Category Archives: Regulatory Policy
Novel Research on Elections, Policymaking, Economic Uncertainty
The Becker Friedman Institute of the University of Chicago and the Hoover Institution of Stanford University teamed up yesterday to put on a Conference on Elections, Policymaking, and Economic Uncertainty. The conference was held at the Hoover Institution Offices in … Continue reading
Desperately Needed: Reforms to Raise Productivity Growth
The data released this week on labor productivity growth are really terrible. The growth rate has been negative now for three quarters in a row, and it was – .4 percent over the past year. Unfortunately, these data are reinforcing … Continue reading
Posted in Fiscal Policy and Reforms, Regulatory Policy, Slow Recovery
An Economic and Security Policy Blueprint for America
A timely new policy book, Blueprint for America, edited by George P. Shultz, is being released today online for the first time. The release coincides with the start of platform writing by Republicans this week and Democrats the following week, … Continue reading
Now is the Time for “Chapter 14” Bankruptcy Reform
Yesterday a “Chapter 14” bankruptcy reform passed the House of Representatives as Title XI (The Financial Institution Bankruptcy Act) of the Appropriations Bill on Financial Services and General Government. This is a very promising development. The reform would largely end … Continue reading
Posted in Financial Crisis, Regulatory Policy
Whither Economic Freedom Post-Brexit?
As events are turning out, the Brexit decision is providing an opening to revive a trend toward economic freedom and thus stronger economic growth. But will the UK leadership and their counterparts in the EU and the US take that … Continue reading
Posted in International Economics, Regulatory Policy
Solid Economic Support for Sensible Financial Reforms
Economic research, including work in the 1970s on time inconsistency, has long provided a rationale for central bank independence in conducting monetary policy. Indeed, the research encouraged the spread of central bank independence and inflation targeting around the world in … Continue reading
Posted in Monetary Policy, Regulatory Policy
New Book on Fed Oversight Reform
Recent legislation to rein in Fed power, including the Fed Oversight Reform and Modernization (FORM) Act, has generated a load of opinion pieces and acrimonious debate, but so far little in the way of in-depth policy research. The purpose of the … Continue reading
Posted in Monetary Policy, Regulatory Policy
An Economic Policy–Performance Cycle
For several years I have writing about an cycle in which economic policy swings toward and away from certain key principles of economic freedom. The poor performance of the U.S. economy during the past decade —the Great Recession, the Not-So-Great … Continue reading
Posted in Fiscal Policy and Reforms, Regulatory Policy
Other Economic Lessons the US Can Learn from Greece
Last week the Senate Foreign Relations Subcommittee on Europe and Regional Security Cooperation held a hearing for which I was asked to address the lessons that the United States can learn from the Greek financial crisis. One obvious lesson is … Continue reading
Posted in Financial Crisis, Regulatory Policy, Slow Recovery
Make Failure Feasible and End “Too Big To Fail”
Today the Senate held a hearing on a bankruptcy reform proposal which would address the problem of too-big-to-fail head on. The reform applies to large financial firms and makes failure feasible under clear rules without systemic spillovers thereby greatly reducing … Continue reading
Posted in Financial Crisis, Regulatory Policy
