Economic Report of the President, Transmitted to the Congress March 2014 Together With the Annual Report of the Council of Economic Advisors

Economic Report of the President, Transmitted to the Congress March 2014 Together With the Annual Report of the Council of Economic Advisors
Title:
Economic Report of the President, Transmitted to the Congress March 2014 Together With the Annual Report of the Council of Economic Advisors
Format:
Paperback
USA Price: 
Stock:
Low stock
GPO Stock Number:
040-000-00791-1
ISBN:
9780160923012
Description

Updated -- new and current edition -- Economic Report of the President, Transmitted to the Congress February 2016
Economic Report of the President, Transmitted to the Congress February 2016 Together With the Annual Report of the Council of Economic Advisers
can be found here: https://bookstore.gpo.gov/products/sku/040-000-00794-6?ctid=42

Contains the Economic Report of the President as transmitted to the Congress in March 2014, together with The Annual Report of the Council of Economic Advisers and the Statistical Appendix, and includes many charts and graphs in full color.

The White House describes the 2014 Report:

"It discusses the progress that has been made in recovering from the worst recession since the Great Depression, and President Obama’s agenda to build on this progress by creating jobs and expanding economic opportunity. This year’s report highlights steps the Obama Administration is taking to address three key imperatives: continuing to restore the economy to its full potential, expanding the economy’s potential over the long-run, and ensuring that all Americans have the opportunity to realize their full individual potential."

Gives a report card of the economy five years after the economic crisis and Administration and legislative fiscal responses. Provides an overview of the American Recovery and Reinvestment Act and its economic impact on individuals and near and long-term growth in the United States. Reviews the progress after 50 years of the War on Poverty and measures poverty, defining who is poor in America.  The Economic Report of the President provides an overview on the Nation's economic conditions.

 

Related items:

U.S. Federal Budgets by Year product collection can be found here: https://bookstore.gpo.gov/catalog/budget-economy/federal-budgets-year

Economic Policy resources collection can be found here: https://bookstore.gpo.gov/catalog/budget-economy/economic-policy

 

Table of Contents

Table of Contents:

Economic Report of the President – 1

Annual Report of the Council of Economic Advisers* - 7

CHAPTER 1 --PROMOTING OPPORTUNITY AND SHARED, SUSTAINABLE GROWTH - 21

THE ECONOMY FIVE YEARS AFTER THE CRISIS 23
HOW WE GOT HERE: THE ADMINISTRATION’S RESPONSE TO THE CRISIS --26
SOURCES OF OPPORTUNITY IN 2014 AND BEYOND --28
Cyclical Factors --29
Structural Trends  --30
Long-Term Fiscal Sustainability --33

THE CHALLENGES THAT REMAIN AND THE PRESIDENT’S PLANS TO ADDRESS THEM --34
Continuing to Restore the Economy to its Full Potential --34
Expanding the Economy’s Potential --37
Promoting Economic Opportunity --40

CONCLUSION –43

CHAPTER 2 -- THE YEAR IN REVIEW AND THE YEARS AHEAD --45

KEY EVENTS OF 2013 -- 46
Aggregate Output Growth During the Year --46
Fiscal Policy  -- 47
Monetary Policy --50
Financial Markets --51
International Developments --53

DEVELOPMENTS IN 2013 AND THE NEAR-TERM OUTLOOK --56
Consumer Spending -- 56
Business Investment --59
State and Local Governments --62
International Trade -- 64
Housing Markets -- 67
Energy -- 72
Labor Markets -- 76
Wage Growth and Price Inflation -- 81

THE LONG-TERM OUTLOOK -- 84
The 11-Year Forecast -- 84
Growth in GDP over the Long Term -- 86

CONCLUSION --89

CHAPTER 3. THE ECONOMIC IMPACT OF THE AMERICAN RECOVERY AND REINVESTMENT ACT FIVE YEARS LATER –91

THE 2007-09 RECESSION AND THE EARLY POLICY RESPONSES --93
Initial Policy Responses –94

AN OVERVIEW OF THE RECOVERY ACT AND SUBSEQUENT JOBS MEASURES --95
The Recovery Act --96
Subsequent Jobs Measures -- 99
Automatic Countercyclical Measures -- 100
Total Fiscal Response -- 103

NEAR-TERM MACROECONOMIC EFFECTS OF THE RECOVERY ACT AND SUBSEQUENT FISCAL LEGISLATION – 103
Model-Based Estimates of the Macroeconomic Effects of the Recovery Act and Subsequent Fiscal Legislation --105
Cross-State Evidence – 111
International Comparison --114
Benchmarking the Economy’s Performance Since 2009 –114

EFFECTS OF THE RECOVERY ACT IN PROVIDING RELIEF FOR INDIVIDUALS --117
Tax Cuts for Families -- 118
Unemployment Insurance – 119

THE EFFECT OF THE RECOVERY ACT ON LONG-TERM GROWTH -- 122
Protecting and Expanding Investments in Physical Capital -- 123
Protecting and Expanding Investments in Human Capital  -- 126
Investments in Technology and Innovation -- 128
Fiscal Sustainability and the Recovery Act – 131

CONCLUSION -- 132

APPENDIX 1: COMPONENTS OF THE RECOVERY ACT AND SUBSEQUENT FISCAL MEASURES -- 133
Tax Relief -- 134
Aid to Affected Individuals -- 136
State Fiscal Relief--137
Investments --138
Subsequent Fiscal Measures –139

APPENDIX 2: FISCAL MULTIPLIERS: THEORY AND EMPIRICAL EVIDENCE -- 139
Forward-Looking Models with Rigidities --141
Time Series Evidence --142
Cross-Sectional Multipliers  --145

CHAPTER 4 --RECENT TRENDS IN HEALTH CARE COSTS, THEIR IMPACT ON THE ECONOMY, AND THE ROLE OF THE AFFORDABLE CARE ACT --147

RECENT TRENDS IN HEALTH CARE COSTS --150
WHAT IS HAPPENING NOW, AND WHAT WILL HAPPEN NEXT? –156
The Role of the 2007-09 Recession --156
Non-ACA Factors Affecting Health Spending Growth --160
The Role of the Affordable Care Act --162
ECONOMIC BENEFITS OF SLOW HEALTH SPENDING GROWTH --171
Higher Living Standards --171
Lower Deficits --173
Higher Employment and Economic Growth --176
CONCLUSION –178

CHAPTER 5. FOSTERING PRODUCTIVITY GROWTH – 179

TRENDS IN TOTAL FACTOR PRODUCTIVITY -- 181
Labor Productivity, Total Factor Productivity, and Multifactor Productivity --181
Postwar US Productivity Growth – 182

PRODUCTIVITY GROWTH AND INEQUALITY GROWTH --189
Trends in Inequality, Productivity Growth, and Compensation --189
Technological Change and Inequality --190

POLICIES TO FOSTER PRODUCTIVITY GROWTH AND TO HELP ENSURE THAT EVERYONE BENEFITS FROM IT – 193
TELECOMMUNICATIONS AND PRODUCTIVITY GROWTH -- 197
Innovation and Investment --197
Four Key Areas for Telecommunications Policy --198
Challenges to Broad Adoption of Telecommunications Technology –209

PATENTS --212
Standard-Essential Patents --213
Patent Assertion Entities – 215

CONCLUSION –217

CHAPTER 6. THE WAR ON POVERTY 50 YEARS LATER: A PROGRESS REPORT -- 221

MEASURING POVERTY: WHO IS POOR IN AMERICA? -- 223
Measuring Poverty -- 223
The Official Poverty Measure -- 223
The Supplemental Poverty Measure -- 225
Who is Poor? -- 228
Employment -- 229
Education Level --230
Children --230
The Elderly --230
Women --232
Race and Ethnicity --232
People with Disabilities --233
Rural and Urban Communities –233

ASSESSING THE WAR ON POVERTY --234
Context -- 234
Correcting the Historical Account of Poverty Since the 1960s -- 240
Measuring the Direct Impact of Antipoverty Efforts –242

THE ROLE OF ANTIPOVERTY PROGRAMS: A CLOSER LOOK -- 245
Antipoverty Effects of Specific Programs -- 245
The Effects of Antipoverty Programs on Work and Earnings --248
Economic Mobility --252
Intergenerational Returns -- 255

THE OBAMA ADMINISTRATION’S RECORD AND AGENDA TO STRENGTHEN ECONOMIC SECURITY AND INCREASE OPPORTUNITY --258
Taking Immediate Action During the Economic Crisis --258
Expanding Health Care Security --260
Rewarding Work --260
Empowering Every Child with a Quality Education --263
Creating Jobs and Growing Our Economy  -- 265
Investing in and Rebuilding Hard-Hit Communities -- 265
CONCLUSION –266

CHAPTER 7. EVALUATION AS A TOOL FOR IMPROVING FEDERAL PROGRAMS -- 269

CONDUCTING RIGOROUS IMPACT EVALUATIONS IN FEDERAL PROGRAMS -- 271
Estimation of Causal Effects of a Program or Intervention -- 272
Other Criteria for High-Quality, Successful Impact Evaluations --274
Lower-Cost Ways for Impact Evaluations to Facilitate Real-Time Learning –275

IMPACT OF THE EVIDENCE-BASED AGENDA --278
Uses of Evaluation --278
Building Evidence when Existing Evidence is Limited –283

FURTHERING THE EVIDENCE AGENDA -- 286
Legislative Support for Evaluation -- 287
Building Evaluation into the Design of Programs --290
Developing the Capacity to Link to Other Administrative and Survey Data Sources --294
Facilitating Researcher Access to Federal Data while Protecting Privacy – 296

CONCLUSION --297

REFERENCES -- 299

Audience

Economists, government officials, and others interested in economics would find this report informative.

Product Details

Availability Details:
In Stock
USA Price:
$23.50
International Price:
$32.90
Publisher:
Executive Office of the President, Council of Economic Advisors
Key Phrases:
  • Economic Conditions
Weight:
1.4375
Quantity Price:
Discount
Cover:
Paper
Unit of Issue (US):
1
Unit of Issue (Non-US):
1
Item available Date:
02/11/2014
Last Status Update:
10/03/2018
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