Innovations by the largest U.S. firms have had a significant impact on the labor market over the past eight decades, augmenting labor more than innovations by other firms. In a new working paper, David Autor, Anna Salomons, and Bryan Seegmiller explore the labor market effects of innovative activity, including how it may contribute to the diverging labor market fortunes of high- and low-skilled workers.
Keeping the debt-to-GDP ratio at its current level (98%) in 2053 would require a combination of permanent spending cuts or tax increases equaling 3.14% of GDP starting in 2024, according to estimates by Alan Auerbach and William Gale. In a new report, they examine the connections between economic growth, fiscal policy, and longevity in light of the most recent Congressional Budget Office projections.
Last month, the Brookings Institution and the Boston University School of Law hosted a forum to discuss the future of the Federal Home Loan Banks (FHLBs), a system created nearly a century ago to promote home ownership. Topics included disparities in housing ownership, regulation of the FHLBs, and future reforms. Aaron Klein’s summary of the event offers insight on ongoing debates and policymaking in housing finance reform.
