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The CEA: An Inside Voice for Mainstream Economics

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  • Charles L. Schultze

Abstract

After initially concentrating on macroeconomic policy, the Council of Economic Advisors (CEA) soon began to provide the president with advice on virtually all issues with economic content. On a wide range of issues there has been a commonality of advice given by the CEA to administrations of both parties, reflecting a broad consensus within the mainstream economics profession especially on microeconomics. While the differences within the profession and among various CEAs on issues of macroeconomic stabilization have narrowed, differences in assessing the supply-side effect of changes in taxes have grown in importance.

Suggested Citation

  • Charles L. Schultze, 1996. "The CEA: An Inside Voice for Mainstream Economics," Journal of Economic Perspectives, American Economic Association, vol. 10(3), pages 23-39, Summer.
  • Handle: RePEc:aea:jecper:v:10:y:1996:i:3:p:23-39 Note: DOI: 10.1257/jep.10.3.23
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    1. Edmund S. Phelps, 1968. "Money-Wage Dynamics and Labor-Market Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 76, pages 678-678.
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    Cited by:

    1. Bonnen, James T. & Schweikhardt, David B., 1997. "Getting From Economic Analysis To Policy Advice," Staff Papers 11618, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    2. Tilman Slembeck, 1997. "The Formation of Economic Policy: A Cognitive-Evolutionary Approach to Policy-Making," Constitutional Political Economy, Springer, pages 225-254.
    3. repec:elg:eechap:1929_15 is not listed on IDEAS
    4. Arne HEISE, 2016. "‘Why has economics turned out this way?’ A socio-economic note on the explanation of monism in economics," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 10(1), pages 81-101, November.
    5. Rüdiger Pethig, 1999. "On the Future of Environmental Economics," Volkswirtschaftliche Diskussionsbeiträge 77-99, Universität Siegen, Fakultät Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht.
    6. Yasushi Iwamoto, 2005. "Interaction between Monetary and Fiscal Policy and the Policy Mix, Theoretical Consideration and Japanese Experience," CIRJE F-Series CIRJE-F-365, CIRJE, Faculty of Economics, University of Tokyo.
    7. Blank, Rebecca M., 2002. "What do economists have to contribute to policy decision-making?," The Quarterly Review of Economics and Finance, Elsevier, vol. 42(5), pages 817-824.
    8. Amy Koritz & Douglas Koritz, 2001. "Checkmating the Consumer: Passive Consumption and the Economic Devaluation of Culture," Feminist Economics, Taylor & Francis Journals, pages 45-62.
    9. Bruno Frey, 2006. "How Influential is Economics?," De Economist, Springer, pages 295-311.
    10. Ulf Papenfuß & Tobias Thomas, 2007. "Eine Lanze für den Sachverständigenrat? Plädoyer für eine differenziertere Analyse wirtschaftswissenschaftlicher Beratungsinstitutionen," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 8(4), pages 335-358, November.
    11. Donihue, Michael & Kitchen, John, 1999. "The Troika process: Economic models and macroeconomic policy in the USA," MPRA Paper 22216, University Library of Munich, Germany.
    12. Bruno S. Frey, 2000. "Was Bewirkt die Volkswirtschaftslehre?," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 1(1), pages 5-33, February.
    13. Brian Goff, 2010. "Do differences in presidential economic advisers matter?," Public Choice, Springer, vol. 142(3), pages 279-291, March.
    14. Watanabe, Kou, 2014. "Optimale Rahmenbedingungen in der wirtschaftspolitischen Beratung: Vier Konzepte als institutionelle Ergänzung," DICE Ordnungspolitische Perspektiven 59, University of Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    15. Robert W. Hahn & Paul C. Tetlock, 2008. "Has Economic Analysis Improved Regulatory Decisions?," Journal of Economic Perspectives, American Economic Association, vol. 22(1), pages 67-84, Winter.
    16. Coenen, Michael & Watanabe, Kou, 2016. "Institutionelle Ergänzungen für die wirtschaftspolitische Beratung," DICE Ordnungspolitische Perspektiven 82, University of Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    17. Jason Shogren, 1998. "A Political Economy in an Ecological Web," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, pages 557-570.

    More about this item

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • N42 - Economic History - - Government, War, Law, International Relations, and Regulation - - - U.S.; Canada: 1913-

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