Par Sylvie Vacheret, Specialiste Economie des Etats-Unis - Extraits 




Economic Prospects, Policy, and Potential

Federal Reserve Bank of Atlanta – Remarks - January 8, 2018


“Atlanta Fed president and CEO Raphael Bostic offers his economic outlook in a speech to the Rotary Club of Atlanta on January 8, 2018. He also addresses the income mobility of residents in the Southeast.”


William A. Strauss and Thomas Haasl

Economic Outlook Symposium: Summary of 2017 results and 2018 forecasts

FRB Chicago – Fed Letter – January 2018 – 7 pages


“According to participants in the Chicago Fed’s annual Economic Outlook Symposium, the U.S. economy is forecasted to grow at a pace slightly above average in 2018, with inflation moving up a little and the unemployment rate remaining low.”




Josh Bivens

Inequality Is Slowing US Economic Growth - Faster Wage Growth for Low- and Middle-Wage Workers Is the Solution         

Economic Policy Institute - Report • By • December 12, 2017 – 28 pages


“Economic observers have become increasingly worried about “secular stagnation”—a chronic shortfall of aggregate demand—fearing that this shortfall will constrain American economic growth in the years ahead. In a new paper, EPI Research Director Josh Bivens argues that the problem of secular stagnation can be solved, in part, by addressing income inequality. “For the past decade, the primary constraint on economic growth has been too-slow spending by households, businesses, and governments,” says Bivens. “There is clear evidence that raising wages for the vast majority would jump-start economic growth by boosting growth in aggregate demand.”


James Pethokoukis

Inequality and Poverty in the US: A long-read Q&A with Bruce Meyer

AEI – AEIdeas – January 2, 2018


“Have poverty levels and inequality in the US soared over the past quarter century, or are we just looking at them through the wrong lens? I discussed this recently with economist Bruce Meyer, a leading researcher in these fields. We also covered the earned income tax credit, how government can held reduce poverty, and more. Bruce Meyer is a visiting scholar here at AEI, a professor at the University of Chicago’s Harris School of Public Policy, and a fellow at the National Bureau of Economic Research.”


Neil McCulloch

A New Year’s Resolution to Address Wage Inequality in Firms

Brookings – Future Development - January 8, 2018


Why not start simply with the publication of wage inequality figures? That only requires a set of guidelines and a spreadsheet. That simple measure would enable us all to see just how bad (or good) the problem of wage inequality is and could simulate a debate about how to provide firms with real incentives for addressing it. And that would be a New Year’s resolution worth keeping.


Atlanta Fed Explores Rural-Metro Economic Divide

FRB Atlanta – Economy Matters - December 14, 2017


“Economic growth is not always spread evenly across a region. This article looks at some of the factors creating such disparities in the Southeast and potential remedies.”




Molly F. Sherlock and Donald J. Marples

The Federal Tax System for the 2017 Tax Year

Congressional Research Service – Report - December 26, 2017 - 29 pages


“This report reflects the tax system as in effect in 2017. H.R. 1, the 2017 tax revision, as passed in both the House and Senate, substantially modifies the federal tax system. The purpose of this report is to review the federal tax system in 2017. Any changes to the federal tax system enacted in the 115th Congress will be explored in subsequent reports and other CRS products.”


Estimated Deficits and Debt Under the Conference Agreement of H.R. 1

Congressional Budget Office – January 2, 2018


“This letter responds to your request for information about the estimated deficits and debt under the Conference Agreement of H.R. 1 as filed by the Conferees on December 15, 2017. CBO and the staff of the Joint Committee on Taxation determined that provisions in the Conference Agreement would increase deficits over the 2018-2027 period by $1.5 trillion (not including any macroeconomic effects). By CBO’s estimate, additional debt service would boost the 10-year increase in deficits to $1.8 trillion. As a result of those higher deficits, debt held by the public would increase from the 91.2 percent of gross domestic product in CBO’s June 2017 baseline to 97.5 percent.”


Gary Burtless

Drop in Public Investment Picks Up Steam Under GOP Tax Plan

Brookings – Up Front - December 6, 2017


“Since 2008, government investment in nondefense spending—including education, transportation infrastructure, and health care research—has seen a significant decline. With over $1 trillion added to the deficit under the Republican tax reform plan, public investment in America’s future is likely to drop even further.”


Aaron Klein

How the New Tax Bill Will Cut Infrastructure Investment

Brookings – Up Front - December 26, 2017


“By increasing the cost to finance infrastructure for states and local governments, the recently enacted Tax Cuts and Jobs Act (TCJA) will lower investment in our nation’s infrastructure. This runs counter to President Trump’s repeated desire to tackle the major problems associated with America’s crumbling infrastructure through increased investment. The impact may be large and immediate enough to swamp the short-term impact of any infrastructure package Congress can put together in the immediate future.”


Territorial Taxation: Choosing Among Imperfect Options

AEI – Economic Perspectives – December 2017 – 8 pages


Eric Toder argues that both territorial and worldwide systems for taxing income of multinational companies are difficult to implement because the concepts of income source and corporate residence on which the systems are based have become less economically meaningful. He argues that the recent tax-restricting bills enacted by Congress move toward a territorial tax system by eliminating the taxation of repatriated dividends paid to US parent companies from the future profits of their foreign affiliates.”




Michael Ng and David Wessel

The Hutchins Center Explains: The framework for monetary policy

Brookings - January 4, 2018


“What is the Federal Reserve’s mandate? Since 1977, Congress has charged the Fed with pursuing “maximum employment” and “stable prices.” The definition of those terms is left to the Fed. Here’s a look at how the Fed has defined the terms “maximum employment” and “price stability” over the years.”


Marc Labonte

Monetary Policy and the Federal Reserve: Current Policy and Conditions

Congressional Research Service – Report - January 9, 2018 - 23 pages


“Congress has delegated responsibility for monetary policy to the nation’s central bank, the Federal Reserve (the Fed), but retains oversight responsibilities for ensuring that the Fed is adhering to its statutory mandate of “maximum employment, stable prices, and moderate long-term interest rates.” To meet its price stability mandate, the Fed has set a longer-run goal of 2% inflation.”




Martin Neil Baily and Aaron Klein

Biggest Financial Regulation Stories of 2017, and What to Watch in 2018

Brookings – Report - December 14, 2017


“Donald Trump’s surprise victory led to expectations for massive changes in financial regulation to happen quickly. As a candidate, Trump had promised to ‘do a number’ on Dodd-Frank. His Administration began with a series of executive orders on financial regulation and with a Republican controlled Congress, deregulation was a front burner issue. A year into the Trump Administration, Dodd-Frank has not been significantly altered in law or implementation. Instead, it appears that 2017 mostly served to set up 2018 as the year of action.”


Larry D. Wall

Financial Regulation: Fit for the Future?

FRB Atlanta - Notes from the Vault - December 2017


“The end of 2017 seems an appropriate time to look back at the many regulatory changes adopted in the decade since the financial crisis. With that in mind, the Atlanta Fed recently hosted the workshop Financial Regulation: Fit for the Future?, which was cosponsored by the Center for the Economic Analysis of Risk at Georgia State University. This post reviews many of the papers and presentations from the workshop dealing with a variety of regulatory policy issues. Two upcoming macroblog posts will review the papers and presentations that focus on discretionary macroprudential policies and the regulation of fintech (new technologies applied to finance).”


Marc Labonte and David W. Perkins

Bank Systemic Risk Regulation: The $50 Billion Threshold in the Dodd-Frank Act

Congressional Research Service – Report - December 6, 2017 - 42 pages


“The 2007-2009 financial crisis highlighted the problem of “too big to fail” financial institutions— the concept that the failure of a large financial firm could trigger financial instability, which in several cases prompted extraordinary federal assistance to prevent their failure. This report focuses on one pillar of the Dodd-Frank Act’s (P.L. 111-203) response to addressing financial stability and ending too big to fail: a new enhanced prudential regulatory regime that applies to all banks with more than $50 billion in assets and to certain other financial institutions. Under this regime, the Federal Reserve is required to apply a number of safety and soundness requirements to large banks that are more stringent than those applied to smaller banks.”


David W. Perkins

Tailoring Bank Regulations: Differences in Bank Size, Activities, and Capital Levels

Congressional Research Service – Report - December 21, 2017 - 33 pages


Banking organizations differ across a multitude of characteristics. The amount of assets they hold, the services they provide, and how they secure funding are just a few examples. These differences affect an individual organization’s risk of failure and the risk its failure or distress could pose to the overall financial system. Policymakers generally agree that certain banking regulations should be tailored to account for such differences, and as a result, banks are currently subject to or exempt from various regulations if they meet certain criteria. To what degree existing bank classifications adequately tailor regulation and how tailoring should be designed and implemented are debated issues.”


Aleksander Berentsen and Fabian Schar

A Short Introduction to the World of Cryptocurrencies

FRB Saint Louis – Economic Review – January 2018 – 16 pages


“In this article, we give a short introduction to cryptocurrencies and blockchain technology. The focus of the introduction is on Bitcoin, but many elements are shared by other blockchain implementations and alternative cryptoassets. The article covers the original idea and motivation, the mode of operation and possible applications of cryptocurrencies, and blockchain technology. We conclude that Bitcoin has a wide range of interesting applications and that cryptoassets are well suited to become an important asset class.”



Rebecca Lewis, John McPartland, and Rajeev Ranjan

Blockchain and Financial Market Innovation

Chicago Fed – Economic Perspectives 7/2017 – 13 pages


“While all are in the early stages of development, there are many promising applications of blockchain technology in financial markets. The bitcoin ecosystem represents the largest implementation of blockchain technology to date.2 Interest in the technology continues to grow in the financial technology and broader financial services communities. In this article, we provide a brief overview of what blockchain technology is, how it works, and some potential applications and challenges.”


Thomas Mertens, Patrick Shultz, and Michael Tubbs

Valuation Ratios for Households and Businesses

FRB San Francisco -Economic Letter - January 8, 2018      - 5 pages


“Current valuation ratios for U.S. equities and household net worth are high relative to historical benchmarks. The cyclically adjusted price-to-earnings ratio reached its third highest level on record recently, and the ratio of household net worth to disposable income, which includes a broad set of household assets, stands at a record high. Such extreme values of these ratios have historically been followed by reversions toward their long-run averages. However, other current factors, such as low interest rates, caution against bearish forecasts.”




Daniel Raimi and Richard G. Newell

Local Fiscal Effects of a Drilling Downturn: Local Government Impacts of Decreased Oil and Gas Activity in Five US Shale Regions

Resources for the Future – Report – December 20, 2017 – 67 pages

www.rff.org/files/document/file/RFF Rpt-SPF.pdf

After a downturn in drilling, most local governments in Colorado, North Dakota, Pennsylvania, and Texas continue to benefit from oil and gas development.




Immigrant Founders of the 2017 Fortune 500

Center for American Entrepreneurship – Report – December 2017


“CAE’s analysis found that 43 percent of the 2017 Fortune 500 were founded or co-founded by an immigrant or the child of an immigrant.  The analysis also found that the occurrence of first- or second-generation immigrant founders is significantly higher among the largest Fortune 500 companies – accounting for 52 percent of the top 25 firms and 57 percent of the top 35 firms. Immigrant-founded Fortune 500 firms are headquartered in 68 metropolitan areas across 33 states, employ 12.8 million people worldwide, and accounted for $5.3 trillion in global revenue in 2016.”


Bridging the Entrepreneurial Gap: Addressing Barriers to Small Business Formation and Growth

House Small Business Committee – Hearing - December 11, 2017


“This hearing will examine federal regulations that inhibit entrepreneurs and provide Subcommittee Members an opportunity to learn about the current barriers to entrepreneurship.  It will also examine potential solutions to these challenges and methods utilized by entrepreneurs to achieve prosperity, such as capitalizing on emerging industries and fostering innovation.”


Andy Polacek

Reinvesting After the Crisis: Changes in the Fixed-Income Portfolios of Life Insurers

FRB Chicago – Fed Letter – January 2018 – 8 pages


“The years following the Great Recession presented a unique set of challenges for life insurers even as the U.S. economic recovery began to gain momentum. Between the financial crisis in 2008 and the end of 2016, life insurers’ policyholder liabilities grew 25%, from $2.6 trillion to $3.2 trillion, while their preferred investment habitat, the fixed-income securities market (excluding Treasury securities), grew by only 3%, from $22.0 trillion to $22.1 trillion.”


Mark Muro, Jacob Whiton, and Sifan Liu

Online Giants Must Accept Responsibility for Impacts on the Physical World

Brookings - The Avenue - January 8, 2018


“Rather, government and society should push back against tech’s spatial default pattern and insist on pushing back against negative outcomes. In our recent piece, we suggest dozens of potential policy initiatives, but their specifics are not the point. What really matters now is for Big Tech, society, and the public sector each to realize the link of tech to geographical (as well as labor market) disparities—and begin thinking about what to do about it.”




Robert D. Atkinson

Industry Funding of University Research: Which States Lead?

Information Technology & Innovation Foundation – Report – January 2018 – 8 pages


“Industry’s role in funding university research is a key driver of academic discovery and industrial innovation—especially as federal funding declines and companies cut back on basic, intramural research. But states vary dramatically on the extent to which their research universities attract industry support, and that is partly due to policy and administrative choices. States should take heed, because there are clear links between industry research funding and tech-based economic activity.”


Marcy E. Gallo

Federally Funded Research and Development Centers: Background and Issues for Congress

Congressional Research Service – Report - December 1, 2017 - 21 pages


“The federal government supports research and development (R&D) that is conducted by a wide variety of performers, including federally owned and operated laboratories, universities, private companies, and other research institutions. A special class of research institutions referred to as federally funded research and development centers, or FFRDCs, are owned by the federal government, but operated by contractors, including universities, other non-profit organizations, and industrial firms. FFRDCs are intended to provide federal agencies with R&D capabilities that cannot be effectively met by the federal government or the private sector alone. FFRDCs are required to have a long-term strategic relationship with the federal agency that supports them.”


Laurie A. Harris

The National Science Foundation: FY2018 Appropriations and Funding History

Congressional Research Service – Report - December 18, 2017 - 20 pages


“The National Science Foundation (NSF) supports basic research and education in the non-medical sciences and engineering. NSF is a major source of federal support for U.S. university research, especially in certain fields such as computer science. It is also responsible for significant shares of the federal science, technology, engineering, and mathematics (STEM) education program portfolio and federal STEM student aid and support… Overall, the Trump Administration is seeking $6.653 billion for NSF in FY2018, an $819 million decrease (-11%) from the FY2017 enacted level of $7.472 billion… Overall growth in the NSF budget has slowed since FY2003.”


From Lab to Market: A Review of NSF Innovation Corps

House Subcommittee on Research and Technology - Hearing - December 6, 2017


“The purpose of today’s hearing is to review the National Science Foundation’s Innovation Corps (I-Corps) program and its goal of preparing scientists and engineers to extend their research from lab to market.  The hearing will examine the successes and challenges of the I-Corps program and the committee will hear recommendations for the future of I-Corps and its role in the innovation ecosystem.”


Jay Shambaugh Ryan Nunn Becca Portman

Eleven Facts about Innovation and Patents

Brookings – The Hamilton Project - Report – December 2017 – 28 pages


“Improvement in living standards over time is not inevitable or automatic. Rather,  it  is  made  possible  by  increases  in  physical  and  human  capital,  technological  progress  that  itself  might  require  large  investments,  and  well-designed  institutions.  In  this  set  of  eleven  economic  facts,  we  explore  central  features  of  the  innovation  system,  including  patents,  research  and  development  (R&D)  investments,  and  science,  technology,  engineering,  and  mathematics  (STEM)  education.  Following  this  analysis,  we highlight opportunities to enhance the effectiveness of the innovation system, thereby contributing to faster technological progress and economic growth.”


W. Brian Arthur

Where is Technology Taking the Economy?

McKinsey Quarterly -  Fourth Quarter 2017


“We are creating an intelligence that is external to humans and housed in the virtual economy. This is bringing us into a new economic era—a distributive one—where different rules apply.”


Digital Decision-Making: The Building Blocks of Machine Learning and Artificial Intelligence

Senate Committee on Commerce, Science, and Transportation – Hearing - December 12, 2017


“The hearing will examine the benefits of artificial intelligence (AI) in today’s digital economy, the development of algorithms powering AI, and what practices are in place or should be in place to ensure proper use of this technology.”


Stephen D. Oliner, David M. Byrne, Daniel E. Sichel

Prices of High-Tech Products, Mismeasurement, and Pace of Innovation

AEI - Working Paper - June 27, 2017 – posted December 2017 – 31 pages


“Should we conclude that mismeasurement of high-tech prices and the digital economy have no important consequences for patterns of economic growth? This paper argues that mismeasurement does matter. In particular, mismeasurement matters for the allocation and pattern of multifactor productivity (MFP) growth across sectors. To demonstrate this, we take estimates of the amount of mismeasurement of prices of high-tech products from the literature and feed these through a standard growth accounting framework to examine the implications of this mismeasurement for sectoral MFP growth.”




Edison Jakurti

Taxing the Digital Economy—It’s Complicated

Brookings – Blog - December 13, 2017


“The European Union is in the midst of intense debate about how to tax digital technology giants like Google and Amazon. Edison Jakurti discusses why it’s such a challenge and what solutions may emerge.”


Patricia Moloney Figliola

The Federal Communications Commission: Current Structure and Its Role in the Changing Tele-communications

Congressional Research Service – Report - December 15, 2017 - 19 pages


“The Federal Communications Commission (FCC) is an independent federal agency with its five members appointed by the President, subject to confirmation by the Senate. It was established by the Communications Act of 1934 (1934 Act) and is charged with regulating interstate and international communications by radio, television, wire, satellite, and cable. The mission of the FCC is to ensure that the American people have available—at reasonable cost and without discrimination—rapid, efficient, nation- and world-wide communication services, whether by radio, television, wire, satellite, or cable.”


The Internet Still Works After the Net Neutrality Repeal. Now Congress Must Act to Save It.

Brookings – TechTank – December 15, 2017


“Nicol Turner-Lee argues the Federal Communications Commission’s repeal of net neutrality last week will reinvigorate—not end—the debate over the open internet and that only Congress can find a suitable bipartisan solution.”


Angele A. Gilroy

The Net Neutrality Debate: Access to Broadband Networks

Congressional Research Service – Report - December 20, 2017 - 28 pages


“The FCC’s move to adopt the 2017 Order has reopened the debate over whether Congress should consider a measure to amend existing law to provide greater regulatory stability and guidance to the FCC. H.R. 4682, introduced on December 19, 2017, by Representative Blackburn, contains among its provisions those that prohibit blocking and throttling by broadband internet access providers and classifies broadband internet access service as an information service. Whether Congress will choose to address comprehensive legislation to amend the 1934 Communications Act, to provide a broad-based regulatory framework, remains to be seen.”


Lennard G. Kruger

Defining Broadband: Minimum Threshold Speeds and Broadband Policy

Congressional Research Service – Report - December 4, 2017 - 16 pages


“Since the initial deployment of high-speed internet in the late 1990s, broadband technologies have been deployed throughout the United States primarily by the private sector. These providers include telephone, cable, wireless, and satellite companies as well as other entities that provide commercial telecommunications services to residential, business, and institutional customers. How broadband is defined and characterized in statute and in regulation can have a significant impact on federal broadband policies and how federal resources are allocated to promote broadband deployment in unserved and underserved areas.”




Yuming Ge, Xiaoman Liu, Libo Tang, and Darrell M. West

Smart Transportation in China and the United States

Brookings – Center for Technology Innovation - December 14, 2017 – 20 pages


“In this paper, we look at several developments with the potential to turn current systems into smart transportation networks. These include intelligent infrastructure, traffic management improvements, human-machine interactive systems, vehicle safety, and security advancements. We review these innovations, examine the policy, legal, and regulatory issues associated with them, and close by making recommendations regarding ways to improve smart traffic operations. We argue that taking action on infrastructure investment, network construction, regulations and standards, privacy protection, cybersecurity, navigational systems, cloud and big data solutions, and international cooperation will yield tremendous benefits for the transportation sector.”


Freight Movement: Assessing Where We Are Now and Where We Need To Go

Senate Committee on Environment and Public Works Subcommittee on Transportation & Infrastructure – Hearing - December 20, 2017


“According to the World Economic Forum, the U.S. ranks 12th in overall infrastructure quality, and the American Society of Engineers, which we have heard several times from, scored our infrastructure as a D+ earlier this year, estimating that we need to spend close to $2 trillion in the next 10 years to improve all of our infrastructure and our overall economy. In order to address this need, in the last Congress we passed the FAST Act, which authorized $305 billion over five years… Though the FAST Act was the largest transportation authorization in a decade, we have more work to be done before we close the gap between our funding and our needs.”


Emerging Technologies in the Trucking Industry

House Committee on Infrastructure and Transportation – Background Memo – December 6, 2017


“A number of emerging trucking technologies and developments are currently being utilized or explored within the trucking industry.  These technologies have the potential to improve the safety and productivity of the industry.”




Soojin Jo, Lilia Karnizova and Abeer Reza

Industry Effects of Oil Price Shocks: Re-examination

FRB Dallas – Working Paper – December 2017 – 46 pages


“Textbook treatments of oil price shocks often emphasize negative supply effects on oil importing countries. By contrast, the seminal contribution of Lee and Ni (2002) has shown that almost all U.S. industries experience oil price shocks largely through a reduction in their respective demands. Only industries with very high oil intensities face a supply-driven reduction. In this paper, we re-examine this seminal findings using two additional decades of data. Further, we apply updated empirical methods… Our results confirm the original finding of Lee and Ni that demand effects of oil price shocks dominate in all but a handful of U.S. industries.”




Safeguarding American Agriculture in a Globalized World

Senate Committee on Agriculture – Hearing – December 13, 2018



Joseph Lieberman, Co-Chair, Blue Ribbon Study on Biodefense, Washington , D.C.

General Richard Myers, President, Kansas State University, Manhattan , KS

Dr. Raymond Hammerschmidt, Professor of Plant, Soil and Microbial Sciences, Michigan State University

Dr. R.D. Meckes, State Veterinarian, North Carolina Department of Agriculture and Consumer Services, Raleigh , N.C.


Philip G. Pardey and Vincent H. Smith

Waste Not, Want Not: Transactional politics, research and development funding, and the US farm bill

AEI – Report - December 2017 – 17 pages


“The hard-nosed economic evidence is compelling. Failing to realign farm bill spending priorities and revive spending on (publicly performed) food and agricultural R&D will continue to compromise the productivity performance of US agriculture and undermine the sector’s competitive position in growing but highly contested international markets. In contrast, realigning public funding for agricultural programs toward agricultural R&D, along with creative programs that increase incentives for private support of public interest focused on agricultural research, would benefit US agriculture, the US economy, and US consumers.”


Robert Hoppe

America’s Diverse Family Farms: 2017 Edition

USDA – Economic Research Service - December 2017 – 13 pages


99% of U.S. farms are family farms, accounting for 90% of production. Small family farms make up 90% of all farms and operate over half of farmland. Still, large family farms accounted for the largest share of farm production, 45%, in 2016.”


Anton Bekkerman, Eric J. Belasco, and Vincent H. Smith

Where the Money Goes: The Distribution of Crop Insurance and Other Farm Subsidy Payments

AEI – Report - January 2018 – 17 pages


“This study examines the distribution of Agricultural Risk Coverage (ARC) and Price Loss Coverage (PLC) program payments and crop insurance subsidy payments among US farms… The results of the analysis indicate that farms in the top 10 percent of the crop sales distribution received approximately 68 percent of all crop insurance premium subsidies in 2014 and that farms in the top 2 percent receive approximately $50 per acre in crop insurance subsidies, more than four times higher than the average per-acre subsidy of $12.28. In addition, farms in the top 20 percent of the crop sales distribution received more than 82 percent of ARC and PLC payments in 2015. Farms in the top 5 percent of crop sales received close to the total amount of ARC and PLC payments ($299 million) received by farms in the lowest 90 percent of crop sales ($358 million).”


Sam Bloch

2017's Natural Disasters Cost American Agriculture Over $5 Billion

The New Food Economy – December 2017


“Over a period of 10 months in 2017, America experienced 16 separate, billion-dollar weather and climate-related disasters. Those weather events carved paths of destruction straight through some of the most fertile and productive regions of the country, wreaking havoc on beef cattle ranches in Texas, soaking cotton and rice farms in Louisiana, orange groves in Florida, and burning up vineyards in California. And that was all before Southern California’s still-active Thomas fire, which began on December 4, and then closed in on the country’s primary avocado farms. It’s now the state’s largest-ever, in terms of total acreage.”


Annemarie Kuhns and Michelle Saksena

Food Purchase Decisions of Millennial Households Compared to Other Generations

USDA – Economic Research Service - December 2017 – 57 pages


“Millennials devote more of their food budget to categories dominated by ready-to-eat foods, spend less money on food at home, and make fewer trips to the grocery store than other generations.”




Alison Burke

10 Facts About American Women in the Workforce

Brookings Now - December 5, 2017




Rethinking the Workplace: Flexibility, fairness, and enlightened automation

McKinsey Quarterly - Interview – November 2017



“What sort of workplace should we expect in the future? How will automation affect jobs? How benign is the so-called gig economy? And what will it take for governments and companies to create “better” work? James Manyika, chair of the McKinsey Global Institute (MGI), sat down recently to discuss these and other issues with Matthew Taylor, chief executive of the London-based Royal Society for the encouragement of Arts, Manufactures and Commerce (RSA), following publication earlier this year of an independent review of employment practices in the modern economy, which Taylor led.”



Scott A. Wolla

Will Robots Take Our Jobs?

FRB Saint-Louis – Page One Economics – January 2018



“Robots are in the headlines, and many of us are wondering if they’ll also be taking over our jobs. Is the “Robot Apocalypse” upon us, or is this part of a larger trend that’s been occurring for much of human history?”



Celine McNicholas, Zane Mokhiber, and Adam Chaikof

Two Billion Dollars in Stolen Wages Were Recovered for Workers In 2015 and 2016—And That’s Just a Drop in the Bucket

Economic Policy institute – Report - December 13, 2017 – 11 pages



“Wage theft is epidemic, and low-wage workers are more likely than others to be victims. Wage theft happens when, for example, employers refuse to pay promised wages or pay employees for only some of the hours worked. A new EPI report finds that at least $2 billion in stolen wages were recovered for workers in 2015 and 2016. But the report notes that the wages recovered represent only a fraction of total wages stolen from workers—the authors estimate that low-wage workers in the United States lost more than $50 billion to all forms of wage theft in 2016.” 



Workplace Leave Policies: Opportunities and Challenges for Employers and Working Families

House Subcommittee on Health, Employment, Labor, and Pensions – Hearing - December 6, 2017



“From the advent of the gig economy to the demand for telework and other work-life policies that address employees’ needs, “business as usual” just doesn’t work for working families anymore. In response, many employers have implemented and continue to implement innovative paid leave policies. In fact, today’s workers are starting to consider these paid leave policies alongside other traditional, tangible benefits like pay raises. A 2015 study conducted by Harris Poll and Glassdoor found that nearly four in five employees would prefer new or additional benefits or perks over a pay increase.”




Examining the Operations of the Committee on Foreign Investment in the United States (CFIUS)

House Subcommittee on Monetary Policy and Trade – Hearing - December 14, 2017


“This hearing will examine the history, operations and any operational challenges of CFIUS. CFIUS examines proposed investment in the United States to identify, and if possible, mitigate any threat to national security, or recommend to the President he use his authority to reject the proposal. The hearing will provide the Subcommittee with information about CFIUS’s effectiveness, any challenges it faces in the current economic environment and potential improvements that could be made to increase its effectiveness.”


Theodore H. Moran

Committee on Foreign Investment in the United States “Reform” 2017: Risky Business

American Enterprise Institute - December 21, 2017 – 7 pages


“The proposed Foreign Investment Risk Review Modernization Act (FIRRMA) updates and modernizes the procedures of the Committee on Foreign Investment in the United States (CFIUS).     Three aspects of FIRRMA are particularly troubling… US national interests would be best served by maintaining CFIUS’s narrow focus on specific threats that might arise from particular acquisitions. Instead of CFIUS screening commercial transactions, the US export control regime should be updated through multilateral agreement with allies and partner countries.”


Clyde Prestowitz

Trade Secrets - How economists kept their doubts about globalization quiet, and ushered in Trump

Washington Monthly - January/February/March 2018 Issue


“Among themselves, however, economists admit that the theory is full of questionable assumptions and contingent conclusions and is not only a cause of growing income inequality and middle-class anxiety in many countries, but also the stimulator of rising international disharmony and of potential outright conflict. Yet they have persisted in publicly discounting the domestic costs of free trade, and wildly over-estimating the gains, in the face of mounting evidence that this consensus view is wrong.”


Caroline Freund

The United States Wins from Trade Agreements

Peterson Institute - December 18, 2017


“President Trump argues that the United States is losing in the World Trade Organization because its tariffs are lower than other countries and because of concessions in past trade agreements. Trump is right that trade agreements have been one-sided—but he is wrong about the direction. Recent US trade deals have involved much bigger tariff cuts by US trading partners than by the United States.”


The Future of the North American Free Trade Agreement

House Foreign Affairs Committee – Hearing – December 12, 2017


“There has been harsh criticism of NAFTA for decades. But we must separate the rhetoric from the facts. The fact is that NAFTA has benefited all three of our countries. So, I encourage the administration to strengthen and modernize NAFTA. There is always room for improvement. We have a rare opportunity here to rewrite the rules of North American trade. But we must take this opportunity to rewrite them for the better. It is important to the U.S. economy and national security that throughout the renegotiations the administration focuses on reaching an agreement that promotes free trade.”


Vivian C. Jones

Generalized System of Preferences (GSP): Overview and Issues for Congress

Congressional Research Service – Report - December 27, 2017 - 40 pages


“The U.S. Generalized System of Preferences (GSP) program provides nonreciprocal, duty-free tariff treatment to certain products imported from designated beneficiary developing countries… Congress first authorized the U.S. program in 1974, and most recently extended it until December 31, 2017. Since the program expires at the end of this year, its renewal may be an issue for the 115th Congress…This report examines, first, recent legislative developments, along with a brief history, economic rationale, and legal background leading to the establishment of the GSP. Second, the report describes U.S. GSP implementation. Third, the report briefly analyzes the U.S. program’s effectiveness and stakeholders’ views, and discusses possible options for Congress.”




The Impacts and Future of North American Energy Trade

House Energy and Commerce Committee – Hearing – December 13, 2018


“Trade of oil, gas, and electricity among the United States, Canada, and Mexico has resulted in one large, integrated North American market.  According to the Congressional Research Service (CRS), the value of energy trade between the United States and its North American neighbors exceeded $140 billion in 2015, with $100 billion in U.S. energy imports and over $40 billion in exports. The expansion of cross-border energy transportation infrastructure –pipelines for oil and natural gas and transmission lines for electricity –is required to enable increased energy trade.”


Anna Goldstein Pierre Azoulay Joshua Graff Zivin Vladimir Bulović

Promoting Energy Innovation with Lessons from Drug Development

Brookings – The Hamilton Project –Policy Proposal - December 2017


“Accelerating energy innovation is both a necessary part of climate change mitigation and a spur to economic growth, but there are a number of institutional challenges that make such innovation particularly difficult in energy technology. By comparison, the system for bringing new technologies to market in pharmaceuticals is more effective. The authors propose three types of reform to the energy innovation system that build upon lessons from pharmaceutical innovation: (1) a robust system of contract organizations to perform specialized research, (2) uniform technical standards, and (3) better regulatory incentives for electric utilities.”


Christopher Perry

Smart Buildings: A Deeper Dive into Market Segments

American Council for an Energy-Efficient Economy - Report - December 20, 2017 – 82 pages


“Commercial buildings have their own unique energy systems, ownership structures, and decision-making processes. They also have striking opportunities to save energy by installing smart technologies. Beginning where our previous Smart Buildings study left off, this report takes a deeper dive into four commercial building types: offices, retail, hotels, and hospitals. We detail costs and energy savings for these subsectors, describe the nonenergy benefits of smart technologies, and discuss the challenges to their widespread adoption. We conclude with recommendations for energy efficiency programs, government, and industry.”



Advancing Solar Energy Technology: Research Trumps Deployment

House Subcommittee on Energy - Hearing – December 12, 2017


“Today, we will examine the status of U.S. research in solar energy and explore the future of this administration’s effort to refocus funding on early-stage research and innovative technology.”