US Economic Experts Panel

The Clark Center for Global Markets explores economists’ views on vital policy issues via our US and European Economic Experts Panels. We regularly poll over 80 economists on a range of timely and relevant topics. Panelists not only have the opportunity to respond to a poll’s statements, but an opportunity to comment and provide additional resources, if they wish. The Clark Center then shares the results with the public in a straightforward and concise format.

Please note that from September 2022, the language in our polls will use just two modifiers to refer to the size of an effect:

‘Substantial’: when an effect is large enough that it would make a difference that matters for the behavior involved.
‘Measurable’: when the direction of the effect is clear, but perhaps experts would differ as to whether it is substantial.

Prescription Drugs

Question A:

Allowing Medicare to negotiate prices with pharmaceutical companies will lead to a substantial reduction in the costs of prescription drugs for US retirees.

Responses

13%

67%

20%

Source: Clark Center Economic Experts Panel
Methodology

Question B:

Allowing imports of medicines from Canada will lead to a substantial reduction in the costs of prescription drugs for US consumers without compromising safety.

Responses

13%

20%

52%

Source: Clark Center Economic Experts Panel
Methodology

Healthcare & Wellbeing

March 13, 2024

Congestion Pricing in New York

Question A:

A tolling program for New York City is out for public consultation with proposed charges on vehicles entering the central business district of Manhattan summarized here: https://new.mta.info/document/129191

The proposed tolls on vehicles entering the central business district of Manhattan are likely to lead to a substantial reduction in traffic congestion in the targeted area.

Responses

61%

24%

Source: Clark Center Economic Experts Panel
Methodology

Question B:

The proposed tolls on vehicles entering Manhattan are likely to lead to a substantial increase in traffic congestion just outside the central business district, above 60th Street, in the outer boroughs and New Jersey.

Responses

17%

63%

Source: Clark Center Economic Experts Panel
Methodology

Investment, Infrastructure, & Cities

February 27, 2024

Economic Sanctions and Aid

This US survey examines (a) The economic and financial sanctions against Russia are substantially limiting its ability to wage war on Ukraine; (b) In the absence of continuing flows of Western economic aid, Ukraine's wartime economy will be substantially compromised

Business Cycles, Recessions, & Crises

February 7, 2024

US Steel

This US survey examines (a) Nippon Steel’s proposed acquisition of US Steel would lead to substantially less employment in the US steel industry than in the absence of such a deal; (b) Nippon Steel’s proposed acquisition of US Steel would cause no measurable damage to the American economy

Business, Management, & Corporate Performance

January 17, 2024

Argentina

This US survey examines a) The fundamental cause of Argentina’s high inflation is unfunded fiscal commitments that are being financed by the central bank; (b) Even if Argentina could marshal the resources to make a full switch to using US dollars for domestic transactions, it would substantially increase the volatility of Argentine GDP

Monetary Policy, Interest Rates, & Inflation

December 6, 2023

The Tax Cuts and Jobs Act (TCJA) of 2017

This US survey examines (a) US GDP is substantially higher now as a result of the passage of the TCJA than it would have been had the TCJA not been passed, and all else was equal; (b) Corporate capital stock is substantially higher now as a result of the passage of the TCJA than it would have been had the TCJA not been passed, and all else was equal; (c) Real median wages are substantially higher now as a result of the passage of the TCJA than they would have been had the TCJA not been passed, and all else was equal; (d) Federal tax revenues are substantially lower now as a result of the passage of the TCJA than they would have been had the TCJA not been passed, and all else was equal; (e) Charitable donations are substantially lower now as a result of the passage of the TCJA than they would have been had the TCJA not been passed, and all else was equal.

Economic Growth, Development, & Productivity

November 20, 2023

Land Value Tax

Shifting the burden of municipal property taxes towards land and away from improvements such as buildings - as proposed in the Detroit land value tax plan - will enhance the incentives for owners to develop their land and thereby give a substantial boost to local economic growth over a ten-year horizon.

Clark Center Economic Experts Panel

November 2, 2023

Women and the Labor Market

This US survey examines (a) By enabling women’s life choices about education, work and family, the contraceptive pill made a substantial contribution to closing gender gaps in the labor market for professionals; (b) Gender gaps in today’s labor market arise less from differences in educational and occupational choices than from the differential career impact of parenthood and social norms around men's and women’s roles in childrearing; (c) The gender gap in pay would be substantially reduced if firms had fewer incentives to offer disproportionate rewards to individuals who work long and/or inflexible hours

Demographics, Aging, & Gender

October 18, 2023

Responses To Market Power

This US survey examines (a) Constraints on the anti-competitive behavior of dominant firms in the digital economy can in principle be effectively implemented using the existing tools of competition policy and antitrust enforcement; (b) The effectiveness of existing antitrust regimes in constraining anti-competitive behavior is substantially limited by the inadequacy of the resources available to competition and regulatory agencies relative to the dominant firms of the digital economy; (c) Constraints on the anti-competitive behavior of dominant firms in the digital economy would be more effectively implemented than at present with ex-ante regulation such as Europe's Digital Markets Act and other forms of public utility regulation. Details on Digital Markets Act here: https://digital-markets-act.ec.europa.eu/index_en

Regulation, Competition, & Market Power

September 29, 2023

Subsidizing Green Technology

This US survey examines (a) Government subsidies for investment in green technologies are justified by substantial benefits coming from reducing unpriced carbon emissions and generating positive R&D spillovers; (b) Using subsidies for green technologies instead of full carbon prices will lead to substantially more rent-seeking and hence substantially higher costs to achieve a given reduction in emissions

Environment, Climate Change, & Natural Resources

September 29, 2023