Sustained tax and spending policies that boost consumption in ways that reduce the saving rate are likely to lower long-run living standards.
Responses
© 2025. Kent A. Clark Center for Global Markets.
11%
8%
0%
0%
18%
53%
11%
Responses weighted by each expert's confidence
© 2025. Kent A. Clark Center for Global Markets.
0%
0%
21%
61%
18%
Participant |
University |
Vote |
Confidence |
Bio/Vote History |
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![]() Daron Acemoglu |
MIT | Bio/Vote History | ||
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![]() Alberto Alesina |
Harvard | Did Not Answer | Bio/Vote History | |
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![]() Joseph Altonji |
Yale | Bio/Vote History | ||
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![]() Alan Auerbach |
Berkeley | Bio/Vote History | ||
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![]() David Autor |
MIT | Bio/Vote History | ||
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![]() Katherine Baicker |
University of Chicago | Bio/Vote History | ||
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![]() Marianne Bertrand |
Chicago | Bio/Vote History | ||
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![]() Raj Chetty |
Harvard | Did Not Answer | Bio/Vote History | |
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![]() Judith Chevalier |
Yale | Bio/Vote History | ||
LONG run and sustained...
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![]() Janet Currie |
Princeton | Bio/Vote History | ||
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![]() David Cutler |
Harvard | Bio/Vote History | ||
It depends what the spending is for.
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![]() Angus Deaton |
Princeton | Bio/Vote History | ||
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![]() Darrell Duffie |
Stanford | Bio/Vote History | ||
Boosting the short run implies a tradeoff, and a distortion in market incentives for long run efficient savings.
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![]() Aaron Edlin |
Berkeley | Bio/Vote History | ||
lower long run savings is likely to lower long run living standards regardless of source. likely, not certain.
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![]() Barry Eichengreen |
Berkeley | Bio/Vote History | ||
I would give a different answer depending on whether we were talking about Brazil or China.
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![]() Ray Fair |
Yale | Bio/Vote History | ||
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![]() Pinelopi Goldberg |
Yale | Bio/Vote History | ||
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![]() Claudia Goldin |
Harvard | Bio/Vote History | ||
Important question with an answer that depends on too many factors for a flippant response on my part.
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![]() Austan Goolsbee |
Chicago | Bio/Vote History | ||
if we are talking long-run
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![]() Michael Greenstone |
University of Chicago | Bio/Vote History | ||
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Robert Hall |
Stanford | Bio/Vote History | ||
Only an unlikely exotic economy could over come the basic principle that more now means less later.
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![]() Bengt Holmström |
MIT | Bio/Vote History | ||
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![]() Caroline Hoxby |
Stanford | Bio/Vote History | ||
Artificial depression of saving, which is the (unintentional) effect of many govt policies, reduces welfare unless itoffsets some distortion
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![]() Kenneth Judd |
Stanford | Bio/Vote History | ||
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![]() Anil Kashyap |
Chicago Booth | Bio/Vote History | ||
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![]() Pete Klenow |
Stanford | Bio/Vote History | ||
Not everywhere and always, but probably here and now for most such policies.
-see background information here |
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![]() Jonathan Levin |
Stanford | Bio/Vote History | ||
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![]() Eric Maskin |
Harvard | Bio/Vote History | ||
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![]() William Nordhaus |
Yale | Bio/Vote History | ||
Poorly worded and loaded question.
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![]() Maurice Obstfeld |
Berkeley | Bio/Vote History | ||
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![]() Emmanuel Saez |
Berkeley | Bio/Vote History | ||
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![]() José Scheinkman |
Columbia University | Did Not Answer | Bio/Vote History | |
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![]() Richard Schmalensee |
MIT | Bio/Vote History | ||
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![]() Hyun Song Shin |
Princeton | Bio/Vote History | ||
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![]() Nancy Stokey |
University of Chicago | Bio/Vote History | ||
Unclear what is meant by a "spending policy that boosts consumption."
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![]() Richard Thaler |
Chicago Booth | Bio/Vote History | ||
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![]() Christopher Udry |
Northwestern | Bio/Vote History | ||
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![]() Luigi Zingales |
Chicago Booth | Did Not Answer | Bio/Vote History | |
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