“NAFTA did a good job," explains Tim Kehoe. "Mexico is now one of the biggest trading partners for Minnesota agriculture. If renegotiations hurt Mexico, they will certainly slap restrictions on the U.S.”
By pairing economics with a major in global studies and extracurriculars, senior Riley Runnoe graduated this May with the knowledge, skills, and experience to pursue his passion for development economics.
“The University of Minnesota Department of Economics' combination of mathematical rigor and boldness of unconventional thinking has provided not only me, but countless other students with a training that is uniquely Minnesota-economics. It surely has changed my life.”
New research examining six decades of income data by Fatih Guvenen and his co-authors produces interesting findings. “We are maybe looking at the wrong place for the solution to stagnation in wages and rising inequalities,” Guvenen said. “To understand higher inequality, we should turn and take a closer look at youth.”
A new working paper by Fatih Guvenen and co-authors investigates how shifting profits overseas is impacting U.S. productivity measures. "The current international accounting system allows a lot of flexibility — you might say too much flexibility — which allows companies to shift their profits to low-tax jurisdictions," said Fatih Guvenen of the research.
Stagnant or falling earnings have put a squeeze on working- and middle-class households. And today's workers shouldn’t expect to their wages catch up with their predecessors'. These are among the conclusions from a new working paper by economics professor Fatih Guvenen and his colleagues.