um3detroit is an interdisciplinary gathering that brings together U-M's three campuses along with Detroit community partners to share and strengthen our connections to Detroit and each other.
Professor Shujiro URATA examines Japan’s current economic situation and identifies the problems, then he discusses the importance of adopting an activist international economic policy with a focus on its relationship with the United States, in order to overcome the problems and achieve sustained economic growth.
Economic Development Seminar presents Supreet Kaur (UC-Berkeley). Supreet will present "Scabs: The Social Suppression of Labor Supply" in the joint labor/development seminar on Friday, April 6, 1-2:30PM in Lorch 201.
Saumitra Jha, Stanford University will present Swords into Bank Shares: Financial Innovations and Innovators in Mitigating Political Violence in EDS Seminar on Tuesday, April 10 at 2:30pm in 201 Lorch Hall.
U. S. Department of the Treasury, Cash Room
Washington, DC
The U.S. Office of Financial Research and the University of Michigan’s Center on Finance, Law, and Policy will bring together regulators, policymakers, lawyers, economists, financial institutions, investors, financial technology companies, and experts on data science, cybersecurity, and finance.
David Atkin, MIT on A New Engel on the Gains from Trade. Measuring the gains from trade and their distribution is challenging. Recent empirical contributions have addressed this challenge by drawing on rich and newly available sources of microdata to measure changes in household nominal incomes and price indices. While such data have become available for some components of household welfare, and for some locations and periods, they are typically not available for the entire consumption basket. In this paper, we propose and implement an alternative approach that uses rich, but widely available, expenditure survey microdata to estimate theory-consistent changes in income-group specific price indices and welfare. Our approach builds on existing work that uses linear Engel curves and changes in expenditure on income-elastic goods to infer unobserved real incomes. A major shortcoming of this approach is that while based on non-homothetic preferences, the price indices it recovers are homothetic and hence are neither theory consistent nor suitable for distributional analysis when relative prices are changing. To make progress, we show that we can recover changes in income-specific price indices and welfare from horizontal shifts in Engel curves if preferences are quasi-separable (Gorman, 1970; 1976) and we focus on what we term “relative Engel curves”. Our approach is flexible enough to allow for the highly non-linear Engel curves we document in the data, and for non-parametric estimation at each point of the income distribution. We first implement this approach to estimate changes in cost of living and household welfare using Indian microdata. We then revisit the impacts of India’s trade reforms across regions.
The Center on Finance, Law & Policy at the University of Michigan is an interdisciplinary research center which draws together faculty and students from more than a dozen of Michigan’s nineteen schools and colleges to work on a broad range of...
The management of financial resources to achieve public goals pervades every area of public policy, but budgeting and financial management is an area usually left to “experts” who often seem to speak their own language. In today’s...
The management of financial resources to achieve public goals pervades every area of public policy, but budgeting and financial management is an area usually left to “experts” who often seem to speak their own language. In today’s...
This course surveys what we do and don't know about economic growth and poverty alleviation in developing countries. We begin by discussing alternative perspectives on the goals of...
A continuation of PubPol 555 (Microeconomics for Public Policy), this course will deepen students' understanding of key economic concepts and principles and, importantly, apply them to the practice of policy...
This course will provide an overview of recent Japanese economic history and the current state of the Japanese economy. We will consider what economic policymakers around the world can learn from...
This course surveys what we do and don't know about economic growth and poverty alleviation in developing countries. We begin by discussing alternative perspectives on the goals of...
This course examines the policy issues of international trade, including trade in both goods and services and also international flows of direct investment and...
A continuation of PubPol 555 (Microeconomics for Public Policy), this course will deepen students' understanding of key economic concepts and principles and, importantly, apply them to the practice of policy...
