Located in New York City, SCEPA is at the center of a network of leaders dedicated to progressive and innovative education and ideas.
SCEPA faculty are investigating the economics of climate change, from mitigation proposals to implementation.
SCEPA focuses on the U.S. economy, with an awareness of the global context of domestic economic developments.
A research institute within The New School’s Economics Department, SCEPA is dedicated to collaboration between today’s experts and tomorrow’s leading economists.
SCEPA is working to reform a retirement system that is failing Americans.
Our projects are designed to empower policy makers to create positive change. With a focus on collaboration and outreach, we provide original, standards-based research on key policy issues.
SCEPA joined with the Economic Policy Institute on Capitol Hill to brief congressional staff and policy experts on tax expenditures, or incentives given through the tax code without scrutiny by Congress.
SCEPA economists are working on the prospects for a more progressive economic order to emerge from the shock of the recession. They have published papers and documents that place current events in a longer-term context as well as policy proposals to deal with short-term concerns. They are also documenting the emerging discussion of how the discipline of economics is reacting to the Great Recession and the questioning of conventional economic analysis.
Lance Taylor, a SCEPA Faculty Fellow, presents an overview of his new book, Maynard’s Revenge, in a Google Tech Talk.
The book, published this November by Harvard University Press, is a timely analysis of mainstream macroeconomics, posing the need for a more useful and realistic economic analysis that can provide a better understanding of the ongoing global financial and economic crisis.
The government spends $143 billion through tax breaks in an effort to expand pension coverage and security. Yet, over half of the American workforce does not have a pension. Retirement insecurity hurts business plans, workers’ lives and retiree well-being. Reform is needed.
SCEPA’s Guaranteeing Retirement Income Project, sponsored by the Rockefeller Foundation and in collaboration with Demos and the Economic Policy Institute, has a plan to guarantee safe and secure retirement income for all Americans.
SCEPA is excited to announce that Director of SCEPA and Dean of the economics department at The New School, Teresa Ghilarducci's paper, "New Policies for an Older Unemployed Population" has made the top ten download list for the Social Science Research Network, (SSRN) for three different sub categories; Food Stamps and Food Assistance, Medicaid and Rates of Coverage! "New Policies for an Older Unemployed Population" outlines issues facing older unemployed workers, such as living with low incomes and without health insurance for longer periods of time due to increases in the duration of unemployment. This paper recommends expanding and reforming retraining programs to better accommodate the needs of older workers and the creation of tax incentives to encourage employers to hire older workers.
Teresa Ghilarducci and Joelle Saad-Lessler released a new working paper examining the decline in employers offering retirement plans. Workplace retirement plans - defined contribution (DC) and defined benefit (DB) - help workers save for retirement conveniently, consistently, and automatically. However, offer rates are steadily declining: between 2001 and 2012, the retirement plan offer rate dropped from 60% to 50%. The drop is driven by a decline in DC plans. Bargaining power matters, since both the length of time spent unemployed and union status significantly impact the likelihood of losing or retaining employer retirement plan offer rates. Therefore, efforts to increase retirement account offer rates must address the decline in workers' bargaining power and the changes in norms relating to benefits provision.
At 11:00am today, SCEPA Faculty Fellow Rick McGahey will testify before the New York City Council's Civil Service and Labor Committee on the economic effects of expanding paid sick leave. His written testimony on behalf of Int. 0001-2014.
Statement on the Economic Effects of Expanding Paid Sick Leave
Hearing of the Civil Service and Labor Committee
Of the New York City Council
February 14, 2014
Dr. Richard McGahey
Milano School of International Affairs, Management, and Urban Policy
and the Schwartz Center for Economic Policy Research (SCEPA), The New School
My thanks to Chairman Miller and members of the committee and Council for this opportunity to testify. I am here to strongly support legislation expanding paid sick days to New York City workers at firms with five or more employees and to strengthen the law in other ways.
I am a labor economist with a PhD in Economics, currently teaching in The New School's policy program. I have a long history working on labor policy issues, having served as Chief Economist for the U.S. Senate Committee on Labor and Human Resources, and as Economic Policy Advisor to Senator Edward Kennedy (D-MA). In the federal executive branch, I was nominated by President Bill Clinton and confirmed by the Senate as Assistant Secretary for Policy at the U.S. Department of Labor.
My empirical conclusions are based, in part, on written testimony I submitted last year in support of the original legislation.
The legislation under consideration expands New York's historic paid sick days legislation to include workers at businesses with five or more employees and strengthens the law in other important respects. The legislation is unlikely to create any significant negative economic impact, and, in fact, could create positive economic gains for businesses and provide significant benefits to workers. I have four points supporting the legislation: