Today’s post is about another major reason private markets can fail: public goods.

DePaul University has told faculty it will immediately reduce spending following a 30% decline in international enrollment this fall. The move is the latest by U.S. colleges to cope with the disruptive education and immigration policies of President Donald Trump.

The DHS chief has been widely criticized for slowing down FEMA’s response after natural disasters. Texts and emails obtained by ProPublica point to an effective way to get help faster: have one of Noe...

The “Thriving in Economics” e-book series (pdf format) is a crowdsourced collection of bite-sized advice on almost everything related to a PhD and career in economics, featuring a variety of new and…

When there is no power there is no internet for a large number of people. Economists for Ukraine is coordinating the deployment of an emergency internet

Using short- and long-term macroeconomic forecasts, we estimate the cost of the Russian full-scale invasion of Ukraine for countries in Eastern Europe, Caucasus, and Central Asia. Shortly after the Russian attack, the projected cost (cumulative over six years) stood at $2.44 trillion for the region. Professional forecasters predicted a dramatic increase in macroeconomic uncertainty, significant spillover effects, some hysteresis effects as well as a changing nature of business cycles. We also use the war shock to study how professional forecasters acquire and process information. Our results point to state dependence as well as an important role of forward information in shaping macroeconomic outlook of professional forecasters.

America’s top executives are expressing worry about moves that many see as state capitalism and pressure on the Federal Reserve.

The late-night host is in hot water over what he said following the killing of conservative activist Charlie Kirk last week.

Economists for Ukraine has compiled a repository of research papers on topics related to Russia’s war on Ukraine. To submit a paper that’s not on our list, please fill out this form.

Winter is the most challenging time in Ukraine: Russian attacks damage power supply, leaving vulnerable populations in the dark, cold and vulnerable.

To reduce Russia's funding for its Ukraine invasion, Western governments imposed, after a delay, a price ceiling on Russian seaborne oil exports utilizing Western services. To evade that ceiling, Russia developed a "shadow fleet" using no such services. We simulate a calibrated model driven by this fleet's expansion to assess various sanctions. Mainly, sanctions-from a price ceiling to its extreme service ban version-significantly reduce the present value of Russia's profits. However, tighter price caps will not necessarily harm Russia if they raise the world price. Shortening the delay between sanctions announcement and implementation can harm Russia more.