Finance & Economy
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The Connection Between Oil Prices, Stock Volatility, and Green Investments
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Amid increasing social attention on sustainability, green investments are drawing interest. Green investments inject money into firms producing and supporting eco-friendly goods and services. For instance, the MSCI Global Environment Index, a stock price index of firms that generate at least half of their revenues from eco-friendly products and services,…
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Are We Better Off with Less Social Media? Evidence Says Yes
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Whether social media is good or bad for us remains a widely contested topic. Research shows that the same social media networks that can increase voter turnout can also leave us feeling lonely and depressed. So how do we really know if social media’s benefits justify its costs? The results of…
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Full Disclosure: Financial Profiteering in Congress
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While the threat of the pandemic loomed, Senator Richard Burr (R-NC) was busy stuffing his personal coffers. On Feb. 13, just one day after he was briefed on the severity of COVID-19, Sen. Burr sold over a million dollars in stocks. One week later, the market crashed. Even some of…
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Why Pandemics Don’t Always Increase Food Insecurity
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Basic economic theory says that public health lockdowns, such as the ones being imposed during the COVID-19 pandemic, are likely to raise food prices and aggravate food insecurities in vulnerable communities. The resulting decline in market activity and the interruption of supply chains are expected to decrease household income —…
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The Case for Subsidizing COVID-19 Self-Tests
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As the world grapples with recurring waves of COVID-19 infections, policymakers are struggling to balance public health considerations with reopening the economy. While their tools are limited until a vaccine is widely available, testing can be an effective method to slow the spread of the virus. Nevertheless, tests may not…
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How Changes in SNAP Policy Can Increase Domestic Violence
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What happens when a welfare program shifts from distributing benefits on the first of the month to a staggered schedule? Research shows that while this change can reduce theft and allow families to minimize food scarcity at the end of the month, there is risk of a dangerous unintended consequence:…
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The Racial Wealth Gap and Recovering from Income Shocks
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The racial wealth gap in the United States is a legacy of nefarious actions and policies such as slavery, Jim Crow laws, and redlining. Based on data from the Survey of Consumer Finances in 2016, the median white family had a net worth of $188,200, nearly eight times that of…
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Drunk Drivers: Beware the Economists
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Every year, traffic accidents cause 50 million injuries and 1.35 million deaths globally. A staggering 90% of these deaths happen in developing countries. Though it is difficult to isolate accidents caused by drunk driving, they are estimated to represent 30% of all accidents. In countries like India with high frequencies…
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How to Tax the Rich
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President-elect Joe Biden is forming a transition team to assume office in January, but the outcome of some Senate elections are still outstanding. While the exact congressional makeup is unclear, more is known about the Biden-Harris transition team, which now includes noted Harris faculty and tax economist, Professor Damon Jones.…
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Social Networks That Help During Crises
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Humans naturally exist in social networks where they exchange ideas and form relationships. Times of collective crises magnify the importance of our social embedding. Understanding how social networks are formed—and how they adapt to new circumstances—can help ensure policy responses are designed to slow the spread of bad things, like…
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The CARES Act Offered a Radical Experiment in Cash Transfers. Here’s What We Learned.
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In March, as the world stared into a financial and epidemiological abyss, Congress acted more swiftly and dramatically to save the U.S. economy than during any crisis in American history. The CARES Act—signed into law by President Trump on March 27 after facing virtually no resistance in the House or…