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If the debt limit binds, how would the U.S. Treasury operate? How much would federal spending have to be cut? How would the economy be affected? Wendy Edelberg and Louise Sheiner explain the stakes and potential ramifications.
On December 7, The Hamilton Project addressed reforms to the immigration system that would make it more equitable and increase economic growth.
Immigration is good for the U.S. economy and for the fiscal picture at the federal level, but some local areas experience adverse fiscal impacts when new immigrants arrive. Wendy Edelberg and Tara Watson propose a transparent system for redistributing resources from the federal government to these localities.
Two measures suggest different gaps between the current strength in the labor market and what a more sustainable level would be. This analysis finds that the rate of job openings has been more in line with its historical relationship to the hires rate than its relationship to the unemployment rate.
In this economic analysis, we determine the degree to which firms that are looking to hire a significant number of workers can expand employment (a “hot” labor market) or cannot (a “tight” labor market). This analysis suggests that a high job opening-to-unemployment rate ratio overstates how hard it is for firms to hire and that the job openings-to-hires and job opening-to-net hires ratios are worthwhile additions to the list of indicators that assess the state of the labor market.
On September 28, The Hamilton Project hosted an event that examined the role for a modernized industrial policy that addresses ongoing and emerging challenges.
Nine economic facts about the service sector illustrate recent trends in spending, employment, and inflation as the country continues to rebalance.
Defying expectations, the business sector appears to have weathered the COVID pandemic and found a renewed gear of dynamism in the process. This analysis looks at the outcomes of initial business closings, employment impacts, new business formations, and restructuring of business activities.
An analysis of the size and composition of the labor force identifies both populations and policies that could contribute to gains in labor force participation.
On June 28, 2022, The Hamilton Project at the Brookings Institution hosted a webcast exploring lessons for strengthening social insurance programs.
On June 13, 2022, The Hamilton Project at the Brookings Institution hosted a webcast exploring significant changes to the taxing of international corporate income. The webcast will feature National Economic Council Director Brian Deese and Wendy Edelberg of The Hamilton Project.
Significant proposed changes to tax policy would bring the US system more in line with the new consensus on international corporate tax policy. These six economic facts present background on motivations and goals for many of the features of the international framework.