The University of Chicago asks a group of academics about gift-giving and the holidays. Their responses will melt your heart. Cash is the most efficient gift, according to economists. Cash is also a terrible gift, according to economists. By guaranteeing that the recipient can buy exactly what she wants, you guarantee that the recipient will […]
This week’s IGM Economic Experts Panel statements:
A: The average US citizen would be better off if a larger number of low-skilled foreign workers were legally allowed to enter the US each year.
B: Unless they were compensated by others, many low-skilled American workers would be substantially worse off if a larger number of low-skilled foreign workers were legally allowed to enter the US each year.
In general, absent any inside information, an equity investor can expect to do better by choosing a well-diversified, low-cost index fund than by picking a few stocks.
For the past two years, our expert panelists have been informing the public about the extent to which economists agree or disagree on important public policy issues. This week, we are delighted to announce that we are expanding the IGM Economic Experts Panel to add ten new distinguished economists. Like our other experts, these new […]
This week’s IGM Economic Experts Panel statements:
A: Enactment of the Senate bill to subject the Federal Reserve's monetary policy and discount window decisions to an audit by the Comptroller General of the U.S. would improve the Fed's legitimacy without hurting its decision making.
B: The Fed should not reduce its purchases of mortgage-backed securities and treasurys until there is clearer evidence of strong and sustained employment growth.
The IGM congratulates Eugene Fama, Lars Peter Hansen and Robert Shiller, who have been awarded the Nobel prize in economics. John Cochrane explains Gene Fama’s contributions to the understanding of asset prices here. As an example of how much the ideas behind this year’s Nobel have influenced economics, see this unanimous response to a question […]
This week’s IGM Economic Experts Panel statements:
A: If the United States fails to make scheduled interest or principal payments on government debt securities, even as an unintended consequence of political brinksmanship, US families and businesses are likely to suffer severe economic harm.
B: With or without a default, current uncertainty over future taxing and spending policies of the US government is likely to depress private investment and hiring by enough to reduce GDP growth by at least a quarter of a percentage point over the next 12 months.
