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In The News

  • 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. 
  • 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. 
  • 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.

  • 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.
  • 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.

  • 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.

  • Edward B. Shils Professor of Law and Professor of Political Science; Director of Penn Program on Regulation, Professor

    University of Pennsylvania Law Professor Cary Coglianese argues about the challenges of practical and fair regulatory practices for individuals. He indicates that it is difficult to be an effective regulator because there are many factors to take into consideration, such as the volatilities of the marketplace and of public opinion. Coglianese implies performance evaluations are one of the many avenues to help regulators navigate the complex marketplace.

     

  • Image: Voting key, symbolizing the growing connection between elections and technology. Source: National Conference of Sta...
    A report sponsored by Penn Wharton Public Policy Initiative has identified how various deficiencies in the voting technology industry has adversely affected the integrity of the US voting system. Variables such as a lack of capital and competition have stifled innovation within the industry and thus pose a threat to the democratic process.
  • Penn Wharton PPI Faculty Affiliate, Professor Howard Kunreuther
    In a discussion on the ensuing efforts to mitigate the effects of the recent major California Wildfires, Wharton Professor Howard Kunreuther insists on a focus on not only policy to address the issue, but also increasing community awareness and commitment to the necessary change.
  • Penn Wharton PPI Faculty Affiliate, Professor Peter Cappelli
    Various firms across different industries are seeing how “career spillovers” are shaping the composition of their workforce. Older employees are retiring at a slower rate, thereby adversing affecting the younger work forces ability for advancement. Within this tension, Professor Peter Cappelli notes how the frustration it causes for young employees is one of the primary reasons why firms have a difficulty retaining talent.
  • James G. Dinan Professor, Co-Director, Risk Management and Decision Processes Center, Professor of Decision Sciences and B...

    In this Penn Today article, Wharton Professor Howard Kunreuther discusses how to prevent the next wildfire disaster from occurring in the State of California. He argues”We need to figure out ways where the State of California, insurers, utilities, and residents can take steps to reduce these losses in the future.

  • Penn Wharton PPI Faculty Affiliate, Professor Peter Cappelli
    Wharton Management Professor, Peter Cappelli, provides an insightful analysis on some of the similarities and peculiarities of the tightening American labor market as it relates to the surges that occurred in the 1990’s. Within this discussion, Professor Cappelli explores youth-employment as variable within this larger equation and potential solutions to mitigate its consequences. 
  • Assistant Professor of Legal Studies and Business Ethics, Professor Peter Conti-Brown
    In this Bloomberg article, University of Pennsylvania professor Peter Conti-Brown discusses whether the Federal Reserve has the power to influence financial change in the United States. He indicates that it is more complex than a yes or no answer. Furthermore, he suggests that the Federal Reserve “… can rethink the way it supervises financial institutions or it can change its monetary policy framework.”
  • George W. Taylor Professor, Professor of Management, Director of Center for Human Resources Professor Peter Cappelli
    In this Bloomberg article, University of Pennsylvania Professor Peter Cappelli explores the complex relationship between business and politics regarding Non-Disclosure Agreements. He argues that the main purpose of an N.D.A is to prevent  “…behavior that some would consider unethical, or at least unflattering to leaders who otherwise cannot be held accountable.”
  • George W. Taylor Professor, Professor of Management, Director of Center for Human Resources, Professor Peter Cappelli
    To help meets its production goals of their 737 aircraft, Boeing is enlisting retired employees that posses the skills and knowledge required to meet the company objective. Regarding the recruitment of workers, Professor Peter Cappelli indicates, “Trying to find workers, especially on a temporary basis, who understand the operations and can make contributions immediately is otherwise just about impossible.”
  • Image: Voting key, symbolizing the growing connection between elections and technology. Source: National Conference of Sta...
    The Bloomberg article, “Private Equity Controls the Gatekeepers of American Democracy,” takes a critical look at who controls the U.S. election technology industry. Citing “The Business of Voting, Market Structure and Innovation in the Election Technology Industry,” the article points out that the market is overwhelmingly concentrated. “Congress in 2002 passed the Help America Vote Act and doled out more than $3 billion to states to upgrade machines and train poll workers. Once the funds dried up, the industry began consolidating. Now, the three companies cover about 92 percent of voters, according to research by the Penn Wharton Public Policy Initiative at the University of Pennsylvania.”
  • Penn Wharton PPI Faculty Affiliate, Professor Jennifer Blouin
    In a discussion on the GOP Tax Cuts, Wharton Professor of Accounting and Taxation, Jennifer Blouin, defends the claim that if US companies that have outsourced to other countries, return to the US, these gains will offset the current rise in the deficit.
  • Penn Wharton PPI Faculty Affiliate, Professor Michael Useem
    In a discussion on the management styles and practices of GE, Wharton Management Professor, Michael Useem, comments how the introduction of an outsider into their program represents a complete departure from historical culture of the organization.
  • Penn Wharton PPI Faculty Affiliate, Professor Susan M. Wachter
    In an interview with CNBC, Professor Susan M. Wachter of the Wharton School at the University of Pennsylvania discusses the effects of higher home prices on millennials. She indicates that although the United States is in peak housing supply, mortgage rates and housing prices are constricting demand. She also argues that millennials will continue to drive demand, but that they will want to buy at current prices and mortgage rates.
  • Economic Policy Challenges Facing California's Next Governor.
    According to the research of Lee Ohanian and Jesús Fernández-Villaverde, California has undergone an increase in population. A few of the problems related to population increase are the cost and lack of housing. The median home value in California is 150% above the national average($541,800 to $218,000). Additionally, only 30% of California residents are able to afford the state’s median home value. To address California’s housing challenges,  Ohanian and Fernández-Villaverde both argue to enact more zoning regulations that migrate people to lower cost of living areas. Also, both Ohanian and Fernández-Villaverde recommend expanding rent control.
  • Comparing Health Market Insurance Plans
    Since the implementation of the Affordable Health Care Act (ACA), many people who did not have access to health insurance through their employer, or qualify for  government programs are now able to receive health coverage. However, what is not taken into consideration is that one has to pay a great sum of money for health insurance before coverage occurs. Additionally, the issues that are now presented for ACA insurance holders are the lack of choices in hospitals, doctors, and non-network medical care. Daniel Polsky, who is an economist at the University of Pennsylvania indicates those that “have the most to lose from having a narrow-network plan are those who have something unexpected happen to them”.
  • Election polling location poster 
    Vox.com cites Penn Wharton Public Policy Initiative’s election technology industry analysis “The Business of Voting, Market Structure and Innovation in the Election Technology Industry,” in article about the vulnerabilities of the election infrastructure. Rather than criticize election officials, Vox.com suggests the public should look harder at the lack of incentives created for election companies to properly manage voting. “The revenue footprint of the entire US elections industry is less than $350 million — smaller, for instance, than a single construction company in Dallas, Texas.” 
  • Assistant Professor, Faculty Research Fellow of National Bureau of Economic Research
    In this Equitable Growth interview, Professors Ioana Marinescu and Herbert Hovenkamp discuss how new antitrust policies can solve the issue of decreasing wages from anticompetitive mergers. Both Marinescu’s and Hovenkamp’s unique perspectives allow the reader to understand the economic, social, and legal complexities of this particular economic issue.
  • 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. 
  • 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.
  • 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…”
  • 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.

PENN WHARTON PPI
RESOURCE SPOTLIGHT:

  • <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>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>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>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>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>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>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>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 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>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>