Many lawmakers, policymakers, and economic commentators do not appear to recognize the depth of the current labor-market recession. Between December 2007 – the official first month of the recession – and December 2009, the U.S. economy lost more than eight million jobs. Even if the economy...

Some economic observers argue “structural unemployment” has increased in the wake of the Great Recession, but in this paper we find little support for either of two arguments that suggest that structural unemployment has been on the rise. The first argument focuses on the large increase in...

There are many economists who argue that temporary tax cuts, like those in the 2009 stimulus and the ones proposed by President Obama last week, have no impact on the economy. They argue that people will save a temporary tax credit rather than spend it. Stanford Economics Professor John Taylor,...

This paper shows that, in spite of a reasonably sized fiscal stimulus package, Costa Rica’s economy continues on a downward path, partly because fiscal policy is being offset by a tightening of monetary policy. The paper notes that the International Monetary Fund has insisted that Costa...

The $787 billion recovery package marks a big, bold, and historic investment in creating green jobs and building more equitable communities. The package invests nearly $100 billion in funding for transportation and infrastructure, $48 billion in investments in job training and education, $41...

This report provides a detailed look at the tax provisions in the ARRA, noting which current laws are affected and the costs of each.

This report summarizes the individual, corporate and renewable energy tax and benefit provisions of the American Recovery and Reinvestment Act. The summary lists current provisions, how these would change under the ARRA in both the House and Senate versions, and the costs of these provisions...

Last month the government announced plans to sell the stock it obtained in November of 2008 as part of its bailout package of Citigroup. The media jumped on the fact that, at the stock’s current market value, the government stands to earn an $8 billion profit on this stock. This profit was...

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....