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You searched for: Content Type Policy Brief Remove constraint Content Type: Policy Brief Publishing Institution American Enterprise Institute for Public Policy Research Remove constraint Publishing Institution: American Enterprise Institute for Public Policy Research Publication Year within 25 Years Remove constraint Publication Year: within 25 Years Topic Economics Remove constraint Topic: Economics
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  • 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, Markets
  • Political Geography: United States
  • 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, Markets
  • 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, Markets
  • 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, Economics
  • Political Geography: United States, China, Beijing, Asia
  • 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, International Trade and Finance
  • Political Geography: Russia, Europe, Asia, Soviet Union
  • 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, Government
  • 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, Markets
  • 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, Education
  • Author: Roger F. Noriega
  • Publication Date: 02-2006
  • Content Type: Policy Brief
  • Institution: American Enterprise Institute for Public Policy Research
  • Abstract: "America is addicted to oil," President George W. Bush told the nation in his January 31 State of the Union address, "which is often imported from unstable parts of the world." Spelling out a plan for using technology "to develop cleaner, cheaper, more reliable alternative energy sources," the president set a worthy goal to "make our dependence on Middle Eastern oil a thing of the past." Although the president's long-term vision is of a country less dependent on petroleum, a near-term solution for being less reliant on "unstable" sources of energy can be found in encouraging resource-rich nations in the Western Hemisphere to adopt sound policies for developing their oil and gas industries. Without a concerted effort right now engaging government and industry, however, we may witness some countries with vast potential embrace statist models that squander their natural resources and make them less reliable and less stable partners.
  • Topic: Economics, Energy Policy, Environment
  • Political Geography: United States, America
  • Author: John H. Makin
  • Publication Date: 12-2006
  • Content Type: Policy Brief
  • Institution: American Enterprise Institute for Public Policy Research
  • Abstract: A weak housing sector has accompanied every American recession since 1965, but not every episode of housing weakness has accompanied a recession. An annual drop in the growth rate of residential investment (a good measure of homebuilding activity) of more than 10 percent has coincided with a recession five of the seven times it has occurred since 1965. (In 1967 and in 1995, declines in residential investment occurred without a recession.) A significant drop in residential investment therefore appears to be a necessary condition, but not a sufficient condition, for a U.S. recession.
  • Topic: Economics, Human Welfare, Markets
  • Political Geography: United States, America