Policy & the Economy
![aspects of the economy in mural form](/imager/clientcontent/257504/Full_0321_COVID_Economy_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/257504/Full_0321_COVID_Economy_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/257504/Full_0321_COVID_Economy_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
February 10, 2022
6 Takeaways on Today’s Economy
A finance professor breaks down the data on inflation, the labor market, and the future of cities.
Sergio Rebelo
![woman working from home couch with dog](/imager/clientcontent/295153/Full_0222_work_from_home_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/295153/Full_0222_work_from_home_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/295153/Full_0222_work_from_home_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
February 1, 2022
Covid Hit in an Era of Broadband and Zoom. How Much Did That Help the Economy?
A new study sheds light on the impact of remote work on GDP in 2020.
Janice C. Eberly, Jonathan Haskel and Paul Mizen
![two people stand on a scatterplot grid](/imager/clientcontent/293065/Full_0122_nonstandard_error_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/293065/Full_0122_nonstandard_error_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/293065/Full_0122_nonstandard_error_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
January 7, 2022
When a Bunch of Economists Look at the Same Data, Do They All See It the Same Way?
Not at all, according to a recent study, which showed just how much noise can be introduced by researchers’ unique analytical approaches.
Robert Korajczyk, Dermot Murphy and and coauthors
![man holding sack of money over his head while other man is crushed by sack of money](/imager/clientcontent/289491/Full_1221_small_business_loans_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/289491/Full_1221_small_business_loans_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/289491/Full_1221_small_business_loans_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
December 1, 2021
Can Larger Loans Help Small Firms Grow?
Sometimes. But it turns out that lenders are bad at figuring out which businesses will benefit.
Bryan T. Gharad, Dean Karlan and Adam Osman
![](/imager/clientcontent/286823/1121_Full_climate_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/286823/1121_Full_climate_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/286823/1121_Full_climate_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
November 1, 2021
What Businesses Must Do to Curtail Climate Change
We need to dramatically reduce carbon emissions. This will require a new system of incentives.
Meghan Busse
![coffee plantations on a hillside](/imager/clientcontent/277654/Full_0921_coffee_plants_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/277654/Full_0921_coffee_plants_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/277654/Full_0921_coffee_plants_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
September 1, 2021
In Some Markets, Competition Can Do More Harm Than Good
A study of the Rwandan coffee industry shows how informal contracts can break down as new competitors enter, resulting in higher costs and lower quality products.
Rocco Macchiavello and Ameet Morjaria
![Man walking wearing suit on left side of body and shorts on right side.](/imager/clientcontent/275887/Full_0821_Labor_force_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/275887/Full_0821_Labor_force_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/275887/Full_0821_Labor_force_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
August 11, 2021
COVID Has Accelerated These 4 Labor Market Trends
From greater flexibility to higher wages, the workplace is never going to look the same.
Benjamin Friedrich
![dollar signs stand on a road](/imager/clientcontent/275254/horizon_pricing_2021-08-05-204909_zlju_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/275254/horizon_pricing_2021-08-05-204909_zlju_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/275254/horizon_pricing_2021-08-05-204909_zlju_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
August 6, 2021
Should Americans Be Worried about Inflation Right Now?
Three economists with opposing views weigh in.
Zhengyang Jiang, Nicolas Crouzet and Efraim Benmelech
![man watches business report on television with bills on table](/imager/clientcontent/273414/Full_0821_economic_uncertainty_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/273414/Full_0821_economic_uncertainty_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/273414/Full_0821_economic_uncertainty_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
August 2, 2021
To Better Measure Economic Uncertainty, Look Beyond the Stock Market
Incorporating news sources, surveys, and even Twitter conversations can help give policymakers more nuanced data.
David Altig, Scott R. Baker, Jose Maria Barrero, Nick Bloom, Phil Bunn, Scarlet Chen and et al.
![stacks of cash on U.S. map](/imager/clientcontent/273238/Full_0721_state_funding_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/273238/Full_0721_state_funding_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/273238/Full_0721_state_funding_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
July 13, 2021
The U.S. Economy Is Still Finding Its Footing. But States Are Doing Pretty Well.
Why California is thriving—and even Illinois is on the upswing.
Therese McGuire
![globe as coronavirus](/imager/clientcontent/264674/Full_0621_global_economic_development_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/264674/Full_0621_global_economic_development_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/264674/Full_0621_global_economic_development_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
July 1, 2021
Measuring COVID’s Devastating Impact on Low- and Middle-Income Countries
Global surveys of more than 30,000 people revealed widespread drops in income, rising food insecurity, and an increase in domestic violence.
Dean Karlan, Christopher Udry and and coauthors
![US one dollar bill as puzzle with missing pieces](/imager/clientcontent/264834/Full_0621_dollar_bill_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/264834/Full_0621_dollar_bill_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/264834/Full_0621_dollar_bill_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
June 1, 2021
U.S. Firms Are Investing Heavily in Innovation, Yet Economic Productivity Has Slowed. Why?
The answer may lie in how pharmaceutical companies are targeting their R&D spending.
Efraim Benmelech, Janice C. Eberly, Joshua Krieger and Dimitris Papanikolaou
![person fills out census form race category](/imager/clientcontent/255996/Full_0321_Census_Race_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/255996/Full_0321_Census_Race_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/255996/Full_0321_Census_Race_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
April 1, 2021
To Escape Jim Crow–Era Discrimination and Violence, Some Black Men Passed as White. But How Many?
Hundreds of thousands, according to a new study of Census data. Doing so provided some economic benefits but came at a great personal cost.
Ricardo Dahis, Emily Nix and Nancy Qian
![aspects of the economy in mural form](/imager/clientcontent/257504/Full_0321_COVID_Economy_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/257504/Full_0321_COVID_Economy_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/257504/Full_0321_COVID_Economy_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
March 13, 2021
With More Stimulus Relief on the Way, Here’s a Look at America’s Covid Economy
A former Treasury official discusses where things stand now—and what the future might bring.
Janice C. Eberly
![Ambulance drives through austere neighborhood with mansions in background.](/imager/clientcontent/254384/Full_0221_Income_Inequality_Covid_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/254384/Full_0221_Income_Inequality_Covid_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/254384/Full_0221_Income_Inequality_Covid_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
February 1, 2021
Why Do COVID-19 Death Rates Differ Wildly from Place to Place?
Researchers were surprised by the variable that best predicted fatalities.
Martin Eichenbaum, Sergio Rebelo and Mathias Trabandt
![Indian farmer using cell phone](/imager/clientcontent/251706/Full_1220_Farmers_Call_center_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/251706/Full_1220_Farmers_Call_center_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/251706/Full_1220_Farmers_Call_center_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
December 4, 2020
How an Advice Hotline Is Making Farmers in India More Productive
Previous efforts to provide farmers with guidance fell short. But this venture went further.
Apoorv Gupta, Jacopo Ponticelli and Andrea Tesei
![auctioneers and bidders mingle](/imager/clientcontent/248604/Full_1120_Auction_Theory_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/248604/Full_1120_Auction_Theory_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/248604/Full_1120_Auction_Theory_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
November 11, 2020
How Auctions Help Solve Some of the World’s Most Complicated Problems
Whenever you turn your lights on, query Google, or stream a video on your phone, it’s likely an auction happened in the background. Our faculty discuss the decades of research that helped make auctions so ubiquitous.
Robert Weber, Jeroen Swinkels, Sandeep Baliga, James Schummer and Joshua Mollner
![Older customers look into a restaurant](/imager/clientcontent/247949/Full_1120_consumer_decisions_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/247949/Full_1120_consumer_decisions_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/247949/Full_1120_consumer_decisions_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
November 2, 2020
Meet the (Surprisingly Rational) COVID Consumer
Research on initial consumer spending shows that those at higher risk were making safer choices.
Sergio Rebelo, Martin Eichenbaum, Mathias Trabandt, Francisco Lima and Miguel Godinho de Matos
![Auctioneer sells ad space on search page](/imager/clientcontent/247151/Full_1120_auction_theory_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/247151/Full_1120_auction_theory_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/247151/Full_1120_auction_theory_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
October 29, 2020
What Is “Auction Theory,” and What Kinds of Questions Can It Answer?
The recent Nobel put the field of auction theory in the spotlight. An economist explains how it works, using his own research as a guide.
Paul Milgrom and Joshua Mollner
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