Economic Policy Commons^™

Lessons Learned: Ron Borzekowski, Mercedes Cardona, Rosalind Z. Wiggins

Journal of Financial Crises

Ron Borzekowski was a senior economist at the Federal Reserve Board when he was detailed to join the Financial Crisis Inquiry Commission (FCIC) as a senior researcher and later became deputy to research director Greg Feldberg. The 10-member bipartisan commission, charged with investigating and determining the causes of the crisis, held more than 19 hearings, and interviewed more than 700 people from September 2009 to Jan. 2011. It issued a 662-page report explaining why the crisis came about and the roles of financial institutions, government, and the public. This Lessons Learned is based on an interview with Mr.Borzekowski.

Lessons Learned: Greg Feldberg, Sandra Ward, Rosalind Z. Wiggins

Journal of Financial Crises

Greg Feldberg was a senior supervisory financial analyst at the Board of Governors of the Federal Reserve experienced in regulating large banks when he was recruited to the Financial Crisis Inquiry Commission (FCIC) where he worked from 2010-11, becoming its Director of Research. The FCIC was a bipartisan commission charged with investigating the causes of the global financial crisis of 2007-09. Feldberg shared thoughts about some of the challenges faced by the commission and why its report is important. This "Lessons Learned" is based on an interview with Mr. Feldberg.

Lessons Learned: Christopher Seefer, Mercedes Cardona

Journal of Financial Crises

Christopher Seefer was recruited to the Financial Crisis Inquiry Commission (FCIC) to serve as the commission’s director of investigations. The 10-member bipartisan commission wascharged with investigating and determining the cause of the global financial crisis of 2007-09 (GFC). The commission held over 19 hearings and interviewed more than 700 people from September 2010 to January 2011 and produced a662-page report that attempted to explain why the crisis came about and the roles of government and private enterprises in the crisis.This “Lessons Learned” is based on an interview with Mr. Seefer.

Lessons Learned: Wendy Edelberg, Sandra Ward

Journal of Financial Crises

Wendy Edelberg served initially as Director of Research at the Financial Crisis Inquiry Commission (FCIC) before eventually being named Executive Director. Established in the wake of the global financial crisis of 2007-09, the FCIC was a bipartisan panel of six Democrats and four Republicans charged with determining the causes of the worst financial crisis since the Great Depression. Edelberg built the organization from the ground up, hiring staff, instituting operating procedures, establishing guidelines, managing communications, and reporting to the commissioners. This "Lesson Learned" is based on an interview with Ms. Edelberg.

Lessons Learned: Phil Angelides, Sandra Ward

Journal of Financial Crises

Phil Angelides chaired the Financial Crisis Inquiry Commission (FCIC) established by Congress in the aftermath of the global financial crisis of 2007-09 with the purpose of understanding what precipitated the crisis so that any future crises might be averted. The 10-member bipartisan commission, known as the “Angelides Commission” after its chair, convened in September 2010. Meeting in a span of 15 months and holding 19 public hearings and interviewing more than 700 people, the commission submitted its findings in January 2011. The commission concluded that the crisis was avoidable, the “result of human actions, inactions, and misjudgments.” The report included …

Monetization Of Fiscal Deficits And Covid-19: A Primer, Aidan Lawson, Greg Feldberg

Journal of Financial Crises

Monetization—also known as “money-financed fiscal programs” or “money-printing”—occurs when a government finances itself by issuing currency or other non-interest-bearing liabilities, such as bank reserves. It poses real risks—potentially excessive inflation and encroachment on central-bank independence—and some paint it as a relic of a bygone era. The onset of the COVID-19 crisis, however, forced governments to spend heavily to combat the considerable economic and public health impacts. As government deficits climbed, monetization re-entered the conversation as a way to avoid the massive debt burdens that some nations may face. This paper describes how monetization works, provides key historical examples, and examines …

All Over The Map: A Systematic Literature Review And State Policy Scan Of Medicaid Buy-In Programs For Working Individuals With Disabilities, Dan Ferris, Mpa, Yueh-Ya Hsu, Mph, William Liem, Msw, Meredith Raymond, Msw, Mary Acri, Phd

Social Policy Institute Research

While supports for people with disabilities have increased, significant healthcare and financial barriers persist. State-administered Medicaid Buy-In programs for working people with disabilities, distinct from broader buy-in discussions that have emerged as some states consider expanding access to health insurance, are intended to incentivize employment and protect against a loss of Long-Term Services and Supports. Loss of these services would be detrimental to a person’s ability to access daily living and workforce participation supporting services. This paper explores identified drivers of and barriers to participation, outcomes, and the current state of programs that are currently in place. Authors conducted a …

Pay Your Debts: Moral Dilemmas Of International Debt, Alessandro Del Ponte, Peter Descioli

Political Science Faculty Articles and Research

Should a government repay its international debts even if this imposes severe hardships on its citizens? Drawing on moral psychology, we investigate when people think a government is morally obligated to pay its debts. Participants read about a government that has to decide whether to default on its debt payments or cut vital programs. Across conditions, we varied the number of jobs at stake and whether a full or partial default is required to save them. Overall, most participants judged that a government should pay its debt even when the damage to the debtor is greater than the benefit to …

Addressing Food Insecurity In Egypt: Towards Sustaining Food Access For All/ الأمن الغذائي في مصر نحو استدامة وصول الغذاء للجميع, Alaa Mazloum, Abdelrahman Rizk, Norhan Muhab, Zainab Asal

Papers, Posters, and Presentations

This policy paper sheds light on the current challenges that Egypt faces to ensure food access for all. In attempts to underscore the root causes of food insecurity in Egypt, this paper looks at the country’s geographical and agricultural national policies, food pricing, household expenditures on food as well as the challenges imposed on the country by climate change. These factors directly challenge the country’s ability to achieve food security for all by 2050. Although the Government of Egypt (GoE) launched pro-poor policies that aim at reducing the economic burden on vulnerable groups, the government needs to explore other feasible …

The Exploitation Or Protection Of Communities And Exploited Persons?, Spencer Boldt

Undergraduate Honors Theses

This study was intended to dissect the inner workings of the newly implemented Bill C-36 in Canada, The Protection of Communities and Exploited Peoples Act through a mixed methods approach. This was done through comparing statistical research (demographics, crime data, and overall economic state) within Regina to interviews conducted with those individually involved in prostitution and the community of the city. This study was meant to draw out the differences between what the statistics depict, a growth in the overall safety of Regina, versus the perspectives gained from multiple interviewees. With this mixed method approach I have deduced that Bill …

Three Essays On Tax Compliance In Indonesia, Himawan Saputro

Theses and Dissertations--Public Policy and Administration

This dissertation studies the impacts of major tax reforms designed to improve tax compliance, particularly in the context of developing countries with limited enforcement capacity due to informality and lack of third-party data using the Indonesian tax administrative data as well as relevant empirical research methods. In order to describe this dissertation, I discuss each essay as the following.

The first essay is titled "How Do Small Taxpayers Respond to Tax Simplification? Evidence from the Indonesian Turnover Tax Reform." This essay studies the firms' behavioral responses to tax simplification in Indonesia by exploiting the implementation of turnover tax in 2013 …

Made In China: Decline Of Unions And Stagnant Wages In The U.S., Witt Harberts

Honors Program Theses

All of this research is connected by a dedication to better understand or solve the wealth and income inequality that has been prevalent in every country. I intend to add to this research by examining the relationship between unions and wages, which plays into the bigger conversation about wealth and income inequality. To summarize, the questions are, is there a correlation between the decline in union membership and the stagnation of wages? If so, has it played a role in the rise in income and wealth inequality in the U.S.?

Are Us Government Foreign Aid Flows And Fdi Flows Intertemporally Related? An Investigation Of Twenty-Three Countries In Sub-Saharan Africa, Ravi Kumar Datt Panchagnula

Electronic Theses and Dissertations

In this thesis, I test my central hypothesis that United States government foreign aid flows and FDI flows from anywhere in the world to Sub-Saharan Africa are intertemporally related; thus, I test to what extent FDI flows follow—and, thus, are caused by—aid flows or to what extent aid flows follow—and, thus, are caused by—FDI flows. My panel dataset includes twenty-three Sub-Saharan countries and spans 1991 to 2018. Based on the results of pooled-OLS and panel fixed-effects regressions, and panel Granger causality tests, I show that aid and FDI are intertemporally related. Additionally, Granger-causality is bidirectional: FDI Granger-causes United States government …

China-Africa Relations: The Northern Nigerian Textile Industry, Afolabi Toye

International Studies (MA) Theses

This project takes a critical look into China’s policy in Africa. The work assesses the significance and challenges of China-Africa cooperation focusing on Nigeria. The paper argued that analyzing the nexus between Beijing and Africa should not center on China’s investments and financial aid. Instead, it should reflect on the competitive hedge China enjoys through these investments in terms of direct access to each market sector of the African economy, and it impacts on local businesses. The study examines the impacts of China’s approach on the textile industry in Kano and Kaduna states in northern Nigeria, to provide an insight …

Integrating Diverse Perspectives For Managing Neighborhood Trees And Urban Ecosystem Services In Portland, Or (Us), Lorena Nascimento, Vivek Shandas

Urban Studies and Planning Faculty Publications and Presentations

Municipalities worldwide are increasingly recognizing the importance of urban green spaces to mitigate climate change’s extreme effects and improve residents’ quality of life. Even with extensive earlier research examining the distribution of tree canopy in cities, we know little about human perceptions of urban forestry and related ecosystem services. This study aims to fill this gap by examining the variations in socioeconomic indicators and public perceptions by asking how neighborhood trees and socioeconomic indicators mediate public perceptions of ecosystem services availability. Using Portland, Oregon (USA) as our case study, we assessed socioeconomic indicators, land cover data, and survey responses about …

Local Fiscal Adjustments From Depopulation: Evidence From The Post–Cold War Defense Contraction, Timothy M. Komarek, Gary A. Wagner

Economics Faculty Publications

In this paper, we estimate the long-term causal effect of population losses on local government revenue, expenditure, and debt by exploiting a quasi-exogenous change that reduced the number of US military personnel by about 40 percent between the late 1980s and 2000. Aggregating across governmental units within commuting zones, we find that real per capita total revenues and expenditures remained unchanged for remaining citizens. At the same time, however, we note several important compositional effects. First, local governments appear to have offset reductions in state intergovernmental aid by increasing property tax revenues. Second, they significantly shifted the composition of expenditures …

Establishing An Institutional Framework For The Handicrafts Clusters In Egypt/ إنشاء إطار مؤسسي لتجمعات الحرف اليدوية في مصر, Dina Elkhishin, Mariam Walid, Nada Kassem, Noheir Khairy

Papers, Posters, and Presentations

The Egyptian handicrafts sector, which employs more than a million Egyptians, and contributes to local economic growth and to the export market, has a lot of potentials but faces numerous challenges. Aware of the potential of the sector, the Egyptian government is currently focusing on the development of handicrafts, mostly organized as clusters. Nevertheless, artisans face numerous challenges, some of which are related to access to financial resources and raw materials, access to markets especially international ones, access to marketing opportunities, access to technical know-how, among others. Whilst handicrafts production is mostly cluster-based in Egypt, it is highly informal. One …

Comparative Analysis Of Racist Implications Of The Welfare State In The U.S. Vs. U.K. Through Child Benefits, Furaha Njoroge

CMC Senior Theses

This thesis explores America’s narratives surrounding safety net, varying history of child benefits and welfare between the U.S and U.K., newfound research regarding England’s programs, implicit bias, and interviews and scholarly reports of relevant experts. By comparing the welfare states of both the U.S and the U.K, it is proven how racism is both deeply rooted in how citizens of both countries perceive safety nets, and has thus led to the exclusion of racial minorities in both welfare systems. Specifically, looking at child benefits, we can determine these negative impacts and policies erected which further oppress Black Americans, the Black …

Education Inequality In The United States: A Wicked Problem With A Wicked Solution, Lincoln Bernard

CMC Senior Theses

A problem wicked in its complexity and detriment; the United States has failed most of its students in its inability to address the unashamedly rampant inequality throughout its public education system. The inequality in American public schools appears evident and boundless, but the causes of that inequality, and especially its solutions, are not as obvious. It is easy to explain away the system’s failures as a product of the United States’ ultra-varied environment, but further investigation reveals much of the systems problems are self-caused, resulting from the United States’ uniquely local approach to supporting its schools. A misguided fear of …

Impacts Of Forest Tax Programs On Property Tax Rates In Michigan's Upper Peninsula And Northern Wisconsin, Elsa Schwartz

Dissertations, Master's Theses and Master's Reports

Forest tax programs offer reduced property taxes to private forest owners as incentive to sustainably manage their forests and to encourage the provision of ecosystem services. They also protect forests from conversion to other land uses and ensure the viable supply of timber for forest products industries. Despite the benefits that these programs provide, they can negatively impact local municipalities by reducing the property tax base, which can then cause local governments to increase tax rates for non-preferential properties in order to maintain revenue needed to run their services. This shifts the tax burden from participating properties to nonparticipating properties. …