- On Capitol Hill
- On Wall Street
- In the Press
- Policy Reform Work
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.
Willi Semmler, director of SCEPA’s Economics of Climate Change project, presented his research at a workshop organized by the Council on Economic Policies (CEP) and the Bank of England (BoE) on Central Banking, Climate Change, and Environmental Sustainability. The event brought together researchers from academia, central banks, and other institutions to discuss how monetary policy and financial systems can be used to mitigate climate change.
Semmler shared his work modeling mitigation and adaptation policies on climate change. His presentation is based on work with Helmut Maurer from the Institute for Computational and Applied Mathematics at the University of Muenster in Germany and New School students Michael Flaherty, Arkady Gevorkyan and Siavash Radpour.
Mauricio Soto presented a lecture titled, “Best and Worst Global Pension Policies,” as part of the Economics of Aging speaker series. Soto is an economist in the Expenditure Policy Division of the IMF’s Fiscal Affairs Department. His work assesses the fiscal impact of social spending programs and expenditure policy. Before joining the IMF, he was a researcher on Social Security issues at the Center for Retirement Research at Boston College and the Urban Institute.
The Political Economics of Aging speaker series is a forum for academics and practitioners to share and engage in cutting edge research in social policy and the political economy of aging. The series is designed to forge interdisciplinary connections and examine how to progressively manage an aging society. The series is sponsored by SCEPA's Retirement Equity Lab, led by economists and retirement experts Teresa Ghilarducci and Tony Webb.
USA Today reporter Michael Molinski's article, "Don't Be a Retirement Saving Sucker: 401(k)s Not for Emergencies," discusses a report by SCEPA's Retirement Equity Lab (ReLab) titled, "Household Economic Shocks Increase Retirement Wealth Inequality."
Economic shocks, such as job-loss, have a particularly adverse effect on the retirement savings of workers in low-income households, exacerbating retirement savings inequality. Low income households are more likely than moderate- and upper-income households to experience economic shocks. Workers in low-income households are also more likely to withdraw from their retirement account after a shock. ReLab's study shows that these shocks have significant effects on the finances of low-income households, causing up to a third of all withdrawals, and possibly more.
“It is not that low-income households are making the wrong decisions, they just have too many obstacles to overcome,” said Siavash Radpour, a research associate at SCEPA. The policy recommendations of this research include a prohibition on pre-retirement withdrawals and a contribution mandate in the form of Guaranteed Retirement Accounts.