Institute Prof. Emeritus Peter Diamond speaks with Boston Globe reporter Scot Lehigh about the Fed’s attempts to control inflation. “My message to the Fed would be, yes, we need to cool the economy, but we need to go slowly in doing so, and see how this plays out, because we shouldn’t have confidence in our predictions,” says Diamond.
Prof. Jonathan Gruber speaks with GBH Boston Public Radio co-hosts Jim Braude and Margery Eagan about the future of inflation and the potential strategies of the Federal Reverse Bank.
Prof. Jonathan Gruber speaks with Bloomberg Washington Correspondent Joe Mathieu about Affordable Care Act funding and the future of healthcare. It’s both about making these premiums more affordable for the lowest income people and giving middle-income people access to this important government program, says Gruber.
Forbes contributor Laurence Kotlikoff spotlights the work of Institute Prof. Peter Diamond. Diamond’s work, notes Kotlikoff, clarified “that there are many levels of employment at which supply equals demand, including many that are very low.”
A new analysis by Prof. Anna Stansbury and University of Michigan graduate student Richard Schultz finds that two thirds of U.S.-born PhD graduates in economics have a parent with a graduate degree, reports Andrew Van Dam for The Washington Post. Stansbury notes that she worries some of the terminology used in courses like Econ 101 “like ‘unskilled’ or ‘low ability’ to describe people who are in low-paid jobs or with little formal education, is offensive. And I can see that this would be disproportionately so to people who are coming from backgrounds where these words are describing family members and friends.”
Siblings Gia Schneider ‘99 and Abe Schneider SM ‘03 co-founded Natel, a company dedicated to developing sustainable, climate-resilient hydropower, reports Amy Gunia for TIME. “The siblings hope that what they’re doing can help demonstrate a more sustainable approach to renewable energy – proving that companies shouldn’t have to choose between what’s good for the environment and what works economically,” writes Gunia.
Prof. Simon Johnson has been working with Ukrainian President Volodymyr Zelenskiy’s economic advisors to build a plan for Ukraine, reports Daniel Flatley for Bloomberg. “The plan, as Johnson sees it, would leverage the interest that insurance companies and other firms have in facilitating the oil trade and use it to enforce the ban,” explains Flatley.
Prof. Simon Johnson and Oleg Ustenko, economic advisor to Ukrainian President Volodymyr Zelensky write for The Los Angeles Times about the importance of restarting the Ukrainian economy as the fighting continues. “The good news is that the European Union, the United States and other allies have already committed substantial resources to support Ukrainians, including when they leave the country as refugees,” write Johnson and Ustenko. “What is needed now is to adjust how those resources are deployed, to encourage these refugees to return home when it is safe to do so.”
A new paper from Prof. Roberto Rigobon, research associate Florian Berg, and research affiliate Julian Kolbel explores what causes aggregate confusion among ESG rating agencies, reports Robin Wigglesworth for the Financial Times. The paper “highlights just how tricky it is to come up with an objective, rigorous ESG investing framework,” writes Wigglesworth.
VoxDev spotlights the work of Prof. Abhijit Banerjee, Prof. Esther Duflo and graduate student Garima Sharma in studying the long-term effects targeted programs have on helping poor households escape the poverty trap. “Using a randomized controlled trial that tracked these households four, seven and ten years after the intervention, the authors find that ten years later, treated households consume about 20% more than control group households and earn about 30% more,” writes VoxDev.
Prof. Joshua Angrist speaks with The Nobel Podcast host Adam Smith about his career in economics and how winning the Nobel Prize has impacted his life. “I never stop thinking about my work,” says Angrist.
Prof. Devin Michelle Bunten and University of Pennsylvania Prof. Amy Hillier published an analysis on how to bring more queer and intersectional approaches to fair housing, reports Rachel M. Cohen for Vox. “The legality of private discrimination against most household structures mirrors the skepticism of nonnormative housing long espoused by public policy,” Bunten and Hillier write.
New York Times contributor Thomas B. Edsall spotlights Prof. Jonathan Gruber’s research that provides evidence that “lower costs of abortion led to improved outcomes in the form of an increased likelihood of college graduation, lower rates of welfare use, and lower odds of being a single parent.” Gruber noted, “The very states that oppose abortion rights are the ones that engage in poorly designed tax cuts that leave them without the resources to support their neediest citizens.”
A new study co-authored by Prof. Pierre Azoulay finds that immigrants are 80% more likely to start businesses than people born in the U.S., reports Yasmin Amer for WBUR. "[Immigrants] create more firms pretty much in every size bucket," says Azoulay. "They create more small firms, they create more medium sized firms. They create more firms that will grow up to be very large."
Writing for The Los Angeles Times, Prof. Simon Johnson and Łukasz Rachel, a research fellow at Princeton University, make the case for implementing a price cap on the cost of Russian oil. “This price cap scheme could run alongside the phase-in of a full EU embargo,” they write. “If the coalition involves non-EU countries, this arrangement will guarantee that Putin receives less money for his oil even after the EU ban kicks in.”