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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

External sovereign debt restructurings: Delay and replay

Graf von Luckner, Clemens, Josefin Meyer, Carmen Reinhart, and Christoph Trebesch. "External sovereign debt restructurings: Delay and replay." VoxEU. March 2021.

Comparison of toll and annuity PPPs: a case study of highway projects in India

Mangu, Samhita, Thillai Rajan Annamalai, and Akash Deep. "Comparison of toll and annuity PPPs: a case study of highway projects in India." Built Environment Project and Asset Management 11.1 (February 2021): 103-120.

The quiet financial crisis

Reinhart, Carmen. "The quiet financial crisis." World Bank Blogs: Let's Talk Development. January 2021.

Creating Public Value: The Core Idea of Strategic Management in Government

Moore, Mark H. "Creating Public Value: The Core Idea of Strategic Management in Government." International Journal of Professional Business Review 6.1 (January 2021): 219.

Covid-19 and taxes: policies for the post-pandemic recovery

Oliver Harman, Anders Jensen, Farria Naeem, Moussa Saab, Shahrukh Wani, and Nick Wilkinson. "Covid-19 and taxes: policies for the post-pandemic recovery." International Growth Centre Policy Briefs, January 2021.

La depresión de la pandemia: la economía mundial nunca volverá a ser la misma

Reinhart, Carmen, and Vincent Reinhart. "La depresión de la pandemia: la economía mundial nunca volverá a ser la misma." Foreign affairs: Latinoamérica 21.1 (January 2021): 106-114.

The Crisis Opportunity: What It Will Take to Build Back a Better Economy

Furman, Jason. "The Crisis Opportunity: What It Will Take to Build Back a Better Economy." Foreign Affairs 100.1 (January/February 2021): 25-35.

Success Factors in Tax Digitalization

Rosengard, Jay K. "Success Factors in Tax Digitalization." United Nations Better Than Cash Alliance, October 2020.

Who is Rescuing America's Parks?

Bilmes, Linda J. "Who is Rescuing America's Parks?" Boston Globe, July 27, 2020.

US Unemployment Insurance in the Pandemic and Beyond

Furman, Jason. "US Unemployment Insurance in the Pandemic and Beyond." Peterson Institute for International Economics, July 2020.

A Perfect Fiscal Storm of Revenue Shortfalls for Cities and Towns

Bilmes, Linda J. "A Perfect Fiscal Storm of Revenue Shortfalls for Cities and Towns." Boston Globe, June 25, 2020.

Rising student loan burdens and what to do about them

Dynan, Karen. "Rising student loan burdens and what to do about them." Business Economics 55 (June 2020): 129-133.

Helping Homeowners During the Covid-19 Pandemic: Lessons from the Great Recession

Dynan, Karen, Gene Amromin, and Jane Dokko. "Helping Homeowners During the Covid-19 Pandemic: Lessons from the Great Recession." Chicago Fed Letter. June 2020.

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." Journal of Finance 75.5 (June 2020): 2377-2419.

National Fiscal Policies to Fight Recessions in US States

Dynan, Karen, and Douglas Elmendorf. "National Fiscal Policies to Fight Recessions in US States." AEA Papers and Proceedings 110 (May 2020): 131-136.

National Fiscal Policies to Fight Recessions in US States

Dynan, Karen, and Douglas Elmendorf. "National Fiscal Policies to Fight Recessions in US States." AEA Papers and Proceedings 110 (May 2020): 131-136.

Budgeting for the Sustainable Development Goals

Bilmes, Linda J. "Budgeting for the Sustainable Development Goals." United Nations Economic and Social Council, January 2020.

Six Tax-Based Ways to Tackle US Inequality

Frankel, Jeffrey A. "Six Tax-Based Ways to Tackle US Inequality." Project Syndicate, December 17, 2019.

The $64 Billion Massachusetts Vehicle Economy

Olson, Stevie, Phil Berkaw, Lucien Charland, Elizabeth Patton, and Linda J. Bilmes. "The $64 Billion Massachusetts Vehicle Economy." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP19-038, December 2019.

Measuring Household Wealth in the Panel Study of Income Dynamics: The Role of Retirement Assets

Dynan, Karen. "Measuring Household Wealth in the Panel Study of Income Dynamics: The Role of Retirement Assets." Federal Reserve Bank of Boston, September 2019.

Central Banks Should Forget About Achieving 2 Percent Inflation

Frankel, Jeffrey A. "Central Banks Should Forget About Achieving 2 Percent Inflation." The Globe and Mail, July 28, 2019.

Health Care Spending Projections and Policy Changes: Recognizing the Limits of Existing Forecasts

Shoag, Daniel. "Health Care Spending Projections and Policy Changes: Recognizing the Limits of Existing Forecasts." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP19-022, June 2019.

Participatory Budgeting: A Powerful Civic Education Tool

Goldsmith, Stephen. "Participatory Budgeting: A Powerful Civic Education Tool." Governing. June 18, 2019.

Moore Problems for the Fed?

Frankel, Jeffrey A. "Moore Problems for the Fed?" Project Syndicate, April 27, 2019.

Efficient Division When Preferences are Private: Using the Expected Externality Mechanism

Aperjis, Christina, Maciej Kotowski, and Richard Zeckhauser. "Efficient Division When Preferences are Private: Using the Expected Externality Mechanism." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP19-014, April 2019.

Sovereign Bonds since Waterloo

Meyer, Josefin, Carmen M. Reinhart, and Christoph Trebesch. "Sovereign Bonds since Waterloo." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP19-009, February 2019.

The Ripple Effects of the U.S. Government Shutdown

Bilmes, Linda J., and W. Scott Gould. "The Ripple Effects of the U.S. Government Shutdown." Barron's. January 22, 2019.

Should the Fed Be Constrained?

Frankel, Jeffrey A. "Should the Fed Be Constrained?" ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP19-003, December 2018.

To Avoid Government Shutdowns, Fix the Budget Process

Bilmes, Linda J. "To Avoid Government Shutdowns, Fix the Budget Process." Boston Globe. January 7, 2019.

Negative Nominal Interest Rates and the Bank Lending Channel

Eggertsson, Gauti B., Ragnar E. Juelsrud, Lawrence H. Summers, and Ella Getz Wold. "Negative Nominal Interest Rates and the Bank Lending Channel." January 2019.

George HW Bush Was Fiscally Responsible – Unlike Donald Trump

Frankel, Jeffrey A. "George HW Bush Was Fiscally Responsible – Unlike Donald Trump." The Guardian, December 11, 2018.

The Crisis Next Time: What We Should Have Learned from 2008

Reinhart, Carmen, and Vincent Reinhart. "The Crisis Next Time: What We Should Have Learned from 2008." Foreign Affairs 97.6 (November/December 2018): 84-97.

Stock Price Rewards to Climate Saints and Sinners: Evidence from the Trump Election

Ramelli, Stefano, Alexander F. Wagner, Richard J. Zeckhauser, and Alexandre Ziegler. "Stock Price Rewards to Climate Saints and Sinners: Evidence from the Trump Election." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP18-037, September 2018.

The Decline, Rebound, and Further Rise in Snap Enrollment: Disentangling Business Cycle Fluctuations and Policy Changes

Ganong, Peter, and Jeffrey B. Liebman. "The Decline, Rebound, and Further Rise in Snap Enrollment: Disentangling Business Cycle Fluctuations and Policy Changes." American Economic Journal: Economic Policy 10.4 (November 2018).

The Unheard Nerds: How Economists Can Talk So Policymakers Will Listen

Dynan, Karen. "The Unheard Nerds: How Economists Can Talk So Policymakers Will Listen." Foreign Affairs. November/December 2018.

Alma-Ata at 40 Years: Reflections from the Lancet Commission on Investing in Health

Watkins, David A., Gavin Yamey, Marco Schäferhoff, Olusoji Adeyi, George Alleyne, Ala Alwan, Seth Berkley et al. "Alma-Ata at 40 Years: Reflections from the Lancet Commission on Investing in Health." The Lancet 392.10156 (October 2018): 1434-1460.

Key Issues Facing California's GHG Cap-and-Trade System for 2021-2030

Schatzki, Todd, and Robert N. Stavins. "Key Issues Facing California's GHG Cap-and-Trade System for 2021-2030." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP18-025, July 2018.

The Fiscal Opacity Cycle: How America Hid the Costs of the Wars in Iraq and Afghanistan

Bilmes, Linda J. "The Fiscal Opacity Cycle: How America Hid the Costs of the Wars in Iraq and Afghanistan." Toward A Just Society: Joseph Stiglitz and Twenty-First Century Economics. Ed. Martin Guzman. Columbia University Press, 2018, 457-478.

Aging, Output Per Capita and Secular Stagnation

Eggertsson, Gauti B., Manuel Lancastre, and Lawrence H. Summers. "Aging, Output Per Capita and Secular Stagnation." National Bureau of Economic Research, August 2018.

The Globalized Myth of Ownership and Its Implications for Tax Competition

Risse, Mathias, and Marco Meyer. "The Globalized Myth of Ownership and Its Implications for Tax Competition." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP18-018, June 2018.

On Market-Based Approaches to the Valuation of Capital

Sarin, Natasha, and Lawrence H. Summers. "On Market-Based Approaches to the Valuation of Capital." June 2018.

Opening Adaptation Windows onto Public Financial Management Reform Gaps in Mozambique

Andrews, Matthew, Tim McNaught, and Salimah Samji. "Opening Adaptation Windows onto Public Financial Management Reform Gaps in Mozambique." ÌÇÐÄvlog¹ÙÍø Faculty Research Working Paper Series RWP18-017, May 2018.

Secular Stagnation and Macroeconomic Policy

Summers, Lawrence H. "Secular Stagnation and Macroeconomic Policy." IMF Economic Review 66.2 (June 2018): 226–250.

Taxes for Health: Evidence Clears the Air

Summers, Lawrence H. "Taxes for Health: Evidence Clears the Air." The Lancet 391.10134 (May 2018): 1974-1976.

The Permanent Effects of Fiscal Consolidations

Fatas, Antonio, and Lawrence H. Summers. "The Permanent Effects of Fiscal Consolidations." Journal of International Economics 112 (May 2018): 238-250.

Capital Controls: Myth and Reality

Magud, Nicolas E., Carmen M. Reinhart, and Kenneth S. Rogof. "Capital Controls: Myth and Reality." Annals of Economics and Finance 19.1 (May 2018): 1-47.

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.

Macroeconomic Effects of the 2017 Tax Reform

Barro, Robert J., and Jason Furman. "Macroeconomic Effects of the 2017 Tax Reform." Brookings Papers on Economic Activity (Spring 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.

Cities on a Hill?

Mayne, Quinton. "Cities on a Hill?" Boston Review. February 13, 2018.