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Commentary

The daily commentary section provides insights on complex issues in a brief and digestible format. Here you can find analysis of changing economic conditions and original perspectives on how the economy is affecting policy debates.

Challenging the Fed in Jackson Hole

Jared Meyer | 09/02/2015

As the stock market waited anxiously through the Federal Reserve’s Jackson Hole Summit this weekend for clues to future monetary actions, another conference was held just miles away. The American Principles Project, a conservative non-profit, hosted the conference, and participants and speakers did not hide their worry over how the Fed’s unprecedented actions will harm future economic prosperity.

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Twenty-Five Basis Points That Could Shake the World

Caroline Baum | 09/01/2015

If I were a Fed official, I would give greater weight to the markets' consensus forecast than to the predictions of an econometric model.

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Research

e21 spotlights and directly supports new research that's necessary to develop innovative economic policy solutions for the 21st century. This section highlights in-depth research papers from a range of academics, economists and thinkers across the political spectrum, fostering creative nonpartisan policy solutions to pressing economic concerns.

http://www.economics21.org/files/pdf/House%20Testimony%20July%2023%202015.pdf

What’s Wrong with Prudential Bank Regulation and How to Fix It

Charles W. Calomiris | July 23, 2015

Testimony before the House Financial Services Committee. Read full testimony here

I explain why the current mix of prudential regulations of banks developed over the past three decades is not designed well enough to get us there. The pillars of that system include Basel risk-based capital ratio requirements, leverage limits, liquidity regulations, stress tests, and “orderly resolution.” As I will show, it is not just the particulars of these standards that are inadequate; they are misconceived and poorly designed. I propose regulatory reforms that would not only credibly limit private risk taking at public expense, but do so in a way that would improve the efficiency of our banking system. It is possible to credibly and substantially reduce (if not eliminate) bank bailouts, while also improving bank performance, and reducing the risks banks face from regulatory uncertainty.

http://www.economics21.org/files/pdf/Scott%20Testimony%207.15.2015_0.pdf

Testimony on Lower Labor Force Participation Rates

July 15, 2015

Read the full testimony here.

Morning eBriefs

Each weekday morning, e21 delivers a short email that provides a snap shot of the day's economic news. These eBriefs include e21 exclusive commentaries and the latest market news and updates from Washington.

Multimedia

What Is Next for the Fed?

Caroline Baum and Marvin Goodfriend discuss the Shadow Open Market Committee's core principles and monetary policy.

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Why Your Plan Was Cancelled: Health Insurance and the Affordable Care Act

There's a bizarre reason why millions of Americans saw their health plans cancelled in 2013 and, as explained in a new video featuring Robert Graboyes of the Mercatus Center at George Mason University, millions more will lose their plans in years to come. 

Insurance coverage for Americans will remain in permanent turmoil because the Affordable Care Act (ACA) requires that all plans fit within cookie-cutter designs called "metallic tiers." (The tiers—bronze, silver, gold, and platinum—refer to the percentage of medical expenses a particular plan pays.) The video also explains that families may have to switch plans repeatedly because, as circumstances change, a plan that fits within a tier one year may not fit in any tier in a later year.

Please see Dr. Graboyes’ op-ed on this issue (Under Obamacare, Americans Will Continue to Lose Coverage) http://www.usnews.com/opinion/economic-intelligence/2014/09/22/under-obamacare-americans-will-continue-to-lose-coverage

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