Drs. Facker and McMillin present evidence that a path target for NGDP may be preferable to a path target for the price level. In addition, they also find that the NGDP path target would have been superior to a continuation of the implicit FIT policy pursued by the Fed before and after the Great Recession.
The Institute for the Study of Free Enterprise is dedicated to understanding the role that markets play in the economy and in society. The Institute’s mission is to generate intellectually rigorous research and an open dialogue to discover and understand how free enterprise affects peoples’ lives and the well-being of society.
Sun-Ki Choi & John Garen
We find that federal workers were consistently paid more than comparable private-sector workers throughout the 1995 to 2017 time period. Moreover, federal works had higher pension and health insurance coverage. For 2017, we estimate that federal workers were paid 12.5% more.
This study finds a decades-long, substantial rise in national educational funding but only very modest increases in test scores. These imply that productivity, as measured by test score points per dollar of funding, has steadily decreased.
Igor Cunha, Miguel A. Fereira and Rui C. Silva
We show that credit rating agencies can have a significant effect on election outcomes. We identify these effects by exploiting exogenous variation in municipal bond ratings due to Moody’s recalibration of its scale in 2010.
In response to the ongoing discussion in the literature of the appropriate framework for monetary policy, we compare two of the most frequently discussed alternatives to inflation targeting—targeting either the level of nominal GDP or the price level—within the context of a simple vector autoregr
Technological innovation is a key driver of economic growth.
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Curious about the impact on menu labeling laws? Check out what Dr. Yelowitz says about this law in the CQ Researcher.
This report examines the National Assessment of Educational Progress (NEAP) test scores for Kentucky students for the roughly 25-year time span from the 1990s forward, as well as changes in funding (inclusive of state, local, and federal) of K-12 in the Commonwealth during that period. Changes in the racial gap in test scores are also examined, along with the gap between the scores of students from low-income families and students from other families.