The relationship between the U.S. and the People's Republic of China is multifaceted and goes well beyond economic relations, but questions of macroeconomic imbalances have remained at the heart of bilateral discussions between the two.

Aparna Mathur presents "Macroeconomic Approaches to Job Creation" at the 2011 GAO Conference.

Ample mutual misunderstanding exists between the United States and China in their economic arguments. There is likely to be an important race between economic and demographic forces that will naturally redress the imbalances and the political imperatives for each country to stand tough and fight.

The following is a letter to the editor in response to an April 8 op-ed in The Financial Times on the possibility of countries opting to leave the eurozone.

This essay reviews American macroeconomic history to illustrate its potential uses, and to draw out methodological implications.

At this AEI event, housing policy experts will discuss the condition of the housing market and evaluate policy proposals. Mark Fleming, chief economist at CoreLogic, will describe the current status and outlook of the US housing market. Christopher J. Mayer of Columbia University will present the refinance proposal that he and R. Glenn Hubbard of AEI and Columbia University first offered in 2009. AEI’s Phillip Swagel, assistant secretary for economics at the Treasury Department during the financial crisis, will assess the Hubbard/Mayer proposal and other policy options and Steve Liseman from CNBC will comment on the broader macroeconomic impact of these policies and expectations from Wall Street.

On April 13, 2012, the US Department of the Treasury released new cost estimates for the Troubled Asset Relief Program. Looking principally at actual and projected contractual cash flows, the document concludes that: "Overall, the government is now expected to at least break even on its financial stability programs and may realize a positive return." 

Had European policymakers not been overly complacent over the past decade, they might have learned a lot from Latin America's sad past experience with misguided macroeconomic policies, especially under fixed exchange rate regimes. This might have helped them to avoid their present sovereign debt crisis. Now that they are neck-deep in the mess, it is too late for those lessons.