About the Author:
Jeffrey A. Frankel is the James W. Harpel Professor of Capital Formation and Growth at Harvard Kennedy School. He directs the Program in International Finance and Macroeconomics at the National Bureau of Economic Research, where he is also on the Business Cycle Dating Committee, which officially declares recessions. He currently serves on advisory panels for the Federal Reserve Banks of New York and Boston, the Bureau of Economic Analysis, and the Peterson Institute for International Economics.
Tag Archives: budget
Four Magic Tricks for Aspiring Fiscal Conservatives
Politicians who advertise themselves as “fiscal conservatives” sometimes campaign on crowd-pleasing pledges to cut taxes while simultaneously reducing budget deficits. These are difficult promises to deliver on in practice, since the budget deficit equals government spending minus tax revenue. Aspiring … Continue reading
Posted in 2008 presidential election, 2012 presidential election, Budget, Conservatives and Liberals, Laffer Curve
Tagged 2008 presidential election, 2012 presidential election, budget, Conservatives and Liberals, Laffer Curve
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Sinners, Red States, Blue States
Mitt Romney, presidential candidate, said in now-infamous comments that 47% of the American electorate is dependent on the federal government, that he will never be able to teach them to take personal responsibility for their lives, and that they are … Continue reading
Posted in 2012 presidential election, Budget, Conservatives and Liberals, Obama Administration
Tagged 2012 presidential election, budget, Conservatives and Liberals, Obama Administration
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More Black Swans?
I have arguedthat the best way to think of “black swan” events is as developments that, even though low-probability, can in fact be contemplated ahead of time. Even if they are the sort of thing that has never happened before … Continue reading
Posted in 2012 presidential election, Budget, China, Euro, Europe, Financial Crisis, Inflation, Oil, Uncategorized
Tagged 2012 presidential election, budget, China, euro, Europe, Financial Crisis, Inflation, Oil, Uncategorized
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Black Swans of August
Throughout history, big economic and political shocks have often occurred in August, when leaders had gone on vacationin the belief that world affairs were quiet. Examples of geopolitical jolts that came in August include the outbreak of World War I, … Continue reading
Posted in 2012 presidential election, Budget, Climate Change, Commodities, Emerging markets, Euro, Europe, Financial Crisis, Inflation, Oil
Tagged 2012 presidential election, budget, Climate Change, Commodities, emerging markets, euro, Europe, Financial Crisis, Inflation, Oil
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Procyclicalists Across The Atlantic Too
My preceding postbemoaned the tendency for many US politicians to exhibit a procyclicalist pattern of behavior: voting for tax cuts and spending increases when the economy is booming, which should be the time to save money for a rainy day, … Continue reading
Posted in Budget, Conservatives and Liberals, Emerging markets, Euro, Europe, Fiscal Stimulus, Recession
Tagged budget, Conservatives and Liberals, emerging markets, euro, Europe, Fiscal Stimulus, Recession
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