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: * Jeremy Stein (February 2019) * Alberto Alesina (July 2018) * Ed Glaeser (July 2018) * Meg Rithmire (June 2018) * Jonathan Zittrain (June 2018) * Shane Greenstein (May 2018) * Annette Gordon-Reed (May 2018) * Rafael Di Tella (April 2018) * […]

Jeremy Stein on income inequality, monetary policy and the bond market, and preventing the next financial crisis February 2019. GrowthPolicy’s Devjani Roy interviewed Jeremy Stein, the Moise Y. Safra Professor of Economics and Chairman of the Department of Economics at Harvard University, on income inequality, monetary policy and the bond market, and preventing the next […]

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What Green New Deal advocates can learn from the 2009 economic stimulus act. Joseph Aldy, February 15, 2019, Opinion, “Congressional Democrats have introduced a “Green New Deal” proposal that calls for a 10-year national mobilization to curb climate change by shifting the U.S. economy away from fossil fuels. Many progressives support this idea, while skeptics argue that a decade is not long enough to remake our nation’s energy system.Link

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Economic Strategy for Higher Wages and Expanded Labor Participation. Jason Furman, Martin Feldstein, 2019, Paper, “We propose two alternative policy options for promoting increased earnings and employment of low-income households: expanding the Earned Income Tax Credit (EITC) among childless workers, and implementing a wage subsidy for low-income workers that would be administered through employers. The EITC is based on household income and administered as a tax credit, while the subsidy based on hourly wages would require no filing or administrative effort by workers. We compare and contrast the costs and benefits of these two approaches to raising wages. Our two policy options are meant as part of a response to the sluggish income growth at the bottom of the distribution over the past several decades.Link

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Tarun Khanna Talks Trust with Knowledge@Wharton. Tarun Khanna, February 14, 2019, Audio, “In his book, Professor Khanna discusses the inherent trust that comes with the established customs and institutions of the developed world — through contracts, regulatory bodies, and so on — but this practice is seen less in the developing world. As a result, entrepreneurs looking to work in the developing world must first build a basis of trust with the individuals they’ll be working with if they want to be successful.” Link

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Managerial Control and Executive Compensation. F.M. Scherer, February 9, 2019, Paper, “This article analyzes the trajectory and causes of the explosion of American corporate CEOs’ compensation relative to that of average workers between 1958 and 2017. The historical data are presented and analyzed in more detail for 2016 and 2017. Important biases in alternative data sets are explored. Alternative hypotheses for the dramatic changes over time are proposed but not resolved. Among other things, the paper investigates the role of tax and other government policy changes and regulation-induced innovations in the organization of executive pay determination.Link

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The Good Jobs Challenge. Dani Rodrik, February 7, 2019, Opinion, “Every economy in the world today is divided between an advanced segment, typically globally integrated, employing a minority of the labor force, and a low-productivity segment that absorbs the bulk of the workforce, often at low wages and under poor conditions. How should policymakers address this dualism?Link

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Behavioral Economics and Development. Michael Kremer, 2019, Book Chapter, “Modern development economics was born in part as a reaction against a widespread view among scholars that peasants in poor societies were bound by tradition and could not be subject to the same type of economic analysis as people in modern industrialized societies…Link

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Financial Stability in Abnormal Times. Kenneth Rogoff, February 5, 2019, Opinion, “Despite improvements in the financial system since the 2008 crisis, the piecemeal reforms that have been enacted fall far short of what is needed. And an inexorably growing financial system, combined with an increasingly toxic political environment, means that the next major financial crisis may come sooner than you think.Link

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