This paper presents original primary-source research on state-level tax and expenditure limitations and supermajority requirements to raise taxes.

We analyze the ability of the "Single Point of Entry" strategy (SPOE) to resolve large banks without financial market disruption. We identify several legal and financial impediments that could prevent SPOE's use. In particular, Title II of the Dodd-Frank Act was conceived by Congress as an...

We assess the Covid-19 pandemic's implications for state government sales and income tax revenues. We estimate that the economic declines implied by recent forecasts from the Congressional Budget Office will lead to a shortfall of roughly $106 billion in states' sales and income tax revenues for...

A key issue for the ongoing COVID-19 pandemic is whether non-pharmaceutical public-health interventions (NPIs) retard death rates. File-URL https://www.aei.org/research-products/working-paper/non-pharmaceutical-interventions-and-mortality-in-us-cities-during-the-great-influenza-pandemic-1918-1919/

We use a large dataset of land sales dating back to the mid-1990s to construct land price indexes for 23 MSAs in the United States and for the aggregate of those MSAs. The price indexes show a dramatic increase in both commercial and residential land prices over several years prior to their peak...

The authors develop a quantitative indicator of the Chinese government's policy priorities over a long period of time, which they call the Policy Change Index (PCI) of China.

Analysis of data on bank-specific average PPP loan size produces results that are inconsistent with a loan demand explanation. Absent good measures of PPP loan demand, the source of the observed differences in bank PPP loan activity cannot be definitively identified using bank regulatory data alone.

Since the 2009 Supervisory Capital Assessment Program (SCAP), US regulators have employed a representative bank model as the benchmark of comparison in mandatory stress test exercises. For risk management functions, a bank's own stress model must be calibrated to reflect the bank's historical...

Over the past decade, a major effort to "end homelessness" has lead to a marked expansion in permanent housing for the homeless relative to shelters. In this paper, I use community-level data over the period 2007-2014 in the United States to estimate short and long run associations between...

Without any intervention, the novel coronavirus would cost the U.S. economy over $9 trillion.