Mulligan Receives 2018 Musgrave Prize

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Kenneth C. Griffin Department of Economics Professor Casey Mulligan has been named a recipient of this year's Richard A. Musgrave Prize, for his work with Trevor S. Gallen on "Wedges, Labor Market Behavior, and Health Insurance Coverage under the Affordable Care Act." The Musgrave Prize was created in 1999 in honor of economist Richard Musgrave (1910-2007) and is presented annually to the author/s of the best article published in the National Tax Journal. Winners are selected by the journal’s Editorial Advisory Board on "the basis of the degree to which their paper exemplifies the attributes of Musgrave’s work — strong analytical underpinnings, rigorous argument buttressed by solid empirical evidence, respect for the importance of historical and institutional factors, and relevance for public policy."

 

Using New 20th Century Datasets, Akcigit et al. Analyze Effects of Taxation on Innovation, Inventors, and R&D Firms

Understanding how taxation influences innovation is of central importance to create investment incentives for research and development, yet knowledge remains limited due to a lack of data, especially covering a long period of time.

In their recent VOX CEPR column, "Taxation and innovation in the 20th century," Ufuk Akcigit, John Grigsby, Tom Nicholas, and Stefanie Stantcheva use newly constructed datasets from the 20th century to examine the effects of both personal and corporate income taxation on inventors, as well as on firms that do R&D. It finds consistently negative effects of high taxes on innovation over time as well as on individual inventors and firms. Read full story »

Economist Paul Romer, SB’77, PhD’83, Wins Share of Nobel Prize

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On today’s 50th anniversary of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, we are happy to announce the award was given to William D. Nordhaus and Paul M. Romer for their work on climate change and innovation.

I hope the prize today could help everyone see that humans are capable of amazing accomplishments when we set about trying to do something. If we set about trying to make the policy changes that are required here, we can absolutely make substantial progress towards protecting the environment—and do it without giving up the chance to sustain growth.” - Paul Romer [SB’77, PhD’83] quoted from a news conference with the Swedish Academy.

Romer received his Ph.D. from our department in 1983. His dissertation was supervised by Robert E. Lucas, Jr., Charles Kahn, and Jose Scheinkman. He served as an Assistant Professor at University of Rochester from 1982-1988, and then joined our department as Professor of Economics for the period of 1988-1990. Recently, Romer served as Chief Economist of the World Bank from October 2016 through January 2018 while on leave from his current position as Professor of Economics at the Stern School of Business at New York University and Director of the Marron Institute of Urban Management. William D. Nordhaus is currently the Sterling Professor of Economics and School of Forestry and Environmental Studies at Yale University.

Full story at https://news.uchicago.edu/story/economist-paul-romer-sb77-phd83-wins-share-nobel-prize

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