Professor Simon Johnson writes for The Financial Times about the potential danger posed to the economy during crises by clearing houses. Johnson argues that clearing houses should be subject to greater regulation and should ensure they have sufficient capital on hand to cover losses.
Timothy Aeppel writes for The Wall Street Journal about Professor Erik Brynjolfsson’s belief that advances in automation have the same transformative impact on the economy as inventions of the past. “For the first time in history, we can talk to machines and they talk back to us,” says Brynjolfsson.
Della Bradshaw of The Financial Times writes about Professor Andrei Kirilenko, who recently spent three-and-a-half weeks in Ukraine advising the country’s government on how to stabilize the economy. Kirilenko is a U.S. citizen who grew up in the Ukraine.
Wall Street Journal reporter Irving Wladawsky-Berger examines Prof. David Autor’s research on income inequality. “Mr. Autor estimates that the difference in the yearly earnings between a college-educated two-income family and a high school-educated two-income family has risen by $28,000 between 1979 and 2012,” he writes.
David Wessel writes for The Wall Street Journal about Professor Athanasios Orphanides’ research into the European Union’s management of the economic crisis. “Rather than work towards containing total losses, politics led governments to focus on shifting losses to others,” says Orphanides.
Douglas Martin writes for The New York Times about the late Professor Morris Adelman who died at his home in Newton on May 8. Adelman spent six decades as a faculty member in the MIT economics department.
The Economist looks at the work of Professor David Autor while investigating how technological advances are influencing future employment. Autor’s research indicates that the fact that a job can be automated does not guarantee it will be and other factors, such as the cost of labor, play a role.
“Where noncompetes are not enforced, there’s a more open labor market — companies compete for talent,” said Professor Matthew Marx in this New York Times article by Steven Greenhouse. Marx sites California’s ban on noncompetes as a major reason for Silicon Valley’s success.
“According to a paper by Mr. Autor published Thursday in the journal Science, the true cost of a college degree is about negative $500,000,” David Leonhardt writes in a New York Times piece about David Autor’s research on inequality.
In an article for The Washington Post, Jim Tankersley reports on a new Science article by Professor David Autor. In the article Autor contends that inequality, driven by varying levels of education, has risen dramatically among the 99 percent.
Wall Street Journal reporter Brenda Cronin features David Autor’s new research on inequality. “Two ‘destructive’ points that Mr. Autor tries to skewer with his most recent work are the idea that prospects are dim for all but the financial elite—and the notion that too many students are giving rise to a “college bubble,” Cronin writes.
In an article for Forbes, Yevgeniy Feyman and Fil Babalievsky report on new research from Professor Jonathan Gruber that tackles the question of how competition among insurers impacts premium rates.
A new study by researchers from MIT and Harvard shows that emigration may not relieve pressure on weak economies, The Economist reports.