EconoFact Chats

Many people have a part of their retirement nest eggs invested in the stock market. But if you are years away from retirement, does it make sense to follow every up and down of the market? What determines stock prices anyway? And what are the links between financial markets and the broader economy? On this episode of EconoFact Chats, Professor John Campbell of Harvard University discusses these an...

Michael Klein is joined by Kenneth Rogoff of Harvard University for a discussion on the history of paper currency, the amount of currency currently in circulation, and the ways in which large-denomination bills facilitate criminal activity, tax avoidance, and corruption. Their conversation also touches on the growing adoption of digital currencies, and the rise of cryptocurrencies like Bitcoin.

Economists tend to consider public policies from the perspective of efficiency or equity, but do not always consider their political feasibility. However, legislation cannot take effect without the political support required to pass it, no matter how efficient or equitable it may be. In this episode of EconoFact Chats, host Michael Klein, and Jacob Hacker of Yale University discuss the politics be...

Chad Bown of the Peterson Institute for International Economics joins Michael Klein to discuss China's role in the global economy, as well as the international cooperation involved in COVID-19 vaccine manufacturing and distribution.

The gender pay gap in the United States has narrowed over the last 50 years, but today women still earn about 20 percent less than men. In this episode of EconoFact Chats, Francine Blau joins Michael Klein to discuss the gender pay gap, female labor force participation in the US, and the push to reduce gender discrimination, specifically in the economics profession. Francine is the Frances Perkins...

Nobel Prize winner Paul Krugman joins Michael Klein for a discussion on globalization, global trade patterns since the late 19th century, trade policy, protectionism and tariffs, and industrial policy. They also discuss the economics of geography, and the importance of communicating clear economic models. Krugman is a Distinguished Professor of Economics at the Graduate Center of the City Universi...

The World Bank estimates that 1 out of every 11 people in the world lives in extreme poverty. While this is a troubling statistic, three decades ago, that number was more than one in three. On this episode of EconoFact Chats Lant Pritchett of Oxford University joins Michael Klein to discuss the causes of global poverty reduction, focusing on how economic growth correlates with lower poverty rates....

The CARES Act helped mitigate the financial impact of COVID-19 for many people. But it has resulted in an increase in the federal budget deficit, and the federal debt to levels not seen since World War II. What are the costs of a growing federal budget deficit today, and for future generations? To answer this and other questions, Olivier Blanchard joins Michael Klein on EconoFact Chats. Currently...

In December 2020 the Trump Administration revealed that hackers broke into key government networks in one of the largest and most sophisticated cyberattacks in recent history. Can such cyberattacks be stopped? Or at least limited? Or are businesses, governments, and individuals just going to have to learn to live with them? To discuss these, and other issues related to cybersecurity, Michael Klein...

Over 10 million children in the United States live in poverty. Poor children tend to have worse physical and mental health, worse educational outcomes, and lower lifetime earnings than their peers. On this episode of EconoFact Chats, University of Maryland professor Melissa Kearney joins Michael Klein to discuss the scope and causes of child poverty in the U.S., and the policy efforts to alleviate...

As President-elect Joe Biden takes office, his administration faces challenges with little precedent in recent memory; a pandemic which shows few signs of abating, a vaccine that has been developed in record time, but has seen a slow rollout, and an economic downturn not seen since the 1930s. All of this comes at a time of deep political divisions. On this episode of EconoFact Chats Michael Klein...

COVID-19 serves as a warning of what we are likely to face with future pandemics. What incentives can governments use to accelerate vital vaccine development and deployment? Are there differences in the incentives that would help combat something like an annual flu, and a raging pandemic? How do the benefits of vaccinations to individuals fall short of the benefits to society at large? To discuss...

Stephen O'Connell of Swarthmore College joins Michael Klein for a discussion on the impact of COVID-19 on emerging markets, focusing on trade, remittance flows, and foreign aid; as well as the potential delays developing countries face in accessing a COVID vaccine. O'Connell served as the chief economist in the United States Agency for International Development from 2014 to 2015.

Florida overwhelmingly voted to increase the minimum wage to $15 per hour; and nationwide surveys suggest that two-thirds of Americans support increasing the federal minimum wage. As broad support for this policy grows, understanding who benefits from increases to the minimum wage becomes more important. On this episode of EconoFact Chats, Michael Klein speaks with Jonathan Meer at Texas A&M Unive...

This week on EconoFact Chats, host Michael Klein talks to Jeffrey Fuhrer about the role of the Federal Reserve in responding to crises, its recent focus on addressing inequality, and the changing nature of inflation. Fuhrer recently completed almost four decades of work in the Federal Reserve System.

Current strategies to address climate change include subsidizing clean energy production, raising minimum efficiency standards for buildings and factories, and even instituting outright bans on gasoline-powered automobiles. But another strategy, one advocated by many economists -- the carbon tax -- harnesses market forces to lower greenhouse gas emissions. On this episode of EconoFact Chats, Tufts...

The notion that through hard work and diligence, people can better their stations in life is at the bedrock of the American dream. But there's a growing sense that inequality is a persistent feature of this country. This week on EconoFact Chats, Michael Klein, and Harvard professor Karen Dynan discuss wealth inequality, and the policies that can help address it. They also discuss the future of soc...

Michael Klein is joined by Bill Gale, a senior fellow at the Brookings Institution, and co-director of the Tax Policy Center, to discuss the government's large budget deficit, tax policy, and issues of redistribution. They also discuss Bill's book, "Fiscal Therapy: Curing America's Debt Addiction and Investing" in the Future.

Michael Klein, and Binyamin Appelbaum, lead writer on economics and business for The New York Times Editorial Board discuss Binyamin’s book The Economists’ Hour. The discussion focuses on the history of economists influencing public policy, and the limitations of free markets in solving issues like inequality.

The COVID-19 pandemic plunged the U.S. into its worst economic downturn since the Great Depression. In the spring, it was unclear if there would be a quick recovery, a slow recovery, or if the recession would be prolonged. Seven months on, an added concern is whether a recovery would be K-shaped—with economic conditions improving for some, while hard times continue for others. This week on EconoFa...

This week on EconoFact Chats, Michael Klein and Harvard Economics Professor Jeremy Stein discuss the impact of COVID-19 on the financial system and, through this, on the broader economy. They compare and contrast the current economic crisis, and the policies to combat it, to the 2008 financial crisis. The conversation draws on Stein’s experience as a member of the Board of Governors of the Federal...