Sound economic research is the foundation of a robust economic policy. With this thought in mind, the University of Minnesota and the Federal Reserve Bank of Minneapolis entered into a partnership 50 years ago that produced groundbreaking research. In August of 2019, the University celebrated this collaboration with the Four Horsemen of the Economic Revolution event.
For undergraduates Alex Djanin and Nikhil Saxena, the path to getting a PhD in economics starts with immersing themselves in research. Under the guidance of Assistant Professor Joseph Mullins, Djanin and Saxena are learning how to navigate through the research process.
The Greater Metro Auto Dealers Association worked with Professor Amil Petrin to understand the full impact of the annual spring event. Thousands of attendees spend on concessions, parking, hotels, and other tourist activities in conjuctions with the auto show. Daily per-person spending is on par with other high-profile events such as the Super Bowl and Final Four.
The United States and China are in the midst of a tariff battle that has roiled world markets. There are also signs that the world economy is slowing, and that’s prompted fears of recession. University of Minnesota Professor of Economics Timothy Kehoe joins us to discuss trade tensions, their impact on Minnesota-based companies such as Best Buy and Target, and the overall state of the economy.
Fatih Guvenen: “The U.S. economy is growing. But we have a decomposition. Not everyone is getting the benefit. We know where the money goes. It goes to the top 1 or 2 percent. And, more than in the past, the money goes to women.”
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.