Economics News

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.

Commencement Speaker Mary C. Daly G’94 bloomed at Syracuse University

"You have to bloom where you’re planted, and bloom every day. Wherever you start from, find a way to live your best life," Betsy Bane told Mary C. Daly. Four decades after receiving that advice — and after earning a GED, bachelor’s and master’s degrees, and a PhD in economics from the Maxwell School — Daly is returning to the place she says launched her career as a respected economist.

Lovely discusses US-China trade, tariffs on Bloomberg, CGTN

Mary Lovely discussed the latest in the US-China trade war and the impact of tariffs on various jobs sectors with Bloomberg and China Global Television Network. "It’ll hit the pocketbooks of the working class hard," Lovely told Bloomberg about Trump's recent trade-war threat to increase tariffs.

Dutkowsky discusses latest jobs report on TD Ameritrade Network

"It's just about all good," says Donald Dutkowsky, professor of economics, about the recently released jobs report. Dutkowsky was interviewed on the TD Ameritrade Network for the segment on the positive April jobs report.

US and China resume trade talks, Lovely comments in Associated Press

"The two bullies in the room are basically running the show. The rest of the world is going to have to deal with the aftermath," says Mary Lovely. She was interviewed for the Associated Press article "Deal or no deal? US and Chinese sides resume trade talks."

Rosenthal cited in NY Times article on neighborhood racial change

Stuart Rosenthal was cited in the New York Times article "The Neighborhood Is Mostly Black. The Home Buyers Are Mostly White." Rosenthal argues that it’s often possible to predict a neighborhood’s income level 20 years into the future by the age of its housing stock today.

Perry Singleton publishes study on OSHA inspections, worker safety

"The Effect of Workplace Inspections on Worker Safety," co-authored by Perry Singleton and Ling Li '18 PhD (Econ), was published in the ILR Review. The authors estimate the effect of inspections on worker safety by exploiting a feature of OSHA’s Site-Specific Targeting plan and find that effects are most evident in manufacturing and less evident in health services.

Mitra discusses Indian redistributive programs in Economic Times

"No economist providing policy prescriptions can ignore the political constraint of the inevitability of redistribution to the bottom 20-30 per cent," writes Devashish Mitra. "Therefore, an important task before any policy economist is to suggest the most efficient form of this redistribution." Mitra's article, "View: Biometric authentication, exclusion restrictions can ensure effective cash transfer system in India," was published in the Economic Times.

Lovely testifies before US-China Commission on US corps in China

On February 28, 2019, Professor Mary Lovely testified before the U.S.-China Commission on the "Risks, Rewards, and Results: U.S. Companies in China and Chinese Companies in the United States." "While we often see multinationals as the chief villains in the rapid decline of U.S. manufacturing employment, they remain an important source of U.S. manufacturing jobs," Lovely told the Commission.

Mitra analyzes India's minimum income proposal in the Indian Express

In his article titled "A minimum framework," Devashish Mitra, professor of economics and Gerald B. and Daphna Cramer Professor of Global Affairs, examines India's proposed NYAY (Nyuntam Aay Yojana) scheme. The scheme is described as a poverty alleviation program and is the most recent iteration of a Minimum Income Guarantee.

Lovely discusses President Xi Jinping's visit to France on Bloomberg

Mary Lovely spoke with Bloomberg about Chinese President Xi Jinping's visit to France. According to Lovely, China's leadership is "looking for friends everywhere." And with France being an important player in Europe, "they're looking to continue to diversify their portfolio in terms of where they do business and how they do business," she says.

Lovely weighs in on discrimination in the field of economics in BI

Mary Lovely was interviewed for the Business Insider article "Thousands of female economists say they've been sexually assaulted or discriminated against by colleagues." "Many men believe they themselves are not part of the problem, yet they continue to organize sessions without any women authors or discussants," says Lovely.

Mitra reviews effects of opening trade on developing Asia in ADBI blog

Devashish Mitra examines the impact of trade on labor-demand elasticities, the bargaining power of workers, and wage inequality on countries in developing Asia. His article, "The impact of trade opening on developing Asia: Evidence and policy implications," was published in Asian Pathways, the blog of the Asian Development Bank Institute (ADBI).

Wasylenko quoted in WalletHub article on state/local tax policy

Michael Wasylenko was featured in the WalletHub article "2019 Tax Rates by State." Wasylenko says "taxes play some role in people’s choices of where to live, but the role that taxes play varies by age group and education level. Highly skilled, highly educated workers find the best job matches in East and West coast cities" he says. These cities are typically located in high tax states.

Wasylenko quoted in Syracuse.com article on splitting NY State

Michael Wasylenko was interviewed for the Syracuse.com article "5 reasons why splitting New York would be a disaster for Upstate." "New York City is doing best and pulling the whole state along," says Wasylenko. "It’s doing better than the United States as a whole, by far. Upstate is not at a point where it could sustain itself."

Lovely weighs in on Trump's trade deal with China in Politico

Mary Lovely was interviewed for the Politico article "Trump’s allies push him to resist a quick China deal." China is now being pressured to accept a deal in which they would not retaliate to any tariff punishment by the US. "It clearly veers into a loss of sovereignty for the Chinese and could be rejected on this ground," says Lovely.

Mitra paper on land reform enactments published in JDE

"The political economy of land reform enactments: New cross-national evidence (1900–2010)," co-authored by Devashish Mitra, was published in the Journal of Development Economics (JDE). The authors constructed a unique and extensive annual dataset that codifies 372 major land reform enactments across 165 countries during the period 1900–2010.

Lovely speaks with AP, Washington Post about Trump's tariffs

"It is dawning on them that the tariffs might not come off," Mary Lovely told the Washington Post. She was interviewed for the article "Fearing Trump’s China tariffs may never end, companies are taking action." Lovely also spoke with the Associated Press about the potential for President Trump to impose tariffs on imported cars.

Lovely provides an economic history of tariffs on Marketplace

Mary Lovely was interviewed on Marketplace for the segment "How well do you know your economic history." "The economy has changed a lot since 1888 and in particular, when we think about who bears the burden of tariffs, we have to recognize the development of very complex supply chains for American companies," she says.

Lovely weighs in on renewed US-China trade talks in WSJ

According to Mary Lovely, who was interviewed for the Wall Street Journal article "As China Trade Talks Begin, Trump Faces Pressure to Make a Deal," failure to reach a [trade] deal carries a risk not only for Mr. Trump, but for the Republican Party. "More tariffs and failure to get a deal will ultimately seem to people like further failure of the government," she says.

Singleton cited in Psychology Today article on marriage, happiness

A 2012 study by Perry Singleton, associate professor of economics, was cited in the Psychology Today article "Are Married People Happier? Questions Answered." Singleton found that the onset of a work-preventing disability correlates with an increased likelihood of divorce.

Lovely quoted in Christian Science Monitor article on US-China trade

"Both sides are finding out that trade wars are painful," says Mary Lovely in the Christian Science Monitor article "US-China trade: How dose of reality is pushing both sides to deal." "The Chinese economy is slowing…. Foreign investment into the US is down, and there is concern about domestic investment moving forward."

Lovely discusses economy, trade war with Bloomberg, NPR, Wash Post

Mary Lovely recently spoke with Bloomberg, NPR, and the Washington Post about the U.S. economy and the trade dispute between the U.S. and China.

Economics alum Mary Daly’s policy goals aim for widespread prosperity

“Monetary policy is the tool kit we have for a strong, healthy and sustainable economy,” says Maxwell alumna Mary Daly ’91 MPhil (Econ)/’94 PhD (Econ), president and CEO of the Federal Reserve Bank of San Francisco. Daly explains the economic benefits of investing in each other in this PBS interview, "San Francisco Fed Chief Mary Daly on the 'virtuous cycle' of economics."

Wasylenko cited in GlobeSt.com article on economic development

Michael Wasylenko recently spoke at the Citizens Budget Commission conference on economic issues facing New York state. His remarks were featured in the GlobeSt.com article "Pointers for Successful State Economic Development Programs." According to Wasylenko, economic development programs require sustained support with horizons of 20 years.

Lovely comments on impact of US-China dispute on the World Bank in FT

"It’s not going to put any of these banks in a good place to have these two big countries duking it out in the midst of their lending programmes," Mary Lovely told the Financial Times. "They may be forced to choose." Lovely was interviewed for the article "US warns of Chinese influence at multilateral lenders."

Lovely weighs in on China's trade surplus with US in Business Insider

Mary Lovely was interviewed for the Business Insider article "'You can't tariff your way out out of a trade deficit': Here's why China's exports to the US have held up in the face of Trump's trade war." According to Lovely, the decline in imports subject to tariffs could also be due to a slowdown in frontloading, or companies rushing orders to avoid duties.

Baltagi awarded 2018 Kuwait Prize in Economics by KFAS

Badi Baltagi, Distinguished Professor of Economics, was awarded the 2018 Kuwait Prize in Economics and Social Sciences (Economy) by the Kuwait Foundation for the Advancement of Sciences (KFAS). The Kuwait Prize recognizes Arab scientists across the globe who have made outstanding lifetime contributions in their research fields.

Lovely weighs in on Trump's trade war tactics in The Atlantic

Mary Lovely was quoted in The Atlantic article "Does Trump Even Understand How Tariffs Work?" Lovely argues that Trump’s trade actions "are a prime example of 20th century tools aimed at the knowledge-embodying trade flows of the 21st century."

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