Is the U.S. headed for a recession? History tells us a near-term recession is unlikely — but emergent threats like unregulated crypto exchanges and U.S. debt servicing necessitate further measures to mitigate economic risk, writes public finance fellow Jorge Barro.
In this issue brief, public finance fellow Jorge Barro finds that lower state income taxation is associated with higher net taxpayer migration. Further, Barro explains that since the passage of the 2017 tax reform, taxpayers and earnings potential have both migrated to lower-taxing states at a faster rate.
In this brief, public finance fellow Jorge Barro explains some of the long-term economic impacts of the COVID-19 pandemic and argues that policymakers can prepare for the impending macroeconomic shortfalls by maintaining a commitment to improving education, prioritizing immigration and resolving fiscal imbalances.
While recent headlines announce that President Biden's proposed budget will drive the national debt past WWII levels, fellow Jorge Barro explained in November 2020 that a projected surge will be very different from the 1940s.
Public finance fellow Jorge Barro analyzes Federal Reserve survey data released in September 2020 that shows that U.S. wealth inequality has declined for the first time in 30 years.
The 2017 Tax Cuts and Jobs Acts offers a starting point for compromise to revitalize the corporate income tax, fellows Jorge Barro and Joyce Beebe write in this issue brief.
In June 2018, Saudi Arabia finally put an end to its legal ban on women driving, opening the way for millions of new drivers to navigate across a country three times bigger than Texas. While the long-overdue policy shift provides relief to women who lacked freedom of mobility, the onset of so many new drivers has enormous consequences for transportation and the energy sector, as well as labor market participation and public health.
This issue brief presents the results of a dynamic model similar in nature to the macroeconomic models used by the Congressional Budget Office and Joint Committee on Taxation in evaluating the Tax Cuts and Jobs Act of 2017. The model shows a modest decline in wealth inequality due to the corporate tax cuts in the TCJA.
