An argument that curtailing deductions for personal interest expense would be a more effective strategy for increasing national saving.

A perspective on the Federal Reserve's policy moves in 1994 to maintain the desired rate of monetary growth in the face of other rising market interest rates and a suggestion that the Fed adopt formal multiyear commitments to specific inflation objectives to enhance its credibility and allow it...

An argument that the debate between Congress and the President over how to balance the budget is not simply irresponsible political posturing, but the result of serious and reasoned differences of opinion on the economic consequences of specific spending and tax decisions.

An investigation of the allocative consequences of resource shifts that would result if the Clinton administration's budget plan is adopted, examining the timing and composition of both net outlay cuts and net revenue increases represented in the budget proposal, as well as the generational...

An examination of the budgetary and economic effects of federal credit and insurance programs, highlighting the problems inherent in making federal budget deficits the centerpiece of fiscal decisionmaking.

A contention that the federal government's deficit reduction efforts would be greatly aided by extending the Budget Enforcement Act of 1990 through 1996, maintaining distinctions among different categories of discretionary spending, and introducing caps on mandatory expenditures.

An argument that the sluggishness of the current economic recovery reflects a permanent, structural change in the economy that may not be easily addressed using the standard monetary/fiscal incentives called for in the conventional view of business cycles, and that structural adjustment is a...

A review of the connection between labor resource utilization and the growth/unemployment correlation summarized by Okun's law, showing that the instability of that relationship, particularly over short time horizons, has important implications for monetary policy.

A look at how some basic tax reform proposals stack up against four, sometimes competing, requirements laid out by President Clinton in a December 1997 speech: Is the proposal fiscally responsible? Will it be good for the economy? Will it lead to a simpler tax system? And finally, is it fair to...

The relationship between the unemployment rate and the nonaccelerating inflation rate of unemployment (NAIRU) is presumed to be an inflationary bellwether, but recent inflation predictions based on it have not been successful. The authors explore the reasons for this failure and suggest that it...