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Tuesday January 6, 2009

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SPOTLIGHT: Infrastructure


Reuters/Richard Carson-Traffic flows at dusk with the downtown Houston skyline.

Save to My Portfolio "Stimulus" Doesn't Have to Mean Pork

Clifford Winston, December 28, 2008

In order for Barack Obama to truly stimulate the nation’s economy through infrastructure spending, Clifford Winston argues the president-elect needs to wring wasteful spending not just out of pork projects, but out of all of his transportation expenditures. Unlike the bailout of the financial system, sound economic guidelines do exist to enable investments to generate large social returns: eliminate onerous regulations that inflate the cost of labor and capital, eliminate the politically devised formula that allocates funds to states and charge travelers for the costs they incur from using the transportation system. Read More

Infrastructure, Transportation, Fiscal Policy, U.S. Economic Growth, U.S. Economy

SPOTLIGHT: Global Governance


U.S. President George W. Bush poses among other world leaders during a group photo at the G20 Summit on Financial Markets and the World Economy at the National Building Museum in Washington, DC.

Save to My Portfolio Global Governance Breakthrough: The G20 Summit and the Future Agenda

Colin I. Bradford, Johannes F. Linn and Paul Martin, December 2008

Paul Martin, former Prime Minister of Canada, and Senior Fellows Colin Bradford and Johannes Linn assess the successful G20 Summit, its impact on global governance and provide recommendations for President-elect Obama. They argue that the next administration can build an inclusive and cooperative summit group to resolve the current financial and economic crisis as well as address other major complex global challenges and opportunities. Read More

Global Governance, G8, World Trade Organization, International Monetary Fund, World Bank

SPOTLIGHT: Taxes


Reuters/Joshua Lott - Shoppers carry their purchases along Broadway in New York City.

Save to My Portfolio A Payroll Tax Holiday?

Gary Burtless, December 17, 2008

If policy-makers prefer speedy and administratively simple tax relief, a payroll tax cut has much to recommend it. However, argues Gary Burtless, if they want to target tax relief on taxpayers who are most likely to spend it in the short run, then a temporary cut in income taxes is the way to go. Read More

Taxes, Tax Cuts, U.S. Economy

PRESIDENTIAL TRANSITION


Reuters/Shannon Stapleton - Traders work on the floor of the New York Stock Exchange.

Save to My Portfolio Memo to the President: Rebuild Financial Institutions and Confidence

Martin Neil Baily, December 11, 2008

The economy is the number one concern in the minds of main street Americans. The $700 billion bailout package was aimed at rebuilding financial institutions, but it is now up to the new president to restore confidence in consumers and workers. Read More

Financial Institutions, Financial Markets, Banking, U.S. Economy, U.S. Department of the Treasury

ECONOMIC STUDIES

Save to My PortfolioThe Credit Crisis and the Auto Industry

Gary Burtless, December 30, 2008

The Credit Crisis and the Auto IndustrySenior Fellow Gary Burtless says the credit crisis has resulted in a serious domino affect for the auto industry where the consumer can’t borrow to buy cars and auto makers can’t borrow to stay afloat – this can have a profound impact on unemployment rates, he notes.

U.S. Economy, Financial Markets, Auto Industry, Financial Services, Fiscal Policy, Mortgage Market

GOVERNANCE STUDIES

Save to My PortfolioRethinking “Energy Independence”

Pietro S. Nivola, December 29, 2008, The Brookings Institution

Rethinking “Energy Independence”Political leaders repeatedly point out that our current addiction to foreign oil is a matter of national security. In a Brookings paper, Pietro Nivola challenges the assumption that the less oil the U.S. buys from abroad, the more insulated our economy will be from vagaries of the international oil market. Read More

Energy Security, Climate and Energy Economics, U.S. Economic Growth, U.S. Economy

METROPOLITAN POLICY PROGRAM

Save to My PortfolioHow to Reverse the Trend of Concentrated Poverty

Alan Berube, December 28, 2008, Cleveland Plain Dealer

Alan Berube urges policy-makers to evaluate short-term opportunities and set long-term strategies in order to help Cleveland’s next generation of residents overcome the challenges of concentrated poverty. Read More

Concentrated Poverty, Unemployment, Children & Families, Earned Income Tax Credit, Economic Mobility, Welfare, U.S. Poverty, U.S. Department of Health and Human Services, U.S. Department of Housing and Urban Development, U.S. Department of Labor

ECONOMIC STUDIES

Save to My PortfolioOn Bailouts, Congress should Tread Lightly

Bill Frenzel, December 22, 2008

On Bailouts, Congress should Tread LightlyBrookings Guest Scholar Bill Frenzel, a former Member of Congress, says federal legislators should tread carefully when considering bailing out failing businesses.

U.S. Economy, Financial Markets, Business

GLOBAL ECONOMY AND DEVELOPMENT

Save to My PortfolioWhy Are Saving Rates of Urban Households in China Rising?

Eswar Prasad and Marcos Chamon, December 2008, The Brookings Institution

Why Are Saving Rates of Urban Households in China Rising?In China, the household savings rate rose by 7 percent from 1995 to 2005, reflecting savings of about one quarter of disposable income. Why are Chinese households saving so much across all demographic groups? In a new paper, Eswar Prasad and Marcos Chamon analyze the savings patterns of households in China and discuss the economic drivers. Read More

China's Economy, China, Financial Markets, Economic Development, Global Economics, Saving, BRICs, Emerging Markets

ECONOMIC STUDIES

Save to My PortfolioThe Economy Needs a Shot In the Arm

Jeffrey R. Kling and William J. Congdon, December 21, 2008, The Washington Times

Jeffrey R. Kling and William J. Congdon agree with the Obama stimulus proposal that increasing expenditures and decreasing taxes can stimulate the economy, but that spending on “shovel ready” infrastructure and human capital to diversify the targets of stimulus dollars will expedite the process while keeping waste to a minimum. Read More

Fiscal Policy, Infrastructure, Tax Cuts, U.S. Economic Growth, U.S. Economy

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Q&A with Gary Burtless

The Credit Crisis and the Auto Industry

Gary Burtless says the credit crisis has caused a serious domino effect: consumers can’t borrow to buy goods, companies can’t borrow to stay afloat, and jobs will be lost in the process.

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Spotlight

TopicEducation

The economic and political well-being of any democracy requires a well-educated citizenry. Brookings’s work has extended beyond the K-12 bookends to include pre-school interventions and issues in higher education. Experts are tackling fundamental issues on the role of education in the national and global economy.

ExpertDarrell M. West

Darrell M. West is the vice president and director of Governance Studies at Brookings. His studies include campaigns and elections, political advertising, mass media, public opinion, technology policy and electronic government.

Research ProjectLatin America Initiative

The Latin America Initiative provides high-quality, in-depth, and independent research across a range of economic and political issues, and offers policy recommendations aimed at U.S. and Latin American policymakers.

ExpertSarah A. Binder

Sarah Binder is an expert on Congress and legislative politics.  She is completing a project on the politics of advice and consent, and is at work on the politics of how Congress responds to financial crises.

Research ProjectThe Hamilton Project

The Hamilton Project produces research and policy proposals on how to create a growing economy that benefits more Americans. Their agenda also focuses on enhancing individual economic security and effective public investments. 

ExpertRebecca Blank

Rebecca Blank is an expert on the interaction between the macroeconomy, government anti-poverty programs, and the behavior and well being of low-income families. She has just been named the Robert S. Kerr senior fellow at Brookings.

ExpertEswar Prasad

Eswar Prasad, the Tolani Senior Professor of Trade Policy at Cornell University, is a senior fellow in Global Economy and Development. He was previously head of the Financial Studies Division and the China Division at the IMF.

Policy CenterEngelberg Center for Health Care Reform

The Engelberg Center for Health Care Reform provides practical solutions to achieve high-quality, innovative, affordable health care with particular emphasis on identifying opportunities on the national, state and local levels.

ProgramGovernance Studies

Governance Studies explores political institutions of the United States and other democracies to assess how they govern, how their practices compare and how citizens and public servants can advance sound governance.

ExpertMauricio Cárdenas

Mauricio Cárdenas is a senior fellow and director of the Latin American Initiative. Formerly minister of Economic Development and Transportation, and director of National Planning of Colombia, his research focuses on international and development economics. He is also the president of the Latin American and Caribbean Economic Association (LACEA).

ExpertMartin S. Indyk

Ambassador to Israel and assistant secretary of state for near east affairs during the Clinton Administration, Martin Indyk directs the Saban Center for Middle East Policy. He currently focuses on the Clinton administration’s diplomacy and the Arab-Israeli conflict.

TOPICThe Presidential Transition

During the 77 days from the election to the Inauguration, Brookings experts will offer 12 "Memos to the President" on top policy priorities across the spectrum of domestic and global challenges, plus additional advice on transitioning from campaigning to governing.

ExpertJulia B. Isaacs

Julia Isaacs focuses on public investments in children and how children are affected by national budgetary policies. A former federal budget analyst, she also researches the economic mobility of children and families across the income spectrum.

ExpertHugh B. Price

Former president and chief executive officer of the National Urban League, Hugh Price is an expert on education, civil rights, equal opportunity and criminal justice. His 40-year career spans journalism, philanthropy, the law, and social advocacy.

ExpertSuzanne Maloney

Suzanne Maloney studies Iran, the political economy of the Persian Gulf and Middle East energy policy. A former U.S. State Department policy advisor, she has also counseled private companies on Middle East issues.

ExpertAlice M. Rivlin

Alice Rivlin, the first director of the Congressional Budget Office, is an expert on urban issues as well as fiscal, monetary and social policy. She directs the Greater Washington Research project. 

ExpertMark B. McClellan

A medical doctor and economist, Mark McClellan works on promoting high-quality, innovative and affordable health care. Once commissioner of the Food and Drug Administration and administrator of the Centers for Medicare and Medicaid Services, Dr. McClellan now directs the Engelberg Center for Health Care Reform.