Argentina has, in the last 120 years, fallen from one of the richest countries in the world to one that has seen numerous episodes when national income cratered, multiple debt defaults (forcing it to turn repeatedly to the IMF for bailouts), and hyperinflation. What have been the sources of these crises? Are the radical plans of the country’s new president, Javier Milei, likely to turn the corner on the past? Alejandro Werner joins EconoFact Senior Advisor Charles Collyns to discuss the history of Argentina’s economy, the problems it currently faces, and its prospects for recovery. Currently D ..read more

In 2019, the U.S. Congressional Budget Office projected that net immigration in 2023 would total 1 million. More recent estimates from the agency put net immigration for 2023 at 3.3 million. How has increased immigration affected the post-COVID economic recovery in the U.S.? More broadly, what role does immigration play in the American economy? What parts of the economy are particularly dependent on non-native born workers? And with low birth rates, how important is immigration for continued economic growth, and for the solvency of Social Security and Medicare? Tara Watson joins EconoFact Chat ..read more

In the wake of COVID, many colleges dropped SAT and ACT test requirements. Recently however, schools including Dartmouth, Yale, and Brown have mandated standardized test scores once again. Could the move hurt less economically privileged applicants? David Deming joins EconoFact Chats to highlight that even though standardized tests can be gamed by more privileged students through extensive test preparation, and retaking of tests, they remain less biased than other factors that can help students stand out in the admissions process. And getting rid of standardized testing, or even going ‘test op ..read more

A center-right economic policy agenda has traditionally meant a focus on lower marginal tax rates, fiscal prudence, an openness to immigration, free trade and globalization. In recent years however, there has been significant change in the Republican Party's stance on some of these issues -- especially trade and immigration. Michael Strain of the American Enterprise Institute (AEI) joins EconoFact Chats to highlight some of the factors driving these changes, and to discuss whether current Republican views on trade and immigration are likely to stay over coming election cycles Michael is the Di ..read more

Economic analysis does not offer many answers when it comes to valuing efficiency gains versus disruptions to people and communities from changes brought about by international trade or technological change. Jeff Frieden joins EconoFact Chats to highlight that politics, while often messy, remains one of the only ways societies put a value on things economists can’t easily measure. Jeff is a Professor of Government at Harvard University. His research focuses on the politics of international economic relations ..read more

At over $840 billion, the United States Department of Defense budget request for 2024 accounts for ~3% of national income, almost half of all Federal discretionary budget outlays, and over 35% of global military spending. Michael E. O’Hanlon of the Brookings Institution joins EconoFact Chats to put these figures in historical context, and discuss how decisions about the size and type of defense expenditures the U.S. undertakes are made. Michael is a Senior Fellow and the Director of Research in Foreign Policy at the Brookings Institution. He also serves as a member of the Defense Policy Board ..read more

Much of global trade in goods and services is denominated in U.S. dollars. The dollar is widely used for bilateral trade between countries other than the United States. And the use of the dollar is even more dominant in global financial transactions. What advantages accrue to the United States from the dominance of the dollar? Are there costs associated with it as well? Does the importance of the dollar require a special role for the Federal Reserve at times of crises? Linda Goldberg, a Financial Research Advisor at the Federal Reserve Bank of New York joins EconoFact Chats to discuss these is ..read more

The Bureau of Labor Statistics samples about 80,000 products and services each month to estimate headline inflation. But the published inflation rate, like many other aggregate statistics, masks very different price changes across categories of goods. What information can we glean from a more fine-grained look at price changes across more disaggregated categories of goods and services, or even particular products? EconoFact Chats welcomes back Alberto Cavallo to discuss insights from his analysis of over a billion prices, focusing on whether recent inflation dynamics across countries have ..read more

The Supplemental Poverty Measure put the 2022 U.S. child poverty rate at 12%, more than double the 5% rate in 2021. Child poverty is especially high for families with children under 5, children in single-mother households, children of color, and children in immigrant families. Even families who are not poor face financial burdens and difficulties, especially with respect to securing good, safe, and reliable childcare. The Annie E. Casey Foundation has been at the forefront of documenting the challenges facing children and their families, and suggesting policies to alleviate these problems. Lis ..read more

The world is facing a 'poly-crisis' of interconnected economic, environmental, geo-political, and governance challenges. Lawrence Summers is particularly well placed to discuss these issues, given his wide experience in government, and the impact his research has had on economics. In a wide-ranging discussion, Larry discusses the unprecedented fall in world poverty over the past half-century, the role of America in fostering a well-functioning rules-based global system, the current experience with inflation, policies to address inequality, and the role of economists in policy making. Larry is ..read more