• <div class="header-image" style="background-image: url(/live/image/gid/4/2801_V6N8_Header.rev.1537380633.jpg);">​</div><div class="header-background-color"/>

News Archive

  • legal studies and business ethics professor at the Wharton School of the University of Pennsylvania
    In a conversation regarding the legal authority of the Federal Reserve Bank of New York and its capacity to limit companies from opening master accounts, Wharton Professor Peter Conti-Brown argues that he unconvinced that the Fed holds this legal right. 
  • U.S. President Donald Trump said on Saturday that separating migrant families at the border could deter illegal immigratio...
    President Trump argues that family separation is an effective illegal immigration deterrent; A group of vulnerable house GOP members present a bill that protects patients against discrimination; Retail sales rise, but only marginally. 
  • (Source: Wiki Commons)
    On July 5th, the United States placed tariffs against $34 billion worth of Chinese goods. To many pundits, this was yet another sign of the worsening trade war between the United States and China. However, the latest strife is only part of a larger web of trade disputes involving the United States and the rest of the world. Since imposing a wide reaching 25% tariff on steel and 10% tariff on aluminum, the US has been engaged in a multi-front trade war with adversaries and allies alike. Although similar to previous trade disputes, these latest tariffs are both economically and legally unique, thereby meriting additional analysis. This article explains how the latest trade restrictions threaten not only years of US trade policy but also the country’s international economic and diplomatic standing.
  • U.S. stocks extended losses to finish lower Thursday, with the Dow Jones Industrial Average losing nearly 1,400 points ove...
    Experts notice a trend of deregulation under Trump Administration; Trump bans drug pricing activities that hurt consumers; Jobless claims increase; US Consumer Price Index rises slightly; Wall Street’s key indexes continued to take a hit on Thursday in light of selloffs. 
  • Image: Healthcare, Source: Pixnio
    From 1996 to 2013, United States health care spending increased by $933.5 billion, driven largely by increases in the intensity and price of care.[1] In 2016 alone, the United States spent $3.3 trillion or 17.9% of our GDP on health care.[2] In response, the Affordable Care Act (ACA) aimed to curb the rise in health care spending by instituting cost control policies. These measures were designed to eliminate waste, improve efficiency, and rein in overutilization. A central part of this reform was the development of Accountable Care Organizations (ACOs), which hold groups of providers collectively responsible for the overall cost and quality of care for a defined patient population.
  • The Senate on Wednesday defeated a Democratic measure to overrule President Trump’s expansion of non-ObamaCare ...
    Democratic efforts to halt the expansion of short term health plans curtailed; Central Bank rate increases criticized by Trump; Producer prices increased in September. 
  • The Environmental Protection Agency has put on hold plans to update its system for rating the energy efficiency of office ...
    EPA halt transition to new Energy Star metrics due to concerns from landlords; Trump salvages a win for farmers as 15% ethanol gasoline is now to be available year round; Trump dissents despite unprecedented climate change predictions from UN; Small business optimism drops. 
  • The world stands on the brink of failure when it comes to holding global warming to moderate levels, and nations will need...
    Paper reports reveal that FEMA has spent billions on disaster relief services; UN Climate Panel publishes alarming report on the status of global climate change. 
  • [Image: White picket fence. Source: Wikimedia Commons.]

    Michelle Obama has called education the “single-most important civil rights issue” of today.[1] President George Bush has referred to education as “the great civil rights issue of our time.”[2] Similarly, President Trump has vocalized support for education spending, despite his administration’s efforts to pass major budget cuts for existing programs and funnel more public funds into controversial school choice programs.[3][4] Regardless, all of these statements point to a recognition that education is the proverbial ladder to a better life—to the procurement of the American Dream.  In an age in which many are questioning what it means to be an American and to pursue the Dream, economic mobility remains central to this famed ideal. But what is a better life?  And, who can realistically dream of attaining it?

  • Image: Coal power plant, Source: Wikimedia Commons
    The make-up of the United States electricity generation portfolio has transformed over the past decade. In 2008, coal provided 48% of the nation’s electricity supply, but this figure dropped to 30.1% in 2017.[1][2] Natural gas extraction has become increasingly economical through hydraulic fracturing, thereby shifting the domestic demand for cheap energy away from coal. With less domestic demand from coal-fired power plants, coal mining operations have had to search for new markets to export their product.
  • The Trump administration is moving ahead with plans to revise safety rules that bar fully self-driving cars from the roads...
    US considers deregulating autonomous vehicle performance standards; Interior Department stiffens standards on the application of research; Unemployment hits record lows; Due to surges in the economy, trade deficit rises. 
  • The Senate passed the final version of a sweeping opioids package Wednesday afternoon and will send it to the White House ...
    Bipartisan bill addressing critical aspects of the opioid crisis passed by Senate; Senate passes new bill to better compete with China’s growing foreign influence and investments; Civilian cybersecurity responsibilities now centralized at Department of Homeland Security; Jobless claims drop to record low; Chairman of the Federal Reserves claims that the American economy may be entering a period of economic stability for the foreseeable future.
  • Professor of Management, Professor John Paul MacDuffie
    In this New York Times Article, Wharton Professor John Paul MacDuffie argues that no other auto manufacturer “…has achieved the impact on the public’s imagination, brand loyalty or sales success of Tesla.” MacDuffie suggests that although Tesla has had issues in relation to production of electric cars, it has not persuaded people to surrender their loyalty to the organization. Furthermore, MacDuffie indicates that the strong customer base for Tesla is attributed to its “…value chain from product conception through delivery to customers is carried out by the company itself…”In addition to their brand loyalty and in-house management structure, MacDuffie implies that one of Tesla’s unique propositions is its “…ability to update vehicle functionality via over- the- air software updates;…” Their public reputation, in house-management structure, and ability to adapt are what MacDuffie believes will make Tesla a big player in the electric car business.
  • Bendheim Professor, Professor of Health Care Management, Professor of Business Economics and Public Policy, Professor Mark...
    Wharton Professor Mark V. Pauly and University of Illinois at Chicago School of Public Health Professor Anthony LoSasso discuss in a joint-session the reclassification risk in small -group health insurance markets. LoSasso’s research indicates that the market protects against reclassification risk via guaranteed renewal. Pauly discusses the policy implications of LoSasso’s findings. Professor Pauly proposes various ideas to combat the issue of reclassification risk. One of his ideas is proposing an individual mandate that contains guaranteed renewal-like features for covered persons.
  • U.S. companies are putting savings from the corporate tax cut to use, but only a fraction of it is flowing to employees
    Study suggests that firms are more likely to spend tax law gains in training rather than salary increases; Survey finds that US military relies on foreign procurement of critical supplies; US payroll increases more than anticipated; US crude prices surge due to Iranian tariffs.  
  • Image: Pharmaceutical Drug, Source: Pixabay
    With accelerated innovation in the biopharmaceutical industry, drug prices have soared faster than anticipated and drawn national attention to individual cases of fraud. Affordability has dropped in the wake of declining accountability and transparency. Since taking office, President Trump has said one of his biggest priorities is to reduce the price of prescription drugs and claims that the reform of the 340B Drug Discount program will be one of the ways to do so.[1] However, the program and its effect on drug prices is currently one of the most controversial issues in health care.
  • President TrumpDONALD JOHN TRUMPFlake: I sometimes feel like I'm 'without a party'Graham attacks NBC as
    In an effort to promote the innovation of communications technology in the US, the FCC plans to minimize airwave traffic; The new MCA agreement shows the success of Trump’s cut throat negotiation tactics; US crude prices continue to rise in light of trade disputes and market uncertainties. 
  • Image: Smart Home, Source: Pixabay
    In the 18th Century, only about 14% percent of the world’s population lived in urban areas. Today, however, more than half the planet’s population resides in cities. With the continuing economic migration from semi urban and rural areas, cities are bursting at the seams with the growing demand for services and basic civic amenities. New technologies like AI, IoT, Cloud, Robotics, and Big Data Analytics may be a solution for cities by offering offering them an opportunity to become ‘smarter’, more cost effective and efficient.
  • The U.S. and Canada reached a dramatic, last-minute deal late Sunday night on revising the North American Free Trade Agree...
    The U.S. and Canada reach a last-minute resolution to a revised North American Free Trade Agreement; US Attorney General sues the state of California over net neutrality legislation; Manufacturing and construction levels decline in the month of August. 
  • Image: Nuclear Energy, Source: Pixbay
    Modern economies, and their dependent societies, have become incredibly dependent on the production of large-scale and reliable power. Large-scale and reliable power sources contribute to a resilient grid, which is necessary to stave off both natural and human-caused incidents that could restrict availability of electricity to a nation and threaten national security.[1] Due to the demand placed on energy grids, power sources must be economically viable, safe, and approved by the public. Because of the threat posed by global warming, however, power sources must also be clean. To date, no power source meets all these criteria. Coal is economically viable and can produce large-scale, reliable power but is neither clean nor safe  and is not favored by the public.[2][3][4] Natural gas is economically viable and can produce large-scale power, but it is not reliable, favored by the public, nor clean, and is only safe relative to coal.[5][6][7][8]
  • Consumer sentiment was just under expectations in the final reading of September but the index remained near all-time high...
    EPA eliminates department designed to conduct climate change research and advisory work; Tax bill passed by House that make individual cuts permanent; Consumer spending rises; Consumer confidence index sky rockets to triple digit readings. 
  • Evan C Thompson Endowed Term Chair for Excellence in Teaching, Professor of Operations, Information and Decisions, Profess...
    Professor Katherine L. Milkman offers her perspective of incentivizing people to lower their life insurance premiums through data sharing. She asserts: “For an insurer, you’re going to get healthier people — that’s why they’re going to give you all their data,…The unhealthy ones are going to go to other insurers:…” Milkman suggests that data sharing provides insurance companies with security when deciding to insure a specific individual or group. Also, she contends that the use of data may be a solution to help motivate others to become healthier individuals. Furthermore, she implies that the use of data will play a more prominent role in the life insurance industry.
  • Jacob Safra Professor of International Banking, Professor of Finance, Professor Richard J. Herring
    Is the global financial system more secure since the crash of 2008? Professor Richard J. Herring indicates that because of new regulations, banks are less prone to experience another collapse. He argues “Most of the reforms have aimed at reducing the vulnerability of banks…. Equally important, however, are the reforms aimed at enabling the authorities to deal with a bank insolvency without imperiling the financial system.” Herring also compares the effects of the global financial crash in other markets, such as the European Union. He contends “…the fundamental problem [the Europeans] faced is that they lacked the important back-up of a facility comparable to TARP. They lacked financial resources to recapitalize banks that were inadequately capitalized…”
  • President Trump said he rejected a meeting with Prime Minister Justin Trudeau of Canada during the United Nations General ...
    Lawmakers face a difficult task deciding how to regulate data monetization practices; In the latest development in crumbling NAFTA agreement, President Trump refused to meet with Prime Minister Justin Trudeau; GDP rises to the highest level in nearly four years; Jobless claims increase, but economists say the labor market remains tight and robust. 
  • Associate Professor of Management, Professor Ethan Mollick
    Ethan Mollick, who is an Associate Professor at the Wharton School of the University of Pennsylvania, informs the reader about the uses of crowdfunding. He states crowdfunding is  “a variety of different efforts by entrepreneurs—cultural, social, and for-profit—to fund their efforts by drawing on relatively small contributions from a relatively large number of individuals using the internet.” In this quote, Mollick contends that crowdfunding is one of the many revolutionary manners on how startups can be funded. Additionally, he suggests that its diverse use provides people a means to connect with their respective investors on a more personal level.
  • S. Samuel Arsht Professor of Corporate Law, Professor David Arthur Skeel
    In challenging the notion of Lehman Brothers causing the 2008 financial crisis, Professor David Arthur Skeel contends that they were not the main culprits. Professor Skeel puts forth a step-by-step analysis of why Lehman’s demise was not the sole event that caused this major financial event in American history. He argues “Almost exactly six months before Lehman, another major investment bank, Bear Stearns, collapsed in similar fashion.  Regulators’ handling of Bear Stearns’ distress set the stage for everything that followed.” In this quote, Skeel indicates that we must look pre-Lehman for the troubling signs of the impending financial collapse.
  • Image: Image of realtor holding house, Source: Thinkpanama
    Since the Great Recession in 2008, the federal government has taken conservatorship of two major home mortgage providers, Freddie Mac and Fannie Mae. In order to reestablish market stability, these two firms were converted from wholly private entities into government-sponsored enterprises (GSEs) under the conservatorship of the Federal Housing Administration (FHA). In return for being under public stewardship, the GSEs are required to make annual contributions to the Housing Trust Fund and Capital Magnet Fund to support FHA activities and offset costs for things like affordable housing mandates.[1]
  • Pharmacist Offering Opioid Prescription
    Regulators seek to reform law that would impact how banks bring capital to low income communities; Congress approves bill that address opioid epidemic; After two months of decline, US family home sales rise; The Federal Reserve increase interest rates.
  • Penn Wharton PPI Faculty Affiliate, Professor Peter Cappelli
    In light of threats by Whole Food employees to unionize against Amazon, Peter Cappelli points out that “employers are very effective at keeping them out. One way they do that is that they don’t have a lot of full-time employees. It’s difficult to get part-time employees to organize. They have a high turnover, so people don’t stay long enough to invest in starting a union.”
  • Penn Wharton PPI Faculty Affiliate, Professor Olivia S. Mitchell
    In a discussion on the status of US pension programs and the problems affecting its viability, Professor Olivia Mitchell claims “Globally, pension funds have been investing less and less in equities and bonds and investing more in so-called other alternatives: private equity, infrastructure, emerging markets… That’s really a search for higher returns, and that also comes with higher risk.”

 

PENN WHARTON PPI
RESOURCE SPOTLIGHT:

  • <h3>MapStats</h3><p> A feature of FedStats, MapStats allows users to search for <strong>state, county, city, congressional district, or Federal judicial district data</strong> (demographic, economic, and geographic).</p><p> Quick link: <a href="http://www.fedstats.gov/mapstats/" target="_blank">http://www.fedstats.gov/mapstats/</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>Internal Revenue Service: Tax Statistics</h3><p><img width="155" height="200" alt="" src="/live/image/gid/4/width/155/height/200/486_irs_logo.rev.1407789424.jpg" class="lw_image lw_image486 lw_align_left" srcset="/live/image/scale/2x/gid/4/width/155/height/200/486_irs_logo.rev.1407789424.jpg 2x" data-max-w="463" data-max-h="596"/>Find statistics on business tax, individual tax, charitable and exempt organizations, IRS operations and budget, and income (SOI), as well as statistics by form, products, publications, papers, and other IRS data.</p><p> Quick link to <strong>Tax Statistics, where you will find a wide range of tables, articles, and data</strong> that describe and measure elements of the U.S. tax system: <a href="http://www.irs.gov/uac/Tax-Stats-2" target="_blank">http://www.irs.gov/uac/Tax-Stats-2</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>Federal Aviation Administration: Accident & Incident Data</h3><p><img width="100" height="100" alt="" src="/live/image/gid/4/width/100/height/100/80_faa-logo.rev.1402681347.jpg" class="lw_image lw_image80 lw_align_left" srcset="/live/image/scale/2x/gid/4/width/100/height/100/80_faa-logo.rev.1402681347.jpg 2x, /live/image/scale/3x/gid/4/width/100/height/100/80_faa-logo.rev.1402681347.jpg 3x" data-max-w="550" data-max-h="550"/>The NTSB issues an accident report following each investigation. These reports are available online for reports issued since 1996, with older reports coming online soon. The reports listing is sortable by the event date, report date, city, and state.</p><p> Quick link: <a href="http://www.faa.gov/data_research/accident_incident/" target="_blank">http://www.faa.gov/data_research/accident_incident/</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>National Center for Education Statistics</h3><p><strong><img width="400" height="80" alt="" src="/live/image/gid/4/width/400/height/80/479_nces.rev.1407787656.jpg" class="lw_image lw_image479 lw_align_right" data-max-w="400" data-max-h="80"/>The National Center for Education Statistics (NCES) is the primary federal entity for collecting and analyzing data related to education in the U.S. and other nations.</strong> NCES is located within the U.S. Department of Education and the Institute of Education Sciences. NCES has an extensive Statistical Standards Program that consults and advises on methodological and statistical aspects involved in the design, collection, and analysis of data collections in the Center. To learn more about the NCES, <a href="http://nces.ed.gov/about/" target="_blank">click here</a>.</p><p> Quick link to NCES Data Tools: <a href="http://nces.ed.gov/datatools/index.asp?DataToolSectionID=4" target="_blank">http://nces.ed.gov/datatools/index.asp?DataToolSectionID=4</a></p><p> Quick link to Quick Tables and Figures: <a href="http://nces.ed.gov/quicktables/" target="_blank">http://nces.ed.gov/quicktables/</a></p><p> Quick link to NCES Fast Facts (Note: The primary purpose of the Fast Facts website is to provide users with concise information on a range of educational issues, from early childhood to adult learning.): <a href="http://nces.ed.gov/fastfacts/" target="_blank">http://nces.ed.gov/fastfacts/#</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>Federal Reserve Economic Data (FRED®)</h3><p><strong><img width="180" height="79" alt="" src="/live/image/gid/4/width/180/height/79/481_fred-logo.rev.1407788243.jpg" class="lw_image lw_image481 lw_align_right" data-max-w="222" data-max-h="97"/>An online database consisting of more than 72,000 economic data time series from 54 national, international, public, and private sources.</strong> FRED®, created and maintained by Research Department at the Federal Reserve Bank of St. Louis, goes far beyond simply providing data: It combines data with a powerful mix of tools that help the user understand, interact with, display, and disseminate the data.</p><p> Quick link to data page: <a href="http://research.stlouisfed.org/fred2/tags/series" target="_blank">http://research.stlouisfed.org/fred2/tags/series</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>Congressional Budget Office</h3><p><img width="180" height="180" alt="" src="/live/image/gid/4/width/180/height/180/380_cbo-logo.rev.1406822035.jpg" class="lw_image lw_image380 lw_align_right" data-max-w="180" data-max-h="180"/>Since its founding in 1974, the Congressional Budget Office (CBO) has produced independent analyses of budgetary and economic issues to support the Congressional budget process.</p><p> The agency is strictly nonpartisan and conducts objective, impartial analysis, which is evident in each of the dozens of reports and hundreds of cost estimates that its economists and policy analysts produce each year. CBO does not make policy recommendations, and each report and cost estimate discloses the agency’s assumptions and methodologies. <strong>CBO provides budgetary and economic information in a variety of ways and at various points in the legislative process.</strong> Products include baseline budget projections and economic forecasts, analysis of the President’s budget, cost estimates, analysis of federal mandates, working papers, and more.</p><p> Quick link to Products page: <a href="http://www.cbo.gov/about/our-products" target="_blank">http://www.cbo.gov/about/our-products</a></p><p> Quick link to Topics: <a href="http://www.cbo.gov/topics" target="_blank">http://www.cbo.gov/topics</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>The World Bank Data (U.S.)</h3><p><img width="130" height="118" alt="" src="/live/image/gid/4/width/130/height/118/484_world-bank-logo.rev.1407788945.jpg" class="lw_image lw_image484 lw_align_left" srcset="/live/image/scale/2x/gid/4/width/130/height/118/484_world-bank-logo.rev.1407788945.jpg 2x, /live/image/scale/3x/gid/4/width/130/height/118/484_world-bank-logo.rev.1407788945.jpg 3x" data-max-w="1406" data-max-h="1275"/>The <strong>World Bank</strong> provides World Development Indicators, Surveys, and data on Finances and Climate Change.</p><p> Quick link: <a href="http://data.worldbank.org/country/united-states" target="_blank">http://data.worldbank.org/country/united-states</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>USDA Nutrition Assistance Data</h3><p><img width="180" height="124" alt="" src="/live/image/gid/4/width/180/height/124/485_usda_logo.rev.1407789238.jpg" class="lw_image lw_image485 lw_align_right" srcset="/live/image/scale/2x/gid/4/width/180/height/124/485_usda_logo.rev.1407789238.jpg 2x, /live/image/scale/3x/gid/4/width/180/height/124/485_usda_logo.rev.1407789238.jpg 3x" data-max-w="1233" data-max-h="850"/>Data and research regarding the following <strong>USDA Nutrition Assistance</strong> programs are available through this site:</p><ul><li>Supplemental Nutrition Assistance Program (SNAP) </li><li>Food Distribution Programs </li><li>School Meals </li><li>Women, Infants and Children </li></ul><p> Quick link: <a href="http://www.fns.usda.gov/data-and-statistics" target="_blank">http://www.fns.usda.gov/data-and-statistics</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>NOAA National Climatic Data Center</h3><p><img width="200" height="198" alt="" src="/live/image/gid/4/width/200/height/198/483_noaa_logo.rev.1407788692.jpg" class="lw_image lw_image483 lw_align_left" srcset="/live/image/scale/2x/gid/4/width/200/height/198/483_noaa_logo.rev.1407788692.jpg 2x, /live/image/scale/3x/gid/4/width/200/height/198/483_noaa_logo.rev.1407788692.jpg 3x" data-max-w="954" data-max-h="945"/>NOAA’s National Climatic Data Center (NCDC) is responsible for preserving, monitoring, assessing, and providing public access to the Nation’s treasure of <strong>climate and historical weather data and information</strong>.</p><p> Quick link to home page: <a href="http://www.ncdc.noaa.gov/" target="_blank">http://www.ncdc.noaa.gov/</a></p><p> Quick link to NCDC’s climate and weather datasets, products, and various web pages and resources: <a href="http://www.ncdc.noaa.gov/data-access/quick-links" target="_blank">http://www.ncdc.noaa.gov/data-access/quick-links</a></p><p> Quick link to Text & Map Search: <a href="http://www.ncdc.noaa.gov/cdo-web/" target="_blank">http://www.ncdc.noaa.gov/cdo-web/</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>National Bureau of Economic Research (Public Use Data Archive)</h3><p><img width="180" height="43" alt="" src="/live/image/gid/4/width/180/height/43/478_nber.rev.1407530465.jpg" class="lw_image lw_image478 lw_align_right" data-max-w="329" data-max-h="79"/>Founded in 1920, the <strong>National Bureau of Economic Research</strong> is a private, nonprofit, nonpartisan research organization dedicated to promoting a greater understanding of how the economy works. The NBER is committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community.</p><p> Quick Link to <strong>Public Use Data Archive</strong>: <a href="http://www.nber.org/data/" target="_blank">http://www.nber.org/data/</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>HUD State of the Cities Data Systems</h3><p><strong><img width="200" height="200" alt="" src="/live/image/gid/4/width/200/height/200/482_hud_logo.rev.1407788472.jpg" class="lw_image lw_image482 lw_align_left" srcset="/live/image/scale/2x/gid/4/width/200/height/200/482_hud_logo.rev.1407788472.jpg 2x, /live/image/scale/3x/gid/4/width/200/height/200/482_hud_logo.rev.1407788472.jpg 3x" data-max-w="612" data-max-h="613"/>The SOCDS provides data for individual Metropolitan Areas, Central Cities, and Suburbs.</strong> It is a portal for non-national data made available through a number of outside institutions (e.g. Census, BLS, FBI and others).</p><p> Quick link: <a href="http://www.huduser.org/portal/datasets/socds.html" target="_blank">http://www.huduser.org/portal/datasets/socds.html</a></p><p>See all <a href="/data-resources/">data and resources</a> »</p>
  • <h3>The Penn World Table</h3><p> The Penn World Table provides purchasing power parity and national income accounts converted to international prices for 189 countries/territories for some or all of the years 1950-2010.</p><p><a href="https://pwt.sas.upenn.edu/php_site/pwt71/pwt71_form.php" target="_blank">Quick link.</a> </p><p>See all <a href="/data-resources/">data and resources</a> »</p>