2017 Jackson Hole Economic Policy Symposium
We hosts dozens of central bankers, policymakers, academics and economists from around the world at its annual economic policy symposium, Aug. 24-26, 2017, in Jackson Hole, Wyo. The program for the 2017 Economic Symposium, "Fostering a Dynamic Global Economy," is now available. Papers and presentations for this year's symposium will be posted as they are available.
Economic growth has been sluggish in many countries since the global financial crisis. At the same time, the gains from growth often have not been broadly shared. A variety of factors may be contributing to this subpar performance, including changes in business structure, changing patterns of international trade and capital flows, and monetary and fiscal policies. These developments raise questions about how to boost growth on a sustainable basis and in a way that benefits a larger share of the population.
Of course, achieving sustained economic growth also depends centrally on productivity gains, which rest in part on business dynamism. That is, a vibrant economy needs to support the creation and growth of successful firms, as well as the failure of those not keeping pace. In addition, ensuring competitive markets remains important, as increasing concentration in some industries may weigh on business "churn" and have detrimental longer-run effects.
Fiscal policy has often been discussed as having the potential to address some of these challenges, though policies that provide short-term solutions and stimulus need to be balanced against risks they may pose to longer-term sustainability. Global capital flows also remain an important area of focus, as large inflows of capital can contribute to rising asset values, posing risks to economic and financial stability.
Generating broad-based gains through dynamic business structures, along with appropriately supportive fiscal, trade, and monetary policies is vital to fostering a dynamic global economy.
The 2017 Economic Policy Symposium is an opportunity for central bankers, policy experts, and academics to discuss the range of issues around this topic.