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Federal funding for research and development (R&D) and R&D plant (facilities and fixed equipment) totaled $131.4 billion in Fiscal Year (FY) 2015, a 1 percent decrease from the previous year, accordin...
Federal budget authority for research and development (R&D) rose in Fiscal Year (FY) 2016, the third straight year of current dollar increases, according to a new report from the National Ce...
Federal funding for research rose by $3.7 billion, or 6 percent, between fiscal years (FY) 2013 and 2014, according to a new InfoBrief from the National Center for Science and Engineering St...
The process through which Federal Reserve decisions about monetary policy are transmitted to the federal funds market has changed significantly in recent years. In 1994 the Federal Open Market Com...
The recent increase came about as a direct result of the Fed’s decision to purchase securities and make loans to certain sectors and financial institutions. More specifically, the Fed financed these...
When Allan Meltzer published Volume 1 of the history of the Federal Reserve (Meltzer, 2003), it was received with wide acclaim. Bordo (2006), reviewing it in the Journal of Monetary Economics, praise...
The largest credit or liquidity program created by the Federal Reserve during the financial crisis was the mortgagebacked securities (MBS) purchase program. In this paper, we examine the quantitati...
Bond yields respond to policy decisions by the Federal Reserve and vice versa. To learn about these responses, I model a high-frequency policy rule based on yield curve information and an arbitrage-...
Choice and Federalism Defining the Federal Role in Education.
Three tax credits benefit households who pay tuition and fees for higher education. The credits have been justified as an investment: generating more educated people and thus more earnings and externa...
This paper examines the implications of alternative allowance allocation designs for industry profits and GDP under a federal cap-and-trade program to reduce greenhouse gas emissions. We employ a gene...
This paper reveals significant unintended consequences from recent 14-state efforts to reduce greenhouse gas emissions through limits on greenhouse gases per mile from new cars. We show that while suc...
Economists have tended to view emissions pricing (e.g., cap and trade or a carbon tax) as the most cost-effective approach to reducing greenhouse gas emissions. This paper offers a different view. Emp...
Federal agency funding for research and development and R&D plant (facilities and fixed equipment used for R&D) fell by 9 percent in fiscal year 2013, according to a new InfoBrief from the N...

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