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February 8, 2024
Tuesday, I published a critique of a paper by Council of Economic Advisers senior economist Jacob Bastian related to the debate over expanding the child tax credit (CTC). In that paper, Bastian sought to discredit analyses claiming that single mothers are highly sensitive to work incentives. Specifically, he argued that the “labor supply elasticities” used…
February 7, 2024
At their best, safety net policies in the US reduce poverty by spurring upward mobility among the most disadvantaged. This requires identifying disadvantaged families and scaling benefits according to their need, all while trying to encourage employment and other mobility-inducing behaviors in the process. When safety net programs do not meet this charge, families can…
January 31, 2024
The Wyden-Smith tax bill under consideration in the House has rekindled a debate about the Child Tax Credit (CTC) and work incentives. We, along with our colleagues, Angela Rachidi and Matt Weidinger, recently released an analysis of the incentives built into one overlooked feature of the CTC reforms proposed in the bill—the so-called “look-back” provision….
January 30, 2024
Let’s start with a table. (With apologies to our mobile audience…) Evidence on Extensive Margin Employment Elasticities for Single Mothers Reported Revised Consistent w/ 0.75? Notes Reviews or Based on Reviews Corinth et al. (2021, rev 2022) 0.75 — p. 22; based on midpoint of McClelland and Mok (2012), p. 5 (below); unpublished…
December 11, 2023
A recent column by John Burn-Murdoch in the Financial Times presents statistics side-by-side showing that “the wealthiest Americans are the richest people in the developed world, but America’s poorest are also the most likely to go hungry.” The chart buttressing the latter part of that conclusion shows that in over 12 percent of American households,…
October 5, 2023
American Compass has a new survey out in which it finds, among other results, that “only 40 percent of workers have secure jobs.” This is the latest attempt by the outfit to portray the American economy as in dire need of “rebuilding.” The report summarizing the findings is titled, “Labor Market Not Yet Working for…
October 5, 2023
In this post I discuss the policy implications of declaring the Supplemental Poverty Measure the new official measure, an action that could be taken unilaterally by the Director of the Office of Management and Budget without any input from Congress. First, I report how eligibility for major means-tested programs would substantially rise in higher income…
September 27, 2023
For all that Utah is doing well, a concerning trend has surfaced amongst boys and men in the state.
September 15, 2023
On Tuesday, the Census Bureau released its latest income and poverty estimates covering calendar year 2022, including two assessments of poverty in America. One, called the Official Poverty Measure (OPM), focuses on earnings and cash-like government benefits, such as Social Security, unemployment, and welfare checks. A second, known as the Supplemental Poverty Measure (SPM), also…
September 6, 2023
The shock of the COVID-19 pandemic created urgent demand for “high frequency” national statistics. Prior to the pandemic, many economic indicators were available only on an annual basis (or even less frequently). One important exception was the unemployment rate, which the Bureau of Labor Statistics estimates every month. The unemployment rate jumped more than threefold—from…