New Brookings Papers on Economic Activity
Whether it's the COVID-19 recession or the costs of pre-trial detention, the latest set of Brookings Papers on Economic Activity cover a wide range of macroeconomic topics. See highlights below from the Spring 2021 conference or view all the papers here.
The fiscal policy response to COVID-19. Pandemic-related legislation has had a budgetary cost of over $5 trillion. As a share of GDP, that is nearly equivalent to what the United States spent on war production in 1943. Christina Romer assesses the effectiveness of this spending.
Advanced cognitive skill deserts in America. Middle schoolers in U.S. counties where fewer adults have advanced cognitive skills appear less likely to develop advanced skills themselves. Caroline Hoxby discusses the implications for these students' future economic security.
The economic costs of pre-trial detention. If money bail were eliminated, Will Dobbie and Crystal Yang estimate that up to 2.8 million fewer people would be detained per year. This move could also increase aggregate U.S. income by up to $80.9 billion per year.