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Taylor & Francis Journals Auto-Holdings Collection
Beschreibungen/Notizen
In an interview, Alan S. Blinder, Professor of Economics at Princeton University, discussed the US economy and economic policy. It is his belief that the 1991 recession was an average-sized post-war recession. Recovery, however, has been slow. According to Blinder, the current recovery has been underway for 5 quarters. The average growth rate in this period is 1.6%, far below the historic norm of 4% to 6% during the 18 months following a recession trough. To spur long-term productivity growth, Blinder advocates a 2-pronged policy response based on fiscal stimulus. This approach would include a temporary investment tax credit and temporary assistance to states and cities, perhaps in the form of interest-free loans or temporary grants in aid, keyed to places where it would go to public infrastructure investment. Blinder said that a Keynesian restoration is in place, as evidenced by the events of the last 8 years.