Research and Commentary
Karen Dynan, October 29, 2009
The Outlook for Consumer Spending and the Broader Economic Recovery
How long will the economic recovery take? Karen Dynan testified before the Joint Economic Committee that there is a great deal of uncertainty about the strength and speed of the nation’s recovery, with gradual expansion being the most likely economic scenario. She says that consumer spending is likely to grow modestly over the next few years because of weak income growth, higher saving and lower borrowing. Policymakers have options to bolster the recovery but they should be mindful of the long-run costs, particularly in terms of the budget deficit, she says. Read More
U.S. Economy, U.S. Economic Growth
RESEARCH AND COMMENTARY
Bruce Katz and Robert Puentes, November 20, 2009, The Hill
With rising concern about the nation’s anemic job numbers, infrastructure has emerged as a centerpiece of a number of proposed “jobs bills.” In a Hill op-ed, Bruce Katz and Robert Puentes point out that infrastructure is not necessarily a cure-all and outline the federal leadership and strategies necessary for successful investment in the way we move goods, people and power. Read More
VIDEO
Robert E. Litan, November 19, 2009
The economy is showing some bright spots, but rising unemployment, weak consumer spending and the housing market continue to be concerns. Robert Litan examines the state of the economy and offers insights into job creation and entrepreneurship, the possibility of a “double dip” recession and higher capital requirements for lending institutions.
PAST EVENT
Thursday, November 19, 2009
9:00 AM to 11:45 AM
Washington, DC
The current economic crisis is not only a national crisis; it is also a metropolitan crisis. And soon the downturn will bring a local government fiscal crisis. On November 19, the Brookings Metropolitan Policy Program and the National League of Cities co-hosted a forum on city fiscal conditions, the responses being undertaken by creative mayors, and the implications for national economic recovery. Read More
RESEARCH AND COMMENTARY
Ted Gayer, November 19, 2009, The Brookings Institution
The housing market, thought to finally be stabilizing, took a surprising tumble with new-home starts dropping 10.6% in October from the previous month. Ted Gayer writes that those expecting the recently extended and expanded homebuyer tax credit to improve this situation are likely to be disappointed, and that the credit may be unintentionally weakening the rental market. Read More
PAST EVENT
Wednesday, November 18, 2009
12:30 PM to 1:30 PM
Washington, DC
What stands in the way of recovery? On Wednesday, November 18, Alan Berube and Politico Senior Editor David Mark answered questions in a live web chat about how the nation’s large metropolitan areas—including Washington, DC—have fared in the downturn. Read More
RESEARCH AND COMMENTARY
Mark Muro and Christopher W. Hoene, November 18, 2009, The Brookings Institution
The current economic crisis is not only a national crisis; it is also a metropolitan crisis; and it will soon become a local government fiscal crisis. In this framing report, Mark Muro and Christopher Hoene assert the importance of local government fiscal conditions to national economic performance, survey current and projected fiscal conditions, review implications for economic recovery, and offer a menu of federal policy options to help minimize city layoffs and service cuts that could harm the economy. Read More
RESEARCH AND COMMENTARY
Barry P. Bosworth and Rosanna Smart, November 18, 2009, Center for Retirement Research at Boston College
Barry Bosworth and Rosanna Smart explore the consequences of the housing price bubble and its collapse for the wealth of older households, utilizing micro survey data to follow the rise in home values to 2007 and observing which households enjoyed home price appreciation and how they responded in terms of equity withdrawal. The authors conclude that while older households mitigated their real estate and equity losses with relatively stable fixed-value assets and pension programs, they also lost much of their presumed gains relative to earlier cohorts, and they will have less time to recover. Read More
RESEARCH AND COMMENTARY
Alan Berube, November 18, 2009, The Brookings Institution
What stands in the way of recovery? On Wednesday, November 18, Alan Berube and Politico Senior Editor David Mark answered questions in a live web chat about how the nation’s large metropolitan areas—including Washington, DC—have fared in the downturn. Read More
VIDEO
Mark Muro, November 16, 2009
Despite reports that the economy is recovering from the recession, there will likely be large-scale city government layoffs, deep cuts to local government services and halted or delayed capital projects in the next year or two. Mark Muro, policy director of the Metropolitan Policy program, explains economic cycles and their impact on city and local governments.
VIDEO
Karen Dynan and Alan Berube, November 15, 2009
Despite the economy’s expansion last quarter, many American workers still lack jobs, the confidence to spend money or a home to call their own. Brookings scholars have been tracking data on various dimensions of national and international well-being since early this year. Karen Dynan and Alan Berube examine the findings in the second Brookings “How We’re Doing” Index.
RESEARCH AND COMMENTARY
Karen Dynan, Ted Gayer and Alan Berube, November 15, 2009, The Brookings Institution
Despite the economy’s expansion in the last quarter, many American workers still lack jobs, the confidence to spend or a home to call their own. A team of Brookings experts began tracking data early this year to assess various dimensions of national and international well-being. The second quarterly "How We’re Doing" index looks at forces that stand in the way of a strong rebound and asks, "where are we going?" Read More
RESEARCH AND COMMENTARY
Christopher B. Leinberger, November 13, 2009, The Brookings Institution
The Senate Environment and Public Works Committee's climate change bill ignores the demand side of the equation which focuses on changing the built environment—the nations’ buildings and transportation systems, says Christopher Leinberger. He calls for policy that promotes demand mitigation measures so more Americans will use less energy and emit less greenhouse gases where they live, work and recreate. Read More
PAST EVENT
Wednesday, November 11, 2009
12:30 PM to 1:30 PM
Washington, DC
President Obama approved the expansion and extension of the homebuyer tax credit initially approved as part of the economic stimulus package. While this move is intended to spur home sales, many experts argue that extending the tax credit is bad policy. On Wednesday, November 11, Ted Gayer and Politico Senior Editor Fred Barbash will be online to answer your questions about the homebuyer tax credit in a live web chat. Read More
RESEARCH AND COMMENTARY
Ted Gayer, November 11, 2009, The Brookings Institution
On Wednesday, November 11, Ted Gayer and Fred Barbash participated in a live web chat on the extended homebuyer tax credit, debating whether or not President Obama should have let it expire. Read More
RESEARCH AND COMMENTARY
Eswar Prasad and Grace Gu, November 11, 2009, The Brookings Institution
While the economic entanglements between the U.S. and China have increased over the last decade, so has the tension. With President Obama visiting China and other Asian nations, Brookings expert Eswar Prasad and Grace Gu of Cornell University discuss the tightening embrace between the two countries—in terms of flows of goods and services, financial capital and people—and the implications. Read More