Research note— New research shows that even before the COVID-19 recession, only 36% of workers ages 25-64 were participating in a retirement plan at work, a five percentage point decrease from five years prior.
In a forthcoming book about cities and inequality, SCEPA Senior Fellow Rick McGahey examines how economists think about cities, what they typically leave out, and what this tells us about the future for urban hubs such as New York City.
TIF’s self-financing rhetoric can be used to shift risk onto taxpayers.
This research, "How Risk Undermines TIF's Self-Financing Premise: A Case Study of Hudson Yards," expands the evaluation of TIF by questioning the widespread understanding of TIF as a self-financing tool through analysis of its risks and costs to taxpayers. The authors find that disclosing and assigning project risk is necessary before the project’s public approval to provide a robust cost-benefit analysis to municipalities considering TIF implementation and to ensure taxpayers are fully informed.
Brief— SCEPA’s latest policy note by Senior Fellow William M. Rodgers III, former chief economist at the US Department of Labor, highlights a potential headwind to recovery from COVID-19. His findings show that states which lean or are solidly Republican re-opened sooner than Democratic states, and their testing and infection data are “trending poorly.”
Pandemics are political, social, and health crises. This course examines the economic policy and microeconomics surrounding the economic crisis spurned by the novel-coronavirus. Explore social and economic issues which policy making would need to address in the midst of an unfolding pandemic recession.
Working paper— Workers at all earnings levels would benefit from expanding Social Security. SCEPA proposes defaulting workers into “Catch-Up” contributions, where— starting at age 50— they would contribute an additional 3.1% of their salary. The increase in alternative work arrangements among older workers is due to low wages stemming from older workers' decreased bargaining power.
Brief— Social Security benefits are progressive and reduce the unequal distribution of retirement wealth generated by a broken employer-based retirement systemSocial Security benefits are progressive and reduce the unequal distribution of retirement wealth generated by a broken employer-based retirement system.