economics archive

Cutting costs one image at a time - In an effort to assess health-care organizations' cost-cutting techniques, MIT urban economist Frank Levy will study the effects of different initiatives to restrict non-necessary medical-imaging procedures on the costs and quality of care. July 17, 2008

Experts say EU emissions system working well - In a bid to control greenhouse gas emissions linked to climate change, the European Union has been operating the world's first system to limit and to trade carbon dioxide. This "cap-and-trade" system has operated well, according to an MIT analysis. June 10, 2008

Economics awards - Awards given in MIT Economics for the academic year 2007-2008. June 4, 2008

Study says teacher tests deter talented individuals - Teacher certification tests may be undermining American public education by deterring higher-quality candidates from applying to teach, according to MIT labor economist Joshua Angrist and Jonathan Guryan of the University of Chicago. June 4, 2008

Blanchard appointed IMF chief economist - MIT economist Olivier Blanchard, a macroeconomist specializing in monetary policy, global imbalances, labor-market performance and speculative bubbles, has been appointed chief economist of the International Monetary Fund. May 28, 2008

The cost of repealing blue laws - Repealing America's blue laws not only decreased church attendance, donations and spending, but it also led to a rise in alcohol and drug use among people who had been religious, according to a new study by economists from MIT and Notre Dame. May 21, 2008

Study debunks myth of job testing as race barrier - Do standardized tests that some employers require of job applicants serve as a barrier to equal employment? A pioneering study co-authored by an MIT economist shows that screening helps productivity without hindering minority hiring. May 7, 2008

China Forum lecture series begins May 14 - MIT will kick off a new monthly lecture series on China with a talk by Yingyi Qian, dean of the School of Economics and Management at Tsinghua University and professor of economics at UC Berkeley. Qian will speak about China's economic transformation. May 7, 2008

MIT commercial property price index turns higher - Despite signs of a widening disconnect between buyers and sellers, transaction sale prices of U.S. commercial property owned by institutional investors rose 2.1 percent in the first quarter of 2008, according to an MIT index. May 6, 2008

Study of universal day care paints mixed picture - Universal day care, the recurring dream of working parents everywhere, benefits adults economically but may affect young children's well being, according to an MIT economist's study of a highly subsidized childcare program in Quebec. May 2, 2008

Bingaman pushes amped-up U.S. energy policies - Boosting Washington's "anemic and unreliable support for basic science and engineering enterprise" is a critical step toward a viable energy future, U.S. Sen. Jeff Bingaman, D-N.M., told an MIT audience on Friday, April 25. April 29, 2008

Innovator receives sustainability award - Dr. Martin Fisher is transforming the lives of poor African farmers through a combination of technological invention and business development. For his work, Fisher has been named the 2008 recipient of the Lemelson-MIT Award for Sustainability. April 23, 2008

Governor says clean energy can boost economy - Massachusetts Governor Deval Patrick told an enthusiastic crowd at MIT on Tuesday that clean energy has the potential to bring about an economic bonanza for the commonwealth at the same time that it improves the planet's well-being. April 23, 2008

Edwards urges students to make themselves heard - The global problems of climate change, population growth and severe poverty are so enormous that no one country can solve them alone, John Edwards told attendees at a student-organized conference on global poverty at MIT. April 18, 2008

Student conference targets global poverty - Former senator and presidential candidate John Edwards will be among the speakers at an MIT conference April 18-20 involving more than 1,000 students from around the country dedicated to fighting the problems of extreme poverty in the world. April 16, 2008

E-ZPass takes a toll - Eighteen months of road trips between Boston and New York and one Eureka moment inspired MIT economist Amy Finkelstein to study the hidden cost of E-ZPass, the popular electronic toll collection system that eliminates the frustration of manual tolls. April 9, 2008

Defying logic, consistently - Unexpected and surprising connections are at the heart of research conducted by MIT Professor Dan Ariely, whose studies have demonstrated that people often make decisions that seem to defy logic--but they do so in very predictable, consistent ways. April 9, 2008

MIT experts sound off on national tax rebates - MIT experts on economics and public opinion are optimistic that this year's tax rebate plan will briefly stimulate the U.S. economy, but they warn that rebate checks alone won't sustain economic progress in the face of record-high consumer debt. April 9, 2008

Patrick outlines economic growth plan at MIT - In a speech Wednesday at MIT to business and government leaders, Massachusetts Governor Deval Patrick unveiled a plan to pump $3.8 billion into the state's economy as a safeguard against worsening economic conditions. April 9, 2008

Same pill, different price. Which is better? - A higher-priced medication with a brand name might work better than a generic version--even if the pills are exactly the same--simply because the patient thinks the expensive prescription should work better, according to a recently published MIT study. March 19, 2008

Solving the drug price crisis - The mounting U.S. drug price crisis can be contained and eventually reversed by separating drug discovery from drug marketing and by establishing a non-profit company to oversee funding for new medicines, according to two MIT experts. March 17, 2008

Poterba to lead U.S. economic research group - James Poterba, head of the MIT economics department, has been appointed president and CEO of the National Bureau of Economic Research, a nonprofit organization dedicated to promoting greater understanding of how the economy works. February 21, 2008

Bustani lectures to feature Avishai - The Emile Bustani Middle East Seminar at MIT, now in its 22nd year, will present two lectures this spring on contemporary Middle Eastern affairs. February 19, 2008

How to toughen up environmental treaties - According to MIT Professor Lawrence Susskind, few global environmental treaties have done more than slow the pace of ecological damage, due problems with ratification, enforcement and financial support. February 16, 2008

MIT to review U.S. energy technology innovation - A two-year, $2-million grant from the Doris Duke Charitable Foundation will enable researchers at MIT to conduct a comprehensive assessment of the energy technology innovation system in the United States. February 7, 2008

MIT commercial property price index shows decline - The value of U.S. commercial real estate owned by big pension funds fell 5 percent in the fourth quarter of 2007, according to an index produced by the MIT Center for Real Estate, showing a deeper drop than that of the third quarter. February 5, 2008

MIT economist sees U.S. weathering $100 oil - As the price of oil hit the $100 mark for the first time on Jan. 2, it may have looked like 1973 all over again to some observers. But research by an MIT macroeconomist shows that a return to 1970s-style gas lines and stagflation isn't in the cards. January 2, 2008

Microcredit pioneer to be Commencement speaker - Muhammad Yunus, winner of the 2006 Nobel Peace Prize, will deliver MIT's 2008 Commencement address on June 6. Yunus won the Nobel Prize for pioneering the microlending movement, which offers credit without collateral to the poor. December 5, 2007

U.K.'s Stern eyes responses to climate change - As difficult as adapting to climate change will be for rich countries, developing countries will be much more deeply affected, British government adviser Nicholas Stern told an MIT Energy Initiative (MITEI) colloquium Monday, Nov. 19. November 28, 2007

Former students honor Ross with $100K prize - Linked by the "transforming influence" he has had on their lives and careers, more than 50 former students of MIT Professor of Financial Economics Stephen A. Ross unveiled a major new prize in his name to honor outstanding papers in his field. November 14, 2007

MIT index shows drop in commercial property value - The value of U.S. commercial real estate owned by big pension funds fell 2.5 percent in the third quarter of 2007, according to an index produced by MIT, signalling that weakness in the housing market may be spilling over into commercial real estate. November 14, 2007

Study sees potential for more U.S. emissions - U.S. greenhouse gas emissions could grow more quickly in the next 50 years than in the previous half-century, even with technological advances and current energy-saving efforts, according to a new study co-authored by an MIT professor. November 13, 2007

Course promotes scientific approach in poverty fight - MIT's Abdul Latif Jameel Poverty Action Lab is technically located on the edge of campus. But the real lab is a primary school in a sub-Saharan African town, a household kitchen in a home in rural India or an unemployment line in a suburb of Paris. November 7, 2007

MIT economist analyzes troop surge in Iraq - Michael Greenstone, 3M Professor of Economics, has applied statistical techniques he uses in measuring the economic impact of climate change to conduct the first quantitative analysis of the U.S. troop surge in Iraq. November 5, 2007

Human-caused ozone will damage crops, economy - A novel MIT study concludes that increasing levels of ozone due to the growing use of fossil fuels will damage global vegetation, reducing production by 10 percent or more by 2100 and resulting in serious costs to the world's economy. October 26, 2007

TV series launches project to shape Boston's future - MIT, in association with State Street Corporation, Distrigas/Suez, Blue Cross Blue Shield and the Boston Foundation, announced Oct. 8 a major project designed to help position Boston at the forefront of world-class cities of the future.  October 8, 2007

Genes influence choices in economics game - An international team of researchers including an MIT graduate student has demonstrated for the first time that genes exert influence on people's behavior in a very common experimental economic game. October 1, 2007

MIT launches Airline Data Project - MIT's Global Airline Industry Program and the International Center for Air Transportation launched the Airline Data Project (ADP) Oct. 1 featuring an online databank that provides a comprehensive collection and analysis of airline data since 1995. October 1, 2007

Research suggests retirement wealth will grow - The average value of Americans' 401(k) plans will be substantially higher in real terms by the year 2040 even if stock market returns fall short of their historical values, according to new research by a team of economists from MIT, Harvard and Dartmouth. August 6, 2007

MIT International Review eyes global solutions - A pair of globally minded MIT students have launched a new journal that aims to hash out solutions to major world problems with the kind of cross-disciplinary zeal that is becoming commonplace at the Institute. July 5, 2007

Kids gain more from family than foster care - Joseph Doyle Jr. of MIT's Sloan School of Management, has for the first time shown that children faced with two options - their troubled families or foster care - have generally better life outcomes when they remain with their families. July 3, 2007

E. Cary Brown, fiscal policy expert, dies at 91 - As a professor of economics at MIT for more than 60 years, Brown taught a wide range of graduate and undergraduate courses on tax policy design, statistical methods for economics and the economics of fiscal policy. June 27, 2007

MIT model compares effects of emissions bills - While Congress considers seven bills that aim to limit America's greenhouse gas (GHG) emissions, the MIT Joint Program on the Science and Policy of Global Change applied its model to the bills to determine how their costs might affect the domestic economy. June 26, 2007

Economics awards - Recent achievements by members of the MIT community. June 6, 2007

MIT economist will head Sloan Foundation - The Alfred P. Sloan Foundation's board of trustees has announced the election of Paul L. Joskow as president of the foundation. Joskow is a professor of economics and management at MIT and director of the MIT Center for Energy and Environmental Policy Research. June 6, 2007

Gauging market-efficiency of alternative fuels - Imagine a vehicle that runs on hydrogen or biofuels and offers the same features, performance and price as today's gasoline vehicle. Will it capture half the market? Not likely, concludes a new MIT analysis. Not even if it's three times more fuel-efficient. May 30, 2007

Finkelstein will give Sigma Xi Lecture - Amy Finkelstein, assistant professor of economics, will deliver the 2007 Sigma Xi Lecture, titled "Researching the Impact of Universal Health Insurance: Lessons from Medicare," at 8:30 p.m. on Thursday, April 26, at the MIT Faculty Club. April 25, 2007

Ellison is named inaugural Palm Professor of Economics - Professor Glenn Ellison, a leader in the fields of economic theory, industrial organization and financial economics, has been named the inaugural holder of the Gregory K. Palm '70 Professorship in Economics. March 26, 2007

Amsden compares business models' impact - Alice Amsden, the Barton L. Weller Professor of Political Economy, explored which types of businesses are most likely to further growth in developing nations during a talk titled "Nationalism and the Firm." March 13, 2007

Panel reviews economics of climate change - Sir Nicholas Stern's report on the economics of climate change was significant for being produced at all--as the first attempt by a major national government to identify climate change as a major issue, concluded panelists at a recent MIT presentation. February 13, 2007

Economist explores housing price predictions - In a packed IAP seminar on "How Far Will the Housing Bubble Burst?", MIT economist William C. Wheaton showed how forecasting models based on historic data may not match the complicated reality of today's housing market. February 12, 2007

Students learn technology of medieval clothing - Technologies don't have to be complex to be effective. Nor do they need to be complex to be difficult to master. These were among the lessons made clear to students during a 3-day class in making clothes the VERY old-fashioned way. January 30, 2007

MIT simplifies prediction of complex systems - Taking a cue from the financial world, MIT researchers along with experts in industry and government have developed a list of 13 measures that engineers can use to predict how well a system--or project--will perform before it is even finished. January 19, 2007

CRE announces new commercial property index - Real Capital Analytics (RCA) and the MIT Center for Real Estate are launching a set of pioneering indexes for tracking commercial investment property prices in the United States, the center director and RCA president said in a joint announcement today. December 20, 2006

Party shift in Congress may frustrate science funding - The shift in party balance in the U.S. Congress may have created an unexpected roadblock to a long-awaited boost in government funding for the physical sciences, MIT experts said Dec. 13. December 19, 2006

'Freakonomics' author addresses undergraduates - Economics alumnus Steven Levitt (Ph.D. 1994) delivered the Undergraduate Economics Association (UEA) fall lecture on Dec. 4 to an audience of more than 200 gathered in E52-398. December 18, 2006

DUSP prof makes a BID for the French Quarter - Lorlene Hoyt has still not made up her mind about downtown management organizations. An assistant professor in urban studies and planning, Hoyt spent much of her career studying these controversial entities. December 4, 2006

Economist portrays a new Democratic moment - All eyes may be on Iraq right now. But Alice Amsden, an MIT professor of economy, clearly hopes the new Congress will move to foster the kind of economic growth in the developing world that will fight terrorism by depriving it of oxygen. November 30, 2006

MIT economist wins innovation prize - Economist Stephen A. Ross, whose work has significantly impacted how market participants measure and address risk, has been awarded the inaugural Chicago Mercantile Exchange-Mathematical Sciences Research Institute Prize. October 6, 2006

SHASS announces new department heads - Five new heads in the School of Humanities, Arts and Social Sciences have been named, effective July 1, 2006. September 12, 2006

New Orleans needs 'development bank' - MIT political economist Alice H. Amsden has extensively examined issues of development from a global perspective -- issues that can be applied to the challenges facing the Gulf Coast states following Hurricane Katrina's devastation. August 30, 2006

Electricity blackouts: A hot summer topic - It is a common misperception that blackouts are caused by power shortages, but in any given year, about 90 percent of the power outages that customers experience are due to problems with the local distribution network, says an MIT professor. August 8, 2006

Commencement address by Ben S. Bernanke - Text of speech given by macroeconomist Ben S. Bernanke, chair of the Federal Reserve and an MIT alumnus, at MIT's 140th Commencement held June 9, 2006. June 9, 2006

Economics awards - 2006 Awards listings. June 7, 2006

Prestowitz to give Miller talk - Economist Clyde Prestowitz, a veteran of the Reagan administration and prominent conservative critic of the policies and conduct of the Bush White House, will deliver the annual Charles L. Miller Lecture on April 4. March 22, 2006

Historian wins prize for 'Pocketbook Politics' - The Boston bargain-hunter's landmark store, Filene's Basement, plays a starring role in a new book on mass consumption and purchasing power written by Meg Jacobs, an associate professor of history at MIT. March 10, 2006

Prof offers perspective on hosting Olympics - The 2006 Winter Olympics in Turin, Italy, may have ended on Sunday, but hosting Olympic Games can affect cities for years to come, according to Julian Beinart, professor of architecture and author of several papers on the subject. February 28, 2006

Professor sizes up competition in new book - American companies will find the avenues to success in the global economy both wider and less dependent on cheap labor than media reports suggest, according to a new book by Professor Suzanne Berger and MIT colleagues. February 8, 2006

IAP: Lab puts poverty programs to the test - The executive director of MIT's Abdul Latif Jameel Poverty Action Lab will discuss how scientific methods are being used to measure the impact of poverty reduction policies at an IAP session to be held Feb. 1. January 31, 2006

Alumnus takes reins of Federal Reserve - MIT alumnus and macroeconomist Ben S. Bernanke assumes leadership of the Federal Reserve on Feb. 1. The head of the Fed is widely considered to be the world's most powerful economist. January 31, 2006

IAP: Experts report world economy in good health - Robert Solow, 1987 Nobel laureate in economics, and Olivier Blanchard, professor and former department head of economics, agreed on the generally vigorous health of the global economy in an IAP presentation held Tuesday, Jan. 24. January 30, 2006

Federal Reserve expert available for media interviews - MIT professor Kristin Forbes is available to speak with members of the media on the Feb. 1 changeover in leadership at the Federal Reserve. January 27, 2006

Experts available to discuss labor issues and manufacturing - MIT faculty experts are available to discuss with the media issues related to labor and manufacturing in the U.S. January 26, 2006

IAP: Professor illustrates benefits of Wal-Mart - MIT Economics Professor Jerry Hausman placed the cooling hand of numbers on the fevered brow of notions about Wal-Mart's economic impact in a recent IAP session on the consumer benefits from increased shopping competition. January 20, 2006

IAP session analyzes speed dating - So, what do men and women really look for in a date? Economist Raymond Fisman, who spoke on the subject during MIT's Independent Activities Period, thinks he knows. January 11, 2006

Team analyzes wind energy potential - MIT researchers studying winds off the Northeast coast have found that estimating the potential environmental benefits from wind requires a detailed understanding of the dynamics of both renewable resources and conventional power generation. December 21, 2005

Brush with Bono - U2 lead singer Bono paid a visit to MIT to meet the leaders of the Abdul Latif Jameel Poverty Action Lab in the Department of Economics on Tuesday, Dec. 6. December 14, 2005

Ben Bernanke to speak at Commencement June 9 - An MIT-educated economist whom President Bush has designated to serve as chairman of the Federal Reserve will be MIT's 140th Commencement speaker on Friday, June 9, 2006, in Killian Court. December 13, 2005

MIT alum nominated to head Fed - MIT alumnus and macroeconomist Ben S. Bernanke (Ph.D. 1979), chairman of the President's Council of Economic Advisers, has been nominated to become chairman of the Federal Reserve. October 25, 2005

Alumnus backs Poverty Action Lab - MIT announced Oct. 12 that alumnus Mohammed Abdul Latif Jameel has committed a substantial gift in support of the Poverty Action Lab in the Department of Economics. October 12, 2005

MIT alumnus Aumann wins economics Nobel - MIT alumnus Robert J. Aumann, the co-recipient of the 2005 Nobel Prize in economics, is the third MIT-affiliated Nobel laureate whose models for understanding conflict and decision-making -- known as game theory -- have been recognized with the famed $1.3 million prize. October 11, 2005

Awards and Honors - Recent achievements by members of the MIT community. September 28, 2005

Economist to discuss ending poverty Sept. 14 - Muhammad Yunus, the Bangladeshi economist who pioneered the microcredit movement, will deliver a talk titled "Ending Global Poverty" on Wednesday, Sept. 14, in Kirsch Auditorium at the Stata Center. September 13, 2005

Environmental policies cut health costs, team finds - MIT researchers are using a novel technique to calculate an underappreciated benefit of environmental regulation: the economic gains that come from having a healthier population with less pollution-induced sickness and death. September 9, 2005

Heywood to U.S.: Support fuel efficiency - Higher petroleum costs threaten our nation's security and economy, creating a "strong need" to take action to drive down fuel consumption, according to MIT Professor John B. Heywood, who testified before Congress last week. July 29, 2005

Samuelson celebrates 90th - Friends and former students gathered to honor economist Paul A. Samuelson, Institute Professor emeritus and 1970 Nobel laureate, on his 90th birthday May 15 at Boston's Fairmont Copley Plaza Hotel. May 17, 2005

Acemoglu wins Clark Medal - Professor Daron Acemoglu has received the prestigious John Bates Clark Medal, awarded to an American economist under the age of 40 for making a significant contribution to economic thought and knowledge. April 27, 2005

Human element key in new labor economy - A new book by two economists at MIT and Harvard portrays the current unsettled American labor landscape, offers suggestions for educational improvements, and gives a success story from a Boston elementary school. January 19, 2005

Study reviews supply chain prophesies - An extensive review of predictions about the supply chain revealed some agreement on the future shape of supply chains, but also raised many questions. January 10, 2005

Econ faculty named to professorships - Dean Philip Khoury of the School of Humanities, Arts and Social Sciences announced the appointments of several faculty members to professorships, all effective July 1, 2004. October 6, 2004

Acemoglu to hold chair - Professor of Economics Daron Acemoglu has been selected as the inaugural holder of the new Charles P. Kindleberger Professorship in Applied Economics for a five-year renewable term. April 7, 2004

Social Security can be saved, Diamond says - Economist Peter A. Diamond compared the fiscal status of the U.S. Social Security trust fund with public perceptions and summarized proposals for reforming the program. March 31, 2004

Social Security can be saved - Economist Peter A. Diamond compared the fiscal status of the U.S. Social Security trust fund with public perceptions and summarized proposals for reforming the program. March 19, 2004

Low-tar cigarettes do not cut cancer risk - The risk of lung cancer is no different in people who smoke medium-tar, low-tar or very low-tar cigarettes, concludes a study by an MIT-led research team published Jan. 10 in the British Medical Journal (BMJ). January 14, 2004

Lung cancer risk not cut - The risk of lung cancer is no different in people who smoke medium-tar, low-tar or very low-tar cigarettes, concludes a study by an MIT-led research team. January 8, 2004

Summers recalls good old days in Treasury - Lawrence H. Summers, former Secretary of the Treasury and current president of Harvard, returned to his alma mater to deliver an informal talk on the role economists play -- and do not play -- in forging public policy. October 22, 2003

Global health costs risen - Health care costs are rising worldwide at rates that alarm governments, businesses and individuals, acknowledged Daniel Vasella, chairman and CEO of Novartis AG, a global pharmaceutical corporation. October 1, 2003

Economics head named - Professor Bengt Holmstrom has been appointed to serve as head of the Department of Economics for a three-year term, which became effective July 1. September 24, 2003

Forbes tapped for panel - President George W. Bush has chosen Kristin Forbes, associate professor of applied economics at the Sloan School, to serve on his Council of Economic Advisers. June 4, 2003

Diamond wins Killian - Institute Professor Peter A. Diamond has been named winner of the James R. Killian Jr. Faculty Achievement Award for 2003-04. June 4, 2003

Biographical Sketch Peter Diamond - Dr. Peter A. Diamond, one of the world's leading economists, is an Institute Professor at the Massachusetts Institute of Technology. May 23, 2003

Earthquake patterns noted - An economist from MIT and physicists from Boston University discovered that large-scale events in the stock market adhere to distinct patterns. May 21, 2003

Stock trade and financial earthquakes - An interdisciplinary team comprising an economist at MIT and physicists from BU discovered that large-scale events in the stock market adhere to distinct patterns. May 14, 2003

Research universities boost Hub by $7B - Greater Boston's eight research universities--magnets for talent and billions of dollars in investment--will play a key role in the region's economic recovery. March 12, 2003

Economic Impact Facts - Boston's eight research universities constitute one of the region's leading employers. They employed 50,750 people in 2002, more than a number of leading regional industries, including securities, banking, insurance, management consulting, and computer manufacturing. March 12, 2003

Nobelist examines economy - The attack on the World Trade Center was a "great human tragedy, but not necessarily an important economic event," said Nobel laureate Robert M. Solow. November 28, 2001

Solow examines economy, 9/11 effects - The attack on the World Trade Center was a "great human tragedy, but not necessarily an important economic event," said Nobel laureate Robert M. Solow before an attentive audience at a Nov. 15 talk. November 19, 2001

6 industries key to US boom - Solow and Cambridge University economist Robert Rowthorn analyzed the US and British economies at a Cambridge-MIT Institute (CMI) Summit meeting. November 7, 2001

Debating China's economy - Four economists offered radically different assessments of China's economy and forecasts for the future for the soon-to-be member of the World Trade Organization. October 24, 2001

Panelists identify factors in attacks - The events of Sept. 11 ensure a recession in the United States, but it should be gone by the middle of 2002, predicted the head of the Department of Economics. October 17, 2001

Panel to discuss Chinese economy - Four seasoned observers of the Chinese economy will head a panel discussion on "China As the World's Biggest Economy?" on Wednesday, Oct. 17. October 3, 2001