Whether or not austerity is an appropriate policy for economies in recession after a large-scale financial crisis is a matter of debate among economists right now. In the real world, it is a political debate that becomes crucial in elections,…
Patient incentives needed to bring down health costs
The Affordable Care Act is going into operation, at least if conservative Republicans in the House fail to repeal it. Yet regardless of that or other changes in health financing, we will continue to struggle with rising costs of care…
Complex trends rule the jobs numbers
The national jobs situation continues to improve slightly. At its August level of 7.3 percent, the unemployment rate is back to where it was at the close of 2008 and down by a fourth from its November 2009 peak. At…
Wait until next time on stimulus pullback
The Federal Reserve’s policy-setting Open Market Committee met this week. It surprised both financial markets and many pundits by sticking with its established pattern of expanding total reserves in the banking system by purchasing U.S. Treasury bonds and mortgage-backed securities.…