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Can Industrial Policy Help Revive Struggling Regions?

A new paper co-authored by Yale SOM’s Cameron LaPoint looks at an effort in 1980s Japan to narrow economic inequalities between geographic regions, in order to understand the potential impact of the similar U.S. CHIPS and Science Act, enacted in 2022.

President Joe Biden with a quantum computer during a tour of an IBM facility in Poughkeepsie, New York, in 2022.
  • Will the Fed Keep Raising Rates?

    We asked Prof. William English, a former Fed official, to interpret the announcements at the Federal Open Market Committee’s monthly meeting last week.

    Federal Reserve Board chairman Jerome Powell answering questions at a news conference.
  • Can the Inflation Reduction Act Bring Down Drug Prices?

    We asked Prof. Fiona Scott Morton, an expert on competition in the healthcare industry, whether the new legislation will make a difference—and what it will take to get drug prices under control.

    An elderly customer at a pharmacy window
  • Do Homebuyers’ Expectations Align with Reality?

    People’s predictions of long-term home price growth were wildly optimistic in the early 2000s but have become more cautious since the Great Recession, according to a study co-authored by Robert Shiller of Yale SOM.

    People viewing a home for sale
  • Why Making Banking Data Portable Isn’t Always Good for Borrowers

    In theory, rules requiring banks to share consumer data with third parties increase competition and help consumers. In practice, it’s not so simple, according to a new study co-authored by Yale SOM’s Jidong Zhou.

    An illustration of banks connected with cables
  • The Rise of the Mutual Fund Is Reducing Corporate Competition and Hurting Consumers

    Mutual funds have become large shareholders in most public U.S. firms. The resulting overlaps in ownership are boosting corporate profits but harming consumers, according to a new study co-authored by Florian Ederer of Yale SOM.

    A balloon tethered to the ground with sandbags labeled with the names of mutual fund companies
  • Real-Time Placement Odds Can Smooth the School Choice Process

    Some families going through the school placement process overestimate their chances of getting into their top choices, and fail to match at any school as a result. Warnings about the placement odds at top schools can dramatically reduce non-placements.

    Kindergarteners lined up on the first day of school
  • Multinationals Can Have a Positive Local Impact—If They Face Enough Competition for Labor

    The United Fruit Company had a reputation for manipulating governments and exploiting workers in Latin America. But Yale SOM’s Diana Van Patten found that in some areas, competition for workers led it to invest in local infrastructure, with long-lasting positive impacts.

    Bananas being loaded onto the United Fruit Company's Northern Railway in Costa Rica, circa 1915.
  • Competition from China Contributed to Decline in Union Organizing

    New research co-authored by Yale SOM Dean Kerwin K. Charles shows that the rise in imports from China at the beginning of this century accelerated a long decline in union elections, by diminishing the benefits of unionization and increasing the risk.

    A rally supporting unionization for Amazon workers in Bessemer, Alabama, in February 2022.
  • The Unexpected Impacts of Innovation

    Prof. Judith Chevalier’s research has unraveled implicit incentives driving risk taking by mutual fund managers, the ways online reviews shift business strategy and consumer decisions, and the consequences of nursing home workers’ movement between facilities in spreading COVID-19.

    Judith Chevalier teaching
  • The Digital Tool That Helps Robert Shiller Understand the Past

    We asked the Nobel Prize-winning Yale economist to reflect on an unexpected source of research information and inspiration. He writes that Google Ngram Viewer can provide important insights about how people saw economic events as they unfolded.

    A nineteenth-century poster advertising land sales in Iowa and Nebraska