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25 minutes | Nov 30, 2022
Economic Warfare: Are Russian Sanctions Working?
Ten months into a devastating war, the Russian and Ukrainian economies are struggling yet resilient. Russian-born economist Konstantin Sonin joins The Pie to provide an update on the economic impacts of the ongoing conflict, including the massive long-term toll not yet captured in available data.
23 minutes | Nov 15, 2022
Fighting Inflation: Is the Fed’s Work Just Beginning?
The Federal Reserve’s latest 75 basis point rate hike brought interest rates up again on everything from mortgages to car loans and credit cards. Will it be enough to halt inflation? How is the Fed thinking about the US economy, unemployment, and its global impact? University of Chicago economist Anil Kashyap joins to discuss the campaign to bring inflation down and mounting pressure on the central bank.
17 minutes | Nov 1, 2022
Tax vs Ban: The Unexpected Results on Gun Sales
In this episode, we’re talking about guns. Chicago Booth economist Brad Shapiro has quantified—for the first time—American consumer demand for guns, and how that demand shifts in response to different regulations, including bans and taxes. He was surprised by some of the findings, which offer new and important insights for ongoing gun policy debates.
16 minutes | Oct 18, 2022
COVID and Schools: Elementary Lessons
Did closing schools during the COVID-19 pandemic serve students and society at-large? As part of a World Bank Advisory Panel, University of Chicago economist Rachel Glennerster is taking a closer look at the long-term economic cost of learning losses. Addressing these costs, estimated at greater than $10 trillion, will be crucial to future education policy and pandemic response.
22 minutes | Oct 4, 2022
WFH… Gone Global
The remote work revolution is now more than two years old, and it’s a worldwide phenomenon, at least in wealthier countries. Economist Steve Davis has been studying the staying power of work from home around the globe, and finds that not only is it here to stay, but it’s prompting larger societal questions about everything from worker power to the viability of urban city centers.
3 minutes | Sep 27, 2022
We're Back with More of The Pie
Last season, we were at the height of the COVID-19 crisis, effecting every aspect of our lives and the economy. So this season, we're back looking at the aftermath of the global pandemic and beyond — talking with economists from the University of Chicago about their cutting-edge research on the issues of today. Join us every other week for season two of The Pie, beginning Tuesday, October 4.
23 minutes | Mar 30, 2022
How Does Access to Safe Water Affect Child Mortality?
A new meta-analysis by Michael Kremer and co-authors suggests water treatment could reduce child mortality by about 30% in low- and middle-income countries, making it a highly cost-effective treatment for saving lives. Kremer joined his co-author Stephen Luby to discuss some of their findings in an event hosted by the Development Innovation Lab and the Center for Global Development. For more information on the research, visit dil.uchicago.edu.
37 minutes | Dec 2, 2021
Global Warming, Local Impact: The Economic Landscape of Climate Change
Which economies will suffer most from global warming, and by just how much? Will others see benefits? The differences are key to understanding how the global economy will look in the coming years. Esteban Rossi-Hansberg and co-authors are using a dynamic economic assessment model to answer these questions in detail, for the first time. He presented his research as part of the Becker Friedman Institute’s Friedman Forum Series for students.
39 minutes | Oct 21, 2021
Can Monetary Policy Solve Inflation and Unemployment?
Inflation has spiked, even while the economy still recovers. What can the Fed do? It’s one of the biggest and most rapidly evolving questions facing macroeconomists today. In this Extra Slice of The Pie, Chicago Booth’s Christina Patterson provides a crash course in how monetary policy works and what economists have learned by studying it empirically.
35 minutes | Aug 5, 2021
Nudge: The Final Edition Book Talk with Richard Thaler
How can a small nudge make a big impact? Since publishing the first edition of Nudge more than 10 years ago, Cass Sunstein and Richard Thaler have changed the way businesses and governments design rules and regulations to influence people’s behavior and decision making. Tess Vigeland sat down with Thaler to discuss new material covered in Nudge: The Final Edition, including COVID-19, healthcare, retirement savings, credit card debt, home mortgages, organ donation, climate change, and even “sludge.”
25 minutes | Jul 1, 2021
Economics of Courage
Economists and policymakers alike rely on the “value of a statistical life” to make important trade-offs. What are the merits of such a calculation? Can it be improved? Economists Michael Greenstone and Kyle Greenberg join to discuss groundbreaking research examining army reenlistment choices to show how US soldiers, in effect, price the risk of certain career options.
27 minutes | Jun 17, 2021
Vaccine Lotteries: Worth a Shot?
More than a dozen states have announced large lotteries to incentivize vaccinations. On this episode, Steve Levitt and Jeff Severts examine the economics and likely outcomes of the policy strategy. Is this a lottery where everyone wins big? When it comes to cash prizes, does magnitude matter?
28 minutes | Jun 3, 2021
Pay Now or Pay Later
With the rise in federal spending over the last several years, there are questions on how the US will pay those bills. Chicago Booth economists Austan Goolsbee and Eric Zwick demystify which rate changes actually impact revenue and expose how economists think about infrastructure spending. Delving into the details on capital gains taxes, they discuss strategies to close loopholes and, ultimately, increase total revenues.
31 minutes | May 20, 2021
College Sports: Show Me The Money
Division I schools make billions off athletic programs, with close to two-thirds coming from men’s basketball and football alone. Economist Matt Matt Notowidigdo has calculated that due to NCAA restrictions, only 7% of those revenues are paid to student athletes, with important distributional consequences. He joins this week with sports attorney Michael McCann to discuss the economic dynamics, who benefits most, and what is at stake in future court cases over this controversial issue.
21 minutes | May 6, 2021
Discrimination is Expensive
Preventing people from entering careers where they could maximize their potential places massive costs on society, and economists can measure the real impact. Chang-Tai Hsieh and Erik Hurst have discovered that declining barriers to careers for women and Black men over the last 50 years accounts for 25-40% of all productivity growth in the US. They join to discuss the implications of their critical findings.
25 minutes | Apr 22, 2021
Are Carbon Offsets Bogus?
Some of the world’s largest companies (and biggest emitters of CO2) boast big investments in carbon offset programs to reduce their reported carbon footprint. Do these programs work ? If so, for whom? Michael Greenstone and Barbara Haya join to take a close look at proposed solutions to reducing on carbon emissions.
25 minutes | Apr 8, 2021
The pandemic forced many Americans into a mass social experiment: working from home (WFH). Now, economists like Steve Davis are measuring the immediate and long-term impact of this massive shift. Davis and Kate Lister join this week to help us explore how time away from the office will change life — for workers, employers, and our cities.
26 minutes | Mar 25, 2021
Incentives and the Race to Vaccinate
With COVID-19 variants proliferating, administering vaccines as quickly as possible is a key policy priority. How can we ensure every level of the healthcare system pulls out all the stops in that pursuit? Joshua Gottlieb and David Pitrak join to discuss the urgent answers from their specialties of economics and medicine.
25 minutes | Mar 12, 2021
Is the Future Cashless?
When COVID lockdowns started a year ago, the use of cash plummeted. But the pandemic only accelerated a trend already underway. As we begin to emerge from global pandemic, is a fully cashless world on the horizon? Who benefits from using cash? Fernando Alvarez and Raghuram Rajan share research insights on the economic effects of banning – and introducing – cash in today’s markets.
21 minutes | Feb 25, 2021
The Surprising Results of Pandemic Unemployment Benefits
In March 2020, the CARES Act expanded who was eligible for unemployment benefits, how much they could collect and for how long. Economists are now finding patterns in job searches and spending during this enormous expansion that seem to counter common economic assumptions. Peter Ganong and Fiona Greig join to discuss the surprising effects they uncovered in the data.
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