Essays discuss the federal budget, taxes, government monetary policies, and new approaches to solving U.S. economic problems

The Battle Against Unemployment and Inflation

Business & Money

Baily, Martin N.

Economics

W.W. Norton & Co., Inc.

Essays discuss the federal budget, taxes, government monetary policies, and new approaches to solving U.S. economic problems

Okun, Arthur M.

In the fall of 2008, fifteen of the world's leading economists--representing the broadest spectrum of economic opinion--gathered at New Hampshire's Squam Lake. Their goal: the mapping of a long-term plan for financial regulation reform.
 The Squam Lake Report distills the wealth of insights from the ongoing collaboration that began at these meetings and provides a revelatory, unified, and coherent voice for fixing our troubled and damaged financial markets. As an alternative to the patchwork solutions and ideologically charged proposals that have dominated other discussions, the Squam Lake group sets forth a clear nonpartisan plan of action to transform the regulation of financial markets--not just for the current climate--but for generations to come.
 Arguing that there has been a conflict between financial institutions and society, these diverse experts present sound and transparent prescriptions to reduce this divide. They look at the critical holes in the existing regulatory framework for handling complex financial institutions, retirement savings, and credit default swaps. They offer ideas for new financial instruments designed to recapitalize banks without burdening taxpayers. To lower the risk that large banks will fail, the authors call for higher capital requirements as well as a systemic regulator who is part of the central bank. They collectively analyze where the financial system has failed, and how these weak points should be overhauled.
 Combining an immense depth of academic, private sector, and public policy experience, The Squam Lake Report contains urgent recommendations that will positively influence everyone's financial well-being--all who care about the world's economic health need to pay attention.

The Squam Lake Report: Fixing the Financial System

Cochrane, John H.

Duffie, Darrell

Mishkin, Frederic S.

Shiller, Robert J.

Campbell, John Y.

Shin, Hyun Song

Rajan, Raghuram G.

Stulz, René M.

French, Kenneth R.

Diamond, Douglas W.

Kashyap, Anil K.

Scharfstein, David S.

Slaughter, Matthew J.

Stein, Jeremy C.

Princeton University Press

For nearly two decades the U.S. economy has been plagued by two disturbing economic trends: the slowdown in the growth rates of productivity and average real wages and the increase in wage and income inequality. The federal budget is in chronic deficit. Imports have far exceeded exports for more than a decade. American competitiveness has been a source of concern for even longer. Many Americans worry that foreigners are buying up U.S. companies, that the economy is losing its manufacturing base, and that the gap between rich and poor is widening.In this book three of the nation's most noted economists look at the primary reasons for these trends and assess which of the many suggestions for change in policy - whether for increased tax incentives for investment, education reform, or accelerated research and development - are likely to work and which may not work and could even hinder economic development.The author's discuss a variety of issues connected with deindustrialization and diminished competitiveness, distinguishing between problems that would be of real concern and those that should not. They evaluate explanations for slow growth in aggregate productivity in the United States and its relation to slower growth in other industrialized countries. They discuss the performance of the various sectors of the U.S. economy and systematically examine the evidence for and against the major proposals for correcting the adverse trends in productivity and inequity.Growth With Equity clearly explains how the country can accomplish the challenge of accelerating growth and narrowing the gap that separates the rich from the poor. While recognizing that some of their recommendations may be politically painful, the authors stress the importance of adopting a purposeful, long-range policy to encourage growth, ensure equity, and reduce the government's equity.

Growth With Equity: Economic Policymaking for the Next Century

Litan, Robert E.

Burtless, Gary

Brookings Inst Pr

This book provides a state-of-the-art review of a major recent technology which has now reached a level of maturity. The editors have pioneered the development and application of these techniques and technologies, and the chapter authors are leading practitioners in their subject areas. The volume encompasses methods and instrumentation across a range of applications. It is directed at researchers and professionals in vibrational spectroscopy, analytical chemistry, materials science, biomedicine, food science and combinatorial chemistry.

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Books by Baily, Martin N.