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Japan's Economy: From Bubble to Bust: In the 1980s, Japan's economy posted strong economic growth, in stark contrast to the more pedestrian growth other developed economies experienced. In this period, referred to as the "bubble" economy, Japan experienced a sharp increase in the values of land and stocks. The fast paced growth came to a halt in 1991, however, as the Ministry of Finance grew concerned over prospects of a rising rate of inflation, and, accordingly, tightened the nation's money supply. Since then, Japanese economic growth has fallen sharply and the economy has experienced asset deflation, rising levels of unemployment, and falling corporate profits and investments.
Japan's Budget: Role in Economic Policymaking: The Japanese economy has been in recession for three years, making it the longest recession in Japan's post-war experience. Groups within and outside Japan are calling on Japan to adopt aggressive fiscal policy measures to boost the Japanese economy and to aid in the recovery of the world economy. Japan has enacted a number of limited measures to stimulate, but it is unlikely to move more aggressively to adopt deficit-financing measures to stimulate its economy for a number of reasons: political and government leaders oppose deficit financing in principle; and under present economic conditions, Japanese officials are more concerned with the effects a fiscal stimulus program will have on the yen, on Japan's trade account, and on its economic recovery.
South Korea's Economy and Trade: South Korea has become a mid-level economy with a growing consumer market and industrial base. It now is in transition. It can no longer compete easily in low-wage, low-technology manufacturing with other countries of Asia, yet it does not have the technology and expertise to compete fully with industries from Japan, the United States, and Europe.
Japan's Looming Bank Crisis: A Half Trillion Dollars in Non-Performing Loans?: Japan's top 21 banks have reported Y13.6 trillion (US$136 billion) in non-performing loans, but experts consider the true figure to be in the range of Y40 to Y60 trillion (US$400 to US$600 billion). If 90, Japan's banks may take five to seven more years to write off their bad loans and restore health to their balance sheets. Current write-offs are being financed primarily by sales of stocks held by banks whose values have appreciated. This problem of bad loans is depressing Japan's economic growth rate and making resolution of trade disputes and further opening of Japan's financial markets more difficult.
Cost-Benefit Analysis: Issues in Its Use in Regulation: This report sketches issues underlying broader use of cost-benefit analysis. It focuses on cost-benefit as one of several related frameworks for assessing regulatory actions or policies. Cost-benefit is the broadest of these frameworks, which also include impact assessment, risk assessment, and cost-effectiveness. Which analytical framework is appropriate depends on the regulatory context.
Current Economic Conditions and Selected Forecasts: This report begins with a comprehensive presentation of current economic conditions focusing on income growth, unemployment, and inflation. The posture of monetary and fiscal policy is surveyed as are the forecasts of economic activity. It concludes with data on the factors important for economic growth.
The New Economic Paradigm: Is It New and Is It a Paradigm?: How fast the economy can grow is of interest to Congress for at least three reasons. First, it directly affects the fiscal position of the government. Second, it influences the posture that should be taken by monetary policy, an oversight responsibility of Congress. Third, it influences the growth in the material well-being of Americans, a direct concern of Congress.
Environmental Reauthorizations and Regulatory Reform: From the 104th Congress to the 106th: The 104th Congress pursued efforts to reform environmental regulations on several fronts: (1) revising regulatory decision making processes; (2) attaching specific reforms to funding bills; (3) establishing a House corrections day calendar of bills addressing specific regulatory problems; and (4) incorporating regulatory reforms into individual program reauthorization bills. The 105th Congress has pursued regulatory reform in four primary directions: (1) proposals to establish a comprehensive cost-benefit/risk analysis framework for regulatory programs, (2) private property “takings” initiatives, (3) amendments and reforms directed at individual environmental statutes, and (4) oversight of environmental programs.
Federal Regulatory Reform: An Overview: No Description Available.
Federal Regulatory Reform: An Overview: No Description Available.
Economic Development Administration: Overview and Issues: The Economic Development Administration (EDA), targeted for elimination or major "reinvention" early in the 104th Congress, gained a new lease on life in the waning days of the 105th. Having been kept alive via appropriations bills since its last authorizing legislation expired in 1982, P.L. 105-393 reauthorized the EDA and its programs for 5 years
Economic Development Administration: Overview and Issues: The Economic Development Administration (EDA), targeted for elimination or major “reinvention” early in the 104th Congress, gained a new lease on life in the waning days of the 105th. Having been kept alive via appropriations bills since its last authorizing legislation expired in 1982, P.L. 105-393 reauthorized the EDA and its programs for 5 years. On October 27, Congress approved a conference agreement recommending $286.7 million for EDAP and $28 million for S&E, for a totalFY2001 appropriation of$411.9 million for EDA. It became part of the Consolidated Appropriations Act (H.R. 4942, P.L. 106-553) signed into law on December 21, 2000.
Economic Development Administration: Overview and Issues: The Economic Development Administration (EDA), targeted for elimination or major “reinvention” early in the 104th Congress, gained a new lease on life in the waning days of the 105th. Having been kept alive via appropriations bills since its last authorizing legislation expired in 1982, P.L. 105-393 reauthorized the EDA and its programs for 5 years. On October 27, Congress approved a conference agreement recommending $286.7 million for EDAP and $28 million for S&E, for a totalFY2001 appropriation of$411.9 million for EDA. It became part of the Consolidated Appropriations Act (H.R. 4942, P.L. 106-553) signed into law on December 21, 2000.
Economic Development Administration: Overview and Issues: The Economic Development Administration (EDA), targeted for elimination or major “reinvention” early in the 104th Congress, gained a new lease on life in the waning days of the 105th. Having been kept alive via appropriations bills since its last authorizing legislation expired in 1982, P.L. 105-393 reauthorized the EDA and its programs for 5 years. On October 27, Congress approved a conference agreement recommending $286.7 million for EDAP and $28 million for S&E, for a totalFY2001 appropriation of$411.9 million for EDA. It became part of the Consolidated Appropriations Act (H.R. 4942, P.L. 106-553) signed into law on December 21, 2000.
Economic Development Administration: Overview and Issues: The Economic Development Administration (EDA), targeted for elimination or major “reinvention” early in the 104th Congress, gained a new lease on life in the waning days of the 105th. Having been kept alive via appropriations bills since its last authorizing legislation expired in 1982, P.L. 105-393 reauthorized the EDA and its programs for 5 years. On October 27, Congress approved a conference agreement recommending $286.7 million for EDAP and $28 million for S&E, for a totalFY2001 appropriation of$411.9 million for EDA. It became part of the Consolidated Appropriations Act (H.R. 4942, P.L. 106-553) signed into law on December 21, 2000.
Economic Development Administration: Overview and Issues: The Economic Development Administration (EDA), targeted for elimination or major “reinvention” early in the 104th Congress, gained a new lease on life in the waning days of the 105th. Having been kept alive via appropriations bills since its last authorizing legislation expired in 1982, P.L. 105-393 reauthorized the EDA and its programs for 5 years. On October 27, Congress approved a conference agreement recommending $286.7 million for EDAP and $28 million for S&E, for a totalFY2001 appropriation of$411.9 million for EDA. It became part of the Consolidated Appropriations Act (H.R. 4942, P.L. 106-553) signed into law on December 21, 2000.
Economic Development Administration: Overview and Issues: The Economic Development Administration (EDA), targeted for elimination or major “reinvention” early in the 104th Congress, gained a new lease on life in the waning days of the 105th. Having been kept alive via appropriations bills since its last authorizing legislation expired in 1982, P.L. 105-393 reauthorized the EDA and its programs for 5 years. On October 27, Congress approved a conference agreement recommending $286.7 million for EDAP and $28 million for S&E, for a totalFY2001 appropriation of$411.9 million for EDA. It became part of the Consolidated Appropriations Act (H.R. 4942, P.L. 106-553) signed into law on December 21, 2000.
Economic Development Administration: Overview and Issues: The Economic Development Administration (EDA), targeted for elimination or major “reinvention” early in the 104th Congress, gained a new lease on life in the waning days of the 105th. Having been kept alive via appropriations bills since its last authorizing legislation expired in 1982, P.L. 105-393 reauthorized the EDA and its programs for 5 years. On October 27, Congress approved a conference agreement recommending $286.7 million for EDAP and $28 million for S&E, for a totalFY2001 appropriation of$411.9 million for EDA. It became part of the Consolidated Appropriations Act (H.R. 4942, P.L. 106-553) signed into law on December 21, 2000.
Economic Development Administration: Overview and Issues: The Economic Development Administration (EDA), targeted for elimination or major “reinvention” early in the 104th Congress, gained a new lease on life in the waning days of the 105th. Having been kept alive via appropriations bills since its last authorizing legislation expired in 1982, P.L. 105-393 reauthorized the EDA and its programs for 5 years. On October 27, Congress approved a conference agreement recommending $286.7 million for EDAP and $28 million for S&E, for a totalFY2001 appropriation of$411.9 million for EDA. It became part of the Consolidated Appropriations Act (H.R. 4942, P.L. 106-553) signed into law on December 21, 2000.
Economic Development Administration: Overview and Issues: The Economic Development Administration (EDA), targeted for elimination or major “reinvention” early in the 104th Congress, gained a new lease on life in the waning days of the 105th. Having been kept alive via appropriations bills since its last authorizing legislation expired in 1982, P.L. 105-393 reauthorized the EDA and its programs for 5 years. On October 27, Congress approved a conference agreement recommending $286.7 million for EDAP and $28 million for S&E, for a totalFY2001 appropriation of$411.9 million for EDA. It became part of the Consolidated Appropriations Act (H.R. 4942, P.L. 106-553) signed into law on December 21, 2000.
China's Economic Conditions: China’s economy continues to be a concern to U.S. policymakers. On the one hand, China’s economic growth presents huge opportunities for U.S. exporters. On the other hand, the surge in Chinese exports to the United States has put competitive pressures on many U.S. industries. Many U.S. policymakers have argued that greater efforts should be made to pressure China to fully implement its WTO commitments and to change various economic policies deemed harmful to U.S. economic interests, such as its currency peg and its use of subsidies to support its SOEs. In addition, recent bids by Chinese state-owned firms to purchase various U.S. firms have raised concerns among Members over the impact such acquisitions could have on U.S. national and economic security.
Economic Development Administration: Overview and Issues: The Economic Development Administration (EDA), targeted for elimination or major “reinvention” early in the 104th Congress, gained a new lease on life in the waning days of the 105th. Having been kept alive via appropriations bills since its last authorizing legislation expired in 1982, P.L. 105-393 reauthorized the EDA and its programs for 5 years. On October 27, Congress approved a conference agreement recommending $286.7 million for EDAP and $28 million for S&E, for a totalFY2001 appropriation of$411.9 million for EDA. It became part of the Consolidated Appropriations Act (H.R. 4942, P.L. 106-553) signed into law on December 21, 2000.
China's Economic Conditions: Currently, China’s short-term economic outlook is unclear. Economic slowdowns in Asia and the United States in the beginning of 2001 have hurt China’s export industries, and the September 11, 2001 terrorist attacks against the United States will likely further dampen foreign demand for Chinese products and could reduce the level of planned foreign investment in China. The Chinese government has used public spending in recent years to boost the economy, and it is likely that it will continue to maintain such policies until the global economy begins to recover.
China's Economic Conditions: China’s economy continues to be a concern to U.S. policymakers. On the one hand, China’s economic growth presents huge opportunities for U.S. exporters. On the other hand, the surge in Chinese exports to the United States has put competitive pressures on many U.S. industries. Many U.S. policymakers have argued that greater efforts should be made to pressure China to fully implement its WTO commitments and to change various economic policies deemed harmful to U.S. economic interests, such as its currency peg and its use of subsidies to support its SOEs. In addition, recent bids by Chinese state-owned firms to purchase various U.S. firms have raised concerns among Members over the impact such acquisitions could have on U.S. national and economic security.
China's Economic Conditions: China’s economy continues to be a concern to U.S. policymakers. On the one hand, China’s economic growth presents huge opportunities for U.S. exporters. On the other hand, the surge in Chinese exports to the United States has put competitive pressures on many U.S. industries. Many U.S. policymakers have argued that greater efforts should be made to pressure China to fully implement its WTO commitments and to change various economic policies deemed harmful to U.S. economic interests, such as its currency peg and its use of subsidies to support its SOEs. In addition, recent bids by Chinese state-owned firms to purchase various U.S. firms have raised concerns among Members over the impact such acquisitions could have on U.S. national and economic security.
China's Economic Conditions: China’s economy continues to be a concern to U.S. policymakers. On the one hand, China’s economic growth presents huge opportunities for U.S. exporters. On the other hand, the surge in Chinese exports to the United States has put competitive pressures on many U.S. industries. Many U.S. policymakers have argued that greater efforts should be made to pressure China to fully implement its WTO commitments and to change various economic policies deemed harmful to U.S. economic interests, such as its currency peg and its use of subsidies to support its SOEs. In addition, recent bids by Chinese state-owned firms to purchase various U.S. firms have raised concerns among Members over the impact such acquisitions could have on U.S. national and economic security.
China's Economic Conditions: China’s economy continues to be a concern to U.S. policymakers. On the one hand, China’s economic growth presents huge opportunities for U.S. exporters. On the other hand, the surge in Chinese exports to the United States has put competitive pressures on many U.S. industries. Many U.S. policymakers have argued that greater efforts should be made to pressure China to fully implement its WTO commitments and to change various economic policies deemed harmful to U.S. economic interests, such as its currency peg and its use of subsidies to support its SOEs. In addition, recent bids by Chinese state-owned firms to purchase various U.S. firms have raised concerns among Members over the impact such acquisitions could have on U.S. national and economic security.
China's Economic Conditions: China’s economy remained relatively healthy in 2002, despite economic slowdowns in other parts of the world. Foreign investment continued to pour into China, and the Chinese government effectively used public spending to boost the economy. However, painful economic reforms will be necessary to keep the economic strong in 2003 and beyond. The recent outbreak in early 2003 of a very contagious virus called SevereAcuteRespiratory Syndrome (SARS) in China appears to have had a short-term negative impact on the Chinese economy.
China's Economic Conditions: China’s economy continues to be a concern to U.S. policymakers. On the one hand, China’s economic growth presents huge opportunities for U.S. exporters. On the other hand, the surge in Chinese exports to the United States has put competitive pressures on many U.S. industries. Many U.S. policymakers have argued that greater efforts should be made to pressure China to fully implement its WTO commitments and to change various economic policies deemed harmful to U.S. economic interests, such as its currency peg and its use of subsidies to support its SOEs. In addition, recent bids by Chinese state-owned firms to purchase various U.S. firms have raised concerns among Members over the impact such acquisitions could have on U.S. national and economic security.
China's Economic Conditions: China’s economy continues to be a concern to U.S. policymakers. On the one hand, China’s economic growth presents huge opportunities for U.S. exporters. On the other hand, the surge in Chinese exports to the United States has put competitive pressures on many U.S. industries. Many U.S. policymakers have argued that greater efforts should be made to pressure China to fully implement its WTO commitments and to change various economic policies deemed harmful to U.S. economic interests, such as its currency peg and its use of subsidies to support its SOEs. In addition, recent bids by Chinese state-owned firms to purchase various U.S. firms have raised concerns among Members over the impact such acquisitions could have on U.S. national and economic security.
China's Economic Conditions: China’s economy remained relatively healthy in 2002, despite economic slowdowns in other parts of the world. Foreign investment continued to pour into China, and the Chinese government effectively used public spending to boost the economy. However, painful economic reforms will be necessary to keep the economic strong in 2003 and beyond. The recent outbreak in early 2003 of a very contagious virus called SevereAcuteRespiratory Syndrome (SARS) in China appears to have had a short-term negative impact on the Chinese economy.
China's Economic Conditions: China’s economy continues to be a concern to U.S. policymakers. On the one hand, China’s economic growth presents huge opportunities for U.S. exporters. On the other hand, the surge in Chinese exports to the United States has put competitive pressures on many U.S. industries. Many U.S. policymakers have argued that greater efforts should be made to pressure China to fully implement its WTO commitments and to change various economic policies deemed harmful to U.S. economic interests, such as its currency peg and its use of subsidies to support its SOEs. In addition, recent bids by Chinese state-owned firms to purchase various U.S. firms have raised concerns among Members over the impact such acquisitions could have on U.S. national and economic security.
China's Economic Conditions: China’s economy continues to be a concern to U.S. policymakers. On the one hand, China’s economic growth presents huge opportunities for U.S. exporters. On the other hand, the surge in Chinese exports to the United States has put competitive pressures on many U.S. industries. Many U.S. policymakers have argued that greater efforts should be made to pressure China to fully implement its WTO commitments and to change various economic policies deemed harmful to U.S. economic interests, such as its currency peg and its use of subsidies to support its SOEs. In addition, recent bids by Chinese state-owned firms to purchase various U.S. firms have raised concerns among Members over the impact such acquisitions could have on U.S. national and economic security.
China's Economic Conditions: China’s economy remained relatively healthy in 2002, despite economic slowdowns in other parts of the world. Foreign investment continued to pour into China, and the Chinese government effectively used public spending to boost the economy. However, painful economic reforms will be necessary to keep the economic strong in 2003 and beyond. The recent outbreak in early 2003 of a very contagious virus called SevereAcuteRespiratory Syndrome (SARS) in China appears to have had a short-term negative impact on the Chinese economy.
China's Economic Conditions: China’s economy continues to be a concern to U.S. policymakers. On the one hand, China’s economic growth presents huge opportunities for U.S. exporters. On the other hand, the surge in Chinese exports to the United States has put competitive pressures on many U.S. industries. Many U.S. policymakers have argued that greater efforts should be made to pressure China to fully implement its WTO commitments and to change various economic policies deemed harmful to U.S. economic interests, such as its currency peg and its use of subsidies to support its SOEs. In addition, recent bids by Chinese state-owned firms to purchase various U.S. firms have raised concerns among Members over the impact such acquisitions could have on U.S. national and economic security.
China's Economic Conditions: China’s economy continues to be a concern to U.S. policymakers. On the one hand, China’s economic growth presents huge opportunities for U.S. exporters. On the other hand, the surge in Chinese exports to the United States has put competitive pressures on many U.S. industries. Many U.S. policymakers have argued that greater efforts should be made to pressure China to fully implement its WTO commitments and to change various economic policies deemed harmful to U.S. economic interests, such as its currency peg and its use of subsidies to support its SOEs. In addition, recent bids by Chinese state-owned firms to purchase various U.S. firms have raised concerns among Members over the impact such acquisitions could have on U.S. national and economic security.
Congressional Review of Agency Rulemaking: A Brief Overview and Assessment After Five Years: This report will provide a brief explanation of how the review scheme was expected to operate and describe how it has in fact been utilized. The possible reasons for the limited use of the formal review mechanism thus far are assessed and congressional remedial proposals and other options are discussed.
Congressional Review of Agency Rulemaking: An Assessment After Nullification of OSHA's Ergonomics Standard: This report will provide a brief explanation of how the review scheme was expected to operate and describe how it has in fact been utilized. The possible reasons for the limited use of the formal review mechanism thus far are assessed and congressional remedial proposals and other options are discussed.
Congressional Review of Agency Rulemaking: An Update and Assessment After Nullification of OSHA's Ergonomics Standard: This report will provide a brief explanation of how the review scheme was expected to operate and describe how it has in fact been utilized. The possible reasons for the limited use of the review scheme thus far are assessed and congressional remedial proposals and other options are discussed.
Current Economic Conditions and Selected Forecasts: This report contains information regarding the Current Economic Conditions, Recent Macroeconomic Developments, Posture of Monetary and Fiscal Policy, Summary of Current Developments, Sources of GDP Growth, Economic Forecasts 2001, and Promotion of Economic Growth. The report also presents statistics regarding the Growth Rate of Real GDP v. Final Sales, Civilian Unemployment Rate, Rate of Change in the Consumer Price Index, Rate of Change in the GDP Deflators, Rate of Change in Labor Costs, U.S. Foreign Trade Deficit, Alternative Measures of Fiscal Policy, The Growth Rates of the Monetary Aggregates, etc.
Current Economic Conditions and Selected Forecasts: This report contains information regarding the Current Economic Conditions, Recent Macroeconomic Developments, Posture of Monetary and Fiscal Policy, Summary of Current Developments, Sources of GDP Growth, Economic Forecasts 2001, and Promotion of Economic Growth. The report also presents statistics regarding the Growth Rate of Real GDP v. Final Sales, Civilian Unemployment Rate, Rate of Change in the Consumer Price Index, Rate of Change in the GDP Deflators, Rate of Change in Labor Costs, U.S. Foreign Trade Deficit, Alternative Measures of Fiscal Policy, The Growth Rates of the Monetary Aggregates, etc.
Current Economic Conditions and Selected Forecasts: This report contains information regarding the Current Economic Conditions, Recent Macroeconomic Developments, Posture of Monetary and Fiscal Policy, Summary of Current Developments, Sources of GDP Growth, Economic Forecasts 2001, and Promotion of Economic Growth. The report also presents statistics regarding the Growth Rate of Real GDP v. Final Sales, Civilian Unemployment Rate, Rate of Change in the Consumer Price Index, Rate of Change in the GDP Deflators, Rate of Change in Labor Costs, U.S. Foreign Trade Deficit, Alternative Measures of Fiscal Policy, The Growth Rates of the Monetary Aggregates, etc.
Current Economic Conditions and Selected Forecasts: This report contains information regarding the Current Economic Conditions, Recent Macroeconomic Developments, Posture of Monetary and Fiscal Policy, Summary of Current Developments, Sources of GDP Growth, Economic Forecasts 2001, and Promotion of Economic Growth. The report also presents statistics regarding the Growth Rate of Real GDP v. Final Sales, Civilian Unemployment Rate, Rate of Change in the Consumer Price Index, Rate of Change in the GDP Deflators, Rate of Change in Labor Costs, U.S. Foreign Trade Deficit, Alternative Measures of Fiscal Policy, The Growth Rates of the Monetary Aggregates, etc.
Current Economic Conditions and Selected Forecasts: This report contains information regarding the Current Economic Conditions, Recent Macroeconomic Developments, Posture of Monetary and Fiscal Policy, Summary of Current Developments, Sources of GDP Growth, Economic Forecasts 2001, and Promotion of Economic Growth. The report also presents statistics regarding the Growth Rate of Real GDP v. Final Sales, Civilian Unemployment Rate, Rate of Change in the Consumer Price Index, Rate of Change in the GDP Deflators, Rate of Change in Labor Costs, U.S. Foreign Trade Deficit, Alternative Measures of Fiscal Policy, The Growth Rates of the Monetary Aggregates, etc.
Current Economic Conditions and Selected Forecasts: This report begins with a comprehensive presentation of current economic conditions focusing on income growth, unemployment, and inflation. The posture of monetary and fiscal policy is surveyed as are the forecasts of economic activity. It concludes with data on the factors important for economic growth.
Current Economic Conditions and Selected Forecasts: This report contains information regarding the Current Economic Conditions, Recent Macroeconomic Developments, Posture of Monetary and Fiscal Policy, Summary of Current Developments, Sources of GDP Growth, Economic Forecasts 2001, and Promotion of Economic Growth. The report also presents statistics regarding the Growth Rate of Real GDP v. Final Sales, Civilian Unemployment Rate, Rate of Change in the Consumer Price Index, Rate of Change in the GDP Deflators, Rate of Change in Labor Costs, U.S. Foreign Trade Deficit, Alternative Measures of Fiscal Policy, The Growth Rates of the Monetary Aggregates, etc.
Current Economic Conditions and Selected Forecasts: This report begins with a comprehensive presentation of current economic conditions focusing on income growth, unemployment, and inflation. The posture of monetary and fiscal policy is surveyed as are the forecasts of economic activity. It concludes with data on the factors important for economic growth.
Current Economic Conditions and Selected Forecasts: This report begins with a comprehensive presentation of current economic conditions focusing on income growth, unemployment, and inflation. The posture of monetary and fiscal policy is surveyed as are the forecasts of economic activity. It concludes with data on the factors important for economic growth.
Current Economic Conditions and Selected Forecasts: This report begins with a comprehensive presentation of current economic conditions focusing on income growth, unemployment, and inflation. The posture of monetary and fiscal policy is surveyed as are the forecasts of economic activity. It concludes with data on the factors important for economic growth.
Current Economic Conditions and Selected Forecasts: This report begins with a comprehensive presentation of current economic conditions focusing on income growth, unemployment, and inflation. The posture of monetary and fiscal policy is surveyed as are the forecasts of economic activity. It concludes with data on the factors important for economic growth.

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