Research & Teaching
Around the campus
A new article by by Ellora Derenoncourt, Claire Montialoux, published in the The Quarterly Journal of Economics, February 202. Minimum Wages and Racial Inequality. The earnings difference between white and black workers fell dramatically in the United States in the late 1960s and early 1970s. This article shows that the expansion of the minimum wage played a critical role in this decline. Read more
A new article by Professor Maury Obstfeld highlights two channels through which globalization poses challenges for monetary policy. The first channel is through the global determination of the average world natural real rate of interest, which implies that saving and investment shifts abroad can influence the domestic interest rate setting consistent with price stability. The second channel is through global digital payments systems, which may compromise domestic policy sovereignty through effects on both monetary and financial stability. Read more
New paper by Berkeley Economics Professor Sydnee Caldwell: “Tax Refund Uncertainty: Evidence and Welfare Implications”. Read it here.
New paper by Kimberly Clausing, Emmanuel Saez, and Gabriel Zucman: Ending corporate tax avoidance and tax competition: a plan to collect the tax deficit of multinationals. Read the paper
A new paper by Isabel Z. Martinez, Emmanuel Saez, and Michael Siegenthaler estimates intertemporal labor supply responses to two-year long income tax holidays staggered across Swiss cantons. Read more
Through analysis of the Band for International Settlements (BIS) Annual Economic Reports, Professor Barry Eichengreen traces the BIS’s views on exchange rates, capital flows and financial cycles in a new book. Read more