The trade war has received an enormous amount of attention. Its impacts today have been limited because the U.S. and China have been a bit…
With interest rates persistently low or even negative in advanced countries, policymakers have barely any room to ease monetary policy when…
The Federal Reserve’s current monetary policy framework combines conventional policy that sets the level of the federal funds rate with…
Can supply-side environmental policies that limit the extraction of fossil fuels reduce CO2 emissions? This paper studies interactions…
In the coming decades, federal spending will need to grow just to enable the government to continue to provide the services it does today.…
Consider a first-price sealed-bid auction with interdependent valuations and private budget constraints. Focusing on the two-bidder case,…
Despite the substantial revenue potential of corporate taxation, the United States currently collects about the lowest corporate revenue (…
There is widespread agreement among economists—and a diverse set of other policy analysts—that at least in the long run, an economy-wide…
A well-functioning environmental regulatory program makes the American people better off by protecting the air we breathe, water we drink,…
The design of climate change policy must address a number of key uncertainties, including the impacts of climate change, the economics of a…