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2. Borrowers with Large Balances: Rising Student Debt and Falling Repayment Rates
- Author:
- Adam Looney and Constantine Yannelis
- Publication Date:
- 02-2018
- Content Type:
- Special Report
- Institution:
- The Brookings Institution
- Abstract:
- We examine the distribution of student loan balances and repayment rates in the United States using administrative student loan data. We show that increases in credit limits and expansions in credit availability resulted in rising borrowing amounts, and that the share of borrowers holding very large balances has surged. For instance, the share of borrowers leaving school with more than $50,000 of federal student debt increased from 2 percent in 1992 to 17 percent in 2014. Consequently, a small share of borrowers now owes the majority of loan dollars in the United States. Although these large-balance borrowers have historically strong labor market outcomes and low rates of default, repayment rates have slowed significantly between 1990 and 2014 reflecting, in part, changes in the characteristics of students, the schools they attended, and the rising amounts borrowed. A decomposition analysis indicates that changes in the types of institutions attended, student demographics, default rates, and increased participation of alternative repayment plans and forbearance largely explain the decrease in student loan repayment.
- Topic:
- Education and International Affairs
- Political Geography:
- America
3. Unpacked: New trade tariffs and the U.S. economy
- Author:
- Eswar Prasad
- Publication Date:
- 01-2018
- Content Type:
- Video
- Institution:
- The Brookings Institution
- Abstract:
- Brookings Senior Fellow Eswar Prasad unpacks the impact of the new steel and aluminum tariffs proposed by the Trump administration. He explains that the new tariffs have undermined America’s leadership as proponents of free trade and will decrease America’s economic influence across the globe.
- Topic:
- International Political Economy
- Political Geography:
- America
4. Unpacked: The threat from North Korea
- Author:
- Jonathan Pollack
- Publication Date:
- 04-2017
- Content Type:
- Video
- Institution:
- The Brookings Institution
- Abstract:
- Brookings Senior Fellow and SK-Korea Foundation Chair Jonathan Pollack explains the threat that North Korea poses to the United States, its neighbors, and the world. Pollack also explores the different options that the United States has to handle threats from North Korea and describes the different scenarios that could escalate tensions between the United States and North Korea.
- Topic:
- International Security and Geopolitics
- Political Geography:
- America, North Korea, and Global Focus
5. Renegotiating NAFTA: Options for investment protection
- Author:
- Geoffrey Gertz
- Publication Date:
- 03-2017
- Content Type:
- Special Report
- Institution:
- The Brookings Institution
- Abstract:
- President Donald Trump has promised to renegotiate the North American Free Trade Agreement (NAFTA), which links the United States with two of its largest trading partners, Canada and Mexico. Officials in both Canada and Mexico have signaled they are open to renegotiations, and talks are expected to begin soon. New commerce secretary Wilbur Ross has indicated he hopes the negotiations could be completed within a year.
- Topic:
- International Relations, International Trade and Finance, and International Security
- Political Geography:
- America, Canada, and Mexico
6. India and the United States in the Trump era: Re-evaluating bilateral and global relations
- Author:
- Dhruva Jaishankar
- Publication Date:
- 06-2017
- Content Type:
- Special Report
- Institution:
- The Brookings Institution
- Abstract:
- Donald Trump’s election at a time of growing and converging interests between India and the United States necessitates a re-evaluation of several aspects of Indian domestic and foreign policy. This paper identifies four areas in which Trump’s election affects Indian interests: bilateral relations (encompassing trade, investment, immigration, and technological cooperation), the Asian balance of power, counterterrorism, and global governance. It argues that India must continue to engage with the Trump administration and other stakeholders in the United States—including the U.S. Congress, state governments, and the private sector—in all of these areas. New Delhi must attempt to convince Washington that India’s rise is in American interest. This idea provided the underlying logic behind the Clinton, Bush, and Obama administrations’ engagement with India, but it will be more difficult to sustain given the United States’ new political realities and impulses.
- Topic:
- International Relations and International Affairs
- Political Geography:
- America and India
7. Unpacked: US NAFTA renegotiations
- Author:
- Joseph Parilla
- Publication Date:
- 09-2017
- Content Type:
- Video
- Institution:
- The Brookings Institution
- Abstract:
- Brookings Fellow Joseph Parilla discusses the renegotiation of NAFTA 25 years after its creation and explains the importance of NAFTA to the U.S. economy at both the national and local level.
- Topic:
- International Political Economy and International Affairs
- Political Geography:
- America and Global Focus
8. The Trans-Pacific Partnership The politics of openness and leadership in the Asia-Pacific
- Author:
- MIREYA SOLIS and Mireya Solis
- Publication Date:
- 10-2016
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- Trade policy, and the Trans-Pacific Partnership (TPP) in particular, is vitally connected to the national interests of prosperity, security, and governance. With novel rules on the digital economy, high tariff elimina- tion targets, and disciplines to address behind-the-border protectionism, the TPP creates opportunities for American sectors that enjoy competitive strength—services, advanced manufacturing, agriculture—to expand their reach in overseas markets. Projected annual income gains from this trade deal range between $57 billion and $131 billion by 2032, compared to a base- line scenario. In sharp contrast to the experience of import competition with China, the TPP will not impose large adjustment costs in terms of employment and wages, generating instead a net (albeit small) positive effect on job creation and wage rates. However, the individual costs for displaced employees are very high, and the contours of a new pro-adjustment safety net that enables workers to navigate difficult economic transitions (brought about by technological change or trade) are highlighted below.
- Topic:
- Globalization, International Political Economy, and International Trade and Finance
- Political Geography:
- America and Asia-Pacific
9. China’s Global Rise Can the EU and U.S. Pursue a Coordinated Strategy?
- Author:
- Philippe Le Corre and Jonathan Pollack
- Publication Date:
- 10-2016
- Content Type:
- Special Report
- Institution:
- The Brookings Institution
- Abstract:
- China’s emergence as a global economic power and its fuller integration in the international order are among the principal policy challenges facing Europe and the United States in the early 21st century. At the time of Beijing’s entry into the World Trade Organization (WTO) in 2001, China (though already growing rapidly) was in global terms an economic actor of limited consequence. A decade and a half later, China’s transformation is without parallel in economic history. Over the past 15 years, China has experienced an eightfold increase in GDP, enabling it to serve as the pri- mary engine of global economic growth in the early 21st century. It has leapfrogged from sixth to second place among the world’s economies, trail- ing only the United States in absolute economic size. In addition, China has become the world’s leading trading state and is now the second largest source of outward foreign direct investment. Change of this magnitude has enhanced China’s political power and eco- nomic leverage. It has also stimulated China’s internal economic evolution, simultaneously expanding the power of state-owned enterprises (SOEs) while also contributing to major growth in the private sector. China has also begun to think bigger, devoting increased attention to the rules of global economic governance. Although Beijing insists it has no intention of supplanting the existing international order, China contends that chang- ing power realities will require modification of global rules.
- Topic:
- International Cooperation, International Political Economy, and Geopolitics
- Political Geography:
- China, America, and Europe
10. A Framework for U.S. Policy toward China
- Author:
- Jeffrey Bader
- Publication Date:
- 03-2016
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- Serious people understand that the manner in which the United States deals with China will be a critical, if not the critical, overseas chal- lenge for the United States in the 21st century. China will likely be the largest economy in the world within one or two decades; the second or third strongest military soon, if not already; and competitive with the United States and Europe in global economic, and perhaps political and cultural, influence in some regions. China is ruled by a Communist Par- ty resistant to political liberalization at home and wedded to nationalist rhetoric and behavior in dealing with its neighborhood, enhancing the chances for rivalry with the United States. For those students of history who see conflict as the likely outcome when ris- ing powers encounter dominant powers, these are precursors of a dark future. How should we deal with China? What policy framework best optimizes our interests, which are multiple and not always consistent with each oth- er? Americans are in the midst of an ongoing presidential campaign that, in a better world, would be asking and answering such questions, but this is not such a campaign.
- Topic:
- International Relations, Foreign Policy, and International Political Economy
- Political Geography:
- China and America
11. Nuclear Arms Control Choices for the Next Administration
- Author:
- Steven Pifer
- Publication Date:
- 10-2016
- Content Type:
- Special Report
- Institution:
- The Brookings Institution
- Abstract:
- rms control has figured on the agenda between Washington and Moscow since the 1960s. Suc- cessive U.S. administrations since that of Richard Nixon have pursued negotiated arms control arrangements to limit and reduce the number of Soviet (and Russian) nuclear weapons, to enhance strategic stability, to increase transparency and predictability, to reduce the costs of U.S. nuclear forces, and to bolster America’s non-proliferation credentials. Negotiations on arms control have proceeded in times of both good and difficult relations. At times, progress on arms control has helped drive a more positive over- all relationship between Washington and Moscow. At other times, differences over arms control and related issues have contributed to a downward slide in rela- tions. The next president will take office in January 2017, when the overall U.S.-Russia relationship is at its lowest point since the end of the Cold War.
- Topic:
- International Relations, Arms Control and Proliferation, Nuclear Weapons, and International Security
- Political Geography:
- Russia and America
12. Back from the Brink Toward Restraint and Dialogue between Russia and the West
- Author:
- William Perry and Deep Cuts Commission
- Publication Date:
- 06-2016
- Content Type:
- Special Report
- Institution:
- The Brookings Institution
- Abstract:
- This report contains a number of bold proposals on how to better manage relations between the West and Russia in order to avert worst-case scenarios. Specifying that cooperative solutions are pos- sible without giving up on the fundamental interests of each side, it warrants a close look by officials in both Moscow and Washington.
- Topic:
- International Relations, International Cooperation, International Security, International Affairs, and Geopolitics
- Political Geography:
- Russia, America, Europe, and Global Focus
13. Jordan: The Geopolitical Service Provider
- Author:
- Emmanuel Comolet
- Publication Date:
- 02-2014
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- Jordan is in the eye of the Arab cyclone. It remains stable while surrounded by chaotic political situations in Syria, Iraq, Palestine and the Sinai Peninsula. Jordan has not experienced the massive demonstrations aimed at regime change that have been seen elsewhere in the region, and its relative stability has enabled it to cash in on the geo-political services it provides. These services include: hosting refugees from Palestine, Iraq or Syria; remaining a reliable ally for many international powers; featuring a strong army that plays a stabilizing role in the region; serving as an intermediary when neighboring countries need a host or a dealmaker; and providing qualified Jordanian workers to fill open vacancies for companies and countries, especially in the Gulf. The current stability in Jordan matches well its historic capacity to resist and adapt to shocks. However, the contemporary situation of the labor market reveals that the weaknesses observed in the countries having experienced revolutions (e.g., Tunisia and Egypt) are also present in Jordan; labor market participation is low with very few women active, and the unemployment rate of educated young people is worrisome. Both the number of Jordanians working abroad and the number of migrant workers in Jordan show the discrepancy between demand and supply of labor in Jordan. This could become problematic, since the economic situation has been worsening, notably with fewer public jobs available. Hence there is a need for international donors to keep supporting Jordan in a difficult regional environment, for the government of Jordan to wittily manage the balance between Transjordanians and West Bankers in the near future and for new workers to alter their expectations in searching for opportunities outside the public sector.
- Topic:
- Conflict Resolution, Political Violence, Democratization, Armed Struggle, and Counterinsurgency
- Political Geography:
- Iraq, America, Middle East, Arabia, Syria, and Tunisia
14. Designing Youth Employment Policies in Egypt
- Author:
- Akira Murata
- Publication Date:
- 01-2014
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- The paper uses a discrete choice experiment (DCE) to elicit job preferences among youth, and analyzes survey data collected from engineering students at 10 universities in six cities in Egypt during the period of July through October 2013. For a comparative analysis, the survey was also conducted at eight universities in five cities in Indonesia, which is one of the nations in Asia with a Muslim-majority population that faces the same demographic issue. The findings of this research will contribute to building a foundation for designing youth employment policies in Egypt. The most obvious findings to emerge from this study are that: the public-private sector wage differentials must be narrowed; better benefits must accompany private sector employment (particularly support for continuing education, upgrading qualifications, and health insurance); and good IT infrastructure matters. Taken together, these steps could significantly contribute to an increase in the rates of a private sector employment among young Egyptian job seekers, even in the case of continued high public sector wages.
- Topic:
- Conflict Prevention, Economics, International Trade and Finance, Islam, Labor Issues, and Youth Culture
- Political Geography:
- Africa, America, and Arabia
15. Adjusting to China: A Challenge to the U.S. Manufacturing Sector
- Author:
- Martin Neil Baily
- Publication Date:
- 01-2011
- Content Type:
- Policy Brief
- Institution:
- The Brookings Institution
- Abstract:
- During an "exit interview" with the Wall Street Journal, departing National Economic Council Director Lawrence Summers argued that history would judge the United States based on how well we adjust to China's emergence as a great power, economically and politically. In the face of China's progress, America's manufacturing sector faces major challenges in becoming and remaining competitive and our choice of national economic policies will affect how well we meet those challenges. It is essential that the U.S. trade deficit not balloon as the economy recovers. There is scope to expand our exports in services and agriculture, but improving the competitiveness of U.S. manufacturing is vital.
- Topic:
- International Trade and Finance, Markets, and Bilateral Relations
- Political Geography:
- United States, China, and America
16. Opportunity through Education: Two Proposals
- Author:
- Grover J. "Russ" Whitehurst
- Publication Date:
- 03-2011
- Content Type:
- Policy Brief
- Institution:
- The Brookings Institution
- Abstract:
- The new normal for local, state and federal governments is fiscal austerity. Although President Obama supported education during his State of the Union address and in his budget proposal to Congress, cash-strapped localities and states—which foot most of the bill for educating America's children— may have to balance their budgets with cuts to schools and teachers. The recession exposed a long-developing structural imbalance between public expenditure versus raising the revenue for public services. Especially on education, reality has set in, with a vengeance.
- Topic:
- Education, Science and Technology, and Financial Crisis
- Political Geography:
- United States and America
17. A Bridge to Somewhere: Rethinking American Transportation for the 21st Century
- Author:
- Robert Puentes
- Publication Date:
- 06-2008
- Content Type:
- Policy Brief
- Institution:
- The Brookings Institution
- Abstract:
- In the past, strategic investments in our nation's transportation infrastructure—the railroads in the 19th century, the interstates in the 20th—turbocharged growth and transformed the country. But more recently, America's transportation infrastructure has not kept pace with the growth and evolution of its economy. At the precise time when the nation desperately needs to prioritize its limited investments and resources, the federal transportation program has lost focus.
- Topic:
- Development, Environment, and Government
- Political Geography:
- United States and America
18. Candidate Issue Index: Trade
- Author:
- Lael Brainard
- Publication Date:
- 02-2008
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- Compiled by Brookings Institution experts, this chart is part of a series of issue indices to be published during the 2008 Presidential election cycle. The policy issues included in this series were chosen by Brookings staff and represent the most critical topics facing America's next President. Available voting records and statements vary based on time in office. For candidates who have not been a Member of Congress, public statements are noted when available.
- Topic:
- Economics, International Trade and Finance, and Politics
- Political Geography:
- United States and America
19. The Future of Red, Blue and Purple America
- Author:
- Ruy Teixeira
- Publication Date:
- 01-2008
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- Political polarization in the United States has a number of causes, ranging from media hype to gerrymandering to hyper- ideological elites to cultural “sorting” between the parties. But there is another key contributor that is frequently overlooked: demographic and geographic changes in the electorate that have altered the sizes of different population groups and even shifted their political orientations over time. These changes have helped produce the current deadlock between coalitions of roughly equal size and opposed outlooks. But these same changes—since they will continue to alter group sizes and political orientations in the future—could also provide the impetus for unlocking this polarization and policy gridlock in the future.
- Topic:
- Democratization, Economics, and Politics
- Political Geography:
- United States and America
20. Engagement with the Muslim Community and Counterterrorism: British Lessons for the West
- Author:
- H.A. Hellyer
- Publication Date:
- 12-2007
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- Historians will undoubtedly record that the events of September 11th, 2001 were a turning point for policy makers and politicians in the United States of America. America faced a new kind of security threat, the response to which would spark a series of difficult chain-reactions and challenge core national values. More than six years on, America is still grappling with the question of how to respond, both domestically and internationally, to the terrorist threat.
- Topic:
- Ethnic Conflict, Islam, and Terrorism
- Political Geography:
- United States, United Kingdom, America, and Europe
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