Past Sessions

Previous sessions matching
  • Jesús Fernández-Villaverde

    The Economics of Minimum Wage Regulations

    Professor Jesús Fernández-VillaverdeFebruary 8
    Rising concern over income inequality has yielded an upswing in support for modifying minimum wage laws. As of October 2018, ten large U.S. cities and seven states had passed laws to increase the minimum wage, typically to between $12-$15/hr, and ballot measures in the 2018 midterm elections added Missouri and Arkansas to that list. But the actual effects of minimum wages on employment, technological change, and inequality remain contested. This seminar by Professor Jesús Fernández-Villaverde will examine what the research suggests about the economic effects of minimum wage regulations, while also discussing other possible policy levers for achieving the economic goals that minimum wages are meant to target.Jesus Fernandez-Villaverde|labor
  • James G. Dinan University Professor Professor of Legal Studies & Business Ethics Professor of Law

    Antitrust in Labor Markets

    Professor Herbert HovenkampNovember 16, 2018
    Today, the share of economic output that goes to workers in the form of wages or salaries, is historically low. A number of factors may contribute to this: labor-reducing machine production; anti-union policies; innovation and high fixed costs; refusals of minimum wage laws to keep up; but also anticompetitive practices. This talk by Professor Herbert Hovenkamp addresses whether and what antitrust policy might be able do about this problem. Unreasonably low wages in relation to output are not in and of themselves an antitrust problem. However, antitrust policy is properly concerned with anticompetitive conduct that serves to suppress wages or salaries. The talk will focus on a variety of these practices – namely, “anti-poaching” agreements; mergers that enable wage suppression; employee non-compete agreements covering various categories of employees; and overly restrictive occupational licensing requirements.anti-trust|herbert hovenkamp|labor
  • William Stewart Woodside Professor Professor of Marketing

    Improving Economic Prosperity through Nation Branding

    Professor David ReibsteinOctober 19, 2018
    It is well known that companies care deeply about their brands—and with good reason: a respected name attracts customers, solidifies their loyalty, and brings in higher returns. The idea of brand identity extends beyond the corporate world, though. Countries are also brands, and a country’s brand, like a corporate brand, is economically powerful. A positive country brand brings money and economic growth to it through tourism, foreign direct investment, and foreign trade; conversely, a negative country brand is economically costly. In this seminar, Professor David Reibstein from the Wharton School, who collaborates with U.S. News & World Report in developing the Best Countries Rankings, examined nation branding as it applies to the U.S., and presented information on why a country should care about their brand globally and the role that public policy plays in shaping and communicating that brand to the world.behavioral economics|David Reibstein|right
    View summary » It is generally considered good business practice for a company to invest in its brand. A positive brand image typically results in a more loyal customer base and an overall increase in profit. Likewise, nations have brands, and the reputation of a country has an economic impact on its gross domestic product (GDP).
  • Assistant Professor Faculty Research Fellow, National Bureau of Economic Research

    Universal Basic Income

    Professor Ioana MarinescuSeptember 14, 2018
    The idea of a universal basic income (UBI) has generated a lot of conversation this year. The conversation in the U.S. often has focused on whether a UBI program here would be politically palatable and feasible. Its economic implications, however, are not always well understood. This seminar by Professor Ioana Marinescu presented new research on UBI-style programs, such as the Alaska Permanent Fund, to discuss their effects, especially with regard to labor markets.Ioana Marinescu|labor|right
    View summary » Concern over massive structural unemployment, due to technological automation and globalization, is on the rise. Universal Basic Income (UBI) has attracted attention from both sides of the aisle as one potential solution to a scenario where a large number of people are not able to earn a livable wage. In order to understand the economic implications of UBI, economists have studied previous and current examples of UBI-type programs, analyzing their impact on consumption, labor force participation, education, health, and other key metrics.
  • Assistant Professor of Legal Studies & Business Ethics

    Policy Disruption: Regulatory Responses to Business and Technological Innovation

    Professor Sarah LightJune 15, 2018
    New forms of business in the sharing economy, and new technologies like autonomous vehicles, have the potential to “disrupt” existing regulatory structures. This seminar examined the challenges facing regulators and legislators, who must respond so as to both (a) promote innovation and (b) protect the public interest.innovation|left|regulation|Sarah Light
  • Joao Gomes, Howard Butcher III Professor of Finance

    The Decline in U.S. Corporate Investment

    Professor Joao GomesJune 1, 2018
    10 years after the financial crisis US corporate investment remains anemic. Is this weak recovery a symptom of a larger trend towards a less capital intensive economy? The answer can shed light on the impact of the Tax Cut and Jobs Act of 2017 as well as any future infrastructure spending.infrastructure|Joao F. Gomes|left|tax
    View summary » U.S. corporations over the past decade have shied away from making large-scale capital investments. Given their reticence, does it make economic sense for the government to pursue major investments in infrastructure at this time?