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Two older people sit on a bench near a beach on a clear day.
Feature: Changes in Racial Gaps in Retirement Security over Time

Douglas Elmendorf and Karen Dynan find a large wealth disparity between White and Black families nearing retirement age, and notable wealth declines for both groups between 2001 and 2019.

A man wearing a mask talks on a cell phone.
Feature: Recovering from COVID

James Stock finds that COVID-19 recovery was unprecedented in its rapid speed but still introduced or accelerated structural economic changes, including to the labor force.

Person looks at a text message on their cell phone.
Feature: Efficacy of Text Messaging in Activating Hard-to-Reach Voters

Latanya Sweeney finds that text message reminders can effectively boost engagement and registration accuracy among hard-to-reach voters.

A person reads an academic article on a laptop.
Feature: The Global Distribution of Authorship in Economics Journals

Dani Rodrik finds that Western and Northern European authors are overrepresented in economics journals by an order of magnitude compared to authors based in low-income countries.

Harvard Kennedy School faculty disseminate their research in working publications and papers that contribute to public knowledge and fuel policy innovation. This list features recent faculty publications, including journal articles, books, edited volumes, research papers, and public testimony.

Faculty Publications

Could China's Digital Currency Unseat the Dollar?

Kumar, Aditi, and Eric Rosenbach. "Could China's Digital Currency Unseat the Dollar?" Foreign Affairs. May 20, 2020.

Why is the Euro Punching Below Its Weight?

Ilzetzki, Ethan, Carmen M. Reinhart, and Kenneth S. Rogoff. "Why is the Euro Punching Below Its Weight?" ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP20-013, May 2020.

How Are Small Businesses Adjusting to COVID-19? Early Evidence from a Survey

Bartik, Alexander W., Marianne Bertrand, Zoë B. Cullen, Edward L. Glaeser, Michael Luca, and Christopher T. Stanton. "How Are Small Businesses Adjusting to COVID-19? Early Evidence from a Survey." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP20-012, May 2020.

The Federal Fisc

Dynan, Karen, and Douglas Elmendorf. "The Federal Fisc." Harvard Magazine. May-June 2020.

Tradability and the Labor-Market Impact of Immigration: Theory and Evidence From the United States

Burstein, Ariel, Gordon Hanson, Lin Tian, and Jonathan Vogel. "Tradability and the Labor-Market Impact of Immigration: Theory and Evidence From the United States." Econometrica 88.3 (May 2020): 1071-1112.

The Cost-Effectiveness Implications of Carbon Price Certainty

Aldy, Joseph E., and Sarah Armitage. "The Cost-Effectiveness Implications of Carbon Price Certainty." AEA Papers and Proceedings 110 (May 2020): 113-18.

The Price of Biodiesel RINs and Economic Fundamentals

Irwin, Scott H., Kristen McCormack, and James H. Stock. "The Price of Biodiesel RINs and Economic Fundamentals." American Journal of Agricultural Economics 102.3 (May 2020): 734-752.

Reopening Scenarios

Baqaee, David, Emmanuel Farhi, Michael J. Mina, and James H. Stock. "Reopening Scenarios." National Bureau of Economic Research, May 2020.

Measuring the Macroeconomic Impact of Carbon Taxes

Metcalf, Gilbert E., and James H. Stock. "Measuring the Macroeconomic Impact of Carbon Taxes." AEA Papers and Proceedings 10 (May 2020): 101-106.

Dissecting the US Treasury Department’s Round 1 Allocations of CARES Act COVID-19 Relief Funding for Tribal Governments

Akee, Randall K.Q., Eric C. Henson, Miriam R. Jorgensen, and Joseph P. Kalt. "Dissecting the US Treasury Department’s Round 1 Allocations of CARES Act COVID-19 Relief Funding for Tribal Governments." May 2020.

Deep Flaws in a Mercury Regulatory Analysis

Aldy, Joseph, Matthew Kotchen, Mary Evans, Meredith Fowlie, Arik Levinson, and Karen Palmer. "Deep Flaws in a Mercury Regulatory Analysis." Science 368.6488 (April 2020): 247-248.

How the Economy Will Look After the Coronavirus Pandemic

Stiglitz, Joseph E., Robert J. Shiller, Gita Gopinath, Carmen M. Reinhart, Adam Posen, Eswar Prasad, Adam Tooze, L. D. Tyson, and Kishore Mahbubani. "How the Economy Will Look After the Coronavirus Pandemic." Foreign Policy 15 (April 2020).

US Economic Activity During the Early Weeks of the SARS-Cov-2 Outbreak

Lewis, Daniel, Karel Mertens, and James H. Stock. "US Economic Activity During the Early Weeks of the SARS-Cov-2 Outbreak." National Bureau of Economic Research, April 2020.

Measuring Real Activity Using a Weekly Economic Index

Lewis, Daniel J., Karel Mertens, James H. Stock, and Mihir Trivedi. "Measuring Real Activity Using a Weekly Economic Index." Federal Reserve Bank of New York, April 2020.

4 Quick Tips to Improve Your Business Writing

Brodsky, Lauren. "4 Quick Tips to Improve Your Business Writing." Harvard Business Review. March 18, 2020.

The Value of Carbon Capture, Utilization, and Sequestration

Chen, Cuicui, and Henry Lee. "The Value of Carbon Capture, Utilization, and Sequestration." Environment and Natural Resources Program, Belfer Center for Science and International Affairs, March 4, 2020.

Novel Risks

Kaplan, Robert S., Dutch Leonard, and Anette Mikes. "Novel Risks." March 2020.

Data Gaps and the Policy Response to the Novel Coronavirus

Stock, James H. "Data Gaps and the Policy Response to the Novel Coronavirus." National Bureau of Economic Research, March 2020.

Managerial Control and Executive Compensation

Scherer, F.M. "Managerial Control and Executive Compensation." Review of Industrial Organization 56.2 (March 2020): 315-327.

How Much Money Does the World Owe China?

Horn, Sebastian, Carmen M. Reinhart, and Christoph Trebesch. "How Much Money Does the World Owe China?" Harvard Business Review 26 (February 2020).

The Disappearing Corporate Income Tax

Furman, Jason. "The Disappearing Corporate Income Tax." U.S. House of Representatives Committee on Ways and Means, February 11, 2020.

The Fiscal Response to the Great Recession: Steps Taken, Paths Rejected, and Lessons for Next Time

Furman, Jason. "The Fiscal Response to the Great Recession: Steps Taken, Paths Rejected, and Lessons for Next Time." First Responders. Yale University Press, 2020, 451-488.

The Impacts of the U.S.-China Trade War

Hanson, Gordon. "The Impacts of the U.S.-China Trade War." Business Economics 55 (February 2020): 69–72.

Automatic Stabilizers in a Low-Rate Environment

Banchard, Olivier, and Lawrence H. Summers. "Automatic Stabilizers in a Low-Rate Environment." Peterson Institute for International Economics, February 2020.

Reopening the Coronavirus-Closed Economy

Eberly, Janice C., James H. Stock, and Jonathan H. Wright. "Reopening the Coronavirus-Closed Economy." International Journal of Central Banking 16.1 (February 2020): 5-71.

Federal Coal Program Reform, the Clean Power Plan, and the Interaction of Upstream and Downstream Climate Policies

Gerarden, Todd D., W. Spencer Reeder, and James H. Stock. "Federal Coal Program Reform, the Clean Power Plan, and the Interaction of Upstream and Downstream Climate Policies." American Economic Journal: Economic Policy 12.1 (February 2020): 167-199.

Tax Reform for Progressivity: A Pragmatic Approach

Sarin, Natasha, Lawrence Summers, and Joe Kupferberg. "Tax Reform for Progressivity: A Pragmatic Approach." The Hamilton Project, January 2020.

First-Price Auctions with Budget Constraints

Kotowski, Maciej. "First-Price Auctions with Budget Constraints." Theoretical Economics 15.1 (January 2020): 199-237.

How to Increase Growth While Raising Revenue: Reforming the Corporate Tax Code

Furman, Jason. "How to Increase Growth While Raising Revenue: Reforming the Corporate Tax Code." The Hamilton Project, January 2020.

Fundamentals of Regulatory Design

Sparrow, Malcolm K. Fundamentals of Regulatory Design, Paperback & Kindle. Kindle Direct Publishing, 2020.

The Future of U.S. Carbon-Pricing Policy

Stavins, Robert N. "The Future of U.S. Carbon-Pricing Policy." Environmental and Energy Policy and the Economy 1 (2020): 8-64.

Evaluating Regulatory Performance: Learning from and Institutionalizing Retrospective Analysis of EPA Regulations

Aldy, Joseph. "Evaluating Regulatory Performance: Learning from and Institutionalizing Retrospective Analysis of EPA Regulations." Case Western Reserve Law Review 70.4 (2020): 971-1006.

Carbon Tax Review and Updating: Institutionalizing an Act-Learn-Act Approach to U.S. Climate Policy

Aldy, Joseph. "Carbon Tax Review and Updating: Institutionalizing an Act-Learn-Act Approach to U.S. Climate Policy." Review of Environmental Economics and Policy 14.1 (Winter 2020).

Innovation Policy and the Economy

Glaeser, Edward L., and Naomi Hausman. "Innovation Policy and the Economy." Innovation Policy and the Economy 20.1 (January 2020): 233-299.

Quasi-Experimental Estimates of the Transient Climate Response Using Observational Data

Montamat, Giselle, and James H. Stock. "Quasi-Experimental Estimates of the Transient Climate Response Using Observational Data." Climatic Change (2020): 1-11.

Climate Change, Climate Policy, and Economic Growth

Stock, James H. "Climate Change, Climate Policy, and Economic Growth." NBER Macroeconomics Annual 34.1 (January 2020): 399-419.

The Debt Pandemic

Bulow, Jeremy, Carmen Reinhart, Kenneth Rogoff, and Christoph Trebesch. "The Debt Pandemic." 2020.

The Direct Effect of Taxes and Transfers on Changes in the U.S. Income Distribution, 1967–2015

Wimer, Christopher, Zachary Parolin, Anny Fenton, Liana Fox, and Christopher Jencks. "The Direct Effect of Taxes and Transfers on Changes in the U.S. Income Distribution, 1967–2015." Demography 57 (2020): 1833–1851.

Quid Pro Quo, Knowledge Spillover and Industrial Quality Upgrading

Bai, Jie, Panle Barwick, Shengmao Cao, and Shanjun Li. "Quid Pro Quo, Knowledge Spillover and Industrial Quality Upgrading." December 2019.

The Impact of Intranational Trade Barriers on Exports: Evidence from a Nationwide VAT Rebate Reform in China

Bai, Jie, and Jiahua Liu. "The Impact of Intranational Trade Barriers on Exports: Evidence from a Nationwide VAT Rebate Reform in China." December 2019.

To Serve the People: Income, Region and Citizen Attitudes towards Governance in China (2003–2016)

Turiel, Jesse, Edward Cunningham, and Anthony Saich. "To Serve the People: Income, Region and Citizen Attitudes towards Governance in China (2003–2016)." China Quarterly 240 (December 2019): 906-935.

On Trade Justice: A Philosophical Plea for a New Global Deal

Risse, Mathias, and Gabriel Wollner. On Trade Justice: A Philosophical Plea for a New Global Deal. Oxford University Press, 2019.

The Two Margin Problem in Insurance Markets

Shepard, Mark, Michael Geruso, Timothy J. Layton, and Grace McCormack. "The Two Margin Problem in Insurance Markets." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP19-035, November 2019.

Corporate Purpose in Play: The Role of ESG Investing

Ruggie, John Gerard. "Corporate Purpose in Play: The Role of ESG Investing." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP19-034, November 2019.

The Property Rights Theory of Production Networks

Balbuzanov, Ivan, and Maciej Kotowski. "The Property Rights Theory of Production Networks." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP19-033, November 2019.

State Capabilities for Problem-Oriented Governance

Mayne, Quinton, Jorrit de Jong, and Fernando Fernandez-Monge. "State Capabilities for Problem-Oriented Governance." Perspectives on Public Management and Governance (2019).

Procedural Justice and the Risks of Consumer Voting

Kim, Tami, Leslie John, Todd Rogers, and Michael Norton. "Procedural Justice and the Risks of Consumer Voting." Management Science 65.11 (November 2019): 5234-5251.

The Economic Context for Reforming the Safety Net

Dynan, Karen. "The Economic Context for Reforming the Safety Net." The ANNALS of the American Academy of Political and Social Science 686.1 (November 2019): 352-368.

Be Like an Orchestra: How to Eliminate Gender Bias in Venture Capital Funding

Bohnet, Iris, Siri Chilazi, Anisha Asundi, and Lili Gil Valletta. "Be Like an Orchestra: How to Eliminate Gender Bias in Venture Capital Funding." King’s College London’s Global Institute for Women’s Leadership, October 2019.

Saudi Arabia’s Energy Infrastructure Under Attack. What’s Next?

De Blasio, Nicola, and Henry Lee. "Saudi Arabia’s Energy Infrastructure Under Attack. What’s Next?" National Interest, October 6, 2019.