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Many U.S. large public corporations spend their tax cuts on new dividend payout and share buyback but not on new job creation and R&D innovation. These

As the White House economic director, Gary Cohn suggests that the Trump administration will tackle tax cuts after the administration *repeals and replaces*

David Colander and Craig Freedman argue that economics went wrong when there was no neoclassical firewall between economic theories and policy reforms. D

U.S. federalism and domestic institutional arrangements A given country is federal when both of its national and sub-national governments exercise separa

Federal Reserve publishes its inaugural flagship financial stability report. Fed Chair Jerome Powell applauds both low inflation (2%) and low unemployment (

Uniform field theory of corporate finance While the agency and precautionary-motive stories are complementary, these stories can be nested as special cas