Book Reviews

2021 ◽  
Vol 59 (1) ◽  
pp. 289-291

Anjan V. Thakor of Washington University in St. Louis reviews “TARP and Other Bank Bailouts and Bail-Ins around the World: Connecting Wall Street, Main Street, and the Financial System,” by Allen N. Berger and Raluca A. Roman. The Econlit abstract of this book begins: “Analyzes theoretical and empirical research evidence on the Troubled Asset Relief Program (TARP) in the United States and other bank bailouts and bail-ins in the US and around the world, assessing the important costs and benefits of these programs in order to suggest potential policy implications for the future.”

Author(s):  
Aaron B. Wagner ◽  
Elaine L. Hill ◽  
Sean E. Ryan ◽  
Ziteng Sun ◽  
Grace Deng ◽  
...  

AbstractSocial distancing measures, with varying degrees of restriction, have been imposed around the world in order to stem the spread of COVID-19. In this work we analyze the effect of current social distancing measures in the United States. We quantify the reduction in doubling rate, by state, that is associated with social distancing. We find that social distancing is associated with a statistically-significant reduction in the doubling rate for all but three states. At the same time, we do not find significant evidence that social distancing has resulted in a reduction in the number of daily confirmed cases. Instead, social distancing has merely stabilized the spread of the disease. We provide an illustration of our findings for each state, including point estimates of the effective reproduction number, R, both with and without social distancing. We also discuss the policy implications of our findings.


Public Choice ◽  
2021 ◽  
Author(s):  
Vuk Vukovic

AbstractIn 2008, as the financial crisis unfolded in the United States, the banking industry elevated its lobbying and campaign spending activities. By the end of 2008, and during 2009, the biggest political spenders, on average, received the largest bailout packages. Is that relationship causal? In this paper, I examine the effect of political connections on the allocation of funds from the Troubled Asset Relief Program (TARP) to the US financial services industry during the 2008–2009 financial crisis. I find that TARP recipients that lobbied the government, donated to political campaigns, or whose top executives had direct connections to politics received better bailout deals. I estimate regression discontinuity design and instrumental variable models to uncover how election outcomes for politicians in close races affected the distribution of bailout funds for connected firms. The results do not imply that some banks were deliberately favored over others, just that favored banks benefited because of their proximity to the right people in power. If being politically connected matters in general, in times of crisis it matters even more.


Author(s):  
Sue Anne Bell ◽  
Lydia Krienke ◽  
Kathryn Quanstrom

Abstract Alternate care sites across the US were widely underutilized during the COVID-19 outbreak, while the volume and severity of COVID-19 cases overwhelmed health systems across the United States. The challenges presented by the pandemic have shown the need to design surge capacity principles with consideration for demand that strains multiple response capabilities. We reviewed current policy and previous literature from past ACS as well as highlight challenges from the COVID-19 pandemic, to make recommendations that can inform future surge capacity planning. Our recommendations include: 1) Preparedness actions need to be continuous and flexible; 2) Staffing needs must be met as they arise with solutions that are specific to the pandemic; 3) Health equity must be a focus of ACS establishment and planning; and 4) ACS should be designed to function without compromising safe and effective care. A critical opportunity exists to identify improvements for future use of ACS in pandemics.


Author(s):  
Sarah Raifman ◽  
M. Antonia Biggs ◽  
Lauren Ralph ◽  
Katherine Ehrenreich ◽  
Daniel Grossman

Abstract Introduction Twenty-four states have at least one law in place that could be used to prosecute people for self-managed abortion (SMA), or the termination of a pregnancy outside of the formal healthcare system. We investigated factors associated with public attitudes about SMA legality and legal access to abortion more generally. Methods In August 2017, we surveyed a nationally representative sample of English- and Spanish-speaking women ages 18–49 years in the United States (US) using Ipsos Public Affairs’ KnowledgePanel. Unadjusted and adjusted multinomial logistic regression estimates identify characteristics associated with believing that SMA should not be against the law, compared to should be against the law, with weighting to account for sampling into the panel. Results Overall, 76% (95% CI: 74.3%-77.1%) and 59% (95% CI: 57.3%-60.4%) of participants (n = 7,022, completion rate 50%) reported that abortion and SMA, respectively, should not be against the law; 1% and 19% were unsure. Among those living in a state with at least one law that could be used to prosecute an individual for SMA, the majority (55%, 95% CI: 52.7%-57.9%) believed SMA should not be against the law. Factors associated with believing SMA should not be against the law, compared to should be against the law, included prior abortion experience and higher levels of education and income. Conclusion Most reproductive age women in the US believe that SMA should not be criminalized. There is more uncertainty about SMA legality than about the legality of abortion more generally. Policy Implications US laws that criminalize SMA are not supported by the majority of the people living in their jurisdictions.


2021 ◽  
Vol 20 (1) ◽  
Author(s):  
Brittany Kovacs ◽  
Lindsey Miller ◽  
Martin C. Heller ◽  
Donald Rose

Abstract Background Do the environmental impacts inherent in national food-based dietary guidelines (FBDG) vary around the world, and, if so, how? Most previous studies that consider this question focus on a single country or compare countries’ guidelines without controlling for differences in country-level consumption patterns. To address this gap, we model the carbon footprint of the dietary guidelines from seven different countries, examine the key contributors to this, and control for consumption differences between countries. Methods In this purposive sample, we obtained FBDG from national sources for Germany, India, the Netherlands, Oman, Thailand, Uruguay, and the United States. These were used to structure recommended diets using 6 food groups: protein foods, dairy, grains, fruits, vegetables, and oils/fats. To determine specific quantities of individual foods within these groups, we used data on food supplies available for human consumption for each country from the UN Food and Agriculture Organization’s food balance sheets. The greenhouse gas emissions (GHGE) used to produce the foods in these consumption patterns were linked from our own database, constructed from an exhaustive review of the life cycle assessment literature. All guidelines were scaled to a 2000-kcal diet. Results Daily recommended amounts of dairy foods ranged from a low of 118 ml/d for Oman to a high of 710 ml/d for the US. The GHGE associated with these two recommendations were 0.17 and 1.10 kg CO2-eq/d, respectively. The GHGE associated with the protein food recommendations ranged from 0.03 kg CO2-eq/d in India  to 1.84 kg CO2-eq/d in the US, for recommended amounts of 75 g/d and 156 g/d, respectively. Overall, US recommendations had the highest carbon footprint at 3.83 kg CO2-eq/d, 4.5 times that of the recommended diet for India, which had the smallest footprint. After controlling for country-level consumption patterns by applying the US consumption pattern to all countries, US recommendations were still the highest, 19% and 47% higher than those of the Netherlands and Germany, respectively. Conclusions Despite our common human biology, FBDG vary tremendously from one country to the next, as do the associated carbon footprints of these guidelines. Understanding the carbon footprints of different recommendations can assist in future decision-making to incorporate environmental sustainability in dietary guidance.


2021 ◽  
Author(s):  
Sebastian Biba

Abstract As the Sino-American Great Power competition continues to intensify, newly-elected US President Joe Biden's administration now seeks to enlist the support of its allies and partners around the world. As Europe's largest economy and a, if not the, leading voice within the European Union, Germany represents an important puzzle-piece for Biden. But Germany, at least under outgoing chancellor Angela Merkel, has been reluctant to take sides. It is against this backdrop that this article looks into Germany's past and present trilateral relationships with the US and China through the theoretical lens of the so-called strategic triangle approach. Applying this approach, the article seeks to trace and explain German behaviour, as well as to elucidate the opportunities and pitfalls that have come with it. The article demonstrates that Germany's recently gained position as a ‘pivot’ (two positive bilateral relationships) between the US and Chinese ‘wings’ (positive bilateral relations with Germany and negative bilateral relations with each other) is desirable from the perspective of the strategic triangle. At the same time, being pivot is also challenging and hard to maintain. Alternative options, such as entering a US–German ‘marriage’ directed against China, are also problematic. The article therefore concludes that Germany has tough decisions to take going forward.


2021 ◽  
Vol 13 (04) ◽  
pp. 92-106
Author(s):  
Vitaly KOZYREV

The recent deterioration of US–China and US–Russia relations has stumbled the formation of a better world order in the 21st century. Washington’s concerns of the “great power realignment”, as well as its Manichean battle against China’s and Russia’s “illiberal regimes” have resulted in the activated alliance-building efforts between Beijing and Moscow, prompting the Biden administration to consider some wedging strategies. Despite their coordinated preparation to deter the US power, the Chinese and Russian leaderships seek to avert a conflict with Washington by diplomatic means, and the characteristic of their partnership is still leaving a “window of opportunity” for the United States to lever against the establishment of a formal Sino–Russian alliance.


2021 ◽  
Vol 24 (01) ◽  
pp. 2150003
Author(s):  
Daphne Wang ◽  
Robert Houmes ◽  
Thanh Ngo ◽  
Omar Esqueda

The Capital Purchase Program (CPP) was the first and most significant program under the Troubled Asset Relief Program (TARP) during 2008–2009 financial crisis. This study evaluates the effect of the CPP during this period on the cost of equity of 170 publicly listed banks in the United States that received funding. To control for the potential effects of endogeneity on our results, we use a propensity score matched sample of non-CPP banks. Using this approach, we document robust evidence that the liquidity provided by the government bailout reduced the cost of equity for recipient banks, especially for those banks that repaid their bailout funds in full. This decrease in the cost of equity is particularly significant for banks with high market-to-book ratios, low concentrations of institutional ownership, and those banks with at least one large blockholder. Our findings have important implications for the assessment of government bailout programs and the future regulation of financial institutions.


2021 ◽  
Author(s):  
Israa Daas ◽  

Abstract The Palestine-Israel conflict is probably one of the most pressing problems in the Middle East. Moreover, the United States has been involved in this conflict since the 1970s. Therefore, the present research aims to learn more about the American perception of the Palestinian-Israeli conflict. It was conducted using a survey that addressed Americans from different backgrounds, focusing on four variables: the American government’s position, solutions, the Israeli settlements, and Jerusalem. The research suggests a correlation between political party and the American perception of the conflict. It appears that Republicans seem to be against the withdrawal of the Israeli settlements, and they believe that the US government is not biased toward Israel. Nevertheless, Democrats tend to believe that the US government is biased in favor of Israel, and they support withdrawing the Israeli settlements. Moreover, there might be another correlation between the American perception and the source of information they use to learn about the conflict. Most of the surveyed Americans, whatever their resource of information that they use to learn about the conflict is, tend to believe that the US is biased in favor of Israel. It is crucial to know about the American perception when approaching to a solution to the conflict as the US is a mediator in this conflict, and a powerful country in the world. Especially because it has a permanent membership in the UN council. KEYWORDS: American Perception, Palestine-Israel Conflict, Jerusalem, Israeli settlements


2018 ◽  
Vol 74 (4) ◽  
pp. 402-419
Author(s):  
Krishnakumar S.

With Donald Trump as President of United States, multilateralism in the world economy is facing an unprecedented challenge. The international economic institutions that have evolved since the fifties are increasingly under the risk of being undermined. With the growing assertion of the emerging and developing economies in the international fora, United States is increasingly sceptical of its ability to maneuvre such institutions to suit its own purpose. This is particularly true with respect to WTO, based on “one country one vote” system. The tariff rate hikes initiated by the leader country in the recent past pose a serious challenge to the multilateral trading system. The paper tries to undertake a critical overview of the US pre-occupation of targeting economies on the basis of the bilateral merchandise trade surpluses of countries, through the trade legislations like Omnibus Act and Trade Facilitation Act. These legislations not only ignore the growing share of the United States in the growing invisibles trade in the world economy, but also read too much into the bilateral trade surpluses of economies with United States and the intervention done by them in the foreign exchange market.


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