Policy & the Economy
![Donkey and elephant write on computers](/imager/clientcontent/264866/Full_0621_Government_Employees_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/264866/Full_0621_Government_Employees_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/264866/Full_0621_Government_Employees_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
June 1, 2021
Civil Servants Often Work for Administrations They Disagree with Politically. How Does This Affect Their Job Performance?
While the benefits of insulating career bureaucrats are clear, new research explores whether there are downsides, too.
Jörg L. Spenkuch, Edoardo Teso and Guo Xu
![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
![Doctor checks patient using stethoscope](/imager/clientcontent/264390/Full_0521_healthcare_efficiency_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/264390/Full_0521_healthcare_efficiency_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/264390/Full_0521_healthcare_efficiency_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
May 17, 2021
Taking the Pulse of the Changing U.S. Healthcare Ecosystem
As healthcare gets more complex—and more expensive—business models are adapting to address misaligned interests and incentives.
Craig Garthwaite
![patients and healthcare workers in modern hospital lobby](/imager/clientcontent/259893/Full_0521_hospital_Care_5c621eb290976bb68ce27dcce9812a2e.jpg 600w, /imager/clientcontent/259893/Full_0521_hospital_Care_1ad0950c3d4adee4b8bb435a19b4e82f.jpg 300w, /imager/clientcontent/259893/Full_0521_hospital_Care_f0c3896cfd15afec226a19815d0e7fce.jpg 25w)
May 10, 2021
How Regulating Hospital Prices Can Impact Patient Care
There are tangible benefits for quality of care when hospitals compete for higher-paying patients.
Craig Garthwaite, Christopher Ody and Amanda Starc
![](/imager/clientcontent/262233/Full_0521_infrastructure_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/262233/Full_0521_infrastructure_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/262233/Full_0521_infrastructure_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
May 4, 2021
Why Spending Big on U.S. Infrastructure Makes Sense
A Kellogg professor explains the new appetite for large public investment—and how the American Jobs Act would deliver.
David A. Besanko
![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
![Shoppers use debit card terminal](/imager/clientcontent/258985/Full_0421_Debit_Cards_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/258985/Full_0421_Debit_Cards_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/258985/Full_0421_Debit_Cards_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
April 1, 2021
How Debit Cards Are Helping Low-Income Households Save—and Benefiting Their Neighbors Too
A federal initiative in Mexico had huge spillover effects.
Pierre Bachas, Paul Gertler, Sean Higgins and Enrique Seira
![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
![Student distance learning on computer at school](/imager/clientcontent/254383/Full_0221_distance_learning_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/254383/Full_0221_distance_learning_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/254383/Full_0221_distance_learning_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
March 1, 2021
There’s an Education Gap Between Rural and Urban Communities. Can Technology Bridge It?
Researchers identified a program that helps rural students learn—and improves their incomes later in life.
Nicola Bianchi, Yi Lu and Hong Song
![woman phone contact tracing](/imager/clientcontent/256528/Full_0321_Contact_Tracing_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/256528/Full_0321_Contact_Tracing_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/256528/Full_0321_Contact_Tracing_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
March 1, 2021
Contact Tracing Is Failing in the U.S. Here’s How to Fix It.
For starters, turn responsibility over to local organizations and communities, where trust is higher.
Sarit Markovich
![Politician and businessman congratulate each other at party.](/imager/clientcontent/254385/Full_0221_Political_Influence_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/254385/Full_0221_Political_Influence_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/254385/Full_0221_Political_Influence_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
February 1, 2021
Do Powerful Politicians Play Favorites with Their Corporate Friends?
A new study examines the power of public scrutiny to keep high-ranking officials in check.
Quoc-anh Do, Yen-Teik Lee, Bang D. Nguyen and Kieu-Trang Nguyen
![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
![Epidemiologist and Politician give news conference](/imager/clientcontent/253382/Full_0121_Science_Policy_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/253382/Full_0121_Science_Policy_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/253382/Full_0121_Science_Policy_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
January 7, 2021
How Well Does COVID Public Policy Align with Science?
In an era of misinformation, policy based on “dubious science” could mean a greater loss of life and economic hardship.
Yian Yin, Jian Gao, Benjamin F. Jones and Dashun Wang
![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
![Angel investor flies in with funds for entrepreneur](/imager/clientcontent/250562/Full_1220_Angel_investor_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/250562/Full_1220_Angel_investor_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/250562/Full_1220_Angel_investor_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
December 1, 2020
Should Local Governments Be Offering Tax Credits to Angel Investors?
New research casts doubt on whether these incentives actually spur innovation and economic growth.
Matthew Dennes, Sabrina Howell, Filippo Mezzanotti, XinXin Wang and Ting Xu
![Young men stand in front of recruiting office](/imager/clientcontent/250561/Full_1220_Uncle_Sam_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/250561/Full_1220_Uncle_Sam_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/250561/Full_1220_Uncle_Sam_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
December 1, 2020
How Racism Discouraged Volunteer Enlistment Immediately after Pearl Harbor
New research examines what happened when Black and Japanese men, who were battling discrimination at home, were asked to fight injustice abroad.
Nancy Qian and Marco Tabellini
![A person watches direct-to-consumer TV drug advertising.](/imager/clientcontent/34268/Full_1120_Pharma_Blockbuster_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/34268/Full_1120_Pharma_Blockbuster_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/34268/Full_1120_Pharma_Blockbuster_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
November 23, 2020
Is Pfizer’s COVID-19 Vaccine the Next Blockbuster Drug?
Investors are keeping a close eye on the drug firm’s vaccine advances. But the company’s longer-term fortunes may lie elsewhere.
Efraim Benmelech
![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
![people social distance in a town square](/imager/clientcontent/248472/Full_1120_Civic_Capital_ed70ba7fff77c9fd60c2624db9acdf1d.jpg 600w, /imager/clientcontent/248472/Full_1120_Civic_Capital_9c164550f17b68a3a905c55008f1b636.jpg 300w, /imager/clientcontent/248472/Full_1120_Civic_Capital_2ea97daf9584eb0a9356116bfb5b61d0.jpg 25w)
November 4, 2020
One Key Trait That Predicts How Much People Will Socially Distance
This new research could help policymakers deliver more effective COVID-safety messaging.
John Barrios, Efraim Benmelech, Yael V Hochberg, Paola Sapienza and Luigi Zingales
![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
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