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AEI's weekly digest of top commentary and scholarship on the issues that matter most

Fighting Inflation

The World's Most Hawkish Central Banks

September 16, 2023

The post-pandemic surge in inflation caught many of the world's central banks off guard, as traditional economic models have provided little guidance in setting interest rates. In a new AEI Economic Policy Working Paper, Steven B. Kamin documents which of the world's central banks responded most aggressively and reveals how the Federal Reserve compares.

 

 

Taliban rule in Afghanistan and political instability across West Africa have provided renewed opportunities for Salafi-jihadi terrorist groups like al Qaeda and the Islamic State. For the Critical Threats Project, Katherine Zimmerman and Nathan Vincent detail these activities and assess the threat to the US.

 

Poll after poll has confirmed that going into the 2024 election, Joe Biden's support among black voters is significantly below his 2020 performance. Using new data from AEI's Survey Center on America Life, Nate Moore, Ruy Teixeira, and Karlyn Bowman reveal how this shift is concentrated among younger black voters.

 

Are single men and women happier than their married counterparts? W. Bradford Wilcox and Wendy Wang use data from the 2022 General Social Survey to reveal the massive impact marriage and children have on Americans' satisfaction.

 

"In today's GOP, positive messages and government experience are out; novelty, conspiracy theory, and a sense of foreboding are in." Matthew Continetti critically examines the corrosive effects of the New Right and its troubling affinities with progressivism.

Medicare's Price Regulations: How the Government Determines What It Pays for Medical Care

Medicare's payment rules for covered services shape the entire health care sector. The government's size allows it to dictate below-market pricing, and private insurers often rely on Medicare's standards as a pricing baseline. But what is the empirical basis for Medicare's price setting? James C. Capretta and David N. Bernstein explore this process in their latest AEI Economic Perspectives report. Capretta and Bernstein chart the history of Medicare's prospective payment system, implemented during the Reagan administration, which sets payments independently of providers' self-reported costs. Over time, prices have come to be set by an idiosyncratic combination of "indirect data, antiquated formulas, and agency judgment" that does little to incentivize high-value services for patients. If Medicare embraced competitive pricing, its influence would incentivize efficiency and innovation across the entire health care industry.

 

 

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QUOTE OF THE WEEK

The first casualty of a trade war is economic freedom; the second is prosperity.

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