Steven J. Davis

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7-second takeaway

US output growth continues to disappoint and unemployment remains painfully high. Some research suggests that uncertainty, particularly over economic policy, partly explains the sluggish nature of the recovery.

 

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7-second takeaway

As the U.S. fiscal cliff looms, government debt mounts and the euro remains embattled, the topic of policy uncertainty is attracting more attention. Some economists suggest that high levels of uncertainty partly explain the sluggish economic recovery following the financial crisis and Great Recession of 2009.

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7-second takeaway

The federal government currently supports over 40 different programs that provide job training and spends billions of dollars annually training and matching unemployed workers with jobs. This conference will feature three panels focused on publicly funded job training programs, their performance in the U.S. and possible reform ideas.

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7-second takeaway

Many commentators argue that uncertainty about taxes, government spending and other policy matters deepened the recession of 2007-2009 and slowed the recovery. To investigate this issue we develop a new index of policy-related economic uncertainty and estimate its dynamic relationship to output, investment and employment. 

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7-second takeaway

Hires, quits, and layoffs exhibit strong, highly nonlinear relationships to employer growth rates in the cross section. Simple statistical models of these relationships greatly improve our ability to account for fluctuations in aggregate worker flows and enable us to construct synthetic measures of hires, separations, quits, and layoffs back to 1990.

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7-second takeaway

Many commentators argue that uncertainty about taxes, government spending and other policy matters deepened the recession of 2007-2009 and slowed the recovery. To investigate this issue we develop a new index of policy-related economic uncertainty and estimate its dynamic relationship to output, investment and employment.

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7-second takeaway

In light of recent attacks on Governor Mitt Romney’s record at Bain Capital, American Enterprise Institute (AEI) director of economic policy studies Kevin Hassett and economist Steven Davis examine in their recently published piece what is private equity, its impact on jobs, and its role in the American economy.

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Private equity is a force for good Mitt Romney

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Governor Romney’s defenders have argued that critics of his role at Bain Capital are really attacking capitalism itself. Given the academic evidence, we would have to agree.

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Helping hand reaching out to hand drowning in paper work

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A major factor behind the weak recovery and gloomy outlook is a climate of policy-induced economic uncertainty. An index we devised shows U.S. policy uncertainty at historically high levels.

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Jobs Won't Be Born If Companies Feel Too Reined in by the Government

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Recent research points to a shift in recruiting behavior by employers as an important factor in the distressing U.S. jobs situation. Employers have influenced the pace of job filling by the intensity of their recruiting efforts.

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Job offerings in a newspaper

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The results of a recent study suggest that private equity buyouts raise overall productivity and accelerate the reallocation of capital and labor to more productive uses, but have a negligible effect on net employment.

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ECO-Mon-0031-80

7-second takeaway

By opting for a hasty, major transformation of the U.S. economy after the financial crisis instead of a more measured approach, Congress and the president may be slowing the economic recovery.

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