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Economic Growth Program

Archives: Economic Growth Program Transcripts and Supporting Documents

Itau Global Connections: Every Country for Itself

  • By Jay Pelosky, J2Z Advisory
June 3, 2014
The lack of identifiable growth models and the reduction in global liquidity suggest that we are entering a world where every country will have to fend for itself; i.e., create its own internal growth engine. The global economy is likely to lack a growth locomotive for years to come: the US consumer no longer fits the bill, Europe is stabilizing at best, Japan is doing OK and the UK better still, but neither is likely to become a demand-pull engine while emerging economies (EM) face stagflation and busted consumer credit bubbles.

Inequality, Leverage and Crises

  • By Michael Kumhof, International Monetary Fund and Romain Ranciere, International Monetary Fund and Paris School of Economics
January 5, 2012

This presentation was part of the World Economic Roundtable.  A summary of the Roundtable session can be read here.

Inequality and the Global Crisis -- Evidence and Policies

  • By Raymond Torres, International Labour Organization
January 5, 2012

This presentation was part of the World Economic Roundtable.  A summary of the Roundtable session can be read here.

Government Spending Through the Tax Code Is Invisible and Regressive

August 3, 2011

Congress uses the tax code to promote a broad range of policy objectives. Rather than directly spend government revenue on policy programs—or implement new regulation—Congress has enacted a series of tax provisions that effectively subsidize certain politically and socially desirable activities.

These “tax expenditures” take the form of deductions, exemptions, or credits to taxpayers who engage in the targeted activity. From a budgeting perspective, they are treated as foregone government revenue, rather than increased government expenditure.

The Jobs Deficit

  • and Benjamin Kolansky
April 12, 2010

Despite some recent improvement in the labor market, unemployment is projected to remain high for years to come. The jobs deficit, or the difference between the number of unemployed persons and the number of job openings, is 12.3 million. To deal with long-term unemployment and the soaring jobs deficit we need a job-creation agenda that includes both demand-side and supply-side measures: demand-side to boost growth and supply-side to deal with international competition and structural changes.

What Will Replace The American Consumer?

November 2, 2009

What will take the place of the American consumer is the biggest question hanging over the world economy.
For the past decade and a half, U.S. consumption has been the principal driver of world economic growth, supplying demand for the fast-growing export economies of Asia, whose growth in turn increased demand for capital goods from Europe and Asia and for oil and commodities from Latin America, Africa, and the Persian Gulf. From 1997 to 2008, personal consumption as a percentage of GDP in the United States increased from 67 percent to over 70 percent.