Economic Growth

The U.S. Economy After The Great Recession

  • By
  • Sherle R. Schwenninger,
  • Samuel Sherraden,
  • New America Foundation
March 4, 2014
The bursting of the housing bubble in 2008 plunged the U.S. economy into a serious crisis, leaving American households with a huge debt overhang and the economy with a large gap in output and employment. This report reviews the economy’s deleveraging and recovery experience more than five years after the crash. It explores the following questions:  
  • How far has the economy come in the deleveraging process? Is private sector debt now at a sustainable level or do households and the financial sector continue to need to pay down debt?  
  • To what extent has the U.S.

Productivity Measurement in the United States Health System

  • By
  • Joe Colucci,
  • New America Foundation
  • and Rick McKellar, Harvard Medical School, and Michael Chernew, Harvard Medical School
October 2, 2013

Improving productivity in health care is, unquestionably, among the most important challenges facing policy makers and health care systems. Advances in medicine have greatly improved lives over the last century and ideally will continue to do so in the future. However, medical care also consumes a rapidly increasing proportion of society’s time and resources. That trend has continued to the point that growth in health care spending is considered a drag on the remainder of the economy.

Productivity and the Health Care Workforce

  • By
  • Shannon Brownlee,
  • Joe Colucci,
  • New America Foundation
  • and Thom Walsh, Dartmouth Center for Health Care Delivery Science
October 2, 2013

Forget The Wealth Effect: It’s Time to Focus on The Income Effect to Understand the Sluggish Economy

October 1, 2013

by Peter W. Atwater

The “wealth effect” concept is remarkably simple: spending increases (decreases) as perceived wealth increases (decreases). When people perceive themselves to be richer, they spend more.

With the prices of stocks and bonds near all-time highs and home prices on the rebound, consumer spending should be on a tear. But it’s not -- much to the consternation of many economists, particularly those at the Federal Reserve. As a result, many believe the wealth effect is somehow broken.

Looking Back at the Financial Crisis: The Role of Saturating Overconfidence

September 13, 2013

by Peter W. Atwater 

It has been five years since the failure of Lehman Brothers and the beginning of the global financial crisis. Over this time, dozens of books have been written, thick Congressional reports have been issued, and even full-length documentaries have been filmed – all seeking to explain how the crisis happened.

Beyond the Low Wage Social Contract

  • By
  • Joshua Freedman,
  • Michael Lind,
  • New America Foundation
September 10, 2013

The issue of low wages has moved to the center of American public debate recently, thanks to protests against the low pay of fast food workers, the large share of poorly-paying and part-time jobs that have been created in the aftermath of the Great Recession, and proposals by President Obama and others to raise the minimum wage. But while the debate may be recent, today’s low wages are neither new nor surprising. On the contrary, they are the result of decades of public policy.

The German Wages Problem -- A World Problem

  • By Joerg Bibow, Skidmore College
June 14, 2013

Germany and Europe at large have suffered from chronically high unemployment for all or most of the time since the 1980s. The conventional wisdom of American economists and media commentators alike offers a clear-cut diagnosis of this long-standing malaise. Often repeated and never questioned, the verdict is that European labor markets are too rigid, the old continent’s welfare systems overly generous, and wages too high. In short, European labor is simply too expensive, and employees are pricing themselves out of work as a result.

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