Search

Begin New Search Topic Economics Publication Year within 25 Years

3561. The Remarkable American Consumer

Author:
John H. Makin
Publication Date:
06-2007
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
The American consumer is a very persistent spending machine. It is American consumption growth running at higher than 4 percent annualized— well above its long-term average—that has kept the economy comfortably out of recession for the past six months as the housing slowdown has subtracted more than a percentage point from growth. Even with a substantial additional drag on the U.S. economy from other areas—inventory liquidation, weakening net exports, and rapidly rising gasoline prices—the American consumer's spending surge has still been enough to keep GDP growth in positive territory.
Topic:
Economics, International Trade and Finance, and Markets
Political Geography:
United States and America

3562. Weaker Capital Spending Cuts Growth Forecast

Author:
John H. Makin
Publication Date:
05-2007
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
On Friday, April 13, the Wall Street Journal's lead story on the unlucky U.S. economy was “Economy Enemy No. 1: Soft Capital Spending.” The nation's leading business newspaper was acknowledging a six-month slowdown in capital spending that has, along with the drag from the housing sector, been lowering U.S. growth.
Topic:
Economics, International Trade and Finance, and Markets
Political Geography:
United States

3563. Recession in 2007?

Author:
John H. Makin
Publication Date:
03-2007
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
To the dismay and amazement of optimistic market players, not to mention Federal Reserve chairman Ben Bernanke, early in March former Fed chairman Alan Greenspan publicly assessed the probability of a recession this year to be one in three. This was a shock to those who had been carefully avoiding use of the “r word” while intensifying problems in the subprime mortgage market heralded the news that the housing correction, which had been declared “over” in January, was instead moving into a second, more intense, and unpleasant phase. Weaker investment (capital spending was actually a drag on fourth quarter growth) and an 8.7 percent drop in January durable goods orders further undercut hope for sustained general growth. The Fed's own economic outlook has looked to firmer capital spending as part of an economic recovery scenario.
Topic:
Development, Economics, Government, and Markets

3564. Risk and Return in Subprime Mortgages

Author:
John H. Makin
Publication Date:
02-2007
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
The slowdown in the housing sector that began early in 2006 subtracted over a percentage point from GDP growth during the second half of last year. Now, in 2007, analysts have declared that the worst of the housing slowdown is over. However, early in February, more serious problems emerged in the subprime mortgage market, the rapid growth of which supported the later stages of the housing boom in 2005 and 2006. Subprime mortgages are risky loans to weak borrowers who usually have to borrow the down payment on a home purchase, leaving them with mortgage obligations equal to 100 percent of the purchase price.
Topic:
Development, Economics, and Markets

3565. The Wealth of Modern Nations

Author:
John H. Makin
Publication Date:
01-2007
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Top economic policymakers from China and the United States met in Beijing in mid-December 2006 for the first round of what has been called the U.S.-China Strategic Economic Dialogue (SED). There is a lot more at stake than the level of China's currency when the world's premier economic sprinter—China—meets with the world's premier economic long-distance runner—America. The fundamental issue at hand is the creation and preservation of wealth of two nations, each of which has much to teach the other. The right outcome from the dialogue would provide a substantial boost to the global economy in coming years, while the wrong outcome would threaten the continuation of global prosperity.
Topic:
International Relations and Economics
Political Geography:
United States, China, Beijing, and Asia

3566. The Soviet Collapse: Grain and Oil

Author:
Yegor Gaidar
Publication Date:
04-2007
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
In the summer of 2002, after the Russian government introduced the flat income tax, completed fiscal reforms, created the Stabilization Fund, and introduced land reform in Russia, I had a premonition that the window of opportunity for further reforms would be closing for a number of years. I was correct in my prediction.
Topic:
Economics, Energy Policy, and International Trade and Finance
Political Geography:
Russia, Europe, Asia, and Soviet Union

3567. Foreign Aid

Author:
Kevin A. Hassett
Publication Date:
03-2007
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
The financial-aid system for college students is in a state of disarray. Federal aid and programs administered through the tax code are bureaucratic and include unfair provisions. Congress should stop using programs with a track record of little success and start using those that will give students the opportunities—and financial aid—they deserve.
Topic:
International Relations, Economics, Education, and Government

3568. The Truth about the Drug Ads

Author:
John E. Calfee
Publication Date:
03-2007
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Looming on the horizon is a political battle over direct-to-consumer advertising (DTCA) of prescription drugs.The Prescription Drug User Fee Act (PDUFA) is up for renewal, as it has been every five years since 1997. First passed in 1992, PDUFA authorizes the Food and Drug Administration (FDA) to collect fees from pharmaceutical companies submitting new drugs for approval, as well as a separate annual fee for each prescription drug on the market. (Before PDUFA, taxpayers alone funded FDA product reviews.) Because user fees cover most salaries of FDA drug regulators, the pharmaceutical industry, Congressional leaders, and the FDA itself all support renewal. But this time around, Congress is expected to tack on provisions dealing with drug safety and other matters, especially DTCA.
Topic:
Civil Society, Economics, Government, and Markets

3569. A Color-Coded Professoriate?

Author:
Frederick M. Hess
Publication Date:
01-2007
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Race-based hiring practices are commonplace in today's colleges and universities. Not even our country's highest court has been able to put a stop to them. What is needed to end them are determined efforts by alumni and trustees, strong voices within universities, and an engaged public.
Topic:
Demographics, Development, Economics, and Education

3570. The Role of Finance in Combating National Security Threats

Author:
Robert Kimmitt
Publication Date:
05-2007
Content Type:
Policy Brief
Institution:
The Washington Institute for Near East Policy
Abstract:
What are the relative constraints of a multilateral approach versus a bilateral approach to the use of financial tools against illicit activity? Anytime we see a threat to the country through the financial system, we are going to take action immediately using the domestic authorities we have. We try to be careful, however, to make sure that those are carefully targeted to conduct and are not extra territorial. That provides a good basis for entering into discussion with friends and allies throughout the world, both on a bilateral basis with others and then on a multilateral basis.
Topic:
Development and Economics
Political Geography:
Middle East