Benjamin M. Blau | Oct 24, 2013
This paper analyzes the characteristics of banks that received emergency loans from the Federal Reserve during the recent financial crisis. Using unique data consisting of emergency loan transactions, I provide evidence that larger banks, in terms of assets and market capitalization, were more likely to receive emergency support.
Jerry Ellig, James Broughel | Jul 16, 2013
For more than three decades, presidents have instructed executive branch agencies to use the results of Regulatory Impact Analysis (RIAs) when deciding whether and how to regulate. Scores from the Mercatus Center’s Regulatory Report Card—an in-depth evaluation of the quality and use of regulatory analysis conducted by executive branch agencies— show that agencies often fail to explain how RIAs affected their decisions. For this reason, regulatory reform should require agencies to conduct analysis before making decisions and explain how the analysis affected the decisions.
Timothy P. Roth, Adam C. Smith | Dec 20, 2012
The collapse of the federal budget process and the decline in trust in government threaten the stability of the self-governing republic that we inherited from our nation’s founders. Informed by their moral and political philosophy, we suggest an approach to reforming the budget process aimed at reclaiming that institutional trust. We argue that budget process reform must be animated by two related ideas: First, that post-constitutional statutory law must be impartial, and second, that both citizens and their elected representatives have a right to participate in, and to influence, the political process.
Matthew Mitchell, Nick Tuszynski | Jun 01, 2012
Matt Mitchell and Nick Tuszynski discuss two institutions that have been successful at controlling spending: separate taxing and spending committees, and item-reduction vetoes.
Jeff Milyo | May 02, 2012
The value of some firms is strongly affected by which party controls political power. Stock market reactions to political events demonstrate this. However, contrary to common perception, event studies do not indicate that the ability to make unlimited campaign contributions enhances a firm’s value. Geographic and personal connections to political actors matter more, although there is some evidence that personal connections may be rented via professional lobbying.
Michael L. Marlow, Sherzod Abdukadirov | Mar 01, 2012
This working paper analyzes the methods and outcomes of government efforts to control obesity rates.

Testimony & Comments

Maurice P. McTigue | Jul 08, 2016
Chairman Meadows and Ranking Member Connolly: I am honored to have been invited to testify before you on the process of competitive sourcing as an initiative in government purchases of goods and services. I am a vice president at the Mercatus Center at George Mason University, where my work over the past 15 years has focused on mechanisms that would improve the quality of governance in America. Before joining Mercatus, I served as an elected member of the New Zealand Parliament and a member of the Cabinet of New Zealand and was later appointed New Zealand’s ambassador to Canada and the Caribbean. New Zealand implemented a series of reforms to budget procedures when I served as a legislator, and Canada made major changes to its budget processes during my tenure there. My comments today will draw on my research, these experiences, and on research that we have done at the Mercatus Center on budget procedures throughout the United States.
William Beach | Jul 06, 2016
The economic world changes most and for the good in economies where rivalrous economic behavior is allowed most to flourish, that is, in economies devoted to free enterprise. The flood of new economic knowledge that these swiftly changing economies produce generally results in higher-quality products for consumers at lower prices on average, as businesses compete with each other for the consumer’s dollars and strive to better serve consumer needs. Congress has no end to the number of things it has to do, as I experienced not long ago as a staffer. Near the top of its list of “to-dos” is the protection of this amazing process of value creation through innovation, discovery, and competition. We depend utterly on the private sector to produce nearly all of the material things we value. While the public sector is a necessary partner in this production through its provision of public goods (courts of justice, defense of the country, highways, and so forth), the betterment of the American people since 1900 is almost wholly the accomplishment of competition between entrepreneurs trying to obtain the consumer’s attention for their products or services.
Veronique de Rugy | Dec 04, 2013
Despite Washington’s recent focus on the disastrous Affordable Care Act website rollout, policymakers are missing what the rollout glitches symbolize: the fundamental flaws that imbue government intervention. The work of public choice economists such as Nobel laureate James Buchanan, Gordon Tullock, Mancur Olson, and William Niskanen has shown that, despite good intentions and lavish use of taxpayer resources, government solutions are not only unlikely to solve most of our problems—they often make problems worse.
J. W. Verret | Apr 17, 2012
After a careful review of the legislative requirements that the SEC consider investor protection, efficiency, competition and capital formation in adopting new rules, I would like to simply offer a list of six items that would demonstrate a sincere commitment by the SEC to fulfill its statutory mission. The first five I will list are in fact required by law if one carefully reads the legislative and judicial history of the SEC’s mandate to consider the economic impact of new rules.
Maurice P. McTigue | Oct 20, 2011
Maurice McTigue testified before the Senate Committee on Homeland Security and Governmental Affairs, Ad Hoc Subcommittee on Disaster Recovery and Intergovernmental Affairs on ways FEMA can become more effective and efficient in reacting to disasters.
Jerry Brito | Mar 09, 2011
Jerry Brito testified before the House Committee on Oversight and Government Reform Subcommittee on Technology, Information Policy, Intergovernmental Relations, and Procurement Reform on open government and government transparency through technology.

Research Summaries & Toolkits

W. Kip Viscusi, Ted Gayer | Aug 06, 2012
In the recent Mercatus Center study, “Overriding Consumer Preferences with Energy Regulation,” Ted Gayer, co-director of the Economic Studies program at the Brookings Institution, and W. Kip Viscusi, University Distin- guished Professor of Law, Economics, and Management at Vanderbilt, examined the economic justification for recent U.S. energy regulations proposed by the U.S. Department of Energy, the U.S. Department of Transportation, and the U.S. Environmental Protection Agency (EPA). The study found that the energy-efficiency standards have a relatively minor effect on greenhouse-gas emissions, and—per the regulating agencies’ own estimates—cannot pass cost-benefit analyses based on their environmental benefits alone. To justify these regulations, the agencies relied on estimated benefits derived from correcting consumer “irrationality.”…
Jerry Ellig, Jason J. Fichtner, Maurice P. McTigue | Sep 12, 2011
Congress should conduct rigorous oversight of federal agencies and programs not just to prevent waste, fraud, and abuse, but also because current levels of spending are unsustainable, making spending cuts inevitable.
Veronique de Rugy | Jul 12, 2010
There are many budget gimmicks that U.S. government officials use to hide the size of deficits, debts, program costs, and revenue losses. Some strategies include pretending spending does not exist,…
John Garen | Jul 12, 2010
Americans are starting to understand that the rapid rise in federal spending and the associated increase in federal deficits is a matter of great concern. As the federal debt amasses, credit markets…
Arnold Kling | Jul 12, 2010
The United States long-term fiscal outlook is considered by many experts to be unsustainable. If no policy changes are made, the projections beyond 2030 are not really plausible, because by then the…
Veronique de Rugy | Jul 12, 2010
The understandable temptation to take action during a crisis should not lead lawmakers to take counterproductive actions. In response to the financial crisis, Congress passed the American Recovery…

Speeches & Presentations

Expert Commentary

Aug 25, 2016

The bottom line is — whether you value freedom intrinsically or you're a lawmaker who wants to improve your state's economic outlook or slow down out-migration — you're better off knowing where your state stands so you know what to do. "Freedom in the 50 States" will help you achieve this goal.
Aug 03, 2016

As the 2016 election rolls around, the stock market doesn’t appear to share the concerns of many observers about the prospect of a Donald Trump presidency. When the voting is done, it will be interesting to see whether Democratic or Republican fund managers do better this time around.
Jul 14, 2016

The robustness of Western governance derives from a judicial and political order whose legitimacy resides in binding those who govern to the same laws as other citizens. It is this legacy, in large part, which still inspires populations from all over the world with a desire to live in the West.
Jul 07, 2016

Making a profit by selling goods and services that consumers want to buy at given prices is the first goal of any business. If consumers aren't interested and the business doesn't adapt, it will go under. That's unless you are the U.S. Postal Service.
Jul 04, 2016

When America's Founding Fathers declared their independence more than two centuries ago, they not only claimed freedom for themselves and their fellow countrymen but they also claimed it for those who had yet to arrive at our shores --the waves of future immigrants and their descendants.
Jul 04, 2016

In summary, in many GCC ministries, key decision-making posts have lately been opened to the new generation in an effort to make use of their abilities and outside-the-box thinking. However, despite GCC millennials’ talents, their western counterparts have exhibited a dangerous flaw in their thinking: a fondness for socialist/communist policies, which is primarily the result of their not seeing first-hand the disasters witnessed by the peoples of the USSR and Eastern Europe during the twentieth century.


This week’s charts look at global arms transfers using data produced by the Stockholm International Peace Research Institute (SIPRI).



Veronique de Rugy | June 06, 2014
Veronique De Rugy Discusses State Occupational Licensing on Jimmy Barrett

Recent Events

Join Brent Skorup, Research Fellow in the Technology Policy Program, for a Capitol Hill Campus discussion of federal wireless spectrum and how it can be used more efficiently.


Jerry Brito | Feb 2010
When government refuses to make itself transparent and open and fails to make public information meaningfully available, hackers will liberate the data. It has happened many times over, and it will…

Media Clippings

Keith Hall | Oct 03, 2013
Keith Hall cited at The Wall Street Journal.
Keith Hall | Sep 30, 2013
Keith Hall cited at The Wall Street Journal.
Keith Hall | Sep 30, 2013
Keith Hall cited at The Wall Street Journal.
Keith Hall | Aug 08, 2013
Keith Hall, a researcher at George Mason University’s Mercatus Center, finds that nearly all jobs created in the past few months have been part-time gigs.
Keith Hall | Aug 07, 2013
[Keith Hall] tells McClatchy newspapers Washington Bureau that 97 percent of net job creation over the last six months has been part-time work.
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