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By Patrick Sims, 202-822-1205, email@example.com
As the debate over appropriate financial regulation continues, proposals to break up global financial institutions endure. Notably absent in these proposals, however, is an acknowledgment of the consequences a break up of large financial institutions would have on the U.S. economy. This HPS report examines the role the nation’s largest banks play in the global economy and the consequences U.S. businesses and consumers face if they are arbitrarily capped or broken apart.
Read the full report here
Our analysis of the value of large financial institutions concludes that:
- U.S. banks are already smaller and safer than their global competitors;
- The loan syndication market is no substitute for big, global banks;
- In the event of a break up, the global competitive landscape will rebalance in favor of foreign banks and the shadow banking sector; and
- Ultimately, breaking up U.S. banks will not improve the safety of the global financial sector and would reduce U.S. influence over the financial sector globally.
Banking on Our Future by Hamilton …
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On Monday, Senate Republicans and Democrats released a bi-partisan comprehensive immigration reform proposal and on Tuesday President Barack Obama outlined his priorities in Nevada. As Washington debates various pieces of reform of our immigration system, this HPS report examines our current policy from the perspective of economic growth to determine whether the U.S. fully capitalizes on the economic benefits of immigrants.
Read the full report here.
Shift the framework on immigration from supply and demand to economic growth: Rather than view immigrants as labor market competitors, we offer a different framework that looks at immigrants’ impact on the two components of economic growth: population and productivity. We find immigrants have positive effects on both sides and thus are critical to boosting economic growth in the face of U.S. demographic challenges.
Current policy does not fully capitalize on the economic benefits of immigrants: Under our current system, market demand far outstrips the caps on high-skilled and low-skilled immigration. Moreover, the legal permanent resident visas are designed to unite families rather than recruit workers. …
by Matt McDonald, firstname.lastname@example.org, and Robert Terra, email@example.com, 202-822-1205.
Read the full report here (right click, save as to download the .pdf).
President Obama’s second inaugural address made a forceful defense of government’s role in our lives and our economy. It was met with an equally vocal opposition arguing for a limited state. The moment was illustrative of the current debate focused on intangible criteria of more vs. less instead of attempting to achieve specific goals or benchmarks. As we return to a “normal” budget process, this paper looks at what potential goals could look like and offers some frameworks for thinking about the “right” size of government.
- Optimal Growth: One way to evaluate government spending is through the lens of economic growth. A robust economy can lead to greater wealth, higher employment rates, better standards of living, and a host of other benefits that people value.
- Social Responsibility: Gauging the size of government based on economic growth alone may be a logical exercise, but it does not account for the