Steven A. Tananbaum Senior Fellow for International Economics Robert Kahn argues that the idea of capital control is less radical than it seems; although comprehensive liberalization is theoretically the ideal option, capital controls may be China’s best chance to end the panic roiling global markets.
Benn Steil and Emma Smith’s article explains the difference between using rate hikes and balance-sheet reductions to tighten monetary policy and shows why Richard Koo is mistaken in arguing for the Fed to do the latter.
As the most powerful emerging economies—Brazil, China, and India—slow after years of unprecedented growth, panic over their challenge to global order seems unfounded. But stalled performance does not make them irrelevant, and advanced economies should integrate them into global economic institutions, writes Miles Kahler in World Politics Review.
A new Council on Foreign Relations (CFR) ebook, How America Stacks Up: Economic Competitiveness and U.S. Policy, examines how the United States has responded to global economic competition and benchmarks the United States against other advanced economies. The ebook is an invaluable resource in the 2016 presidential election cycle for assessing the Obama administration’s economic legacy and looking at priorities for the next administration.
The line between domestic economic policy and foreign economic policy is now almost invisible, and getting these policies right matters for more than just U.S. living standards. Through insightful analysis and engaging graphics, How America Stacks Up outlines the challenges faced by the United States and prescribes solutions that will ensure a healthy, competitive U.S. economy for years to come.
The United States leads the world in combining innovation quality and quantity, but the challenges are growing, particularly when it comes to scientific research. Addressing gaps in U.S. innovation policy could help ensure that the United States remains the leading innovation center for decades to come.
The scorecard infographic and accompanying progress report, "Trading Up: U.S. Trade and Investment Policy," analyzes the overall health of the U.S. economy by focusing on shifts in global trade and foreign direct investment in the United States.
A decade ago the United States had the lowest share of long-term unemployed workers among developed nations. But today U.S. long-term unemployment levels are nearly as high as those in Europe, despite stronger overall U.S. economic performance. This Progress Report and Scorecard demonstrates that U.S. federal employment and training programs that assist job seekers do little to help the long-term unemployed prepare for different careers.
The U.S. government faces an unsustainable long-term debt trajectory. This Progress Report and Scorecard outlines the factors affecting federal debt and suggests options for policymakers to address the impending crisis.
In the first installment of the Renewing America Progress Report and Scorecards, "Road to Nowhere: Federal Transportation Infrastructure Policy" provides a critical assessment of federal transportation policy, including background on major policy initiatives and analysis of what's needed to start moving forward.
The U.S. system for taxing corporate profits is outdated, ineffective at raising revenue, and creates perverse incentives for companies to shelter profits overseas. It is also, for most U.S. companies most of the time, a pretty good deal, which is one of the big reasons why any serious overhaul will be so difficult to achieve.
The United States used to be the trailblazer in regulatory reform. But the rest of the rich world has caught up. This Progress Report and Scorecard from the Renewing America initiative outlines the current state of federal regulation in the United States and charts ways the U.S. regulatory management system could be improved.
The confirmation by UN monitors that Iran has complied with the deal to dismantle large parts of its nuclear program lifts major sanctions and ushers in a new era for the Middle East. This issue guide offers analysis and background.
Learn more about CFR’s mission and its work over the past year in the 2015 Annual Report. The Annual Report spotlights new initiatives, high-profile events, and authoritative scholarship from CFR experts, and includes a message from CFR President Richard N. Haass. Read and download »