The “American System” that gives its name to this essay series is perhaps most directly associated with mercantilism, industrial policy, and federal investments in infrastructure. An element that is ...

Journal Editorial Report: Does the Department of Government Efficiency stand a chance? Photo: Kena Betancur/AFP Excessive spending has been a way of life for lawmakers in Washington for more than half ...

Trump’s Replacement Tariffs Will Have Unintended Consequences for USMCA A 16th-Century Astronomer’s Warning to Modern Central Bankers The Four Sources of Voters’ Economic Rage The U.S. Must Expand Its ...

QUICK: WOULD you rather face the worst economic crisis in history as a resident of America’s fiscal union, or Europe’s? An easy choice, surely; a decade ago, the euro area’s skeletal economic ...

We analyze the effects of the COVID‐19 pandemic on state and local government finances, with an emphasis on health spending needs and the role of the Medicaid program. We first find that enhanced ...

Federal fiscal policy during the recession was abnormally expansionary by historical standards. However, over the past 2½ years it has become unusually contractionary as a result of several deficit ...

Last May the Obama administration forced South Carolina not just to take its share of federal stimulus funds, but to spend the money on new programs rather than paying down the state's debt. I was ...

Nepal, June 24 -- The federal budget is more than an annual statement of revenues and expenditures; in a federal system, it ...

Fiscal decentralization in Belgium progressed substantially in 2015-19. However, as decentralization of expenditure responsibilities continued to outpace decentralization of revenue authority, ...