Search

Household income, spending, and net worth are key inputs in macroeconomic forecasting and economic research. Macro-level data sources are often used to measure household accounts, but lack important information about heterogeneity across different types of households that can be found in micro-level data sources. This paper compares aggregates computed based on one micro-level data source--the Survey of Consumer Finances (SCF)--with macro-level sources of information on household accounts. We find that on most measures, aggregates computed from the SCF line up well with macro-level data sources once we construct comparable series. Our results imply that researchers and policy makers can be confident in making macroeconomic inferences from household-level surveys like the SCF. [ABSTRACT FROM AUTHOR]

This report provides a comparative analysis of six proposed congressional advisory commissions that would investigate various aspects of the recent financial crisis and economic downturn. The report specifically discusses (1) the membership structure, (2) appointment structure, (3) rules of procedure and operation, (4) duties and reporting requirements, (5) powers of the commission, (6) staffing issues, and (7) funding. Tables 1 through 7 (at the end of the report) summarize major provisions of the six proposals. The six proposed commissions are found in Senate amendment 995 to S. 386 (sponsored by Senator Isakson); S. 195 (the Taxpayer Protection Act, sponsored by Senator Dorgan); S. 298 (the Financial Markets Commission Act of 2009, sponsored by Senator Isakson); H.R. 74 (the Financial Oversight Commission Act of 2009, sponsored by Representative Issa); H.R. 768 (the Commission on Financial Crisis Accountability Act of 2009, sponsored by Representative Larson); and H.R. 2111 (the Congressional Commission on Financial Accountability and Preparedness Act of 2009, sponsored by Representative Burgess). The overall structures of each of the proposed commissions are similar in many respects, both to each other and to previous independent advisory entities established by Congress. Specifically, the proposed commissions (1) exist temporarily; (2) serve in an advisory capacity; and (3) report a work product detailing the findings, conclusions, and recommendations of the commission. That said, each particular proposed commission has unique elements, particularly concerning its membership structure, appointment structure, and timeline for reporting its work product to Congress. Related Bills: S.386 S.195 S.298 H.R.74 H.R.768 H.R.2111 [ABSTRACT FROM AUTHOR]

A comparative analysis is presented which discusses the implementation of the 9/11 Commission Recommendations Act of 2007 and Improving America's Security Act of 2007 in the U.S. It notes the assessment of major differences and similarities between the two bills passed by the House on January 9, 2007 and Senate in March 13 same year. It also emphasizes the online access to research products that address a number of issues raised by the two bills.