Business Economics

Professional journal of the National Association of Business Economists covering topics such as macro and microeconomics, monetary and fiscal policy, business forecasting, international economics, and deregulation.

Articles from Vol. 44, No. 3, July

An Economist's Role in Disaster Mitigation at FEMA
Business Economics (2009) 44, 177-181. doi:10.1057/be.2009.17 Economists played their (1) first role in disaster mitigation fieldwork in 2004. As the first economist hired, I have had the opportunity to shape the role of economics at the Federal...
Capital Ideas Evolving
By Peter L Bernstein. 2009. New York: John Wiley & Sons, pp. 304, $29.92 hardcover. 16.95, paperback. Business Economics (2009) 44, 183-184. doi:10.1057/be.2009.19 In 1992, Peter Bernstein published Capital Ideas (New York: The Fee Press),...
Fiscal Policy and Economic Recovery
The American Recovery and Reinvestment Act of 2009 is the biggest, boldest countercyclical fiscal stimulus in American history. What is its likely impact? Current econometric models indicate that a tax cut is likely to have a multiplier of about 1.0...
Four Long-Term Fiscal Realities
The United States faces a long-run fiscal imbalance because of rapid projected growth in Social Security, Medicare, and Medicaid spending. The policy response to the imbalance will be shaped by four long-term fiscal realities. First, revenue will rise...
From the Editor
Business Economics (2009) 44, 129. doi:10.1057/be.2009.20 It was not surprising that the current banking crisis and recession held center stage at NABE's 25th annual Washington Economic Policy Conference, held in March. We do, indeed, "live in...
Getting off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis
By John B. Taylor. 2009. Hoover Institution Press. Pp. 92, $14.95 hardcover. Business Economics (2009) 44, 182-183. doi:10.1057/be.2009.16 In Getting Off Track, John B. Taylor proposes that the financial crisis was "caused, prolonged, and...
Globalization of the U.S. Food Supply: Reconciling Product Safety Regulation with Free Trade
The pet food recall in the spring of 2007, its aftermath, and other reports of contaminated food imports have had an adverse affect on the American shopper's confidence in the safety of the nation's food supply. This paper argues that the responsibility...
Government Lending and Monetary Policy
The financial dimension of the current contraction has brought a historic expansion in government lending to financial market participants, mostly through an expanding array of Federal Reserve (Fed) initiatives. This contrasts with the Fed's typical...
In Memoriam: Edmund A. Mennis
Business Economics (2009) 44, 130-131. doi:10.1057/be.2009.21 Ed was a friend of business economists and a staunch supporter of NABE. He was a member of our association from its inception in 1959. He was elected as a Fellow of NABE in 1961 and served...
Trade Policy and the Obama Administration
During his primary campaign, President Obama took an aggressive stance on trade, suggesting a protectionist drift in U.S. trade policy. However, it seems more likely that policy will focus more on enforcement of existing rights than on protectionist...
World Mining Machinery
Business Economics (2009) 44, 169-176. doi:10.1057/be.2009.2 World gross domestic product rose between 4 and 5 percent per annum during the 2001-06 period and should stay at about the same pace during 2006-11. In contrast, the growth in global...