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Government Spending and Economic Growth in Nebraska since 1997

March 10, 2017

Mercatus recently released a study that examines Nebraska’s budget, budgetary rules and economy. As the study points out, Nebraska, like many other states, consistently faces budgeting problems. State officials are confronted by a variety of competing interests looking for more state funding—schools, health services and public pensions to name a few—and attempts to placate each […]

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An Overview of the Virginia State Budget and Economy

March 6, 2017

By Adam Millsap and Thomas Savidge Virginia’s economy has steadily grown over time in spite of expenditures outpacing revenues each year since 2007. However, economic growth within the state is not evenly distributed geographically. We examine Virginia’s revenue and expenditure trends, highlighting the sources of Virginia’s revenue and where it spends money. Then we discuss […]

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Innovation and economic growth in the early 20th century and lessons for today

February 22, 2017

Economic growth is vital for improving our lives and the primary long-run determinant of economic growth is innovation. More innovation means better products, more choices for consumers and a higher standard of living. Worldwide, hundreds of millions of people have been lifted out of poverty due to the economic growth that has occurred in many […]

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Why Do We Get So Much Regulation?

February 17, 2017

Over the past 60 or 70 years, levels of regulation in the United States have been on the rise by almost any measure. As evidence, in the year 1950 there were only 9,745 pages in the US Code of Federal Regulations. Today that number is over 178,000 pages. There is less information about regulation at […]

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High-speed rail: is this year different?

February 8, 2017

Many U.S. cities are racing to develop high speed rail systems that shorten commute times and develop the economy for residents. These trains are able to reach speeds over 124 mph, sometimes even as high as 374 mph as in the case of Japan’s record-breaking trains. Despite this potential, American cities haven’t quite had the […]

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Economic policies and institutions matter

February 3, 2017

Economists often talk about the important role institutions and policies play in generating economic growth. A new paper that examines the role of urban governance and city-level productivity provides some additional, indirect evidence that institutions and policies impact economic productivity at the local level. (The focus of the paper is how administrative fragmentation affects city-level […]

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Why the lack of labor mobility in the U.S. is a problem and how we can fix it

January 26, 2017

Many researchers have found evidence that mobility in the U.S. is declining. More specifically, it doesn’t appear that people move from places with weaker economies to places with stronger economies as consistently as they did in the past. Two sets of figures from a paper by Peter Ganong and Daniel Shoag succinctly show this decline […]

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Decreasing congestion with driverless cars

January 17, 2017

Traffic is aggravating. Especially for San Francisco residents. According to Texas A&M Transportation Institute, traffic congestion in the San Francisco-Oakland CA area costs the average auto commuter 78 hours per year in extra travel time, $1,675 for their travel time delays, and an extra 33 gallons of gas compared to free-flow traffic conditions. That means […]

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Today’s public policies exacerbate our differences

January 3, 2017

The evidence that land-use regulations harm potential migrants keeps piling up. A recent paper in the Journal of Urban Economics finds that young workers (age 22 – 26) of average ability who enter the labor force in a large city (metropolitan areas with a population > 1.5 million) earn a wage premium equal 22.9% after […]

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Solving the Public Pension Crisis

December 13, 2016

Last week I had the pleasure of attending a public policy conference that brought together many scholars who study public pensions to share what they have learned from their research. The crisis – growing unfunded pension liabilities and resulting fiscal distress for states and municipalities – laid as the foundation of the day. Hosted by […]

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