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Affordable Care Act

Health and Social Programs

Workers

The State of Child Care and Early Education in the US

In honor of Mother’s Day, CEPR is publishing a curated selection of original research reports from academic institutions and nonprofits on the current state of child care and early education in the US. The compilation is part of our ongoing effort to promote informed debate on the most important economic and social issues that affect people's lives as well as encouraging inclusive conversations on improving the lives of families across the country.


Brookings Institution

What is the market price of daycare and preschool?

This report uses nationally representative data from the 2016 Early Childhood Program Participation Survey in order to calculate hourly and annualized prices for parents who purchase at least eight hours a week of center-based care for a child under the age of five without a disability or without outside financial help in paying child care fees. Ultimately, the author is looking to find the market price of center-based daycare and preschool for young children by analyzing the age of the child, region of country, parental education, parental income, and hours of attendance.

CEPR and Adewale Maye / May 09, 2019

Article Artículo

Affordable Care Act

Getting to Medicare for All
(This post first appeared on my Patreon page.)

I had the opportunity to testify last week before the House Rules committee on Medicare for All. Incredibly, this was apparently the first time the topic had been explicitly addressed in a congressional hearing. In my testimony, I argued that a Medicare for All program would be affordable, but the key factor was reducing the cost of input prices, like prescription drugs, medical equipment, and doctors’ pay. I also briefly laid out what I considered the key features of a transition from the current system. I want to go into this issue in a bit more detail here.

I listed four main steps as being key in the transition:

  1. Fix the current Medicare system;

  2. Allow a Medicare buy-in;

  3. Take measures to reduce input prices;

  4. Lower age of Medicare eligibility to 64.

These four steps should allow for an orderly phase in of a universal Medicare system. They also should quickly provide substantial benefits to most of the population in the form of better quality/lower cost health care.

CEPR / May 09, 2019

Article Artículo

Lessons from the Trump Tax Cut

(This piece was first posted on my Patreon page.) The Trumpers were celebrating over the 3.2 percent GDP reported for the first quarter last week. They claimed it proved the success of their tax cuts.

But fans of arithmetic saw things differently. First of all, the jump in GDP was largely a fluke, with a big jump in inventory accumulations and a fall in imports accounting for almost half of the growth. Pulling these out, GDP growth was under 2.0 percent.

This isn’t just cherry picking. It is virtually certain that inventories accumulation will slow next quarter, this usually happens after a month of rapid accumulation. The logic is straightforward, if companies added a lot to their inventory in the first quarter, then they probably want to add less in the second quarter.

It’s a similar story with imports. Our imports typically rise quarter to quarter, unless the economy is in a recession. The shrinkage in the first quarter is likely a fluke, which means unless imports are revised up in subsequent reports (the GDP data will be revised twice before the second quarter data are released), we are likely to see a larger than usual jump in imports in the second quarter.

In that story, both inventories and imports are likely to be a drag on growth. This means that if we have an underlying growth rate of 2.0 percent, a slower rate of inventory accumulation, coupled with more rapid growth in imports, could mean that second quarter GDP will be close to 1.0 percent.

CEPR / May 03, 2019