Source: http://france.usembassy.gov
AMERICAN MOBILITY: WHO MOVES? WHO STAYS PUT? WHERE’S HOME?
Pew Research Center, December 25, 2008
http://pewsocialtrends.org/assets/pdf/Movers-and-Stayers.pdf
As a nation, the United States is often portrayed as restless and rootless. Census data, though, indicate that Americans are settling down. Only 13% of Americans changed residences between 2006 and 2007, the smallest share since the government began tracking this trend in the late 1940s. The Pew survey finds that most Americans have moved to a new community at least once in their lives, although a notable number, nearly four-in-ten, have never left the place in which they were born. Asked why they live where they do, movers most often cite the pull of economic opportunity. The stayers most often cite the tug of family and connections.
BUILDING AN AMERICANIZATION MOVEMENT FOR THE 21st CENTURY
U.S. Department of Homeland Security, Taskforce on New Americans, 2008
http://www.uscis.gov/files/nativedocuments/M-708.pdf
With a long immigrant tradition, we as a nation have embraced the opportunities and met the challenges associated with each successive wave of immigration. The present wave is no exception. With immigrants increasingly coming from different countries of origin and settling in communities that lack a long history of receiving immigrants, citizens and immigrants alike should reengage the principles and values that bind us as Americans. Educating on these principles and providing opportunities for civic participation will ensure that the United States remains a successful nation and a home to immigrants.
AMERICAN HEALTHCARE SINCE 1994: THE UNACCEPTABLE STATUS QUO
Center for American Progress, January 8, 2009
http://www.americanprogress.org/issues/2009/01/pdf/1994_health_memo.pdf
Since the failure of health care reform in 1994, costs have increased, quality has been inconsistent, and more Americans have joined the ranks of the uninsured.
THE CASE FOR PUBLIC PLAN CHOICE IN NATIONAL HEALTH REFORM: KEY TO COST CONTROL AND QUALITY COVERAG
Institute for America’s Future, December 18, 2008
http://institute.ourfuture.org/files/Jacob_Hacker_Public_Plan_Choice.pdf
A health care system that contains costs and drives value must include a good public plan if the broad goals of reform, universal insurance and improved value, are to be achieved. Private insurance and public insurance have distinct strengths and weaknesses, and thus should be encouraged to compete side by side to attract enrollees on a level playing field that rewards plans that deliver better value and health to their enrollees, according to the report.
KEY ISSUES IN ANALYZING MAJOR HEALTH INSURANCE PROPOSALS
Congressional Budget Office, December 2008
http://www.cbo.gov/ftpdocs/99xx/doc9924/12-18-KeyIssues.pdf
The proposals are built upon Congressional Budget Office’s (CBO) previous analytical work on health insurance and health care financing issues and are intended to assist the Congress as it contemplates possible changes, both large and small, to federal health programs and the nation’s health insurance and health care systems.
THE ECONOMIC CRISIS HITS HOME: THE UNFOLDING INCREASE IN CHILD AND YOUTH HOMELESSNESS
First Focus, December 19, 2008
http://www.firstfocus.net/Download/TheEconomicCrisisHitsHome.pdf
The study finds that school districts across the country have experienced a significant spike in the number of homeless students. The report centers around a voluntary survey conducted during the fall of 2008 by the National Association for the Education of Homeless Children and Youth and First Focus.
RISING FOOD PRICES TAKE A BITE OUT OF FOOD STAMP BENEFITS
U.S. Department of Agriculture, December 2008
http://www.ers.usda.gov/Publications/EIB41/EIB41.pdf
The Food Stamp Program is designed to provide low-income families with increased food purchasing power to obtain a nutritionally adequate diet. As in most other Federal Government assistance programs, benefits are adjusted in response to rising prices, in this case, rising food prices. In FY 2008, the amount grew from almost $8 in October 2007 to $34 in July 2008 and to $38 in September 2008.
HUNGER AND HOMELESSNESS SURVEY
United States Conference of Mayors, December 2008
http://www.usmayors.org/pressreleases/documents/hungerhomelessnessreport_121208.pdf
Hunger and homelessness are both on the rise according to the report. For more than 22 years, the Conference of Mayors has documented the magnitude of the issues of hunger and homelessness in our nation’s cities. The report provides an analysis of the scale of the problem in twenty-five of America’s major cities and the efforts these cities are making to address the issue.
THE LONG WAIT FOR PROGRESS: WOMEN AND ECONOMIC AND SOCIAL EQUALITY
Century Foundation, December 21, 2008
http://www.tcf.org/publications/economicsinequality/longwait_brief.pdf
The report shows that despite some progress, America is a nation in which neither minorities nor women have yet achieved anything approaching economic or social equality. The report analyzes the substantial gap in wages between men and women, and then measures that gap in the context of women’s educational achievements and the continuing discrimination against women in the workplace, with attention to the impact of the issues of health and child care.
AASA SURVEY RESULTS: OPPORTUNITY FOR FEDERAL EDUCATION FUNDING
American Association of School Administration, December 18, 2008
http://www.aasa.org/files/PDFs/Publications/FINALResults121008Memo.pdf
America’s public schools have a list of ready-to-go construction and renovation projects that, with an infusion of federal economic stimulus funds, would work to both stimulate a stagnating economy and improve the educational environment for children, according to a national survey. AASA administered the survey to superintendents nationwide in December 2008 to learn how school districts would spend one-time block-grant funds, if they were to become available as part of an economic stimulus package. Almost all respondents, 99 percent, identified budget gaps that they could direct stimulus money to and 97 percent identified short-term projects that could be placed in the bid market in 60-90 days.
PRESCHOOL CURRICULUM: WHAT’S IN IT FOR CHILDREN AND TEACHERS
Albert Shanker Institute, December 16, 2008
http://www.shankerinstitute.org/Downloads/Early%20Childhood%2012-11-08.pdf
The Albert Shanker Institute suggests that early, age-appropriate instruction in language, literacy, mathematics and science can have significant, long-lasting effects on preschool children’s social and cognitive skills. While 43 states and the District of Columbia have adopted early childhood standards designed to prepare children to take on the academic requirements of the elementary grades, these standards are of varying quality, often underestimate what young children are capable of absorbing, and are not always adapted to the unique ways in which young children learn best.
THE STATE OF AMERICA’S CHILDREN 2008
Children’s Defense Fund, December 25, 2008
http://www.childrensdefense.org/site/DocServer/state-of-americas-children-2008-report.pdf?docID=9061
The report is a statistical compendium of key child data showing epidemic numbers of children at risk: the number of poor children has increased nearly 500,000 to 13.3 million, with 5.8 million of them living in extreme poverty, and nearly 9 million children lack health coverage with both numbers likely to increase during the recession. The number of children and teens killed by firearms also increased after years of decline.
RANKINGS AND ESTIMATES: RANKINGS OF THE STATES 2008 AND ESTIMATES OF SCHOOL STATISTICS 2009
National Education Association, December 2008
http://www.nea.org/edstats/images/rankings08.pdf
Teachers across the nation are continuing to lose spending power for themselves and their families as inflation continued to outpace teacher salaries last year. Over the decade from 1997-98 to 2007-08, in constant dollars, average salaries for public schoolteachers declined 1 percent while inflation increased 31.4 percent. According to the report, the average one-year increase in public schoolteacher salaries was 3.1 percent, while inflation increased 4.3 percent
2008 STATE OF AMERICA’S CITIES: ANNUAL OPINION SURVEY OF MUNICIPAL OFFICIALS
National League of Cities, December 22, 2008
http://www.nlc.org/ASSETS/43A4BDCCFDAE4D029D66719CE63F43DA/StateofAmericasCities2008.pdf
A record number of municipal officials expressed their growing pessimism for the nation’s direction, according to a survey. The Survey demonstrates the widespread nature of the current economic crisis is having on cities’ bottom lines. It shows that at mid-recession, more than six out of 10 city officials are pessimistic about the nation’s future.
The second issue cited most frequently for the new administration is deteriorating transportation infrastructure. Almost seven in ten say the quality of roads, bridges, and airports are problems for their city, with 29% saying the conditions worsened in the past year. The survey also found that two in five city officials responding say the worsening relationship between city and federal governmental bodies is posing a problem for their city; 50% report that city-state relations are posing a problem.
REINVESTING IN NATIONAL PARKS TO CREATE JOBS AND PROTECT AMERICA’S HERITAGE
National Parks Conservation Association, December 21, 2008
http://www.npca.org/media_center/pdf/stimulus_report-dec_16.pdf
The new report highlights several of the more than $2.5 billion worth of job-creating projects in national parks. It encourages Congress and the incoming Obama Administration to include national parks in economic recovery legislation to create jobs and restore our national treasures.
PENSIONS
Martin Neil Baily and Jacob Funk Kirkegaard
US Pension Reform: Lessons from Other Countries
Peterson Institute – Book – February 2009
http://bookstore.petersoninstitute.org/book-store/4259.html
“It is generally accepted that Social Security must be reformed, but there is little agreement on what should be done to reform the program. US Pension Reform: Lessons from Other Countries looks at the social pension reforms of twelve other countries, assesses the current US Social Security program, and evaluates how these twelve models inform opportunities for adaptation of the current system. The authors consider governments' current fiscal balances in order to contextualize countries' initial financial liabilities and pension program infrastructure. The book concludes with an integrated reform proposal for Social Security.”
FAITH ON THE HILL: THE RELIGIOUS AFFILIATIONS OF MEMBERS OF CONGRESS
Pew Forum on Religion & Public Life, December 19, 2008
http://pewforum.org/docs/?DocID=379
Members of Congress are often accused of being out of touch with average citizens, but an examination of the religious affiliations of U.S. senators and representatives shows that, on one very basic level, Congress looks much like the rest of the country. Although a majority of the members of the new, 111th Congress, which will be sworn in on Jan. 6, are Protestants, Congress, like the nation as a whole, is much more religiously diverse than it was 50 years ago. Religious Landscape Survey of over 35,000 American adults finds that some smaller religious groups, notably Catholics, Jews and Mormons, are better represented in Congress than they are in the population as a whole. However, certain other smaller religious groups, including Buddhists, Muslims and Hindus, still are somewhat underrepresented in Congress relative to their share of the U.S. population.
ALL AMERICA’S STAGE: GROWTH AND CHALLENGES IN NONPROFIT THEATER
National Endowment for the Arts, December 26, 2008
http://www.nea.gov/research/TheaterBrochure12-08.pdf
Nonprofit theaters in the United States have seen unprecedented expansion across the United States, according to the research. It examines developments in the growth, distribution, and finances of America’s nonprofit theater system since 1990. The investigation revealed that National Endowment for the Arts funding is a likely catalyst in drawing sizeable contributions from other sources. Each dollar in NEA grant support is associated with an additional $12 from individual donors, $1.88 from businesses, and $3.55 from foundations.
vendredi 23 janvier 2009
OBAMA
PRESIDENT OBAMA’S INAUGURALADDRESS
U.S. Department of State, International Information Programs, January 20, 2009
THE CABINET
U.S. Department of State, International Information Programs, January 2009
U.S. PRESIDENTIAL TRANSITIONS
U.S. Department of State, International Information Programs, January 2009
An important characteristic of democracy in the United States, however, is the regularly recurring peaceful transfer of power from one president to the next. Americans know when the next presidential election will take place – the Tuesday after the first Monday in November every four years. And power will be transferred to the newly elected (or re-elected) president on January 20 of the following year.
MEMBERSHIP OF THE 111the CONGRESS: A PROFILE
Congressional Research Service, December 31, 2008
This report presents a profile of the membership of the 111th Congress. Statistical information is included on selected characteristics of Members, including data on party affiliation, average age and length of service, occupation, religious affiliation, gender, ethnicity, foreign births, and military service.
U.S. Department of State, International Information Programs, January 20, 2009
THE CABINET
U.S. Department of State, International Information Programs, January 2009
U.S. PRESIDENTIAL TRANSITIONS
U.S. Department of State, International Information Programs, January 2009
An important characteristic of democracy in the United States, however, is the regularly recurring peaceful transfer of power from one president to the next. Americans know when the next presidential election will take place – the Tuesday after the first Monday in November every four years. And power will be transferred to the newly elected (or re-elected) president on January 20 of the following year.
MEMBERSHIP OF THE 111the CONGRESS: A PROFILE
Congressional Research Service, December 31, 2008
This report presents a profile of the membership of the 111th Congress. Statistical information is included on selected characteristics of Members, including data on party affiliation, average age and length of service, occupation, religious affiliation, gender, ethnicity, foreign births, and military service.
mercredi 5 novembre 2008
vendredi 15 août 2008
US FINANCIAL MARKETS
Recent Developments in U.S. Financial Markets and Regulatory Responses to Them
Senate Committee on Banking – Hearing – July 15, 2008
http://banking.senate.gov/public/index.cfm?Fuseaction=Hearings.Detail&HearingID=8f6a9350-3d39-43a0-bbfb-953403ab19cc
Witnesses:
Henry M. Paulson , Jr., Secretary of the Treasury
Ben S. Bernanke , Chairman, Board of Governors of the Federal Reserve System
Christopher Cox , Chairman, Securities and Exchange Commission
Systemic Risk and the Financial Markets (1)
US House of Representatives - Committee on Financial Services – Hearing - July 10, 2008
http://www.house.gov/apps/list/hearing/financialsvcs_dem/hr071008.shtml
Treasury Secretary Henry Paulson and Federal Reserve Board Chairman Ben Bernanke appeared at the first of a series of hearings on the policy implications of the transformation of domestic and international financial markets, with a primary focus on the rise of potential systemic risk associated with the dramatic growth in the share of assets held outside the commercial banking system, the complex arrangements that link firms that are regulated differently (or not at all) and the increasing amount of leverage.
Systemic Risk and the Financial Markets (2)
US House of Representatives - Committee on Financial Services – Hearing - July 24, 2008
http://www.house.gov/apps/list/hearing/financialsvcs_dem/hr072408.shtml
This is the second in a series of hearings on the policy implications of the transformation of domestic and international financial markets. Witnesses for this hearing are New York Federal Reserve President Timothy Geithner, S.E.C. Chairman Christopher Cox.
Speculative Bubbles and Overreaction to Technological Innovation
FRB San Francisco - Economic Letter - June 20, 2008 – 4 pages
http://www.frbsf.org/publications/economics/letter/2008/el2008-18.pdf
“This Economic Letter examines some historical links between speculative bubbles, technological innovation, and capital misallocation.”
William R. Emmons FRB St. Louis - Regional Economist – Article - July 2008
The Mortgage Crisis: Let Markets Work, but Compensate the Truly Needy
http://www.stlouisfed.org/publications/re/2008/c/pages/mortgage.html
Recent mortgage-foreclosure rates are the highest since the 1930s.[1] Yet, large-scale government interventions directly in housing or mortgage markets—such as government purchases of delinquent mortgages or vacant houses, involuntary mortgage modifications, or outright mortgage-foreclosure bans—are not necessarily the best policy responses. From the perspective of maximizing long-run economic efficiency, it would be better to allow housing and mortgage markets to sort themselves out, as painful as that may be. Politicians can decide whether and how to help those who were made truly needy by this crisis.
N. Eric Weiss :Congressional Research Service, Library of Congress. Web posted July 21, 2008 – 6 pages
Fannie Mae’s and Freddie Mac’s Financial Problems: Frequently Asked Questions
http://assets.opencrs.com/rpts/RS22916_20080715.pdf
Fannie Mae and Freddie Mac chartered by Congress as government sponsored enterprises (GSEs) and are widely believed to have an implicit guarantee from the federal government. Questions about their roles are covered by the report in light of today’s economic environment.
Governor Randall S. Kroszner
Federal Reserve's Initiatives to Support Minority-Owned Institutions and Expand Consumer Protection
Remarks to Minority Depository Institutions National Conference, Chicago, Illinois - July 17, 2008
http://www.federalreserve.gov/newsevents/speech/kroszner20080717a.htm
“I am delighted to be here to participate in today's discussion about how we can work together to foster and preserve the strength and vitality of minority depository institutions. These institutions serve essential roles. Most important, they extend credit…to businesses and individuals in neighborhoods that otherwise may not have ready access to loans. They also foster a spirit of entrepreneurship in their communities… I will focus on two important Federal Reserve initiatives. First, I will update you on our new Partnership for Progress program, which is designed to foster and support minority-owned and de novo depository institutions. Second, I plan to discuss the recent finalization of significant Federal Reserve rules implementing certain provisions of the Home Ownership and Equity Protection Act.”
Larry D. Wall, Alan K. Reichert, and Hsin-Yu Liang
The Final Frontier: The Integration of Banking and Commerce
Part 1: The Likely Outcome of Eliminating the Barrier
Federal Reserve Bank of Atlanta - Economic Review - Vol. 93, No. 1, 2008 – Webposted July 2008 - 18 pages
http://www.frbatlanta.org/filelegacydocs/er08no1_wall.pdf
“The policy debate on whether to strengthen or to remove the legal barriers between banking and commerce has paid little attention to what the practical effects of removing the barriers would be. To help answer this question, this article, the first part of a two-part study, provides an overview of the potential gains of integrating banking and commerce.”
Securities Class Action Litigation: The problem, its impact and the path to reform
U.S. Chamber Institute for Legal Reform – Report - July 2008 – 56 pages
http://www.instituteforlegalreform.com/issues/docload.cfm?docId=1213
“Private securities class action lawsuits present a serious threat to the health of U.S. businesses, the prosperity of American families and the strength of our nation's global competitiveness.. Driven by the multibillion dollar plaintiffs' lawyer industry, the system exacts enormous costs on our economy while betraying the individual investors it is designed to assist." The report suggests a number of potential legislative changes.
Peter Tufano and Daniel Schneider
Using Financial Innovation to Support Savers: From Coercion to Excitement
Harvard Business School - Working Paper - Web posted July 3, 2008 – 59 pages
http://www.hbs.edu/research/pdf/08-075.pdf
The paper shows the wide range of solutions to the problem of low family savings. Families save for a wide variety of purposes, including education, retirement, and others like rainy days or emergencies. Given societal pressures to consume, and given the diversity among people, there is no single solution to the savings problem. A wide variety of programs that support savings by families, in particular by low- and moderate-income families are reviewed. These programs range from ones that literally compel families to save, to those that make it hard not to save, make it easier to save, provide financial incentives to induce savings, leverage social networks to support savers, and finally, to programs that excite people to saving.
Senate Committee on Banking – Hearing – July 15, 2008
http://banking.senate.gov/public/index.cfm?Fuseaction=Hearings.Detail&HearingID=8f6a9350-3d39-43a0-bbfb-953403ab19cc
Witnesses:
Henry M. Paulson , Jr., Secretary of the Treasury
Ben S. Bernanke , Chairman, Board of Governors of the Federal Reserve System
Christopher Cox , Chairman, Securities and Exchange Commission
Systemic Risk and the Financial Markets (1)
US House of Representatives - Committee on Financial Services – Hearing - July 10, 2008
http://www.house.gov/apps/list/hearing/financialsvcs_dem/hr071008.shtml
Treasury Secretary Henry Paulson and Federal Reserve Board Chairman Ben Bernanke appeared at the first of a series of hearings on the policy implications of the transformation of domestic and international financial markets, with a primary focus on the rise of potential systemic risk associated with the dramatic growth in the share of assets held outside the commercial banking system, the complex arrangements that link firms that are regulated differently (or not at all) and the increasing amount of leverage.
Systemic Risk and the Financial Markets (2)
US House of Representatives - Committee on Financial Services – Hearing - July 24, 2008
http://www.house.gov/apps/list/hearing/financialsvcs_dem/hr072408.shtml
This is the second in a series of hearings on the policy implications of the transformation of domestic and international financial markets. Witnesses for this hearing are New York Federal Reserve President Timothy Geithner, S.E.C. Chairman Christopher Cox.
Speculative Bubbles and Overreaction to Technological Innovation
FRB San Francisco - Economic Letter - June 20, 2008 – 4 pages
http://www.frbsf.org/publications/economics/letter/2008/el2008-18.pdf
“This Economic Letter examines some historical links between speculative bubbles, technological innovation, and capital misallocation.”
William R. Emmons FRB St. Louis - Regional Economist – Article - July 2008
The Mortgage Crisis: Let Markets Work, but Compensate the Truly Needy
http://www.stlouisfed.org/publications/re/2008/c/pages/mortgage.html
Recent mortgage-foreclosure rates are the highest since the 1930s.[1] Yet, large-scale government interventions directly in housing or mortgage markets—such as government purchases of delinquent mortgages or vacant houses, involuntary mortgage modifications, or outright mortgage-foreclosure bans—are not necessarily the best policy responses. From the perspective of maximizing long-run economic efficiency, it would be better to allow housing and mortgage markets to sort themselves out, as painful as that may be. Politicians can decide whether and how to help those who were made truly needy by this crisis.
N. Eric Weiss :Congressional Research Service, Library of Congress. Web posted July 21, 2008 – 6 pages
Fannie Mae’s and Freddie Mac’s Financial Problems: Frequently Asked Questions
http://assets.opencrs.com/rpts/RS22916_20080715.pdf
Fannie Mae and Freddie Mac chartered by Congress as government sponsored enterprises (GSEs) and are widely believed to have an implicit guarantee from the federal government. Questions about their roles are covered by the report in light of today’s economic environment.
Governor Randall S. Kroszner
Federal Reserve's Initiatives to Support Minority-Owned Institutions and Expand Consumer Protection
Remarks to Minority Depository Institutions National Conference, Chicago, Illinois - July 17, 2008
http://www.federalreserve.gov/newsevents/speech/kroszner20080717a.htm
“I am delighted to be here to participate in today's discussion about how we can work together to foster and preserve the strength and vitality of minority depository institutions. These institutions serve essential roles. Most important, they extend credit…to businesses and individuals in neighborhoods that otherwise may not have ready access to loans. They also foster a spirit of entrepreneurship in their communities… I will focus on two important Federal Reserve initiatives. First, I will update you on our new Partnership for Progress program, which is designed to foster and support minority-owned and de novo depository institutions. Second, I plan to discuss the recent finalization of significant Federal Reserve rules implementing certain provisions of the Home Ownership and Equity Protection Act.”
Larry D. Wall, Alan K. Reichert, and Hsin-Yu Liang
The Final Frontier: The Integration of Banking and Commerce
Part 1: The Likely Outcome of Eliminating the Barrier
Federal Reserve Bank of Atlanta - Economic Review - Vol. 93, No. 1, 2008 – Webposted July 2008 - 18 pages
http://www.frbatlanta.org/filelegacydocs/er08no1_wall.pdf
“The policy debate on whether to strengthen or to remove the legal barriers between banking and commerce has paid little attention to what the practical effects of removing the barriers would be. To help answer this question, this article, the first part of a two-part study, provides an overview of the potential gains of integrating banking and commerce.”
Securities Class Action Litigation: The problem, its impact and the path to reform
U.S. Chamber Institute for Legal Reform – Report - July 2008 – 56 pages
http://www.instituteforlegalreform.com/issues/docload.cfm?docId=1213
“Private securities class action lawsuits present a serious threat to the health of U.S. businesses, the prosperity of American families and the strength of our nation's global competitiveness.. Driven by the multibillion dollar plaintiffs' lawyer industry, the system exacts enormous costs on our economy while betraying the individual investors it is designed to assist." The report suggests a number of potential legislative changes.
Peter Tufano and Daniel Schneider
Using Financial Innovation to Support Savers: From Coercion to Excitement
Harvard Business School - Working Paper - Web posted July 3, 2008 – 59 pages
http://www.hbs.edu/research/pdf/08-075.pdf
The paper shows the wide range of solutions to the problem of low family savings. Families save for a wide variety of purposes, including education, retirement, and others like rainy days or emergencies. Given societal pressures to consume, and given the diversity among people, there is no single solution to the savings problem. A wide variety of programs that support savings by families, in particular by low- and moderate-income families are reviewed. These programs range from ones that literally compel families to save, to those that make it hard not to save, make it easier to save, provide financial incentives to induce savings, leverage social networks to support savers, and finally, to programs that excite people to saving.
jeudi 12 juin 2008
GROWTH
American Decline or Renewal? – Globalizing Jobs and Technology
House Science and Technology Committee – Hearing – May 22, 2008
http://science.house.gov/publications/hearings_markups_details.aspx?NewsID=2199
"No longer can we in good conscience escape the question: What do we do about the offshoring of American jobs?... Subcommittee Members expressed the importance of federal funding to cultivate American innovation and stimulate the economy here. Witnesses testified about the role and responsibilities of corporations, the relationship between the state and the market, and the ability of technological innovation to ensure our country’s economic prosperity in the absence of changes in the trading system. Members questioned witnesses from domestic firms regarding the cost of producing at home under the current trading system and requested their suggestions as to what the federal government could do to improve this system.”
Wing Thye Woo
Inflation amidst Recession: Policy Prescriptions for Sustaining Stable Growth
The Brookings Institution – Paper - May 14, 2008
http://www.brookings.edu/opinions/2008/0514_inflation_woo.aspx?emc=lm&m=215615&l=51&v=252043
“If the U.S. cannot achieve the international cooperation required for effective financial supervision to alleviate the present stagflation, it is highly improbable that the U.S. can achieve the international cooperation to prevent the worse stagflation created by climate change. The next president must be a strong consensus builder at home and abroad in order to effectively address these numerous challenges.”
Brian W. Cashell and Marc Labonte
Understanding Stagflation and the Risk of Its Recurrence
Congressional Research Service - Library of Congress - Web posted April 28, 2008 - 17 pages
http://assets.opencrs.com/rpts/RL34428_20080331.pdf
The slowing of economic growth and the rising rate of inflation have given rise to concerns that the U.S. economy is at risk of an episode of stagflation. Stagflation describes an economy that is characterized by high rates of both unemployment and inflation. The term came into popular use in the 1970s to describe the economy at that time. Even though recent unemployment and inflation rates are not nearly as high as they were in the 1970s, some economists fear that the recent expansion in monetary and fiscal policy at a time when unemployment is low but rising and energy prices are rising, could lead to a new bout of stagflation in the near future.
Marc Labonte
Evaluating the Potential for a Recession In 2008
Congressional Research Service - Library of Congress – Report - May 13, 2008 – 24 pages
http://assets.opencrs.com/rpts/RL34484_20080513.pdf
“The U.S. economy has faced some bad news lately… A look at the available data suggests that economic growth has slowed considerably, but it is too soon to tell if the economy has entered a recession. Recessions are defined as prolonged and sustained declines in economic activity, so by definition, a persistent downturn cannot be identified until it has persisted. Given the lags between policy changes and their effects on the economy, the economy has not yet felt the full impact of the stimulus package and the Federal Reserve’s actions. Therefore, it is still too early to tell.”
mercredi 4 juin 2008
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