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Competition in the Mutual Fund Industry: Evidence and Implications for Policy 

Since 1960, the mutual fund industry has grown from 160 funds and $18 billion in assets under management to over 8000 funds with $10.4 trillion in...

The economist as public intellectual.(economic commentary) 

Abstract: Over the past two decades, the rising number of outlets for communication through cable networks and electronic broadcasting (not to...

Huh? A surprising success! First came the bursting of the Clinton bubble, then 9/11, then the accounting scandals and all the other shocks to the system. Who would have predicted such a vigorous U.S. recovery? 

I speak to business audiences. I generally open my remarks by asking the group to imagine that I had spoken to them in late 2000 and told them I...

Economic outlook and economic policy in the United States: the administration's tax cut proposals will strengthen short-term and long-term growth 

The current recovery remains vulnerable, with unusually weak investment and job creation for the recovery phase of a cycle. The Administration's...

Tax policy and investment 

Measurement error in fundamental variables and misspecification of the costs of adjusting capital stock are the reasons behind the impracticality...

Is there a "credit channel" for monetary policy? 

On the use of "distribution tables" in the tax policy process 

The burdens of changes in tax policy are not necessarily borne by the parties legally liable for the taxes, and economic analysis can contribute to...

The president's 1992 Health Care White Paper: an economic perspective 

President Bush's 1992 Health Care White Paper facilitates access with a new transferable tax credit and deduction to make health insurance more...