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.
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."
This analysis focuses on how public pension policy choices impact taxpayers. There are potential gains for taxpayers when a defined contribution plan is used instead of a defined benefit plan because taxpayers are funding lower levels of insurance against adverse asset market events.
“Economics is a tool to look at public policy from a more objective view,” says Dasom Ham, an undergraduate economics major at the University of Minnesota. After three years at the University, Ham is ready to pursue a PhD in economics and influence public policy.