Employment, Education, and the Time Use of American Youth. Brookings Institution. Lauren Bauer et al. September 5, 2019
The labor force participation rate is a key measure of
economic health. While the decline in prime-age workers’ labor force
participation receives much attention from policymakers, it is far outpaced by
the decline in participation among younger workers. In this analysis we show
how changing employment and school enrollment patterns have contributed to
declining labor force participation among youth, aged 16 to 24. Youth today are
not disengaged; rather, declines in youth labor force participation primarily
reflect a long-term but accelerating shift toward schooling and spending more
time on education-related activities. [Note: contains copyrighted
[PDF format, 26 pages].
Consumer Credit Reporting, Credit Bureaus, Credit Scoring, and Related Policy Issues. Congressional Research Service. Cheryl R. Cooper, Darryl E. Getter. Updated July 26, 2019
The consumer data industry—generally referred to as credit
reporting agencies or credit bureaus—collects and subsequently provides
information to firms about the behavior of consumers when they participate in
various financial transactions. Firms use consumer information to screen for
consumer risks. For example, lenders rely upon credit reports and scores to
determine the likelihood that prospective borrowers will repay their loans.
Insured depository institutions (i.e., banks and credit unions) rely on
consumer data service providers to determine whether to make available checking
accounts or loans to individuals. Some insurance companies use consumer data to
determine what insurance products to make available and to set policy premiums.
Some payday lenders use data regarding the management of checking accounts and
payment of telecommunications and utility bills to determine the likelihood of
failure to repay small-dollar cash advances. Merchants rely on the consumer
data industry to determine whether to approve payment by check or electronic
payment card. Employers may use consumer data information to screen prospective
employees to determine the likelihood of fraudulent behavior. In short,
numerous firms rely upon consumer data to identify and evaluate potential risks
a consumer may pose before entering into a financial relationship with that
[PDF format, 22 pages].
Inequality as a Multidimensional Process. Daedalus: Journal. Summer 2019.
Rising inequality is one of our most pressing social
concerns. And it is not simply that some are advantaged while others are not,
but that structures of inequality are self-reinforcing and cumulative; they
become durable. The societal arrangements that in the past have produced more
equal economic outcomes and social opportunities – such as expanded mass
education, access to social citizenship and its benefits, and wealth
redistribution – have often been attenuated and supplanted by processes that
are instead inequality-inducing. This issue of Dædalus draws on a wide
range of expertise to better understand and examine how economic conditions are
linked, across time and levels of analysis, to other social, psychological,
political, and cultural processes that can either counteract or reinforce
durable inequalities. [Note: contains copyrighted
[HTML format, various paging].
The National Trails System: A Brief Overview. Congressional Research Service. Mark K. DeSantis, Sandra L. Johnson. Updated June 10, 2019
The National Trails System was created in 1968 by the
National Trails System Act (16 U.S.C. §§1241-1251). The system includes four
types of trails: (1) national scenic trails (NSTs), which display significant
physical characteristics of U.S. regions; (2) national historic trails (NHTs),
which follow travel routes of national historical significance; (3) national
recreation trails (NRTs), which provide outdoor recreation accessible to urban
areas; and (4) connecting or side trails, which provide access to the other
types of trails. As defined in the act, NSTs and NHTs are longdistance trails
designated by acts of Congress. NRTs and connecting and side trails may be
designated by the Secretaries of the Interior and Agriculture with the consent
of the federal agency, state, or political subdivision with jurisdiction over
the lands involved.
[PDF format, 17 pages].
Digital Trade and U.S. Trade Policy. Congressional Research Service. Rachel F. Fefer, Wayne M. Morrison, Shayerah Ilias Akhtar. May 21, 2019
As the global internet develops and evolves, digital trade
has become more prominent on the global trade and economic policy agenda. The economic
impact of the internet was estimated to be $4.2 trillion in 2016, making it the
equivalent of the fifth-largest national economy. The digital economy accounted
for 6.9% of current‐dollar gross U.S. domestic product (GDP) in 2017. Digital
trade has been growing faster than traditional trade in goods and
services. Congress has an important role
to play in shaping global digital trade policy, from oversight of agencies
charged with regulating cross-border data flows to shaping and considering
legislation implementing new trade rules and disciplines through trade
negotiations. Congress also works with the executive branch to identify the
right balance between digital trade and other policy objectives, including
privacy and national security.
[PDF format, 45 pages].
Understanding the Effects of the US Stress Tests. Brookings Institution. Donald Kohn and Nellie Liang. July 11, 2019
Concurrent stress tests—testing all major banks with the
same macroeconomic and market scenarios at the same time—were a key innovation
growing out of the financial crisis of 2007-09. Their original intent in 2009
was to identify the capital needed by banks to continue functioning in a deep
recession and require them to raise the capital, from private sources or the
government, to support the economy. The stress tests have evolved
considerably since 2009, but the underlying rationale remains to assure that
major banks can continue to supply credit to households and businesses in
circumstances of deep economic and financial distress. The tests allow
policymakers to assess the adequacy of capital buffers and to require
remediation when necessary through modifications to institutions’ capital
plans. They are a strong microprudential tool, with important macroprudential
In this paper, Donald Kohn and Nellie Liang of the Hutchins
Center on Fiscal and Monetary Policy at Brookings focused on assessing some of
the effects of this new prudential tool as implemented in the United States,
and contributing to the Federal Reserve Board’s review of its supervisory
stress tests. They analyzed the data that are publicly disclosed about the
stress tests for their implications for bank capital requirements and risk
management, and marshaled the evidence from existing studies on the effects of
stress tests on credit rather than undertaking new efforts. In addition, they
interviewed a number of people knowledgeable about the stress tests to get
their views on their effects. These included current and former supervisors and
Federal Reserve economists (some of whom are now at consultancies advising
banks on stress tests or at interest groups), current and former bankers
involved in the stress tests at the banks, and other interested observers. [Note: contains copyrighted material].
[PDF format, 30 pages].
Energy as a Source of Economic Growth and Social Mobility. Center for Strategic & International Studies. Sarah Ladislaw, Jesse Barnett. June 25, 2019
The CSIS Energy Program assessed the existing academic
literature, commissioned new research papers, convened an expert summit, and
compiled the findings to produce Energy in America: Energy as a Source of
Economic Growth and Social Mobility. This report analyzes the ways energy
contributes to the challenges and opportunities facing ordinary Americans,
covering the impacts of production, distribution, and consumption of energy
products in the United States.
The report highlights the new, extra-energy objectives that energy policy is increasingly expected to advance and evaluates their historical efficacy. The authors conclude that while deliberate U.S. energy policy interventions have hitherto achieved mixed results, there are promising developments and best practices that decisionmakers ought to consider. [Note: contains copyrighted material].
[PDF format, 55 pages].