U of M Humphrey School of Public Affairs senior fellow and HHEI board member Art Rolnick speaks on the history of collaboration between University of Minnesota economists and the Federal Reserve Bank of Minneapolis, including how academic research influences public policy and vice versa.
The biggest issue for public pension policy design is the misalignment of interests between policymakers and other constituencies. Using analytic frameworks, policymakers, union leaders, and other stakeholders can analyze alternative policies.
Using the model developed in earlier briefs, the welfare consequences of Rhode Island’s recent pension reforms are analyzed. This stylized example suggests that Rhode Island-style pension reform can improve economic welfare for both taxpayers and beneficiaries.
The share of women who are top earners has increased in past decades. Women made up 1.9% of the top 0.1% of earners in the U.S. between 1981 and 1985, according to research by Fatih Guvenen, Greg Kaplan and Jae Song.
On Thursday, August 22 for a conversation with the Four Horsemen of Minnesota Economics – Ed Prescott, Tom Sargent, Chris Sims, and Neil Wallace – to explore how their research can help address today’s most pressing economic policy challenges.
Fatih Guvenen, professor of economics at the University of Minnesota, has called this a “use it or lose it” effect. He argues "that a net wealth tax effectively redistributes from those who invest their capital badly to those who find high-return uses for it."