Growthpolicy Exclusives: Interviews with Harvard Faculty on Jobs, Inequality & Preventing the Next Financial Crisis. Link

Growthpolicy Exclusives: Interviews with Harvard Faculty on Jobs, Inequality & Preventing the Next Financial Crisis: * Richard Parker (April 2016) * Jeffrey Frankel (December 2015) * Ricardo Hausmann (December 2015) * Henry Lee (November 2015) * Benjamin Friedman (October 2015) * Richard Zeckhauser (September 2015)

Walmart Tries to Make Better Savers out of the Unbanked. Brigitte Madrian, July 7, 2017, Audio, “Jamie Aronton doesn’t have a bank account. Instead, she uses Money Mart, a check cashing spot in Pittsburgh, to direct deposit her salary onto prepaid debit cards. She makes $12-an-hour in a housekeeping job and said that by the time her deposits come through her cards are pretty tapped out.Link

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China Could Export a Recession to Everyone Else. Kenneth Rogoff, July 5, 2017, Video, “Soaring debt levels in China were a serious concern as the fallout of any crisis would hit everyone else, said a former International Monetary Fund (IMF) economist on Thursday. “If there’s a country in the world which is really going to affect everyone else and which is vulnerable, it’s got to be China today,” Kenneth Rogoff, economics professor at Harvard University, told CNBC’s “Squawk Box” on Thursday.Link

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Can Innovation Save Us From Ourselves? James Heskett, July 5, 2017, Opinion, “Every year about this time McKinsey Quarterly publishes a list of books being read by select CEOs. If a book comes up frequently on the list, it may serve as the subject of this column—last year, Joshua Cooper Ramo’s book The Seventh Sense was the centerpiece of the August column. While we can’t assume that CEOs endorse what they read, it’s nevertheless interesting to know what they are thinking about.Link

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Russia’s future looks bleak without Economic and Political Reform. Kenneth Rogoff, July 5, 2017, Opinion, “When the Russian president, Vladimir Putin, meets his US counterpart, Donald Trump, at this week’s G20 summit in Hamburg, he will not be doing so from a position of economic strength. To be sure, despite the steep drop in oil prices that began three years ago, Russia has managed to escape a deep financial crisis. But while the economy is enjoying a modest rebound after two years of deep recession, the future no longer seems as promising as its leadership thought just five years ago. Barring serious economic and political reform, that bodes ill for Putin’s ability to realise his strategic ambitions for Russia.Link

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Fairness at Equilibrium in the Labor Market. Yiling Chen, July 5, 2017, Paper, “Recent literature on computational notions of fairness has been broadly divided into two distinct camps, supporting interventions that address either individual-based or group-based fairness. Rather than privilege a single definition, we seek to resolve both within the particular domain of employment discrimination. To this end, we construct a dual labor market model composed of a Temporary Labor Market, in which €rm strategies are constrained to ensure group-level fairness, and a Permanent Labor Market, in which individual worker fairness is guaranteed.Link

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How Social Policy Contributes to the Distribution of Population Health: The Case of Gender Health Equity. Jason Beckfield, July 4, 2017, Paper, “In this study we aimed to analyze gender health equity as a case of how social policy contributes to population health. We analyzed three sets of social-investment policies implemented in Europe and previously hypothesized to reduce gender inequity in labor market outcomes: childcare; active labor market programs; and long-term care. Methods: We use 12 indicators of social-investment policies from the OECD Social Expenditure Database, the OECD Family Database, and the Social Policy Indicators’ Parental Leave Benefit Dataset.Link

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The Trump administration—not the Fed—has it right on bank regulation. Hal Scott, July 3, 2017, Opinion, “All 34 of the largest banks in the United States, representing over 75 percent of U.S. banking assets, recently passed the Federal Reserve Board’s annual stress tests for the first time since the tests were created in 2011. However, celebration is very premature.Link

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