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Crowd of Black Lives Matters demonstrators marching in the street.
Feature: The Democratic Necessity of Reckoning

Erica Chenoweth reviews scholarship that overwhelmingly shows the Black Lives Matter movement generated high levels of public awareness about systemic racism and increased support for criminal justice reform.

Electronic stock ticker board with numbers and arabic letters.
Feature: Against Rule-of-Thumb Economics

Dani Rodrik argues against neoliberalism’s universal rule-of-thumb approach and for economic analyses grounded in contextual dependencies.

Several hands of team members covering one another in a huddle above a work table.
Feature: Leaders’ Psychological Bravery

Dana Born explores what skills leaders need to cultivate psychological safety on their teams and across their organizations.

Dollars and Euros piled on top of one another.
Feature: Dollar vs. Euro as International Reserve Currencies

Jeffrey Frankel explores the strengths and weaknesses of using the Dollar and the Euro as international reserve currencies.

Harvard Kennedy School faculty disseminate their research in working publications and papers that contribute to public knowledge and fuel policy innovation. This list features recent faculty publications, including journal articles, books, edited volumes, research papers, and public testimony.

Faculty Publications

Debt Distress on China's Belt and Road

Horn, Sebastian, Bradley C. Parks, Carmen M. Reinhart, and Christoph Trebesch. "Debt Distress on China's Belt and Road." AEA Papers and Proceedings 113 (May 2023): 131-34.

Why Did (Almost) No One See the Inflation Coming?

Furman, Jason. "Why Did (Almost) No One See the Inflation Coming?" Intereconomics 57 (2022): 79-86.

Comparison of toll and annuity PPPs: a case study of highway projects in India

Mangu, Samhita, Thillai Rajan Annamalai, and Akash Deep. "Comparison of toll and annuity PPPs: a case study of highway projects in India." Built Environment Project and Asset Management 11.1 (February 2021): 103-120.

La depresión de la pandemia: la economía mundial nunca volverá a ser la misma

Reinhart, Carmen, and Vincent Reinhart. "La depresión de la pandemia: la economía mundial nunca volverá a ser la misma." Foreign affairs: Latinoamérica 21.1 (January 2021): 106-114.

The Crisis Opportunity: What It Will Take to Build Back a Better Economy

Furman, Jason. "The Crisis Opportunity: What It Will Take to Build Back a Better Economy." Foreign Affairs 100.1 (January/February 2021): 25-35.

National Fiscal Policies to Fight Recessions in US States

Dynan, Karen, and Douglas Elmendorf. "National Fiscal Policies to Fight Recessions in US States." AEA Papers and Proceedings 110 (May 2020): 131-136.

The Crisis Next Time: What We Should Have Learned from 2008

Reinhart, Carmen, and Vincent Reinhart. "The Crisis Next Time: What We Should Have Learned from 2008." Foreign Affairs 97.6 (November/December 2018): 84-97.

Alma-Ata at 40 Years: Reflections from the Lancet Commission on Investing in Health

Watkins, David A., Gavin Yamey, Marco Schäferhoff, Olusoji Adeyi, George Alleyne, Ala Alwan, Seth Berkley et al. "Alma-Ata at 40 Years: Reflections from the Lancet Commission on Investing in Health." The Lancet 392.10156 (October 2018): 1434-1460.

Secular Stagnation and Macroeconomic Policy

Summers, Lawrence H. "Secular Stagnation and Macroeconomic Policy." IMF Economic Review 66.2 (June 2018): 226–250.

Taxes for Health: Evidence Clears the Air

Summers, Lawrence H. "Taxes for Health: Evidence Clears the Air." The Lancet 391.10134 (May 2018): 1974-1976.

The Permanent Effects of Fiscal Consolidations

Fatas, Antonio, and Lawrence H. Summers. "The Permanent Effects of Fiscal Consolidations." Journal of International Economics 112 (May 2018): 238-250.

Capital Controls: Myth and Reality

Magud, Nicolas E., Carmen M. Reinhart, and Kenneth S. Rogof. "Capital Controls: Myth and Reality." Annals of Economics and Finance 19.1 (May 2018): 1-47.

Macroeconomic Effects of the 2017 Tax Reform

Barro, Robert J., and Jason Furman. "Macroeconomic Effects of the 2017 Tax Reform." Brookings Papers on Economic Activity (Spring 2018).

Measuring Individual Economic Well-Being and Social Welfare within the Framework of the System of National Accounts

Jorgenson, Dale W., and Paul Schreyer. "Measuring Individual Economic Well-Being and Social Welfare within the Framework of the System of National Accounts." Review of Income and Wealth 63.s2 (December 2017).

Consumer Bankruptcy and Financial Health

Dobbie, Will, Paul Goldsmith-Pinkham, and Crystal Yang. "Consumer Bankruptcy and Financial Health." Review of Economics and Statistics 99.5 (2017): 853-869.

How Lawyers Can Help Macroeconomists in the Wake of Three Major Challenges

Furman, Jason. "How Lawyers Can Help Macroeconomists in the Wake of Three Major Challenges." Yale Journal on Regulation 34 (Fall 2017).

What Is the Potential Growth Rate of the U.S. Economy, and How Might Policy Affect It?

Furman, Jason. "What Is the Potential Growth Rate of the U.S. Economy, and How Might Policy Affect It?" Business Economics 52.3 (July 2017): 158-167.

Does Front-Loading Taxation Increase Savings? Evidence from Roth 401(k) Introductions

Madrian, Brigitte. "Does Front-Loading Taxation Increase Savings? Evidence from Roth 401(k) Introductions." Journal of Public Economics 151 (July 2017): 84-95.

Does Front-Loading Taxation Increase Savings? Evidence from Roth 401(K) Introductions

Beshears, John, James J. Choi, David Laibson, and Brigitte C. Madrian. "Does Front-Loading Taxation Increase Savings? Evidence from Roth 401(K) Introductions." Journal of Public Economics 151 (July 2017): 84-95.

Federal Policy and Economic Growth

Elmendorf, Douglas. "Federal Policy and Economic Growth." Business Economics 52.3 (July 2017): 149–153.

Federal Budget Policy with an Aging Population and Persistently Low Interest Rates

Elmendorf, Douglas, and Louise M. Sheiner. "Federal Budget Policy with an Aging Population and Persistently Low Interest Rates." Journal of Economic Perspectives 31.3 (Summer 2017).

Niveau d'Accès et Investissement dans les Réseaux de Télécommunications

Dogan, Pinar, Marc Bourreau, and Romain Lestage. "Niveau d'Accès et Investissement dans les Réseaux de Télécommunications." Revue Économique 67.HS1 (2016).

Federal Budget Policy with an Aging Population and Persistently Low Interest Rates

Elmendorf, Douglas W., and Louise Sheiner. "Federal Budget Policy with an Aging Population and Persistently Low Interest Rates." Hutchins Center Working Papers (October 2016).

Secular Stagnation and Monetary Policy

Summers, Lawrence H. "Secular Stagnation and Monetary Policy." Review 98.2 (2nd Quarter 2016): 93-110.

Global Cycles: Capital Flows, Commodities, and Sovereign Defaults, 1815–2015

Reinhart, Carmen M., Vincent Reinhart, Christoph Trebesch. "Global Cycles: Capital Flows, Commodities, and Sovereign Defaults, 1815–2015." The American Economic Review 106.5 (May 2016): 574-580.

Tax Farming Redux: Experimental Evidence on Performance Pay for Tax Collectors

Khan, Adnan Q., Asim Ijaz Khwaja, and Benjamin Olken. "Tax Farming Redux: Experimental Evidence on Performance Pay for Tax Collectors." Quarterly Journal of Economics 131.1 (February 2016).

Sovereign Debt Relief and Its Aftermath

Reinhart, Carmen M., and Christoph Trebesch. "Sovereign Debt Relief and Its Aftermath." Journal of the European Economic Association 14.1 (February 2016): 215-251.

How Much Donor Financing for Health is Channeled to Global Versus Country-Specific Aid Functions?

Schäferhoff, Marco, Sara Fewer, Jessica Kraus, Emil Richter, Lawrence H. Summers, Jesper Sundewall, Gavin Yamey, and Dean T. Jamison. "How Much Donor Financing for Health is Channeled to Global Versus Country-Specific Aid Functions?" Lancet 386.10011 (December 2015): 2436-2441.

Electricity Markets and the Clean Power Plan

Hogan, William W. "Electricity Markets and the Clean Power Plan." Electricity Journal 28.9 (November 2015): 9-32.

Designing Federal Budget Policy to Spur Economic Growth

Elmendorf, Douglas. "Designing Federal Budget Policy to Spur Economic Growth." The Brookings Institution (October 13, 2015).

Dynamic Scoring: Why and How to Include Macroeconomic Effects in Budget Estimates for Legislative Proposals

Elmendorf, Douglas. "Dynamic Scoring: Why and How to Include Macroeconomic Effects in Budget Estimates for Legislative Proposals." Brookings Papers on Economic Activity (September 2015).

Dealing with Debt

Reinhart, Carmen, and Kenneth Rogoff. "Dealing with Debt." Journal of International Economics 96 (July 2015): S43-S55.

Financial Crises, Development, and Growth: A Long-term Perspective

Reinhart, Carmen M, and Vincent R. Reinhart. "Financial Crises, Development, and Growth: A Long-term Perspective." World Bank Economic Review (April 2015).

Capital Mobility and Monetary Policy: An Overview

Fuentes, Miguel D., Claudio Raddatz, and Carmen M. Reinhart. "Capital Mobility and Monetary Policy: An Overview." Journal Economía Chilena 18.1 (April 2015): 50-67.

The Liquidation of Government Debt

Reinhart, Carmen M., and M. Belen Sbrancia. "The Liquidation of Government Debt." Economic Policy 30.82 (March 2015): 291-333.

China Is Not Yet Number One

Frankel, Jeffrey A. "China Is Not Yet Number One." Frontiers of Economics in China 10.1 (March 2015): 1-6.

The Investment Returns of Nonprofit Organizations: Part 1, Tales from 990 Forms

Heutel, Garth, and Richard Zeckhauser. "The Investment Returns of Nonprofit Organizations: Part 1, Tales from 990 Forms." Nonprofit Management and Leadership 25.19 (Fall 2014): 41-57.

The Investment Returns of Nonprofit Organizations: Part II, The Value of Focused Attention

Heutel, Garth, and Richard Zeckhauser. "The Investment Returns of Nonprofit Organizations: Part II, The Value of Focused Attention." Nonprofit Management and Leadership 25.19 (Fall 2014): 59-75.

Capital Inflows, Exchange Rate Flexibility and Credit Booms

Magud, Nicolas E., Carmen M. Reinhart, and Esteban R. Vesperoni. "Capital Inflows, Exchange Rate Flexibility and Credit Booms." Review of Development Economics 18.3 (August 2014): 415-430.

Recovery from Financial Crises: Evidence from 100 Episodes

Reinhart, Carmen M., and Kenneth S. Rogoff. "Recovery from Financial Crises: Evidence from 100 Episodes." American Economic Review 104.5 (May 2014): 50-55.

Addicted to Dollars

Reinhart, Carmen, and Ken Rogoff. "Addicted to Dollars." Annals of Economics and Finance 15.1 (May 2014): 1-52.

Informal Taxation

Olken, Benjamin A., and Monica Singhal. "Informal Taxation." American Economic Journal: Applied Economics 3.4 (October 2011): 1-28.

Fuel Tax Incidence and Supply Conditions

Marion, Justin, and Erich Muehlegger. "Fuel Tax Incidence and Supply Conditions." Journal of Public Economics 95.9-10 (October 2011): 1202-1212.

$100 Bills on the Sidewalk: Violations of No-Arbitrage in 401(k) Accounts

Choi, James J., David Laibson, and Brigitte Madrian. "$100 Bills on the Sidewalk: Violations of No-Arbitrage in 401(k) Accounts." The Review of Economics and Statistics 93.3 (August 2011): 748-763.

Making Financial Markets Work For Consumers

Campbell, John Y., Howell E. Jackson, Brigitte C. Madrian, and Peter Tufano. "Making Financial Markets Work For Consumers." Harvard Business Review (July-August 2011).

Over-optimism in Forecasts by Official Budget Agencies and its Implications

Frankel, Jeffrey A. "Over-optimism in Forecasts by Official Budget Agencies and its Implications." Oxford Review of Economic Policy 27.4 (Winter 2011): 536-562.

Consumer Financial Protection

Campbell, John Y., Howell E. Jackson, Brigitte C. Madrian, and Peter Tufano. "Consumer Financial Protection." Journal of Economic Perspectives 25.1 (January 2011): 91–114.

Bias-Corrected Matching Estimators for Average Treatment Effects

Abadie, Alberto, and Guido Imbens. "Bias-Corrected Matching Estimators for Average Treatment Effects." Journal of Business and Economic Statistics 29.1 (January 2011): 1-11.

Tax Incentives for Affordable Housing: The Low Income Housing Tax Credit

Desai, Mihir, Dhammika Dharmapala, and Monica Singhal. "Tax Incentives for Affordable Housing: The Low Income Housing Tax Credit." Tax Policy and the Economy 24.1 (2010): 181-205.

A Perplexed Economist Confronts 'Too Big to Fail'

Scherer, F.M. "A Perplexed Economist Confronts 'Too Big to Fail'." European Journal of Comparative Economics 7.2 (December 2010): 267-284.