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News Archive

  • hairman of the FCC Ajit Pai will reveal plans to deregulate the disparate treatment of internet traffic, so called
    Homeland Security ends temporary residency for 60,000 Haitians; US home sales speed up.
  • A pipeline installation between farms, as seen from 50th Avenue in New Salem, North Dakota.
    Congress faces growing health crisis in Puerto Rico; Leading Economic Indicators increased by 1.2 percent in October.
  • Ethan Mollick is the Edward B. and Shirley R. Shils Assistant Professor of Management at the Wharton School of the Univers...
    Crowdfunding has expanded to being a great place to invest money or help new products come to market by pre-purchasing. The Crowdfunding market saw over 87 Billion dollars exchanged in the market in 2016. This market has attracted scammers whose only purpose is to rip off with good hearts.

    Faculty Affiliate Ethan Mollick in 2015 found that 9% of projects on Kickstarter fail to deliver as promised to their backers, and this number does include fraudulent projects. Based on this, consumers should closely watch for scams. 
  • Penn Wharton PPI Faculty Affiliate, Professor Kevin Volpp
    The first drug with a sensor embedded in a pill that alerts doctors when patients have taken their medications was approved by the Food and Drug Administration, raiding issues involving privacy, cost, and whether patients really want caregivers looking over their shoulders.

    Faculty Affiliate Kevin Volpp says that the technology could make a big impact on non-adherence, since 40 - 45 percent of people with common cardiovascular and other chronic diseases such as diabetes do not take their medications as prescribed.


    “That’s a big deal because medication non-adherence is a huge public-health challenge in the United States,” he said.

  • Image: Cannabis Cash, Source: North Bay Business Journal

    Over the span of recent decades, the federal legalization of marijuana has been a popular topic of discussion within the political arena. One aspect less frequently introduced is the financial impact legalization has within the banking sector. At the moment, most cannabis companies are unable to take out federal loans or establish any form of credit, since marijuana is federally illegal and therefore federally regulated banks are unable to work directly with marijuana businesses. A few states have legalized the use and distribution, of cannabis, both recreationally and medicinally, but this legal standing is insufficient for distributors to access services provided by national banks. All of this has led to volatility within the marijuana business structure and a business model built in violation of banking standards.

  • Image: The Shippingport Nuclear Power Plant in Shippingport, PA, the first commercial nuclear plant in the United States. ...
    In 1953, President Dwight D. Eisenhower delivered his landmark “Atoms for Peace” speech at the United Nations General Assembly. There, he charted the pivotal role nuclear energy would play in ensuring a bright future for mankind: “The United States knows that peaceful power from atomic energy is no dream of the future. The capability, already proved, is here today.” Four years later, the International Atomic Energy Agency was born, and by 1970, the United States could produce 100 gigawatts of nuclear energy. Hopes were so high that the Atomic Energy Commission projected the United States would construct over 1000 nuclear plants by 2000. [1]
  • Penn Wharton PPI Faculty Affiliate, Professor Daniel Polsky

    When the fees paid to healthcare providers by Medicaid go up, appointments with primary care doctors suddenly become more available to Medicaid beneficiaries – and the opposite happens when fees go down, according to a recent U.S. study.

    “As funding declines it threatens the breadth of provider participation in Medicaid,” said Faculty Affiliate Daniel Polsky.

    “I don’t want to overestimate its result on patient welfare, but I think it’s a good thing to have broad choices of doctors when you’re looking to make a new patient appointment,” he said.

  • Faculty Affiliate Michael Knoll.
    The recently unveiled Republican tax reform plan has been particularly unpopular with many in the real estate industry. The plan caps the mortgage interest deduction at $500,000 for new purchases and the property tax deduction at $10,000, but eliminates deductions for state and local tax payments. Faculty Affiliate Michael Knoll, co-director of the Center for Tax Law and Policy at the University of Pennsylvania Law School, discussed what the bill would mean for individual homeowners and for the housing market.
  • Penn Wharton PPI Faculty Affiliate, Professor Jennifer Blouin

    Faculty Affiliate Jennifer Blouin says it may be hard to tell. “The trouble is, we really don’t have a good way to measure what the effects on growth are, because once we have the rate cut, other things start happening over time,” she says.

    “We have natural disasters. We have failures in commodity markets. The whole credit crisis. And so once you mix that into the fold, how can you predict what the aggregate effect of just that piece of tax legislation is? And I would argue we really don’t know.”

  • Penn Wharton PPI Faculty Affiliate, Professor Michael Useem

    Tuesday was the “worst day of my business life,” former General Electric vice chairman Bob Wright told CNBC, after shares plunged for the second day in a row.

    Faculty Affiliate Michael Useem, a Wharton professor and director of the school’s Center for Leadership and Change Management, said new CEO John Flannery’s work is going to be extremely difficult.

    “A remake of this scale … it’s like turning a battleship. It’s going to take some serious time,” he said. “With a tough-minded executive in charge you can do it and the betting is probably going to be on Flannery doing it,” he added.

  • The House passed the most sweeping tax overhaul in three decades on Thursday, with 227 Republican votes in a bill that wou...
    Senate passes defense bill and sends to Trump’s desk for signature; U.S. Housing Starts Increase More Than Expected in October.
  • The sicker risk pools resulting from its repeal might increase premiums or give insurers the incentive to leave the insura...
    Senate passes battlefield medical approvals bill; Individual mandate repeal attached to tax bill, sparking fears of rising premiums; US to be a big driver of oil production growth over the next decade; Jobless claims tick up on Puerto Rico backlog, underlying data strong.
  • Germany explores energy efficiency.

    As Chancellor Merkel was continuing to forge a coalition government following the September elections, Germans overall remained strongly supportive of the goal of Energiewende, or energy transition. An August 2017 poll found “95 percent of Germans support further expanding renewable energy” [1]. Still, in Germany and abroad, Energiewende faces criticism for not delivering enough greenhouse gas emission reductions for the given level of investments [2].

  • Penn Wharton PPI Faculty Affiliate, Professor Arthur van Benthem
    Faculty Affiliate Arthur van Benthem says yes, states can mitigate damage done by the federal government.

    “Given the state of affairs in Washington, D.C., states should adopt their own policies to promote renewable energy and limit the emissions of greenhouse gases,” he says.
  •  The House of Representatives overwhelmingly passed a nonbinding resolution that the US’ involvement in the civ...
    House declares US Yemen involvement unauthorized; Produce prices up on services, inflation ticking up; Central Bankers to continue investor guidance. 
  • Trump on Monday said the final GOP tax bill should repeal the ObamaCare individual mandate for health insurance ...
    President Trump calls for repeal of ObamaCare’s individual mandate and cuts to top tax rate; Annual defense policy bill nearly complete; Analysis determines that Senate tax bill would make taxes jump for many earning under $200,000.
  • Senate Republicans released their own version of tax-reform legislation on Thursday, breaking with President Trump by offe...
    Senate GOP takes different approach to tax reform than House; Trump Administration taking steps to crack down on opioid trafficking; Consumer sentiment reaches 97.8 in November compared to 100.9 estimate.
  • Penn Wharton PPI Faculty Affiliate, Professor Lynn Wu
    Early and developing companies push digital transformation through managerial directive or by technology provision. In contrast, maturing companies tend to pull digital transformation by cultivating the conditions that are ripe for transformation to occur. 

    Research from Faculty Affiliate Lynn Wu further explores these differences and how they impact employee performance:
  • Faculty Affiliate Peter Conti-Brown.
     Trump announced Thursday he would not name Yellen — the first woman to hold the post — for a second term when her tenure expires at the end of January. 

    “This is stunningly unusual,” says Faculty Affiliate Peter Conti-Brown, a financial historian who studies the Fed at the University of Pennsylvania’s Wharton School.
  • Penn Wharton PPI Faculty Affiliate, Professor Todd Sinai
    The tax bill released by Republicans on Thursday proposed capping the mortgage-interest deduction, limiting the portion of a mortgage on which people can deduct their interest at $500,000, down from the current level of $1 million. 

    Though Faculty Affiliate Todd Sinai says that the deduction doesn’t appear to encourage homeownership however, which it was ostensibly designed to do. 
  • Penn Wharton PPI Faculty Affiliate, Professor Franklin
    How will China’s leadership handle the challenges of the world’s second-largest economy, especially within its chaotic financial system?

    Faculty Affiliate Franklin Allen questions Xi’s appetite for painful reforms that are needed to rebalance China’s economy away from its longtime heavy reliance on construction investment and exports. “Xi has established tremendous political power. Now the question is how much of that he will turn into economic reforms,” Allen says.
  • Penn Wharton PPI Faculty Affiliate, Professor Jennifer Blouin
    The Republican tax plan going through Congress would give a break to companies such as Apple that have spent years dodging taxes. They could bring the money home by paying a nominal tax. The bill would also sharply cut the tax rate companies such as Apple pay, says Faculty Affiliate Jennifer Blouin.
  • A Cancer Information Service (CIS) staffer answers the phone and provides assistance to a caller.

    President Trump’s “America First” plan places significant focus on the creation of job opportunities for the millions of currently unemployed Americans. The expansion of Apprenticeship programs, having received bipartisan support, is one strategy being used to meet this goal. Senators Tim Scott and Cory Booker introduced the “Leveraging and Energizing America’s Apprenticeship Programs Act”, or LEAP act, this February, providing tax credits to companies per apprentice hired [1]. In the summer, President Trump affirmed his commitment to create 5 million new apprenticeships by 2022. [2] He signed an executive order this past June doubling the money for apprenticeship grants to $200 million while cutting the Department of Labor’s (DOL) main job training vehicle, the Workforce Innovation and Opportunity Act (WIOA), by 36%. [3]

  • U.S. Military Troops.
    Critics decry Amazon amendment in military funding legislation; GOP Senators mark-up tax code, delaying corporate tax cuts until 2019; Stocks fall on tax plan worries; Jobless claims hover below 240,000.
  • Penn Wharton PPI Faculty Affiliate, Professor Joseph Gyourko
    “Paying for dirt” refers to the ballooning land costs that now comprise an unprecedented part of house values, such as in severely unaffordable metropolitan markets. This has created an environment where affordability is impossible. 

    Faculty Affiliate Joseph Gyourko has researched how home costs and the costs of construction are affected. 
  • The GOP tax plan would add $1.7 trillion to the national debt. 
    Repealing ObamaCare mandate would save $338 billion over 10 years, according to CBO analysis; Demand for construction workers soft, even after hurricanes.
  • Source

    The United States is currently facing a massive opioid crisis. Over half a million people have died from overdose since 2000, and almost 800,000 people are addicted to opioids (43% of whom have Hepatitis C and 2% of whom suffer from HIV).[1] President Trump recently declared a national emergency on the opioid crisis, and created the President’s Commission on Combating Drug Addiction and the Opioid Crisis.[2] Although the Commission recommended many policies to reduce addiction and prevent overdose, more can be done. One policy currently being researched and pushed in several cities throughout the United States is the implementation of Safe Injection Facilities (SIFs). An SIF is a safe, environment where people who inject drugs are provided with a sterile equipment, medical oversight, and overdose-reversal medication immediately on hand in case of emergency.[3]

  • Despite the enrollment period’s shorter time frame and reduced funding for third party “navigators,” over 200,00...
    Record number of enrollees in the first few days of the Obamacare signup period; Job openings hold steady, near record high; Oil prices high on Saudi arrests
  • ObamaCare mandate repeals have resurfaced.
    Trump puts pressure on Congress to repeal ObamaCare health insurance mandate; William Wehrum nominated by Trump as new leader of EPA Office of Air and Radiation; Employment Index rises after hurricane-related declines.
  • The economy added over 260,000 jobs last month.
    House votes to repeal ObamaCare Medicare Independent Payment Advisory Board (IPAB); U.S. Added 261,000 Jobs in October; Unemployment Rate at 4.1%; U.S. trade deficit widens despite increase in exports.

 

PENN WHARTON PPI
RESOURCE SPOTLIGHT:

  • <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>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>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>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>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 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>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>
  • <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>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>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>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>