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81. Inheriting Recessions

Author:
Tim Kane
Publication Date:
07-2012
Content Type:
Working Paper
Institution:
Hudson Institute
Abstract:
Three of the last six U.S. presidents have inherited a recessionary economy: Ronald Reagan, George W. Bush, and Barack Obama. Let's define "inheriting a recession" as meaning that on the date a president is sworn into office, the economy is technically still in recession or enters one within a few months. Most economists would agree that presidents have little short-term control over the economy, but that their fiscal policies can be implemented quickly and affect macroeconomic performance after the first year. Reagan, inaugurated in January 1981, actually endured a double-dip recession-one that had been raging since early 1980 and a second that hit in July 1981-but the economy experienced a strong and sustained recovery that began in November 1982 during his second year in the White House. Bush was inaugurated in January 2001, and the economy entered recession just weeks later. Obama entered office in January 2009, like Reagan, after the United States had been in recession for a full year.
Topic:
Economics, International Trade and Finance, Monetary Policy, Financial Crisis, and Governance
Political Geography:
United States

82. Rising Democracies and the Arab Awakening: Implications for Global Democracy and Human Rights

Author:
Ted Piccone and Emily Alinikoff
Publication Date:
01-2012
Content Type:
Working Paper
Institution:
Center on International Cooperation
Abstract:
As the emerging global order takes shape, debate is growing more intense around the trajectory of the rising powers and what their ascendency to positions of regional and international influence means for the United States, its traditional allies, and global governance more broadly. Commentary about these rising powers— often referred to in a generic way as the BRICS (Brazil, Russia, India, China, South Africa) but actually encompassing a dozen or so countries largely represented in the G-20—ranges from alarmist to sanguine. Pessimists argue that China, with its impressive economic growth and increasingly global reach, is well-positioned to challenge the United States' role of global superpower and to weaken the commitment of other rising powers, and various international organizations, to liberal values. More optimistic analysts insist that the rise of middle powers, most of which are democracies of varying stripes, bodes well for the world: millions are being lifted out of poverty, rule of law is taking hold and the international system is bound to be a more inclusive, representative one.
Topic:
Democratization, Development, Economics, Globalization, Human Rights, International Trade and Finance, Markets, Poverty, and Governance
Political Geography:
Russia, United States, China, India, South Africa, Brazil, and Arabia

83. The Quest for Political Reform in Azerbaijan: What Role for the Transatlantic Community?

Author:
Anar Valiyev
Publication Date:
02-2012
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
As Azerbaijan celebrates its 20th anniversary of independence, democratic development remains a key challenge facing the country. Despite the fact that Azerbaijan successfully coped with immediate problems such as poverty reduction and economic and political stability, the need to reform the public administration and decentralize governance has become particularly urgent. The main problems, however, remain the same: low public trust in institutions, the absence of a democratic political culture and the lack of bridging social capital. In this regard, the assistance of the Transatlantic Community is necessary. The European Union and the United States should pursue a developmental approach to democracy promotion in Azerbaijan, which has higher chances to succeed than a more explicitly political approach, considering the weak institutional capacity in the country.
Topic:
Democratization, Development, Economics, Poverty, and Governance
Political Geography:
United States, Europe, and Azerbaijan

84. America's Voluntary Standards System—A "Best Practice" Model for Innovation Policy?

Author:
Dieter Ernst
Publication Date:
02-2012
Content Type:
Working Paper
Institution:
East-West Center
Abstract:
For its proponents, America's voluntary standards system is a "best practice" model for innovation policy. Foreign observers however are concerned about possible drawbacks of a standards system that is largely driven by the private sector. There are doubts, especially in Europe and China, whether the American system can balance public and private interests in times of extraordinary national and global challenges to innovation.
Topic:
Democratization, Economics, Globalization, International Trade and Finance, Markets, and Governance
Political Geography:
United States, China, and Europe

85. Leadership Decapitation and the End of Terrorist Groups

Author:
Bryan C. Price
Publication Date:
05-2012
Content Type:
Policy Brief
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
Leadership decapitation has largely failed to produce desired policy results against organizations other than terrorist groups, such as state regimes and drug cartels. For example, killing or capturing kingpins has had little effect on the flow of drugs into the United States, and worse, it has often led to more drugs, more cartels, and more violence. Terrorist groups are different. Because they are violent, clandestine, and values-based organizations, terrorist groups are especially susceptible to leadership decapitation.
Topic:
Political Violence, Crime, Terrorism, Counterinsurgency, Narcotics Trafficking, and Governance
Political Geography:
United States

86. The Negative Effects of Minimum Wage Laws

Author:
Mark Wilson
Publication Date:
06-2012
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
The federal government has imposed a minimum wage since 1938, and nearly all the states impose their own minimum wages. These laws prevent employers from paying wages below a mandated level. While the aim is to help workers, decades of economic research show that minimum wages usually end up harming workers and the broader economy. Minimum wages particularly stifle job opportunities for low-skill workers, youth, and minorities, which are the groups that policymakers are often trying to help with these policies.
Topic:
Economics, Labor Issues, and Governance
Political Geography:
United States

87. The Independent Payment Advisory Board: PPACA's Anti-Constitutional and Authoritarian Super-Legislature

Author:
Michael F. Cannon and Diane Cohen
Publication Date:
06-2012
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
When a member of Congress introduces legislation, the Constitution requires that legislative proposal to secure the approval of the House of Representatives, the Senate, and the president (unless Congress overrides a presidential veto) before it can become law. In all cases, either chamber of Congress may block it.
Topic:
Government, Politics, Governance, and Law
Political Geography:
United States

88. Regulation, Market Structure, and Role of the Credit Rating Agencies

Author:
Mark A. Calabria and Emily McClintock Ekins
Publication Date:
08-2012
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
During the financial crisis of 2008, the financial markets would have been better served if the credit rating agency industry had been more competitive. We present evidence that suggests the Securities and Exchange Commission's designation of Nationally Recognized Statistical Rating Organizations (NRSROs) inadvertently created a de facto oligopoly, which primarily propped up three firms: Moody's, S, and Fitch. We also explain the rationale behind the NRSRO designation given to credit rating agencies (CRAs) and demonstrate that it was not intended to be an oligopolistic mechanism or to reduce investor due diligence, but rather was intended to protect consumers. Although CRAs were indirectly constrained by their reputation among investors, the lack of competition allowed for greater market complacency. Government regulatory use of credit ratings inflated the market demand for NRSRO ratings, despite the decreasing informational value of credit ratings. It is unlikely that this sort of regulatory framework could result in anything except misaligned incentives among economic actors and distorted market information that provides inaccurate signals to investors and other financial actors. Given the importance of our capital infrastructure and the power of credit rating agencies in our financial markets, and despite the good intentions of the uses of the NRSRO designation, it is not worth the cost and should be abolished. Regulators should work to eliminate regulatory reliance on credit ratings for financial safety and soundness. These regulatory reforms will, in turn, reduce CRA oligopolistic power and the artificial demand for their ratings.
Topic:
Economics, Markets, Financial Crisis, and Governance
Political Geography:
United States

89. Reinventing America's Legacy Cities: Strategies for Cities Losing Population

Publication Date:
04-2011
Content Type:
Working Paper
Institution:
American Assembly at Columbia University
Abstract:
The global knowledge economy favors cities because their density and infrastructure support the knowledge spillovers and innovation that flow from concentrated economic activity. Increasing demand for energy efficiency, too, favors the proximity and walkability found in cities' dense urban development patterns. Perhaps most importantly, cities continue to offer a unique opportunity for living well together in dense, dynamic communities where diversity and democracy flourish. In the United States people continue to move to metropolitan areas and before the Great Recession were increasingly returning to central cities, a trend expected to continue as the economy rebounds.
Topic:
Development, Economics, Markets, Governance, and Urbanization
Political Geography:
United States

90. Private School Chains in Chile: Do Better Schools Scale Up?

Author:
Gregory Elacqua, Humberto Santos, Dante Contreras, and Felipe Salazar
Publication Date:
08-2011
Content Type:
Working Paper
Institution:
The Cato Institute
Abstract:
There is a persistent debate over the role of scale of operations in education. Some argue that school franchises offer educational services more effectively than do small independent schools. Skeptics counter that large, centralized operations create hard-to-manage bureaucracies and foster diseconomies of scale and that small schools are more effective at promoting higher-quality education. The answer to this question has profound implications for U.S. education policy, because reliably scaling up the best schools has proven to be a particularly difficult problem. If there are policies that would make it easier to replicate the most effective schools, systemwide educational quality could be improved substantially.
Topic:
Development, Education, and Governance
Political Geography:
United States, Latin America, and Chile