Rethinking the Fed’s Framework: Lessons from the Post-Pandemic Inflation
The paper evaluates alternative frameworks and argues that the Fed should adopt either a nominal spending target or a symmetrical average inflation target.
What is Central Bank Independence?
The explainer defines central bank independence, describes its theoretical desirability, and reviews classic and contemporary studies on how central bank independence affects key macroeconomic variables.
Who Really Sets Tariffs—and How?
In this Explainer, we’ll seek to understand what tariffs are, who gets to set them, and under what conditions.
The Economic Tradeoffs of Property Tax Reform
How do property taxes work in the United States, and what are their economic consequences?
