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samedi 7 février 2009

GENERAL ECONOMY: USA and WORLD

Source: http://france.usembassy.gov


GENERAL ECONOMY

Performance 2009: Productivity, Employment, and Growth in the World’s Economies The Conference Board - January 22, 2009 – 20 pages
http://www.conference-board.org/pdf_free/Productivity2009.pdf

Despite a slowdown in world productivity in 2008, output per hour worked in the United States increased slightly by 1.7 percent, up from 1.5 percent in 2007, according to the latest annual. The most recent productivity advances have been realized, however, through rapid layoffs, suggesting that the productivity of remaining workers and firms is actually strengthening.

Economic Report of the President Council of Economic Advisors
- January 2009 419 pages
http://www.gpoaccess.gov/eop/2009/2009_erp.pdf The report contains current/foreseeable trends and annual numerical goals concerning topics such as employment, production, real income, and Federal budget outlays.

The Global Economy: Outlook, Risks, and Implications for Policy
Senate Budget Committee – Hearing – January 29, 2008

Recession Rewind
The Urban Institute - Reports
http://www.urban.org/toolkit/issues/recession.cfm
“As economists, policymakers, pundits, and the public debate whether we're in a recession, UI researchers review the lessons from the 2001 recession and its aftermath. Have we learned from our past?”

A Year-End Look at the Economic Slowdown’s Impact on Middle-Aged and Older Americans
S. Kathi Brown American Association of Retired Persons - January 2009 – 34 pages http://assets.aarp.org/rgcenter/econ/economic_slowdown_09.pdf
Throughout 2008, the economy was battered by falling housing prices and increasing foreclosure rates, record stock market losses, rising unemployment, and weak consumer spending. An overwhelming majority of Americans ages 45+ believe that the economy is in bad shape. As a result of the economic downturn, the majority say that they cut back on entertainment spending (68%) and eating out (64%) during 2008. Additionally, 52 percent had more difficulty paying for essential items such as food, gas, and medicine in 2008, and 44 percent found it more difficult to pay for utilities.

A First Look at the Foundation and Corporate Response to the Economic Crisis
Foundation Center – Report - January 2009 – 4 pages
http://foundationcenter.org/gainknowledge/research/pdf/researchadvisory_economy_200901.pdf
The report is an examination of foundation and corporate support in response to the current economic crisis. It is part of a research series intended to shed light on the impact of the economic downturn on the nonprofit sector.

ECONOMIC RECOVERY

Economic Stimulus: Issues and Policies Congressional Research Service – January 23, 2009 – 23 pages
http://assets.opencrs.com/rpts/R40104_20090123.pdf
The need for additional fiscal stimulus depends on the state of the economy… Fiscal policy temporarily stimulates the economy through an increase in spending which also, if not offset by increases in revenue, increases the budget deficit… Economists generally agree that spending proposals are somewhat more stimulative than tax cuts since part of a tax cut may be saved by the recipients.

Summary of the American Recovery and Reinvestment Act
Senate – Appropriations Committee – February 2, 2009 – 5 pages
http://appropriations.senate.gov/
“The American Recovery and Reinvestment Act of 2009 combines two essential ingredients needed to bring our economy back to life,” said Senate Appropriations Chairman Daniel K. Inouye (D-Hawaii). “We will create four million jobs in the near-term, and invest in America’s future by rebuilding our crumbling infrastructure for the long-term. In addition, this bill includes more than $301 billion to aid state and local governments as they struggle to meet increasing demand for social services amidst plummeting tax revenues. As we address this crisis, we must never lose sight of our responsibility to avoid wasteful spending by providing strict accountability and oversight measures. We must invest this money quickly, but also wisely.”

Pumping Life Back into the U.S. Economy - Why a Stimulus Package Must Be Big and Targeted
Scott Lilly Center for American Progress – Report - January 2009 – 28 pages
http://www.americanprogress.org/issues/2009/01/pdf/lilly_stimulus.pdf “Priming the pump” is a metaphor that economists have frequently used to explain a policy of using government deficits to restore the circulation of goods, services, and money in a struggling economy. As our economy continues to deteriorate after nearly a year in recession, the question of pump priming becomes a central issue in public discourse. But there are a number of questions that need to be addressed before enacting any economic stimulus plan.”


Repower America with Green Education, Green Jobs, Green Schools
National Wildlife Federation - January 8, 2009
http://www.nwf.org/nwfwebadmin/binaryVault/Education_Fact_Sheet2.pdf
http://www.nwf.org/nwfwebadmin/binaryVault/Campus_Report_Card_Fact_Sheet.pdf

Economic and education experts join National Wildlife Federation to push for green stimulus investments that would re-power America with green education, green jobs and green schools. Investments in education generate 23.1 jobs per $1 million in spending, nearly five times more jobs created than oil and natural gas sector spending, according to Robert Pollin, Department of Economics and Political Economy Research Institute, University of Massachusetts-Amherst.

Green Stimulus Proposals Senate – Committee on Energy and Natural Resources – Source Book – January 2009
http://energy.senate.gov/public/index.cfm?FuseAction=IssueItems.View&IssueItem_ID=ce27babd-d579-40ce-91e9-7b41510d97d3
“The purpose of this Green Book is to make available the principal ideas and proposals for the upcoming economic stimulus package that relate to “green” Federal programs or technologies in the jurisdiction of the Committee on Energy and Natural Resources of the Unites States Senate. The Committee has primary jurisdiction over a wide range of energy and public lands programs and policies that relate to the concept of a “green” economic stimulus. I have directed the Committee’s Majority Staff to assemble these ideas and proposals, and to make them available in a single compilation.”

A Proposal to Rebuild America by Investing in Transportation and Environmental Infrastructure
House – Transportation and Infrastructure Committee - December 12, 2008 – 41 pages
http://transportation.house.gov/Media/File/Full%20Committee/20090107/Rebuild%20America%20(updated%2012-12-08%20proposal).pdf
“The Rebuild America proposal provides $85 billion of infrastructure investment to enhance the safety, security, and efficiency of our highway, transit, rail, aviation, environmental, inland waterways, public buildings, and maritime transportation infrastructure.”

Infrastructure Investment: Ensuring an Effective Economic Recovery
Package House – Transportation and Infrastructure Committee – Hearing - January 22, 2009 http://transportation.house.gov/hearings/hearingDetail.aspx?NewsID=798
The Committee on Transportation and Infrastructure held a hearing to examine how infrastructure investment contributes to job creation and economic recovery. The hearing addressed infrastructure across the Committee's jurisdiction, including highways, bridges, public transportation, rail, aviation, ports, waterways, wastewater treatment facilities, and Federal buildings. It includes 18 written statements.

Building America's 21st Century Infrastructure
Jessica Milano Progressive Policy Institute - Memo to the Next President – January 15, 2008
http://www.ppionline.org/ppi_ci.cfm?knlgAreaID=450020&subsecID=900200&contentID=254788
“America spends only about 2 percent of GDP per year on infrastructure investment (this includes federal, state, local, and private-sector spending). By contrast, that number is about 5 percent in Europe and between 9 percent and 12 percent in China… With the economy slumping, fuel costs rising over time, and private capital looking for new investment opportunities, infrastructure projects can boost our global competitiveness and create jobs at the same time. Many studies have pointed to a positive correlation between such investment and economic growth.”

Memo to the President: Invest in Infrastructure for Long-Term Prosperity
The Brookings Institution – Memo + event – January 12, 2009
http://www.brookings.edu/papers/2009/0112_prosperity_memo.aspx
http://www.brookings.edu/~/media/Files/events/2009/0112_infrastructure/20090112_infrastructure.pdf
“President-elect Obama is preparing plans for an immediate economic stimulus package. At the same time, his new administration must consider how to make investments that will stabilize and strengthen our economy over the long term. Smart investments in infrastructure, innovation and life-long learning can enhance national prosperity—especially in metropolitan areas, where the bulk of our population lives and jobs are located.”

The Digital Road to Recovery: A Stimulus Plan to Create Jobs, Boost Productivity and Revitalize America
Robert Atkinson, Daniel Castro and Stephen Ezell The Information Technology and Innovation Foundation – - January 07, 2009 – 22 p. HTTP://WWW.ITIF.ORG/FILES/ROADTORECOVERY.PDF
This report provides a detailed analysis and estimate of the short-term jobs impacts of using the stimulus package to spur investment in three critical digital networks: broadband, the smart grid and health IT.

Arts & the Economy: Using Arts and Culture to Stimulate State Economic Development
National Governors Association January 15, 2009 – 44 pages http://www.nga.org/Files/pdf/0901ARTSANDECONOMY.PDF
Fostering the arts and culture sector has played a vital role in state economic development, according to the report. Arts and culture-related industries, collectively known as “creative industries,” provide direct economic benefits to states and communities by creating jobs, attracting new investments, generating tax revenues and stimulating tourism and consumer purchases.

INTERNATIONAL TRADE – FOREIGN INVESTMENT

INTERNATIONAL TRADE – FOREIGN INVESTMENT
Source: http://france.usembassy.gov

Trade Policy Report to the President-Elect and the 111th Congress
The Peterson Institute – Special report – January 16 – 16 pages
http://www.petersoninstitute.org/publications/papers/20081217presidentmemo.pdf

“As President-elect Barack Obama and the 111th Congress take office, addressing US trade policy will have to be an important part of the agenda. Responding to the global economic downturn, restoring the global standing of the United States, implementing global-warming initiatives, and clarifying the United States' role in the world economy will all require a rethinking and reform of trade policy. The Trade Policy Study Group, comprising twenty-two former officials and close observers of US trade policy and chaired by Institute director C. Fred Bergsten, presents the President-elect with a four-part strategy for sustaining a constructive trade policy.”
Lee Hudson Teslik Sovereign Wealth Funds Council on Foreign Relations - Backgrounder – Updated January 29, 2008
http://www.cfr.org/publication/15251/sovereign_wealth_funds.html?breadcrumb=%2Fpublication%2Fby_type%2Fbackgrounder
“Creating funds to manage government wealth is not a new phenomenon. But over the past five years, wealth accumulated in existing funds has fluctuated significantly and the number of new funds has spiked.”

Raising Capital: The role of Sovereign Wealth Funds FRB Chicago - Chicago Fed Letter - January 2009 – 4 pages
http://www.chicagofed.org/publications/fedletter/cfljanuary2009_258.pdf
This article describes what sovereign wealth funds do, where their funding comes from, and what drives their investment strategies. It also highlights some of the policy issues that their activities raise.

Invest in America Department of Commerce – International Trade Administration http://www.trade.gov/investamerica/
Invest in America is the primary U.S. Government mechanism to manage foreign direct investment promotion. Efforts are focused on outreach to foreign governments and investors, support for state governments’ investment promotion efforts, and addressing business climate concerns by serving as ombudsman in Washington for the international investment community.

Daniel Griswold Shipping Jobs Overseas or Reaching New Customers? Why Congress Should Not Tax Reinvested Earnings Abroad
Cato Institute - Center for Trade Policy Studies - Free Trade Bulletin - January 13, 2009. http://www.freetrade.org/pubs/FTBs/FTB-036.pdf
“Investing abroad is not about “shipping jobs overseas.” There is no evidence that expanding employment at U.S.- owned affiliates comes at the expense of overall employment by parent companies back home in the United States. In fact, the evidence and experience of U.S. multinational companies points in the opposite direction: foreign and domestic operations tend to compliment each other and expand together.”

Closing Santa’s Sweatshop: How to Deliver on Obama’s and Congress’ Toy-Safety and Fair-Trade Promises Public Citizen - December 2008 – 27 pages
http://www.citizen.org/documents/SantasSweatshop08.pdf
As U.S. toy imports hit record levels, U.S. trade policy and outdated consumer safety protections expose America’s children to a flood of unsafe toys, according to the study. It also documents campaign pledges on import safety made by President-elect Obama and new members of Congress. The United States is expected to import $23 billion in toys in 2008, 90 percent of that from China. Imports this year represent 90 percent of U.S. toys, which is the highest toy import level and share on record. Many nations producing our children’s toys have extremely lax safety standards and enforcement.

Rawles O. King Ocean Piracy and its Impact on Insurance Congressional Research Service - Library of Congress - Web posted January 4, 2009 – 10 pages
http://assets.opencrs.com/rpts/R40081_20081203.pdf Many Members of Congress are concerned about the sharp rise in pirate attacks in the strategic waterways in the Gulf of Aden off the East coast of Africa. Given the sharp increase in the number of pirate attacks, the cost of transporting cargo in international waters could rise dramatically because of the sharp increase in ocean marine insurance rates for ships transiting the Gulf of Aden. Commercial insurers, for example, could require a special war risk insurance premium costing an additional ten of thousands of dollars a day. These additional costs could adversely impact international trade during the current global economic slowdown.