This week’s IGM Economic Experts Panel statements:
a) Replacing the current US health insurance system (including employer-based health insurance, ACA exchange policies, and Medicaid) with universal ‘Medicare for All’ (mandatory enrollment in a modified version of the existing traditional Medicare program with drug coverage and no cost-sharing of any form, and current Medicare reimbursement rates) funded by federal taxes would lead to improved access to healthcare for a meaningful subset of the population.
b) Replacing the current US health insurance system as outlined in a) would lead to longer waiting times for healthcare for a meaningful subset of the population.
Keyword: social welfare
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bailouts balance sheet balanced budget bank failures bank finance Bank of England bank regulation bank runs banking banking crises banking rules banking sector banking union bankruptcy banks bans behavioral economics behavioral finance benefits betting Big Tech Bitcoin board quotas bonds bonuses book market border adjustment tax borrowing and lending Brexit budget deficits budget scoring bundling bureaucracy business cycles buy American
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early years earnings Eastern Europe economic agents economic geography economic growth economic history economic insecurity economic integration economic performance economic performance; electoral cycles; government policy; political economy; public policy; voters economic principles economic recovery economic reseach economic stimulus Economics 101 economists education educational quality efficiency efficient markets elections electoral cycles electric vehicles emerging markets empirical economics employees employment employment contracts employment effects employment protection end-of-day trading energy energy policy environmental regulation equal pay equities equity equity injections equity risk premium ESG ESMA essential goods ethanol EU budget euro euro exit Europe European Central Bank European champions European Commission European recovery fund European Union Europen Union Eurozone ex-ante regulation exchange rate adjustment exchange rates exchange-traded products executive compensation expectations experiments export restrictions exports externalities extreme weather
Facebook faculty pay fairness family size Fannie Mae fast-track authority FDIC federal regulations Federal Reserve fee caps fee transparency fees fiduciary duty financial crises financial crisis financial markets financial performance financial policy financial regulation financial regulations bank runs financial services financial stability finished good prices firm capabilities firm finances firm location first past the post fiscal benefits fiscal cliff fiscal councils fiscal deficit fiscal deficits fiscal policy fiscal rules fiscal stimulus fiscal sustainability floods food prices food security forecasting foreign aid foreign direct investment fossil fuels fracking France Freddie Mac free markets free movement free trade full capacity fund performance fundamental value fungibility
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hard drugs health insurance health outcomes healthcare costs healthcare quality healthcare reform hedge funds high-skill workers high-skilled workers higher education hihg-debt countries holidays household finances household welfare households housing markets human capital hurricanes
ideas illegal activities immigrant visas immigration import duties import restrictions imports impossibility theorem incentives income inequality income support income tax increasing returns to scale incumbents index funds indexing industrial polic industrial policy inequality inflation inflation target inflation-indexed bonds inflation-linked bonds information infrastructure innovation input prices inside information Instagram institutions insurance intellectual property interest rates intergenerational mobility intermediate goods intermediation international agreements international monetary system internet internet: profits investment investment grade investment management investment policy investment portfolio investment returns invisible hand Ireland Italy
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macroeconomic stability macroprudential policy Maine majority rule mandated disclosures manufacturing marginal tax rates marijuana mark to market market anomalies market cap market concentration market dominance market efficiency market indices market intervention market microstructure market power market quality market volatility maturity transformation maximum sustainable employment Medicaid medical debt medical research Medicare medium of exchange mega-banks mergers mergers & acquisitions mergers and acquisitions Mexico Microsoft migration minimum retirement age minimum wage minimum wage|labor market|low-skill workers|unemployment|productivity||||| mismeasurement mobility Modern Monetary Theory monetary policy money creation money market funds monopsony power moral hazard mortality mortgages museums music events mutual funds
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OASI trust fund obesity occupational choice occupational licensing offshore accounts offshoring oil prices Omicron online sales online sales tax open economies order execution output gap outsourcing overheating
panics passive investing patent trolls patents payday lending payroll taxes peer review Pell grants pension funds pensions personal finance pharmaceutical industry physical infrastructure physical risks platforms policy advice policy entrepreneurs political appointments political economy pollution populism portfolio allocation portfolio diversification portfolio management portfolio theory Portugal poverty poverty reduction pre-school education prescription drugs President Biden President Obama President Trump price cap price caps price controls price gouging primary voting private credit private equity private firms private funds private schools privatization product quality production production capacity productivity professional sports teams profitability profits prohibition property rights property taxes protectionism psychology public corporations public debt public finances public goods public health public investment public ownership public policy public procurement public revenues public schools public transport public utilities publishers purchasing power
R&D R&D spillovers race radiospectrum random audits randomized control trials ranked-choice voting rationality real estate real wages recession recovery redemptions redistribution referendum refugees regressive tax regulation regulations remuneration renewable energy renminbi rent control rent-seeking repatriated profits reserve currency resilience resource allocation retail retail investors retirees retirement retirement age retirement benefits return on investment returns returns to education ride-sharing ride-sharing caps risk management risk-return risk-taking robots rule of law rules runs Russia
safety sales tax San Francisco sanctions savings school students school vouchers schools Science Scotland Scottish independence SEC secondary markets Section 230 sectoral policies security screening self-control semiconductors services shareholder activism shareholder value shareholders shares shipping short selling single market skills slavery small firms smartphones soccer social benefits social cohesion social costs social integration social justice social media social mobility social norms social problems social programs Social Security social welfare social/public housing sociial welfare soft drinks software industry solar energy sovereign bonds sovereign debt sovereign wealth funds soverign bonds Spain speculation sports Stability and Growth Pact stablecoins stagflation stakeholders standardized tests start-ups state aid state budgets statistics steel steel industry steel tariffs sterling stock buybacks stock market stock prices stock returns store of value strategic behavior strategic sectors stress tests student loans students subsidies sugar sugar tax Supplemental Nutrition Assistance Program supply chain supply chains Supreme Court surge pricing sustainability systemic risk
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Uber UK Ukraine uncertainty undergraduate economics unemployment unemployment insurance uninsured deposits unions universal basic income universities urban development urban neighborhoods US states US Steel US Treasuries
This week’s IGM Economic Experts Panel statement:
Taking into account the revenues, consumer surplus, purchasing patterns by income, and possible consumer biases, state-run lotteries (such as Powerball and scratch-off games) increase social welfare.
This week's IGM Economic Experts Panel Statement:
It is best for society if the management of U.S. publicly traded corporations only considers the impact of their decisions on customers, employees, and community members to the extent that these impacts feedback to impact shareholder wealth.
This week's IGM European Economic Experts Panel Statement(s):
A) To the extent that public corporations pursue social and environmental initiatives, they tend to achieve higher risk-adjusted (private) returns than otherwise similar corporations that pursue such initiatives less.
B) To the extent that Norway’s global government pension fund makes investments for social and environmental objectives — apart from investments that would bring the highest expected risk-adjusted returns — it improves the welfare of Norwegians.
This week's European Economic Experts Panel statement:
People who migrated to Europe between 2015 and 2018 are likely — over the next two decades — to contribute more in taxes paid than they receive in benefits and public services.
This week's IGM Economic Experts Panel Statement:
All things considered, US society will be better off if sports betting becomes legal in more US states (beyond Nevada).
This week's IGM European Economic Experts Panel Statements:
A) Trade with China makes most Europeans better off because, among other advantages, they can buy goods that are made or assembled more cheaply in China.
B) Some Europeans who work in the production of competing goods, such as clothing and furniture, are made worse off by trade with China.
C) If the EU followed the new US steel tariffs by imposing similar EU tariffs on steel from China, it would improve Europeans’ welfare.
This week's IGM Economic Experts Panel Statement:
Imposing new US tariffs on steel and aluminum will improve Americans’ welfare.
This week's IGM Economic Experts Panel statement:
Because of the many special and unique roles that the dollar plays in global commerce, US citizens are substantially better off than they otherwise would be.
This week’s IGM Economic Experts Panel statements:
A) Holding labor market institutions and job training fixed, rising use of robots and artificial intelligence is likely to increase substantially the number of workers in advanced countries who are unemployed for long periods.
B) Rising use of robots and artificial intelligence in advanced countries is likely to create benefits large enough that they could be used to compensate those workers who are substantially negatively affected for their lost wages.
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