Economics
Latest
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Could a COVID Relief Deal Close the Output Gap?
Policymakers from both parties have endorsed plans to provide over $900 billion of COVID relief as part of a year-end funding deal. Democratic...
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Policymakers Should Avoid Austerity in Addressing the Debt
The economy remains weak and may be headed for a double-dip recession this winter. Though COVID relief enacted to date has been largely successful in...
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GDP Did Not Just Increase 33%
Today's advanced third quarter GDP estimates from the Bureau of Economic Analysis are being reported as showing 33 percent economic growth. This...
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CBO Shows "Interest" in Greater Transparency
The Congressional Budget Office (CBO) took another step last week towards greater transparency when it published an interactive workbook that allows...
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IMF Report Underscores Need for Long-Term Deficit Reduction in U.S.
The International Monetary Fund (IMF) made news earlier this week when it issued a report saying that most advanced economies will not need future...
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Comparing Fiscal Multipliers
The United States is currently facing one of its worst economic and public health crises as a result of COVID-19. Though substantial COVID relief has...
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Janet Yellen and Jared Bernstein: The Senate Is on Vacation While Americans Starve
Janet Yellen is a Distinguished Fellow in Residence with the Economic Studies Program at the Brookings Institution, a former Chair of the Federal...
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Did GDP Fall by One-Third?
In their reporting on the Bureau of Economic Analysis's (BEA) second quarter Gross Domestic Product (GDP) report, several news outlets have used the...
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Income Has Risen Through the COVID Recession But That May Soon Change
Despite the sharpest economic contraction is modern history, personal income has actually grown since the COVID-19 crisis started through May. While...
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How Big Should the Next COVID Package Be?
With over $2 trillion of fiscal support now out the door, Congress is considering additional legislation to help stabilize the economy, support the...
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CBO Releases New Economic Projections
Today, the Congressional Budget Office (CBO) released updated economic projections, incorporating the economic damage from the COVID-19 pandemic...
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How Does COVID Relief Compare to Great Recession Stimulus?
We have published an abbreviated update of this analysis, incorporating additional legislation. We now find the COVID-19 response to be larger than...