US will Lack Fiscal Space to Respond when Next Recession Comes
The US economy is doing well. But the next recession – and there is always another recession – could be very bad.
Research
Money, Millennials and Human Rights: Sustaining ‘Sustainable Investing’
The first part of this paper examines the rise and current state of ESG investing. The second addresses the conceptual and statistical weakness of the S domain.
Upping the Ante: The Equilibrium Effects of Unconditional Grants to Private Schools
We test for financial constraints as a market failure in education in a low-income country by experimentally allocating unconditional cash grants to either one (L) or to all (H) private schools in a v
Round Hole, Square Peg? Sustaining Dual Social And Commercial Goals In A Cooperative Bank
To examine how hybrid organizations make decisions that enable them to sustain the joint pursuit social and commercial goals, and how these decision-making processes unfold over time as tensions betwe
Inside a Multinational Corporation Combining Commercial and Social Objectives
This qualitative study explores whether, and if so how, a multinational corporation can organize itself to develop internal ventures that pursue blended, commercial and social, value at the base of th
Behavioral Household Finance
This chapter provides an overview of household finance.
Potential vs. Realized Savings under Automatic Enrollment
We studied the effect of automatic enrollment on savings plan loans and withdrawals and their implications for the evolution of retirement plan balances over time by examining the experience of a larg
Misperceptions of Relative Affluence and Support for International Redistribution
Against a backdrop of vast income disparities across countries, this article develops a theory of how misperceptions of individuals’ relative international income shape mass support for cross-national
Shops and the City: Evidence on Local Externalities and Local Government Policy from Big-Box Bankruptcies
We report three findings.
Testimony to Hearing on ‘Market Concentration’
My testimony makes five points about market concentration, all drawing from data and experience in the United States but in many cases likely generalizing to other OECD economies.
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