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News Archive

  • China is preparing to replace an industrial policy savaged by the Trump administration as protectionist with a new program...
    In an effort to address ensuing trade tensions between the US and China, Beijing is looking to increase foreign company access; As a result of the public frustration concerning data breaches, Congress looks to establish a new privacy bill; A farm bill approved by the House now makes it way to Trump; Jobless claims return to their downward trend. 
  • Beijing sought to ease tensions with Washington as its top trade negotiator told U.S. officials that China was planning to...
    The House passes a bill to crack down on drug companies that deliberate exploit the Medicaid program; Trump is poised to sign an executive order that would shift federal funding to oppertunity zones; In an effort to ease tensions, China has pledged to reduce tariffs on US cars and buy more American commodities; Consumer prices remain stable for another month.
  • Congress is on track to pass a five-year farm bill this week that leaves out controversial proposed work requirements for ...
    Congress is anticipated to pass a new farm bill that excludes controversial work-requirements for food stamp recipients; The Trump administration is poised to release a new water protections plan that reduces existing regulations; House GOP released revisions to the end-year tax bill that risk backlash from House democrats; Producer Price Index rises but inflation appears to be slowing. 
  • Ioana Marinescu  Economist, Professor 
    In a discussion on the $15 minimum wage as a piece of labor practice policy, Professor Marinescu emphasizes the importance of evaluating the market and the implications of a such a policy in light of contingencies such as monopsony power. As an example, she cites her research showing how concentration of jobs and monopsony power in employers can contribute to macro trends such as wage stagnation. 
  • The Trump administration’s point man on U.S.-China trade negotiations said the U.S. would hold fast to its 90-day de...
    Top Negotiator, Lighthizer announces that America will enforce contested 90-day agreement deadline for US and China trade negotiations; HIV cure studies using fetal tissue impeded by Trump Administration; The parliamentary vote for Brexit postponed by UK Prime Minister May; Compared to last year productivity up by more than 1%; One US inflation index fell slightly in the month of November.
  • Image: Venezuelan Flag, Source: Flickr
    On April 9, 2018, President Nicolas Maduro declared the Petrocoin as the official tender of Venezuela. Government owned companies were given 120 days to comply with the order, and citizens will be able to pay for taxes, fees, and public services using the new cryptocurrency. In addition, the President declared that special economic zones will be created in which people will be able to use the coin for everyday purposes.[1]
  • The Trump administration’s efforts to extradite the chief financial officer of China’s Huawei Technologies Co. ove...
    The Trump administration brings criminal suits against Huawei’s CFO, potentially further rocking US-Chinese relations; The Bureau of Land Management is expected to rollback on animal protections in order to boost oil and gas production; Despite an increase in oil and gas exports, the trade deficit increases; US job growth underperform compared to expert predictions; Consumer sentiment remains steady, thereby outperforming analyst estimates. 
  • The Trump administration is expected on Thursday to roll back an Obama-era rule requiring new coal plants to slash carbon ...
    EPA to introduce a roll back on coal emissions standards; Lawmakers remain polarized as disputes over funding of Trump’s border wall ensue; Representatives introduce a bipartisan bill to help promote cybersecurity education; Private sector jobs remain strong in the month of November with more than 100,000 new jobs added; Jobless claims fall but remain near a five month high. 
  • A bill introduced by Sens. Chuck Grassley (R-Iowa) and Ron Wyden (D-Ore.) will seek to crack down...
    Senators introduce a bipartisan drug pricing bill; In an effort to facilitate the construction of new coal plants, EPA plans to roll back environmental legislation; Postal service issues a statement saying that it is considering to raise prices to companies such as Amazon. 
  • President Trump named a China hard-liner to lead negotiations with Beijing, indicating the U.S. will pursue a tough stance...
    Trump administration intends to absolve subsidies for electric cars and renewable energy resources; Lawmakers agree on a tentative spending bill that stalls big debates regarding immigration and the border wall; Following the trade truce reached in Buenos Aries, Trump announce a China hard-liner as the new head negotiator; US auto sales outperform expert expectations. 
  • Image: Judge, gavel, and courtroom. Source: Luke Air Force Base
    Over the past year, the #MeToo movement has sparked an international conversation about the prevalence of sexual assault. It has become clear that sexual violence is an epidemic that no woman is immune to - from Hollywood celebrities and domestic workers to Olympic gymnasts and farmworkers.[1] With the spotlight finally on this pervasive issue, it is important to examine the role of public policy in addressing sexual assault claims and providing reparations to victims.
  • Image: Donald Trump and The Celebrity Apprentice, Source: CNN

    This article explains some of the challenges facing manufacturing companies and attempts to show how an increase in apprenticeships may be a viable solution.

  • President Trump announced on Sunday that China had agreed to "reduce and remove" tariffs on U.S.-produced
    Nations make a breakthrough as Trump announces that China has agreed to reduce and remove tariffs on US automobiles; To avoid government shut down, lawmakers negotiate spending bill; Factory activity increases in November; Compared to last months readings, construction spending down. 
  • Image: Investment, Source: Pxhere
    An appreciation for the role of private capital in economic development is not new: the UK’s CDC Group and the International Finance Corporation (IFC) were founded over 50 years ago to channel private sector capital from developed to developing countries. While much emphasis is placed on the role of governments to grow incomes in these countries, the private sector is often the primary growth engine in emerging markets—generating 9 out of 10 jobs.[1] Moreover, official development assistance (ODA) budgets have stagnated. Foreign direct investments (FDI) have now overtaken the volume of ODA by a factor of 5 to 1.[2] And in 2012, for the first time, developing economies absorbed more FDI than their developed counterparts.[3] As a result, during the last 15 years, the role of ODA as the major source of development financing has shifted. ODA has been redefined as a “catalyst” to mobilize additional investments, especially private capital.
  • Wharton Professor of Operations, Information, and Decisions
    Based on a thesis presented in a PPI article entitled Addressing Personal-Income-Tax Manipulation with Tools from Psychology, Professor Alex Ree-Jones discusses how governments should utilize the behavioral tendencies of tax payers to minimize losses and maximize rewards in order to create the most generative tax revenue systems. 
  • Image: Business deal, Source: Flickr
    Historically, private capital in emerging markets has remained scarce.[1] Whether as a result of political uncertainty, alternative opportunities in developed markets, or other matters of this sort, raising funds in such environments has proven difficult. In recent years, emerging markets have exhibited strong growth. From the latter half of Fiscal Year 2016 through Fiscal Year 2017, the world experienced a period of synchronous global economic expansion unparalleled in recent history (with equity markets leading the charge).[2] However, amidst increasing trade concerns, a rising U.S. interest rate environment, and significant currency devaluation in key developing economies (e.g. Thailand, Argentina, and Turkey), emerging markets may be posed to give up recent gains.[3]
  • Professor of Legal Studies and Business Ethics, Professor Kevin Werbach

    Wharton Professor Kevin Werbach argues that “smart contracts” are not the ultimate problem solvers to make businesses more adaptable to the digital age. He contends that society still needs humans and institutions to enforce current regulations. He further indicates that “smart contracts” also lead to other concerns, such as writing effective code and secure transactions.

  • The Federal Reserve is poised to raise interest rates at its next policymaking meeting in mid-December and to continue rai...
    New NAFTA replacement deal signed; Trump administration loosens coverage requirements by allowing states to apply for waivers to distribute subsidies for beneficiaries that don’t meet ACA requirements; Ways and Means Chairman proposes to eliminate fringe benefits for employees of churches and other nonprofits; Interest rates anticipated to be hiked in December. 
  • David Reibstein
    Wharton Professor David Reibstein provides his insight on the controversial Amazon government-issue $2 billion incentive package. Although the incentive package is large, Reibstein asserts that the benefits outweigh the costs. Furthermore, he implies that Amazon’s new locations in the New York City and D.C. areas will provide jobs and help steer the country’s economic growth.
  • Set your sights on interning in Washington, DC
    It is never too early to start thinking about what you want to do next summer. Some government agencies start their recruiting for summer interns in the fall, while most look for interns later in the winter or early spring. Here are some tips for how to find, apply, and fund a summer internship in DC.
  •  Some multinational companies may not see as much of a benefit from President Trump’s signature tax cuts as the...
    Negotiations on farming bill makes headway in House and Senate; Trump administration attacks Climate Change report as ‘radical’ and not ‘data-driven’; Multinational companies may not enjoy benefits initially anticipated after tax cuts based on new proposed regulations; Jobless claims increase suggesting slowing in labor market; The number of pending housing sales continues to decline.  
  • Bendheim Professor, Professor of Health Care Management, Professor of Business Economics and Public Policy, Professor

    Wharton and Penn Medicine Professor Mark Pauly offers his insight on the correlation of those who pay a higher deductible and delay medical care. He indicates that the amount of coverage is also a deciding factor in regards to seeing a doctor.

  • Ben Ritz, Director of the Center for Funding America's Future at the Progressive Policy Institute; Representative Madelein...
    Current federal fiscal policies are cutting public investment in key areas such as education, infrastructure, and scientific research, all the while driving up the level of public debt. This panel event explores the long-term economic implications and propose actions our elected leaders must take to avoid fiscal ruin.
  • Image: Doctor explaining model on computer, Source: Pxhere
    The rapidly growing cost of health care is one of the largest problems in the U.S. today. Since the 1980s, the cost of care has grown at a significantly faster rate relative to the GDP, which has imposed a heavy burden on payers and made access to care more difficult.[1] Although the U.S. spends more dollars per capita on health care than any other OECD country, it is estimated that $.30 to $.40 of every dollar spent on health care is spent on costs associated with misuse, system failures, and inefficiency.[2] In addition to the economic cost, systemic problems in our health care result in the death of more than 250,000 Americans every year.[3] It is clear that our health care system is in deep need of repair. However, if implemented successfully, systems engineering is a tool that may be able to help reduce the cost and increase the efficiency of our broken health care system.
  • A bipartisan group of lawmakers is introducing a landmark bill that would charge fossil fuel companies a tax for their car...
    Bipartisan carbon tax bill introduced that would charge $15 per ton for carbon emissions; Undocumented immigration reaches a low in 2016; GDP grows by 3.5%
  • Image: Alaska Oil Pipeline, Source: Wikimedia Commons
    Located on the northeastern corner of Alaska, extending from the state’s northern coast to just south of the Brooks Range mountains, sits 19.3 million acres of what may be one of the most disputed lands in the United States. The Arctic National Wildlife Refuge (ANWR) is currently home to unique wilderness, wildlife, and a predicted 11.80 billion barrels of untouched oil.[1]
  • President Trump, days before a summit with China’s leader, said he expects to move ahead with boosting
    Trump indicates that another round of tariffs on Chinese imports may be on their way; House Republicans present a new tax package for approval; Trump reveals a new proposal to reduce Medicare drug prices by relaxing regulations on mandatory drug for insurance providers; Despite an underperformance by the consumer confidence index, metrics reveal an overall optimism; Though home prices rise, they do so at the slowest rate in months. 
  • Professor of Legal Studies & Business Ethics, Professor of Law, James G. Dinan University Professor, Professor Herbert...

    Wharton and Penn Law Professor Herbert Hovenkamp offers his insight into the pending lawsuit of whether the Apple App Store is considered a monopoly. He implies that “…the app developers-are innocent, potentially even victims of the alleged monopoly.” However, he also suggests that the App Store’s parent company Apple Inc is also in a difficult position in the era of electronic consumption of services.

  • U.S. Supreme Court justices on Monday appeared open to letting a lawsuit proceed against Apple Inc that accused it of brea...
    A report by the US Government reveals the accelerating cost of climate change efforts in the coming century; Congress is again at risk of another partial shutdown due to border wall dispute; The Supreme Court agrees to hear a case regarding an anti-trust suit brought against Apple; The Chicago Economic Index indicates a rise a in the stock market. 
  • State Foreclosure Law
    Proponents of robust mortgage finance regulation would do well to look to the states, and specifically to the regulatory effects of state-mandated judicial foreclosure. Judicial foreclosure, which is authorized in almost half of U.S. states, requires that lenders seeking to foreclose on a mortgage file an action in state court. This not only provides borrowers with a forum for holding lenders accountable for their behavior and obligations, but puts the onus on the lender to show that the requirements for foreclosure have been met. It also aids borrowers by delaying the foreclosure process and allowing them to remain in their homes for longer periods while in default. In this brief, Professor Brian Feinstein empirically examines the effects of judicial foreclosure on lender behavior and mortgage costs for consumers. The findings indicate that judicial foreclosure alters lender behavior in ways that are beneficial to borrowers, and that mirror regulatory goals. Lenders exhibit greater caution in loan-approval decisions and offer fewer subprime loans. These results are amplified for lower-income borrowers. Importantly, the costs imposed on lenders by judicial foreclosure do not appear to get passed on to borrowers in the form of higher rates.

 

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>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>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 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>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>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>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>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 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>
  • <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>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>