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The Ledger 5/29/13

The Ledger 5/29/13

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Economic news, views, and cues from AEI's economic policy team
Economic news, views, and cues from AEI's economic policy team

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Categories:Types, Research
Published by: American Enterprise Institute on May 31, 2013
Copyright:Attribution Non-commercial


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Subject: Ten ways to create jobs, rising home prices, and a Nobel Prize winner takes on climate changeskeptics (AEI Economics Ledger)If you have trouble reading this message, click here to view it as a web page. 
Energy and environment 
Nobel Prize winner comes to AEI.
Nobel Prize winner  Thomas Schelling discussed climate change at
this week’s AEI event “Solar radiation management:
n evolving climate change option.”
Innovative (and affordable) strategies to thwart climate change. 
Solar radiation management (SRM) appears to promise at least some capacity to offset thewarming caused by the rising atmospheric green
house gas concentrations.”
Labor markets
Public pensions are underfunded by $4 trillion. 
Defendersof public employee
pensions argue that, while they’ve taken a hit in recent years, they’re fully sustainable for the future. Advocates of “fair market valuation” counter that plans are underfunded by an almost
-insurmountable $4
A three-part series about pension reform: 
Understanding thevaluation of public pension liabilities
on “
Understanding the legal limits on public pensionreform
“Understanding the argument for market valuation of public pension liabilities.”
Ten ways to create new jobs. 
:“[Republicans] need to show that they care about the
poor, the struggling, the vulnerable
and that they are willing to pitch in and help. A great place to startwould be tackling the most serious economic problem facing the country today
College graduates face an uncertain future. 
“Uncertainty about the
timing and scope of reform makes it difficult for young workers to make smart choices about work and
retirement. This uncertainty can be reduced by tackling Social Security reform now rather than later.”
The US has enough disabled Americans to populate Ohio. 
New Social Security Administration data show just shy of 11 million Americans
including workers and their family
receiving Social Security disability benefits. That’s up 24% since the sta
rt of the Great Recession
 Dynamic scoring of immigration reform reveals its true cost. 
“It’s hard to avoid the
conclusion that on a dollars-and-
cents level immigration reform won’t be a great deal for the people whomust pay the bill.”
Fiscal and monetary policy 
Who to watch on QE. 
Looking ahead, how should one gauge the Fed's plans for the QE
program and what would be a reasonable guess for the start of tapering? To judge the Fed's thinking, Iwould pay attention to speeches and interviews given by . . .
The wrong response to the IRS scandal.
:“If the sluggish US economy wasn’t reason
enough for tax reform, the ongoing IRS scandal demonstrates how a devilishly complex tax code enablesgovernment mischief. But the flat tax
a longtime policy goal for many on the right
isn’t the real
isticanswer to either problem.
Why rising home prices should worry you.
Rising home prices may be an indicationof easy money policy, not strong economic fundamentals. AEI scholar Ed Pinto warned in an op-ed thisspring that the Federal Reserve is blowing another housing bubble by keeping interest rates artificially
International economics
It’s too early to call Japan’s
new policy a failure. 
:“Considering that it generally
takes at least a year for the full impact of a currency depreciation to be felt, one has to expect that, in themonths ahead, the Japanese economy will get a big boost from the 25 percent effective Japanese yen
depreciation to date.”
Needless Japan jitters. 
Jitters in Japan about bond markets have caused the yen torise and the Nikkei to fall over the last week. . . . Maybe, s
ome are wondering, Japan really isn’t set toboom. Don’t buy the hype.”
China has the upper hand. 
:The EU’s blustery,
tough-guy trade commissioner Karel De Gucht is vowing to implement duties of 47% on all Chinese solar panels imported into EU
territory. Only problem is that at last count, 18 of the 27 members of the Union oppose him.”
In other (scary) news
Deposits guaranteed to $250,000, maybe.
:“Window stickers notwithstanding, Congress
apparently has never enacted a provision in a law simply stating that insured deposits are guaranteed by
the full faith and credit of the government.”
Mark your calendar 
 6.6 Weekly jobless claims are released.6.7 Monthly employment situation report is released.6.12
AEI Event: 
 Join us!
AEI Event: 
Join us!
AEI Event:
DC book release for 
“Balance: The Eco
nomics of Great Powers from Ancient Rome toModern America,
by Glenn Hubbard and Tim Kane.
Stay tuned for more details!
Sign up for a weekly copy of the LEDGER here. 
Read more from the American Enterprise Institute economic policy team at www.aei.org.  Questions or comments about what you read? Contact Abby at abby.mccloskey@aei.org. 
American Enterprise Institute for Public Policy Research | 1150 Seventeenth Street, NW,Washington DC 20036 | 202.862.5800 | www.aei.org 

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