Economics

Policy Innovation Memorandum No. 45 Authors: Edward Alden and Rebecca Strauss

Each year, U.S. state and local governments waste tens of billions of taxpayer dollars competing to lure or retain business investment, with little impact on business behavior. Edward Alden and Rebecca Strauss lay out incremental steps for curbing the subsidy war, beginning with greater disclosure and cost-benefit analyses, and building up to a multistate agreement that creates strong disincentives for continuing subsidies.

See more in United States; Economics

Op-Ed

How to End State Subsidies

Authors: Edward Alden and Rebecca Strauss
The New York Times

Each year, state and local governments in the United States spend more than $80 billion, or roughly 7 percent of their total budgets, on tax breaks and subsidies to attract investments from auto companies, movie producers, aircraft makers and other industries. Edward Alden and Rebecca Strauss explore the possiblity of ending such compensation.

See more in United States; Tax Policy

Video

Can a Rule-Based Approach to Monetary Policy Enhance Economic Growth and Stability?

Speaker: Charles I. Plosser
Presider: Joyce Chang

Philadelphia Fed president Charles Plosser joins Joyce Chang of J.P. Morgan to discuss his views on monetary policymaking. Plosser advocates for a systematic monetary policy in which discretion and judgment are replaced by a more rule-based approach of reacting in predictable ways to particular economic conditions.

See more in Global; Monetary Policy

Transcript

Global Economy Continues to Strengthen, but Concerns Remain

Speakers: Lewis Alexander, Peter R. Fisher, and Vincent Raymond Reinhart
Presider: Sebastian Mallaby

Lewis Alexander of Nomura Securities, Dartmouth's Peter Fisher, and Vincent Reinhart of Morgan Stanley sit down with CFR's Sebastian Mallaby to provide an overview of the current state of the world economy and to identify potential trouble spots on the horizon.

This series is presented by the Maurice R. Greenberg Center for Geoeconomic Studies.

See more in Global; Economics

Primary Sources

Remarks by President Obama and Japanese President Abe

President Obama and Japanese President Abe Shinzo held this press conference on April 24, 2014, and released several fact sheets on U.S.-Japan collaboration in the areas of security, stability and prosperity, technology, and energy. President Obama traveled to Japan, South Korea, Malaysia, and the Phillipines as part of his administration's rebalance to Asia, a policy to strengthen U.S. economic and political relations in the region.

See more in Japan; Grand Strategy; Trade