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Stimulating growth and welfare in the U.S.

J MALLEY & Apostolis Philippopoulos

Macroeconomic Dynamics2026https://doi.org/10.1017/s1365100526100960article
AJG 2ABDC A
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0.50

Abstract

This paper examines how structural reforms can boost long-term growth and welfare in the U.S. economy. Using a model calibrated to historical data, we compare three reforms: reducing regulatory costs, increasing public investment, and eliminating rent-seeking. Our results show that all three improve welfare, but through different channels. Cutting regulatory burdens delivers quick efficiency gains with minimal adjustment costs. Raising public investment has the most substantial impact on growth and welfare, though it requires short-term trade-offs. Eliminating rent-seeking improves efficiency and leisure, but its growth effect is smaller. Overall, public investment emerges as the most powerful lever for growth, while regulatory simplification and institutional reform provide complementary benefits by reducing distortions, improving resource allocation, and reinforcing the efficiency gains from fiscal policy.

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https://doi.org/https://doi.org/10.1017/s1365100526100960

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@article{j2026,
  title        = {{Stimulating growth and welfare in the U.S.}},
  author       = {J MALLEY & Apostolis Philippopoulos},
  journal      = {Macroeconomic Dynamics},
  year         = {2026},
  doi          = {https://doi.org/https://doi.org/10.1017/s1365100526100960},
}

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

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