Undergraduate economics major Aravind Boddupalli arrived at the University of Minnesota with a passion for economic equality and empowerment. After four years of immersing himself in academic and extracurricular activities, he feels he has the knowledge, skills and experiences to launch a career tackling issues of inequality.
Not many people in town are willing to take on the Minnesota Vikings or 77,000 members of the teachers union, but Art Rolnick (PhD ’73) isn’t one to back down when the research is on his side by using economic research to improve public outcomes.
The Global Burden of Disease study (Lancet 2015) estimates that 7.8 million people died in 2013 due to ambient and household air pollution, lack of access to safe water and sanitation and exposure to lead. Over 90% of these deaths occurred in low and middle income countries. Can economic analysis help reduce this burden in a cost effective way?
The clear priority for targeted investment toward Minnesota early-education needs should be the estimated 40,000 low-income children identified as “left behind” for lack of access to high-quality early-education programs. The payoff of prioritizing — in terms of human potential, subsequent learning and avoided costs — is high.
As the nation prepares to undergo a transition in leadership, the future of health insurance is unclear. The healthcare system altered by President Obama yielded many supporters and critics alike, but politics aside, what effects did the Affordable Care Act and Medicare have on the marketplace and economy?
University of Minnesota Ph.D. alumnus Art Rolnick was selected to present the 2016 Minnesota Lecture. He shared the lessons he learned from Walter Heller and how they have helped him use economic evidence to shape political will.
“What markets do is they find for each category of skill level a wage that causes there to not be a labor shortage,” said Phelan, who predicts rising wages will help the poorest workers. “That is probably a good thing. We’ve had pretty anemic wage growth. … A tight labor market has an OK societal implication, especially on the low end.”
ISSUE 1 of 3: Policymakers should be concerned about the ability of many of the world's pension systems to deliver on their promises. It is time to build a new foundation for pension systems using the tools of quantitative economic analysis with aggregate welfare as the evaluation yardstick.
ISSUE 2 of 3: The foundation of better pension systems should be, in part, based on lifecycle portfolio choice models. These models provide clear guidance for policymakers on how to promote higher savings rates, foster appropriate investment risk-taking during working years, and encourage an alignment of institutional and individual discount rates.
ISSUE 3 of 3: The security of retirement income is best served by reliance on market pricing mechanisms, funding policies that approximate what individuals would otherwise do, clear metrics to measure progress towards secure retirement, long-term commitment to policies, and transparency about when and how rules could change.