Wednesday, July 23, 2014
  1. Fighting the Fed

    Martin Feldstein

    Fighting the Fed

    0

     asks whether congressional Republicans are right to seek a monetary-policy rule.

    Janet Yellen Ben Bernanke Fed Chairs Zhang Jun/ZumaPress

    The US Federal Reserve fears that a proposed law requiring it to use a formal rule to guide monetary policy would limit its independence, while the bill’s proponents argue that it would produce more predictable growth with low inflation. Who is right? READ MORE

  2. Europe’s Surplus of Stagnation

    Robert Skidelsky

    Europe’s Surplus of Stagnation

    1

     takes Germany to task over its refusal to address its massive current-account surplus.

    Euros and Dollar mightykenny/Flickr

    Earlier this month, the chief executive of Airbus called for drastic action by the European Central Bank to reduce the value of the euro against the dollar by about 10%, from a “crazy” $1.35 to between $1.20 and $1.25. But the euro's strong exchange rate is the result of inaction by Germany, not inaction by the ECB. READ MORE

  3. Europe’s Options

    Michael J. Boskin

    Europe’s Options

    5

     sees three possible paths for the European Union, with the most likely also the least helpful.

    EU slow growth Klaus OhlenschläGer/ZumaPress

    The EU has three broad options as it confronts its economic malaise and increasingly frustrated voters. Unfortunately, the most likely option – business as usual, with improvised fixes to mini-crises – is the one least likely to deliver the growth that Europe desperately needs. READ MORE

  4. The Transatlantic Growth Gap

    Daniel Gros

    The Transatlantic Growth Gap

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     attributes America's edge over Europe to its faster bankruptcy procedures.

    Bankruptcy in the US macrahe/Flickr

    The key to the economic-performance gap between the US and the EU in the last three years is the resilience of private consumption by American households. How were US households able to reduce their debt burden during a period of high unemployment and almost no wage gains while sustaining consumption growth? READ MORE

  5. The Great Income Divide

    Kemal Derviş

    The Great Income Divide

    6

     calls for potent policies to combat income inequality and strengthen social mobility.

    Poor Child on Street Henrik Berger Jorgensen/Flickr

    Thomas Piketty’s bestseller Capital in the Twenty-First Century is fueling heated debate about the relationship between capital accumulation and inequality. But the broader question is whether these debates will produce real solutions to two of the critical problems of our time: income inequality and limited social mobility. READ MORE

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287 pages
287 pages

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