Skill Mismatches in the U.S. Labor Market

The slow recovery in the United States from the Great Recession has been characterized by an unusually high unemployment rate. Observers have disagreed about the relative importance of skill mismatch and insufficient aggregate demand as causes of high unemployment. The two explanations are not mutually exclusive, but Paul Krugman (2014) has taken a strong position […]

Does the West Have Economic Levers to Influence Russian Foreign Policy?

The financial markets have reacted frantically to Russia’s invasion of Crimea – the rouble has weakened despite the Central Bank of Russia intervening massively to prop it up, share prices on the Moscow stock exchange have collapsed and there are reports of significant capital flight from Russia. The West has decided on a travel ban […]

The U.S. Faces an Unusual Opportunity to Expand Trade

The United States faces an opportunity to improve its own prosperity and that of major European and Asian partners. The U.S. is currently negotiating separate trade agreement with the European Union and with Trans-Pacific partner countries from a rapidly growing region of the world. Both sets of negotiations have proceeded in spite of protectionist pressures […]