Policy Topics

Economics and finance

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News

Barr: Dodd-Frank strong foundation, more financial reforms needed post-pandemic

Jun 26, 2020

Political and policy leaders will examine the impact one decade later of the Dodd-Frank Act, the legislation that aimed to reform Wall Street and protect consumers in the wake of the Great Recession. The Federal Reserve’s latest stress tests, one of...

In the Media

Dominguez shares insight on big bank stress testing under Fed supervision

Jun 25, 2020 NPR Marketplace

Stress testing is "a very time-consuming process because you’ve got to figure out how every single asset and liability is likely to be affected by this scenario,” said Kathryn Dominguez. Read or listen to the full segment on NPR...

Kathryn Dominguez speaks to prospective students at the Ford School's Spring Preview

CLOSUP finds Michigan local government leaders report widespread crisis-level impacts from COVID-19 pandemic

Jun 24, 2020

Leaders across Michigan have reported problems supporting their communities in the first months of the COVID-19 pandemic—with many saying they failed to get needed health or financial help in one of the hardest-hit states, according to a survey by...

Deardorff fact-checks President Trump on USMCA trade deal

Jun 22, 2020

A June 19 CNN story looked at recent public statements made by President Trump regarding the US-Mexico-Canada Agreement known as USMCA, among other issues. Ford School economics professor Alan Deardorff commented on Trump’s claim that “USMCA is...

Four Ford School students honored with Institute for Social Research Next Generation Awards

Jun 17, 2020

Ford School students were honored by the University of Michigan Institute for Social Research’s (ISR) Next Generation Awards. The donor-funded awards propel recipients forward in their careers and catalyze impactful research projects. ISR says...

Burgard says calculating benefits of a lockdown is “ethically complex.”

Jun 12, 2020

An article written by Agence France Press June 12 and distributed to publications around the world states that “lockdowns undoubtedly prevented large numbers of deaths from the new coronavirus, [yet] the repercussions of the pandemic response are...

Stevenson and Wolfers explain COVID-19 economic and financial turmoil

Jun 12, 2020

Last week’s surprising employment report, stock market recovery and loss, a statement from the Fed chair and a search for context marked the week ending June 12. Ford School economists Betsey Stevenson and Justin Wolfers were called upon by the...

News

As COVID-19 Fiscal Strategy and Resource Guides expand, Ford School research centers launch a new program to support local governments and nonprofits

Jun 11, 2020

The guides have been helping local governments through the impacts COVID-19 will have on budgets and operations. The new COVID-19 Consulting Corps will provide individualized research and data support. Ann Arbor, MI, June 11, 2020 – The...

Was the drop in unemployment predictable? It depends who you ask...

Jun 5, 2020

An article in Vox.com on June 5, reacting to the surprising drop in the unemplyment rate, quoted Ford School economists Betsey Stevenson and Justin Wolfers : "Betsey Stevenson, the former chief economist at the US Department of Labor and a...

Stevenson says “pandemic could scar a generation of working mothers”

Jun 3, 2020

An article in The New York Times June 3, noted that as the pandemic upends work and home life, women have carried an outsized share of the burden, are more likely to lose a job and more likely to shoulder the load of closed schools and day care....

Wolfers says coronavirus-led economic recession reveals gaps in U.S. safety net

Jun 1, 2020

Against the backdrop of the severe U.S. economic downturn caused by the coronavirus, Ford School economics professor Justin Wolfers told ABC News Australia May 31 that the country was ill-prepared to provide a safety net for its citizens. The...

Harris sees changing role for fintech companies in response to COVID-19 economic crisis

May 29, 2020

Since its inception, the fintech industry has seen consistent change and evolution. An article on Finovate published May 28, says the past few months have seen even more rapid change in this “extraordinary time”. In the article, Adrienne Harris Ford...

Business can balance PPP loan forgiveness and worker benefits

May 29, 2020

Ford School public policy and economics professor Betsey Stevenson sees a way for business owners who got a forgivable federal loan to avoid the choice between getting a loan discharged or allowing workers to collect enhanced unemployment...

News

More than 4 in 10 Detroiters have lost jobs during pandemic

May 26, 2020

DETROIT—Forty-three percent of Detroiters who were working before the COVID-19 pandemic have since lost their jobs, either on a temporary or permanent basis, according to a new University of Michigan survey. The latest rapid-response COVID-19...

State & Hill

Spotlights – Spring 2020 State & Hill

May 22, 2020

All hands on deck Ford School faculty and research centers have been actively involved with the policy response to the COVID-19 pandemic. Luke Shaefer is advising the state on how to reduce the impact on low-income families. Michael Barr, Betsey...

State & Hill

Discourse: Faculty in the news from the Spring 2020 issue of State & Hill

May 22, 2020

“The government needs to make sure the hardest-hit families have enough income to keep food on their tables...in a rapidly unfolding crisis, the type of aid that’s offered may matter at least as much as the quantity.” Betsey Stevenson and Justin...

Ford School Policy Talk: Hope for economic recovery tied to health success

May 22, 2020

The U.S. and global economy will only recover when major improvements in healthcare and the ability to combat the coronavirus take hold. The crisis has exacerbated inequality along racial, ethnic and economic lines. This recession is unlike any...

Toward a more fair and inclusive financial system

May 22, 2020

New FinTech collaborations boost Ford School’s financial policy offerings The Ford School is expanding its offerings of financial policy courses with FinTech (financial technology) Policy and FinTech Entrepreneurship classes. Taught by professor...

News

Congratulations, Catherine and Joshua Hausman, both now associate professors, with tenure

May 21, 2020

It’s a great week in the Hausman household, with news that both professor Catherine Hausman and professor Joshua Hausman will receive promotions to associate professors of public policy, with tenure, at the Ford School. “Both Catie and Josh are...

Photo of Joshua and Catherine Hausman in Weill Hall's 2nd floor hallway

Michigan's unemployed struggle to access state system

May 20, 2020

Kristin Seefeldt, associate professor of social work and public policy and faculty by courtesy at the Ford School, says Michigan’s unemployment system was never set up to handle severe drops in unemployment. In an article on Mlive May 15, she was...

Wolfers puts public health at the center of economic recovery

May 15, 2020

The current method for calculating Gross Domestic Product is missing “the immense value of the sacrifices being made by millions of people who have stayed at home to stop the spread of the coronavirus,” Ford School economics professor Justin Wolfers...

Parsing the unemployment statistics, Stevenson finds reason for optimism even amidst a higher-than-reported rate

May 15, 2020

The rate of unemployment was recently recorded as 14.7%. Ford School economist Betsey Stevenson, who was Chief Economist of the U.S. Department of Labor 2010-2011, says the real rate is actually higher. In a tweet quoted in an article in Forbes May...

In the Media

Dominguez on the post-COVID economy

May 12, 2020 NPR Marketplace

Ford School professor of public policy and economics Kathryn Dominguez tells NPR's Marketplace that consumer goods consumption may well change in the post-COVID economy, making current measures of inflation less relevant. “There will be lots of...

Trump’s focus on economic recovery a risky political calculation for election, says Hanson

May 12, 2020

President Donald Trump’s reelection campaign would be taking a risk by focusing on what was once his hallmark issue: a booming economy. In a recent BBC Brasil article, Ford School professor Jonathan Hanson evaluated the changing political climate...

Ford School alum supports efforts to tackle COVID-19 in developing Asia

May 12, 2020

In mid-April, the Asian Development Bank (ADB) announced an enormous $20 billion aid package to help Asian and Pacific developing countries address the negative economic and social impacts of COVID-19. ADB’s point person in North America, Ford...

News

COVID-19 Fiscal Strategy and Resource Guides for Local Governments produced by CLOSUP and partners

May 11, 2020

The COVID-19 crisis is having a dramatic impact on Michigan's local governments, and the fiscal implications — including emergency spending, revenue losses, and budget cuts — are already being felt. The Center for Local, State, and Urban Policy...

News

TANF left out of coronavirus relief efforts

May 8, 2020

Temporary Assistance For Needy Families, or TANF, was created as part of the 1996 Welfare Reform bill as a way to give cash assistance to those most vulnerable. Yet at a time when millions of Americans are in dire need of cash assistance, the...

Luke Shaefer delivers a talk at the Ford School

Healthcare sector takes a hit amidst the broader economic downturn

May 1, 2020

The news released on April 30 that the U.S. economy had shrunk 4.8 percent in the first quarter of 2020 confirmed that the country is poised to experience a deep recession. The analyses of Ford School economists Betsey Stevenson and Justin Wolfers...

News

Detroit Metro Area Communities Study on COVID-19 draws national attention

Apr 28, 2020

A rapid-response Detroit Metro Area Communities Study (DMACS) survey found that 1 in 5 Detroiters will run out of money due to the COVID-19 crisis within the next three months. The DMACS survey asked wide-ranging questions from economic, social,...

Wolfers challenges U.S. business who seek immunity from coronavirus lawsuits

Apr 27, 2020

In a recent article published in Quartz, “U.S. businesses are seeking immunity from coronavirus lawsuits,” Ford School professor, Justin Wolfers, pushes back on calls by U.S. businesses for COVID-19 related immunity from liability. As some states...