to combat budget deficits....

With the economy suffering from near double-digit unemployment, public debate is dominated by concerns over the budget deficit and national debt. This discussion is unfortunate both because there is no reason for people to be concerned about the deficit at present, and more importantly, because...

This paper looks at the planned austerity measures in Spain, the rationale for the spending cuts and tax increases, likely outcomes for future debt-to-GDP ratios, and the probable results of alternative policies.

The Great Recession has left tens of millions of families facing unemployment, underemployment and the threat of losing their home. However,concerns over the deficit threaten to derail efforts to turn around the economy and spur employment. This report attempts to correct many of the...