The 2020 Financial Report of the United States Government (FRUSG) identifies total federal liabilities of $32.7 trillion as of September 30, 2020. The debt held by the public, $21.1 trillion, comprised 62% of these ...

The country has experienced two economic crises in the first two decades of the 21st century, but there are significant differences between the 2008 crisis and the 2020 crisis caused by the pandemic. In this policy study, ...

Ever since the Federal Reserve began its series of Quantitative Easing, traditional monetary economists have been predicting levels of inflation that would rival the inflation of the late 1970’s and early 1980’s. The ...

Theoretical and empirical literature on �scal decentralization has been thriving, while understanding the welfare implications of �scal decentralization under political diversity necessitates further investigation. ...

While none of the current cryptocurrencies, themselves, currently circulate in general commerce, many crypto exchanges have arisen that exchange the various cryptocurrencies for one another and for titles to U.S. dollars. ...

Despite widespread interest, there is little systematic evidence on the relationship between income, wealth, and charitable giving. Although the media suggests that the well-off are stingy, the misuse of data, incomplete ...

Per-capita spending on health care in the U.S. is the highest in the world, and it is not clear that this high spending generates additional health benefits. This high spending, coupled with high and rising health insurance ...

As states have begun to ease pandemic-related restrictions, we enter a new economic period that has the potential for rapid economic growth, but also a period of rising inflation. In this edition of PERCspectives on Policy, ...