Bumpy Roads & Better Government
Ed Glaeser, a Harvard economist specializing in cities and infrastructure, emphasizes the importance of everyday infrastructure, such as road quality, in improving the daily lives of millions.
Work Longer, Die Sooner! America's Dire Need to Expand Social Security and Medicare
Experts are clear that working into old age often threatens the health and well-being of U.S. seniors.
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The Evolving Dynamics of Global Dollar Funding
What does the future hold for finance?
Re-Animating Economics
Economics can do better, and the change starts with you.
Are You Ready to Dive Deep into China's Intellectual Odyssey?
Wang Hui, author of The Rise of Modern Chinese Thought, now available in English, provides conceptual guidance for understanding China's intellectual progress in a conversation with INET’s Lynn Parramore.
Rekindling the Spirit of Innovation
What happened to the excitement of creativity?
Industrial Policy Is a Good Idea, but So Far We Don’t Have One
The American state has lost the capacity for concentrated and decisive effort at the forefront of technology and the associated science.
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Unlocking efficiency: optimal monetary policy when capital misallocation matters
Some firms have the capacity to contribute significantly to economic productivity but cannot obtain the necessary capital for investment, which instead flows to less productive firms. While “misallocation of capital” and its detrimental impact on productivity is traditionally beyond the scope of central banks, monetary policy can influence it through firms’ investment decisions. Using a New Keynesian model and granular data on Spanish firms, our results show that expansionary monetary policy reduces capital misallocation.
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