Projects in this sub-program study interactions between the financial sector and the real economy, specifically the role of banks, regulators, and other institutions. Research topics include financial frictions; heterogenous agents; intermediation; transaction costs; asymmetric information; regulatory coordination; risk measurement, capital requirements; credit ratings; interbank markets;; microeconomic foundations; liquidity and default; maturity transformation; asset valuation; etc.
Projects in this sub-program study households and individuals, specifically the of role “choice architecture” on their economic decision-making. Research topics include risk-taking and insurance markets; time inconsistencies and the annuity paradox; cognitive biases; behavioral applications to policy; experimental testing of nudges or other regulatory interventions; behavioral welfare economics; obfuscated markets; consumer finance; probabilities and perceptions of extreme events; etc.
Projects in this sub-program study universities and groundbreaking industries, specifically regarding human capital development and applications of information technology. Research topics include labor markets for scientists and engineers; high-skilled immigration; patterns of scientific publication, collaboration, and intellectual property protection; the economics of digitization; and the social returns on investments in research and development.
Projects in this sub-program study economic researchers, specifically with regard to their needs, opportunities, incentives, and professional practices. Research topics include legal entity identifiers; data citation standards; identification and tracking systems for scholars; federal statistics; smart disclosure platforms for obfuscated markets; data and metadata management protocols; privacy and access to social science datasets; the replicability of empirical research; and the economics of knowledge contribution and distribution.
New York Times
David Donaldson, Economist Who Studies Trade Benefits, Wins Clark Medal
The Brookings Institution
2017 Spring Brookings Papers on Economic Activity Conference
What is the best way to attract high-skilled migrants?
Computer Scientist Cynthia Dwork Awarded Gödel Prize
Who gains most from high-skilled foreign workers?
Who feels the pain of science research budget cuts?
- Empirical and hypothesis-driven;
- Policy-relevant, but neither “policy research” nor advocacy;
- Motivated by nonideological questions rather than preconceived answers;
- Engaged with fundamental puzzles, but using fresh approaches;
- Unbiased, statistically significant, and replicable;
- Careful about baselines, controls, confounding variables, and econometrics;
- Savvy about markets, institutions, regulation, transaction costs, behavioral biases, etc.;
- Contributors to research infrastructure, datasets, or resources for general use;
- Generators of highly cited and catalytic results in high-quality journals;
- Ultimately concerned with the quality of life in the United States.