Economics News

Lovely discusses US-China trade deal with Associated Press, NPR

"Just thinking in the short term and locally, the big change of course is that we've had a cease-fire. We're in a truce in the ongoing trade conflict between the US and China," Mary Lovely told NPR. "And that's good news. It's good news for our economy. It's good news for the global economy." Lovely also spoke with the Associated Press about the US-China trade deal.

Lovely speaks to Bloomberg, WSJ, Wash Post about US-China trade deal

The new system "is a gigantic finger in the eye of WTO," Professor Mary Lovely told the Wall Street Journal. "The decider will be the trade representative in consultation with the president." Lovely spoke with Bloomberg, the Wall Street Journal, and the Washington Post about the US-China trade deal. She also spoke to Xinhua about the United States-Mexico-Canada Agreement (USMCA).

Lovely discusses Phase 1 US-China trade deal with AFP, NPR, Reuters

Tariffs that will remain on goods from China after the Phase 1 trade deal are a big problem for the U.S. economy going forward, Professor Mary Lovely told Reuters. "You’re taxing things that our businesses need to be competitive, and yet you’re saying the point of this is to support manufacturing." She spoke with multiple international news outlets about the US-China trade deal.

Dutkowsky, Tobias discuss 2020 election, economy in Seeking Alpha

Don Dutkowsky and Áron Tóbiás were interviewed for the Seeking Alpha blog post "Here’s What The 2020 Election Could Mean For The Economy." "The most important threat, in my view, of another Trump presidency is the unpredictability and uncertainty," says Tóbiás. "You can never know what happens next: what appears on Twitter, or what kind of trade policy is made."

Lovely comments on US-China trade pact in The Guardian

Professor Mary Lovely was interviewed for the Guardian article "Trump vaunts his China trade pact – but some say it’s too little, too late." "There is very little in the agreement that could not be achieved by partnering with allies that were also concerned about the same issues," says Lovely.

Lovely comments on Phase One China trade deal in AP, Washington Post

"It’s a very toxic brew and I don’t know that we’re really going to see much progress on it," says Professor Mary Lovely. She spoke to the Associated Press and the Washington Post about the first phase of a U.S.-China trade agreement.

Lovely quoted in Quartz article on USMCA

"I don’t know what the lesson here is in getting a free trade agreement passed, because president Trump did not," says Professor Mary Lovely. "One way to get a trade agreement passed is just to throw out free trade." Lovely was interviewed for the Quartz article "How the USMCA sets the stage for the future of trade."

Lovely discusses the US-China trade deal with AP, BBC, CNN, PBS, WSJ

"A ceasefire now raises the likelihood that the two sides can find lasting solutions to the problems identified in the US investigation of China's unfair practices related to technology transfer, intellectual property and innovation," writes Professor Mary Lovely. Her article "A trade war ceasefire is just what America's economy needs," was published in CNN Business Perspectives. Lovely also spoke with many major news outlets regarding the trade deal.

Lovely speaks with NY Times, PBS, Wash Post about USMCA trade deal

"It’s not at all clear that there is going to be a positive effect on jobs in the auto industry," Professor Mary Lovely told the New York Times. "This is the hard lesson of economics, which is basically there’s a lot of factors here." Lovely spoke with several media outlets about the United States-Mexico-Canada Agreement (USMCA).

Rothenberg examines impact of BRT on traffic congestion in VoxDev

Many cities around the world suffering from rising traffic congestion are turning to low-cost Bus Rapid Transit (BRT) systems but evidence from a recent study co-authored by Alexander Rothenberg suggests that BRT systems can actually worsen traffic congestion. The paper, "‘Second-best’ Bus Rapid Transit and traffic congestion in developing countries: Lessons from TransJakarta," was published by VoxDev.

Mitra discusses trade liberalization, poverty reduction in India in ET

"View: Despite doubts, there’s enough proof to conclude that foreign trade is good for poor," written by Professor Devashish Mitra, was published in the Economic Times. Mitra explains why trade liberalization in India did not lead to a slower poverty reduction rate.

Yinger cited in Newsday article on real estate steering

Federal, state and local laws bar real estate agents from steering home buyers (guiding purchasers to communities based on race or ethnicity) yet national studies show the practice has grown increasingly common over the past three decades. John Yinger's research on this topic was cited in the Newsday article "Why Agents Steer."

Lovely discusses the trade war, tariffs with Marketplace, PolitiFact

U.S. imports of "intermediate goods" from China, such as motors, pumps, and semiconductors, have seen price increases, harming U.S. producers. "When the price of these inputs go up, U.S. businesses find it harder to compete against non-U.S. competitors, even in the U.S. market," Mary Lovely told PolitiFact. She was also interviewed by Marketplace on the impact of the trade war on U.S. jobs.

Mitra discusses India's decision to opt out of RCEP in Economic Times

In his article published in the Economic Times, Devashish Mitra, Gerald B. and Daphna Cramer Professor of Global Affairs, explains why India needs to re-think it's decision to opt out of the Regional Comprehensive Economic Partnership (RCEP).

Lovely discusses US-China tariff rollback in Associated Press, SCMP

"We can be cautiously optimistic here,” Professor Mary Lovely told the Associated Press. "The signals that are coming out are moving in the right direction for a deal." Lovely discussed the potential for tariff rollbacks with the Associated Press, Foreign Policy, and the South China Morning Post.

Lovely talks to Marketplace about weaknesses in US manufacturing

Mary Lovely says the increasing weakness of both US manufacturing and agriculture is hurting some regions more than others. "We’re seeing the slowdown hit the Midwest, the farm belt," says Lovely. "And a big slowdown in business investment, capital equipment purchases, is hitting states like Pennsylvania and Illinois." Lovely was interviewed for the Marketplace piece "Trade deficit narrows as trade tensions continue to bite."

Rothenberg paper on intergroup contact, integration published in AER

"Unity in Diversity? How Intergroup Contact Can Foster Nation Building," co-authored by Alexander Rothenberg was published in American Economic Review. The authors use a population resettlement program in Indonesia to identify long-run effects of intergroup contact on national integration.

Lovely speaks with BI, NPR, Wash Post about the US-China trade war

"The key issue is how long the trade disruptions between U.S. and China last," Mary Lovely told the Washington Post. "The longer they go on, the more the old networks atrophy and new networks get solidified." Lovely spoke with Business Insider, NPR, and the Washington Post about the latest in the US-China trade war.

Mitra discusses the state of India's economy in Economic Times

"The economy’s temporary problems can easily become more permanent unless both long-term and short-term measures are taken simultaneously," writes Devashish Mitra. "The silver lining here is that crises bring about reforms..." Mitra's article, "India's economic crisis can bring about much needed reforms," was published in the Economic Times.

Lovely discusses impact of Hong Kong protests on trade with Fox News

Mary Lovely says that the protests in Hong Kong haven't affected the US-China trade talks as these are longstanding negotiations. "I think it does change the atmosphere for American businesses and the American public, as well as Chinese businesses and the Chinese public," she says. Lovely was interviewed by Fox Business News and the Globe and Mail.

Lovely interviewed by CBS News on the US-China trade deal

"Even with the enormous emphasis President Trump places on restarting U.S. agricultural exports to China, details about the pace of expected Chinese purchases of $40 billion to $50 billion of American farm products are murky," Mary Lovely told CBS News. "Nothing is on paper yet." She spoke with CBS News and Knowledge@Wharton about the latest in the US-China trade dispute.

Lovely discusses the latest in US-China trade talks with BI, NPR

"Ratcheting up these tariffs is really going to start to disintegrate global supply chains," Professor Mary Lovely told NPR. "For some people who want to see U.S. companies buying nothing in China, that's good news. But we have to remember that every other country in the world will be doing business with China." Lovely spoke with several media outlets about the latest in the US-China trade war.

Zhu weighs in on fossil fuel divestment in Harvard Crimson

Maria Zhu, assistant professor of economics, was interviewed for the Harvard Crimson article "University of California Divestment Decision Offers Insights Into Feasibility of Divestment at Harvard." Zhu says that the University of California’s decision could be "a sign that the tides are shifting" on universities’ economic views of investing in fossil fuels.

Lovely discusses US, China with CNBC, Foreign Policy, Bloomberg, BI

"We'd be lucky to get away with a narrow US-China trade deal," Professor Mary Lovely told CNBC. She also spoke with Bloomberg, Business Insider, Financial Times, and Foreign Policy about the latest in the US-China trade talks and the impact of the impeachment inquiry.

Lovely quoted in Business Insider article on service-sector activity

"We can see that service jobs are put at risk when President Trump launches a trade war," says Professor Mary Lovely. "Many service jobs depend on trade, not just because we export services directly but also because services go into export production." Lovely was interviewed for the Business Insider article "US service-sector growth slows to weakest pace in 3 years as Trump's trade war continues to weigh."

Lovely article on impact of next round of tariffs published by CNN

"The Trump administration strategically backloaded the pain for consumers, but such cherrypicking is no longer possible now that the United States plans to tax almost all US imports from China," writes Professor Mary Lovely. Her article, "Many Americans haven't felt the burden of Trump's tariffs. They're about to," was published by CNN.

Lovely quoted in McClatchy article on impact of USMCA on auto prices

"The effect of the agreement is going to be swamped by whatever happens next with the economy," says Professor Mary Lovely. She was interviewed for the McClatchy DC article "If you are looking to buy a new car, this trade deal could mean higher prices."

Yinger comments on NY property assessments in Syracuse.com article

"New York is all over the place,’" says John Yinger, Trustee Professor of Economics and Public Administration and International Affairs. "It has one of the craziest systems in the country." Yinger was interviewed for the Syracuse.com article "New York state has the ‘craziest’ assessments; Syracuse is average."

Lovely helps debunk Trump's statement on China's economy in PolitiFact

Mary Lovely was interviewed for the PolitiFact article "Trump wrongly claims China is having its ‘worst year in 57 years’." Lovely says China’s economic slump is not particularly shocking to those who track economic growth data. "As an economy develops, growth rates come down," she says. "Over the long term, we have seen China’s average growth rate decline, which is what we would expect."

Maxwell announces new faculty members, department chair

The academic year begins at the Maxwell School with the arrival of twelve new faculty members. In addition, Tom Perreault, professor of geography, is the new chair of the Department of Geography.

Lovely discusses US-China trade war with Business Insider, Marketplace

"Higher taxes on these goods are likely to be highly regressive, in that lower and middle class Americans spend a higher portion of their income on these Chinese imports than do higher income Americans," Mary Lovely told Business Insider. Lovely was also interviewed for the Marketplace segment titled "What the trade war’s really doing." Her interview starts at 4:30.

Lovely discusses the US-China trade war with Insider, Bloomberg

"The basis for uncertainty has expanded over the weekend. We thought it could be that tariffs go from zero to 25 percent, we've now seen it go beyond that," Mary Lovely told Business Insider. "The uncertainty itself is a dead weight on the economy." Lovely spoke with Business Insider and Bloomberg about the latest with the US-China trade war.

Lovely discusses costs of US-China trade war on Knowledge@Wharton

Mary Lovely was interviewed on the Knowledge@Wharton radio show on SiriusXM about the long-term costs of the China-U.S. trade war. "We’re going to see permanently higher prices because the system as a whole will be less efficient," Lovely says. "President Trump’s actions are cementing firms’ view that this is going to go on for a long time."

Lovely discusses impact of Trump's new tariffs in CNN op-ed

"This new bundle of taxes falls heavily on final goods, such as clothing, shoes, household goods and baby products. If the tariffs start on September 1st, as suggested by the president's tweet, shoppers will see the impact immediately, as they begin their back-to-school shopping," writes Mary Lovely. Her op-ed titled "Trump's new tariffs will cause more pain for Americans" was published by CNN.

Lovely quoted in Christian Science Monitor article on recession fears

Mary Lovely was interviewed for the Christian Science Monitor article "Trump has nothing to fear but fear itself. And that’s the problem." Fears of recession are growing, especially in the business community, and the question is whether that uncertainty will spread to consumers. "We won’t see that until we start to see a real slowdown in hiring," says Lovely.

Lovely weighs in on slowdown of China's economic growth in AP

Mary Lovely was interviewed for the Associated Press article "China’s growth cools further as tariff war pressures mount." "President Trump is probably happy that he’s starting to tank the Chinese economy," Lovely says. "But it’s a case of ‘be careful what you wish for.’"

Lovely comments on widening US-China trade gap on NPR

Mary Lovely was interviewed on NPR's All Things Considered for the segment titled "Data Shows U.S. Trade Gap With China Widened During Month Of June." "I think whatever jobs are created by President Trump's war on global supply chains are going to be dwarfed by losses in the U.S. export sectors," says Lovely.

Lovely discusses possible outcomes of Trump-Xi meeting on Bloomberg

Mary Lovely was interviewed on Bloomberg's Surveillance podcast about the possible outcomes of the forthcoming meeting between President Trump and President Xi. "We're looking at politics here so he [President Trump] may be looking for some gigantic sign that he has won, that he as somehow brought the Chinese to the table in a way that no one else could," says Lovely.

Lovely comments on multilateral trade, G20 summit in Japan Times

The U.S. shift away from multilateralism may continue beyond the Trump presidency, says Professor Mary Lovely. It isn’t clear how much support there is within the Democratic Party for a return to multilateralism and a support for free trade. Lovely was interviewed for the Japan Times article "Can the G20 summit pave a path for the future of multilateral trade?"

Batalgi publishes study on successful exporting, foreign ownership

"Contagious exporting and foreign ownership: Evidence from firms in Shanghai using a Bayesian spatial bivariate probit model," co-authored by Badi Baltagi, was published in Regional Science and Urban Economics. The authors illustrate at the micro level that exporting and foreign ownership decisions are affected by the decisions of other firms in a certain geographical neighborhood.

Lovely discusses impact of Trump's tariff threats in TIME

Mary Lovely was featured in the TIME article "As Trump Suspends New Tariffs on Mexico, Experts Warn That His Threats Could Damage the U.S. Economy." "The sad part is we’ve had this incredible expansion," says Lovely. "We had the chance to bring some people back into the workforce who had really been hurt under the recession."

Mitra article on India's job data published in Bloomberg Quint

"The Dark Clouds Of India’s Jobs Data, With One Silver Lining," written by Devashish Mitra, professor of economics and Gerald B. and Daphna Cramer Professor of Global Affairs, was published in Bloomberg | Quint. Mitra examines the results and implications of India's recent Periodic Labour Force Survey.

Mitra discusses India's economic future in Economic Times

"Re-formed for reforms," written by Devashish Mitra, was published in the Economic Times. According to Mitra, "the real challenge now for the prime minister and his colleagues is job creation and expansion of the manufacturing sector." But, says Mitra, "labour regulations limit the attractiveness of India’s manufacturing sector as a destination for foreign capital."

Lovely discusses trade war, tariffs on Mexico with AFP, Bloomberg, NYT

"This is really going to hurt American businesses who use Mexico to reduce their costs and stay competitive," Mary Lovely told Bloomberg after President Trump announced that all products from Mexico will be hit with 25 percent tariffs. Lovely spoke with Agence France-Presse, Bloomberg, and the New York Times about the latest on Trump's tariffs on Mexico and China.

Lovely weighs in on redirecting production away from China in CSM

Already production of shoes, apparel, toys, and other "footloose" industries has been shifting from China to Vietnam and other countries, partly due to rising wages in China, says Mary Lovely. She was interviewed for the Christian Science Monitor article "Trade war roils US, China, but it means jobs for rest of Asia."

Mitra discusses challenges facing India's prime minister in NY Times

Devashish Mitra says that job creation has been slow in India compared with the growth in the workforce, labor reforms have made halting progress and difficulties in acquiring land have hindered growth in manufacturing and construction of infrastructure. Mitra was quoted in the New York Times article "India's Modi Facing Urgent Economic Challenges After Win."

Lovely explains how the trade war hurts Americans in CNN article

"By now, it is likely no surprise to American families that tariffs raise the cost of living," writes Mary Lovely. "Walmart said last week that new import duties would lead to higher prices on a wide variety of consumer goods newly targeted by the latest promised round of tariffs." Lovely's article "The US-China trade war hurts American families" was published by CNN.

Lovely speaks with AP, NPR, NY Times about the US-China trade war

"It looks like there was a level of specificity that China wasn’t willing to accept and a level of ambiguity that the Trump administration wasn’t willing to accept," Mary Lovely told the New York Times. Lovely spoke to several media outlets about the latest in the US-China trade war.

Yinger's expertise in residential discrimination cited in The Atlantic

John Yinger was interviewed for The Atlantic article "An Oral History of Trump’s Bigotry." Yinger commented on the Justice Department’s 1973 lawsuit against Trump Management Company that focused on 39 properties in New York City. At the time, Yinger served as an expert witness in a number of fair-housing cases.

Lovely discusses US-China trade war with ABC News, Marketplace, WSJ

"I think that if President Trump goes through and raises these tariffs and then China retaliates, there will be a lot more pain and no gain," Professor Mary Lovely told ABC News. She was interviewed by several media outlets regarding the latest in the US-China trade war.

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