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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

US will Lack Fiscal Space to Respond when Next Recession Comes

Frankel, Jeffrey A. "US will Lack Fiscal Space to Respond when Next Recession Comes." The Guardian, August 28, 2018.

Money, Millennials and Human Rights: Sustaining ‘Sustainable Investing’

Ruggie, John Gerard, and Emily K. Middleton. "Money, Millennials and Human Rights: Sustaining ‘Sustainable Investing’." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP18-023, August 2018.

Upping the Ante: The Equilibrium Effects of Unconditional Grants to Private Schools

Andrabi, Tahir, Jishnu Das, Asim Ijaz Khwaja, Selcuk Ozyurt, and Niharika Singh. "Upping the Ante: The Equilibrium Effects of Unconditional Grants to Private Schools." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP18-019, July 2018.

Inside a Multinational Corporation Combining Commercial and Social Objectives

Geradts, Thijs, Julie Battilana, and Marissa Kimsey. "Inside a Multinational Corporation Combining Commercial and Social Objectives." Academy of Management Proceedings 2018.1 (2018).

Round Hole, Square Peg? Sustaining Dual Social And Commercial Goals In A Cooperative Bank

Bacq, Sophie Catherine, Julie Battilana, and Hélène Bovais. "Round Hole, Square Peg? Sustaining Dual Social And Commercial Goals In A Cooperative Bank." Academy of Management Proceedings 2018.1 (2018).

Shops and the City: Evidence on Local Externalities and Local Government Policy from Big-Box Bankruptcies

Shoag, Daniel, and Stan Veuger. "Shops and the City: Evidence on Local Externalities and Local Government Policy from Big-Box Bankruptcies." Review of Economics and Statistics 100.3 (July 2018): 440-453.

Potential vs. Realized Savings under Automatic Enrollment

Beshears, John, James J. Choi, David Laibson, and Brigitte C. Madrian. "Potential vs. Realized Savings under Automatic Enrollment." TIAA Institute, July 2018.

Behavioral Household Finance

Beshears, John, James J. Choi, David Laibson, and Brigitte C. Madrian. "Behavioral Household Finance." Handbook of Behavioral Economics 1 177-276.

Misperceptions of Relative Affluence and Support for International Redistribution

Nair, Gautam. "Misperceptions of Relative Affluence and Support for International Redistribution." The Journal of Politics 80.3 (July 2018): 815-830.

Testimony to Hearing on ‘Market Concentration’

Furman, Jason. "Testimony to Hearing on ‘Market Concentration’." Testimony before the Organisation for Economic Co-operation and Development, June 7, 2018.

A Firm-Level Perspective on the Role of Rents in the Rise in Inequality

Furman, Jason, and Peter Orszag. "A Firm-Level Perspective on the Role of Rents in the Rise in Inequality." Toward a Just Society: Joseph Stiglitz and Twenty-First Century Economics. Ed. Martin Guzman. Columbia University Press, 2018.

Slower Productivity and Higher Inequality: Are They Related?

Furman, Jason, and Peter Orszag. "Slower Productivity and Higher Inequality: Are They Related?" June 2018.

The Value of Precision in Probability Assessment: Evidence from a Large-Scale Geopolitical Forecasting Tournament

Friedman, Jeffrey A., Joshua D. Baker, Barbara A. Mellers, Philip E. Tetlock, and Richard Zeckhauser. "The Value of Precision in Probability Assessment: Evidence from a Large-Scale Geopolitical Forecasting Tournament." International Studies Quarterly 62 (June 2018): 410-422.

Identification and Estimation of Dynamic Causal Effects in Macroeconomics Using External Instruments

Stock, James H., and Mark W. Watson. "Identification and Estimation of Dynamic Causal Effects in Macroeconomics Using External Instruments." The Economic Journal 128.610 (May 2018): 917-948.

Liquidity Risk in Sequential Trading Networks

Kariv, S., Maciej H. Kotowski, and C. M. Leister. "Liquidity Risk in Sequential Trading Networks." Games and Economic Behavior 109 (May 2018): 565-581.

Review of Burgundy: People with a Passion for Wine

Stavins, Robert N. Review of Burgundy: People with a Passion for Wine, by Rudi Goldman. Wine Economics, 13.1, Spring 2018: 105-108.

Rethinking the Macroeconomics of Resource-Rich Countries

Arezki, Rabah, Raouf Boucekkine, Jeffrey A. Frankel, and Rick van der Ploeg, eds. Rethinking the Macroeconomics of Resource-Rich Countries. Center for Economic Policy Research, 2018.

The Growth of the World Economy

Jorgenson, Dale W. "The Growth of the World Economy." Productivity Dynamics in Emerging and Industrialized Countries. Ed. Deb Kusum Das. Routledge, 2018, 81-91.

Adapting Tax Systems for Population Aging

Dynan, Karen. "Adapting Tax Systems for Population Aging." Business Economics 53.2 (April 2018): 66-71.

Monopolies, Mergers and Competition Policy

Scherer, F.M. Monopolies, Mergers and Competition Policy. Edward Elgar Publishing, 2018.

Is Technology Hurting Productivity?

Frankel, Jeffrey A. "Is Technology Hurting Productivity?" Korea Herald, March 20, 2018.

Business Leaders Can Reverse the ‘Implosion of Trust’

Born, Dana, and Josh A. Goldstein. "Business Leaders Can Reverse the ‘Implosion of Trust’." Boston Globe, March 15, 2018.

Investment versus Output Subsidies: Implications of Alternative Incentives for Wind Energy

Aldy, Joseph, Todd Gerarden, and Richard Sweeney. "Investment versus Output Subsidies: Implications of Alternative Incentives for Wind Energy." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP18-012, March 2018.

Exponential Innovation and Human Rights: Implications for Science and Technology Diplomacy

Juma, Calestous. "Exponential Innovation and Human Rights: Implications for Science and Technology Diplomacy." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP18-011, February 2018.

Gains from Digitization: Evidence from Gift-Giving in Music

Dogan, Pinar, and Marc Bourreau. "Gains from Digitization: Evidence from Gift-Giving in Music." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP18-010, February 2018.

VIX Surge is a Wake-up Call for Investors

Frankel, Jeffrey A. "VIX Surge is a Wake-up Call for Investors." Barron's, February 24, 2018.

Collective Action in an Asymmetric World

Chen, Cuicui, and Richard Zeckhauser. "Collective Action in an Asymmetric World." Journal of Public Economics 158 (February 2018): 103-112.

African Regional Economic Integration: The Emergence, Evolution, and Impact of Institutional Innovation

Juma, Calestous, and Francis Mangeni. "African Regional Economic Integration: The Emergence, Evolution, and Impact of Institutional Innovation." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP18-003, January 2018.

Unequal Rewards to Firms: Stock Market Responses to the Trump Election and the 2017 Corporate Tax Reform

Wagner, Alexander F., Richard J. Zeckhauser, and Alexandre Ziegler. "Unequal Rewards to Firms: Stock Market Responses to the Trump Election and the 2017 Corporate Tax Reform." AEA Papers and Proceedings 108 (January 2018): 590-596.

Trading Networks and Equilibrium Intermediation

Kotowski, Maciej, and C. Matthew Leister. "Trading Networks and Equilibrium Intermediation." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP18-001, January 2018 (Updated June 2019).

High-Priced Drugs in Medicare Part D: Diagnosis and Potential Prescription

Frank, Richard G., and Richard J. Zeckhauser. "High-Priced Drugs in Medicare Part D: Diagnosis and Potential Prescription." January 2018.

New Prospects for Organizational Democracy? How the Joint Pursuit of Social and Financial Goals Challenges Traditional Organizational Designs

Battilana, Julie, Michael Fuerstein, and Mike Lee. "New Prospects for Organizational Democracy? How the Joint Pursuit of Social and Financial Goals Challenges Traditional Organizational Designs." Capitalism Beyond Mutuality?: Perspectives Integrating Philosophy and Social Science. Ed. Subramanian Rangan. Oxford University Press, 2018.

On Asymmetric Reserve Prices

Kotowski, Maciej. "On Asymmetric Reserve Prices." Theoretical Economics 13.1 (January 2018): 205-237.

An Efficient Western Energy Imbalance Market with Conflicting Carbon Policies.

Hogan, William W. "An Efficient Western Energy Imbalance Market with Conflicting Carbon Policies." The Electricity Journal 30.10 (December 2017): 8-15.

The Efficiency Consequences of Heterogeneous Behavioral Responses to Energy Fiscal Policies

Houde, Sebastien, and Joseph E. Aldy. "The Efficiency Consequences of Heterogeneous Behavioral Responses to Energy Fiscal Policies." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP17-047, December 2017.

The Concept of ‘Due Diligence’ in the UN Guiding Principles on Business and Human Rights: A Reply to Jonathan Bonnitcha and Robert McCorquodale

Ruggie, John Gerard, and John F. Sherman III. "The Concept of ‘Due Diligence’ in the UN Guiding Principles on Business and Human Rights: A Reply to Jonathan Bonnitcha and Robert McCorquodale." European Journal of International Law 28.3 (November 2017): 921-928.

The Design of Environmental Markets: What Have We Learned from Experience with Cap and Trade?

Schmalensee, Richard, and Robert N. Stavins. "The Design of Environmental Markets: What Have We Learned from Experience with Cap and Trade?" Oxford Review of Economic Policy 33.4 (November 2017): 572-588.

If Many Seek, Ye Shall Find: Search Externalities and New Goods

Kotowski, Maciej, and Richard Zeckhauser. "If Many Seek, Ye Shall Find: Search Externalities and New Goods." American Economic Journal: Microeconomics 9.4 (November 2017): 42-73.

Why has Regional Income Convergence in the US Declined?

Shoag, Daniel, and Peter Ganong. "Why has Regional Income Convergence in the US Declined?" Journal of Urban Economics 102 (November 2017): 76-90.

Building Emergency Savings through Employer-Sponsored Rainy Day Savings Accounts

Beshears, John, James J. Choi, J. Mark Iwry, David C. John, David Laibson, and Brigitte C. Madrian. "Building Emergency Savings through Employer-Sponsored Rainy Day Savings Accounts." October 2017.

Linking Heterogeneous Climate Policies (Consistent with the Paris Agreement)

Mehling, Michael A.; Metcalf, Gilbert E.; and Stavins, Robert N. "Linking Heterogeneous Climate Policies (Consistent with the Paris Agreement)." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP17-042, September 2017.

Paths to Convergence: Stock Price Adjustment After the Trump Election Shock

Wagner, Alexander F., Richard J. Zeckhauser, and Alexandre Ziegler. "Paths to Convergence: Stock Price Adjustment After the Trump Election Shock." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP17-039, September 2017 (Updated July 2018).

Blurring the Boundaries: The Interplay of Gender and Local Communities in the Commercialization of Social Ventures

Dimitriadis, Stefan, Matthew Lee, Lakshmi Ramarajan, and Julie Battilana. "Blurring the Boundaries: The Interplay of Gender and Local Communities in the Commercialization of Social Ventures." Organization Science (August 2017).

The Social Construction of the UN Guiding Principles on Business & Human Rights

Ruggie, John Gerard. "The Social Construction of the UN Guiding Principles on Business & Human Rights." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP17-030, June 12, 2017.

Terroir in the New World: Hedonic Estimation of Vineyard Sale Prices in California

Cross, Robin, Andrew J. Plantinga, and Robert N. Stavins. "Terroir in the New World: Hedonic Estimation of Vineyard Sale Prices in California." Journal of Wine Economics 12.3 (August 2017): 282-301.

Like a Fish in Water: An Essay on the Benefits of Government That Nobody Notices

Kelman, Steven. "Like a Fish in Water: An Essay on the Benefits of Government That Nobody Notices." August 2017.

Bad Credit, No Problem? Credit and Labor Market Consequences of Bad Credit Reports

Dobbie, Will, Paul Goldsmith-Pinkham, Neale Mahoney, and Jae Song. "Bad Credit, No Problem? Credit and Labor Market Consequences of Bad Credit Reports." June 2017.

Multinationals as Global Institution: Power, Authority and Relative Autonomy

Ruggie, John Gerard. "Multinationals as Global Institution: Power, Authority and Relative Autonomy." Regulation & Governance (June 2017).

Leadership on the Line: Staying Alive through the Dangers of Change

Heifetz, Ronald A., and Marty Linsky. Leadership on the Line: Staying Alive through the Dangers of Change, 2. Harvard Business Review Press, 2017.

CEO Clarity

Dzielinski, Michal, Alexander F. Wagner, and Richard J. Zeckhauser. "CEO Clarity." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP17-017, May 2017.