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Towards a new industrial policy: The United States economic policy agenda post-COVID-19

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  • Velloso, Helvia
  • Artecona, Raquel

Abstract

This document examines the United States economic policy agenda proposed by President Joe Biden following his inauguration in January 2021, the discussions in the United States Congress since then, and the resulting legislations that have been signed into law. It also details government efforts to address supply chain bottlenecks and legislative efforts to pass a unified bill on increasing innovation and strengthening competitiveness. Four major legislations –the American Rescue Plan Act, the Infrastructure Investment and Jobs Act, the CHIPS and Science Act, and the Inflation Reduction Act– were signed into law as a result. The last three together suggest that the United States government appears to be moving towards a new industrial policy, focused on semiconductors and defense technology, and on clean energy.

Suggested Citation

  • Velloso, Helvia & Artecona, Raquel, 2022. "Towards a new industrial policy: The United States economic policy agenda post-COVID-19," Studies and Perspectives – ECLAC Office in Washington 48338, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    • Handle: RePEc:ecr:col034:48338
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    1. Jan De Loecker & Jan Eeckhout & Gabriel Unger, 2020. "The Rise of Market Power and the Macroeconomic Implications [“Econometric Tools for Analyzing Market Outcomes”]," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 135(2), pages 561-644.
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    1. -, 2022. "United States economic outlook: Inflation trends post COVID-19," Oficina de la CEPAL en Washington (Estudios e Investigaciones) 48514, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    2. S. V. Zhukov & O. B. Reznikova, 2023. "Energy Transition in the United States, Europe and China: Latest Trends," Studies on Russian Economic Development, Springer, vol. 34(4), pages 439-449, August.

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