The Incidence of the Border Tax – EU Multinationals Win, US Multinationals Lose

The Incidence of the Border Tax – EU Multinationals Win, US Multinationals Lose

  photo: GotCredit The destination based cash flow tax (DBCFT) with border tax adjustment (BTA) as outlined in the so-called Ryan blueprint[1] (named after its main proponent Rep. Paul Ryan) is perhaps the most exciting policy proposal of the last decade – and it is certainly the least understood. There is a wide variety of contradictory […]

The Role of Fiscal Policy When Private Debt is High

The Role of Fiscal Policy When Private Debt is High

  photo: familytreasures Excessive private debt is a major headwind against the global recovery. Where fiscal space is available, a more active role of fiscal policies can facilitate an orderly private deleveraging while minimizing its output costs. However, fiscal policy cannot do it alone; it has to be supported by complementary policies within credible frameworks. Globally, […]

Inaction on Healthcare Prices is the Fatal Flaw that Dooms the ACHA to Failure

Inaction on Healthcare Prices is the Fatal Flaw that Dooms the ACHA to Failure

photo: Tax Credits Republican reformers have repeatedly promised affordable healthcare for all Americans — doubly affordable, in fact. They promise to put premiums and out-of-pocket costs within reach of low- and middle-income consumers, and at the same time, that the plan will be affordable to the federal budget, even given the constraints their most conservative members […]

Why Would Anyone Want to Make the US More Like Europe?

Why Would Anyone Want to Make the US More Like Europe?

photo: Moyan Brenn The idea that Democrats want to make America more like Europe is a favorite Republican attack line. Writing in The New York Times, David Brooks expresses amazement that so many millennials are supporting Bernie Sanders, an open admirer of the European model. Why would anyone in their right mind favor “sluggish” Europe over “vibrant” […]

What Can the U.S. Learn from Big Government in Sweden and Denmark?

What Can the U.S. Learn from Big Government in Sweden and Denmark?

photo: Artiom P Leaders of the Democratic Party in the United States have moved to the left of the political spectrum (Wall Street Journal). Bernie Sanders, who describes himself as a democratic socialist, has mounted a successful campaign against Hillary Clinton. He has identified Denmark and Sweden as examples of countries with larger government sectors that […]

Productivity and Financial Inclusion: A Response to the Economic Slowdown

Productivity and Financial Inclusion: A Response to the Economic Slowdown

photo: Mckay Savage  How are financial inclusion and productivity linked? And why are these two pieces of the puzzle important for the economic development of Latin America and the Caribbean? Insufficient growth in productivity has been identified as a key factor in the relative backwardness of the economy of Latin America and the Caribbean compared with […]

The Uncertain Prospects of Hasty and Premature Criticisms of Argentina’s Economic Policies

The Uncertain Prospects of Hasty and Premature Criticisms of Argentina’s Economic Policies

photo: Taylor White Nobel Prize economist Joseph Stiglitz and coauthor Martin Guzman (from now SG) had just written a piece on Argentina, entitled “Argentina’s Uncertain Prospects” focusing on the early economic policies and potential scenarios for the government of the newly elected President Mauricio Macri. In my opinion, the article paints an excessively gloomy picture of […]

President Xi in the Middle East: From U.S. Regime Change to Chinese Economic Development

President Xi in the Middle East: From U.S. Regime Change to Chinese Economic Development

photo: thierry ehrmann President Xi Jinping’s three-nation tour in the Middle East heralds a shift from US regime change to Chinese economic development. President Xi’s tour took place amid a perilous moment in the region. Saudi Arabia is struggling with the plunge of oil prices, rapidly rising debt and a war against Yemen. In Egypt, opposition […]

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