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Abstract The U.S. national debt is on a trajectory to reach 185 percent of gross domestic product by 2035 unless there is a drastic change in federal fiscal policy. The main drivers of this situation are Social Security and health care programs, whose growth is amplified by an aging population...
Abstract One of Alfred Marshall's most important contributions was that the marginal buyer in the marginal market ultimately determines the price of a good. However, until recently, little attention has been paid to the fact that the location of the marginal buyer is not fixed. In the case of...
Abstract The U.S. economy appears to be on track for a sustainable recovery, dominated by private demand, with major components of growth other than residential construction likely to grow at a healthy rate through 2011. Inflation is likely to remain in an acceptable zone, but policymakers must...
Abstract Despite current media reporting that assumes new orders for durable goods (NDOG) are an indicator of future economic activity, the new orders series does not improve forecasts of durable goods shipments. This result is true for both aggregate and industry-level measures of new orders,...
Abstract Forecasting the likelihood of recessions and slow-downs is an important issue for many who use economics in business. While there has been a large and growing body of literature on the likelihood or recessions, there has been little on slow-downs.. This paper presents a new method that...
Abstract This paper examines regional competitiveness as it relates to regional labor-management relations. A survey of recent literature provides perspective and secondary evidence regarding labor-management relations, workplace practices, and workforce quality. It does not answer the question,...
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