This paper is focused on the options for reducing the U.S. fiscal deficit in the aftermath of the financial crisis. The first part of the paper is devoted to an assessment of the economic outlook and the impact of the financial crisis on the medium-term fiscal balance of the federal government....

The USAGE model for the United States is used to quantify economic costs due to stock mispricing, made operational by shocking Tobin’s q. The simulations quantify a potentially large impact even in the most favorable environment, where export demand holds up, and, the dollar is pro-cyclical. A...

We measure the impact of labor market referral networks defined by residential neighborhoods on re-employment following mass layoffs. Because networks can only be effective when hiring is occurring, we focus on a measure of the strength of the labor market network that includes not only the...

Der Report beschäftigt sich mit dem Niveau und der Entwicklung der Armut in den 15 größten Städten zwischen 2005 und 2011. Es zeigt sich, dass die Armutsgefährdung in den deutschen Metropolen höher ist und schneller steigt als im Bundesgebiet insgesamt. Der Anteil der Hilfebedürftigen...