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The supply-side framework outlined in this paper does not include all the effects of taxation that economists would like to examine. Depending on one's perspective, the glass could be considered half-full as well as half-empty. But if the only "dynamic" thing the Joint Committee on Taxation did was to incorporate the detrimental effects of federal deficits on capital formation, this would be more than worth the effort.
China’s high household savings rate remains a puzzle, with potential explanations including demographic, policy, and financial causes. This column investigates China’s savings rate using individual income and spending transactions linked to demographic characteristics and financial information on loan applications and credit availability. The authors match bank customers to
U.S. Lawmakers should focus on boosting the productive capacity of the economy by reforming the tax code to prioritize economic growth and opportunity.
Georgios Georgiadis, Helena Le Mezo , Arnaud Mehl, Cédric Tille 26 July 2021 The US dollar has a dominant role in currency invoicing of global trade, covering around 40% of international transactions, followed by the euro and the renminbi. This column analyses the effects of economic fundamentals and government policies on currency invoicing patterns. Strategic complementarities and integration in global value chains are both important determinants of dollar and euro invoicing in trade with the US and the euro area, while the establishment of currency swap lines by the People’s Bank...