Announcements

SGE election results, June 2021

Thursday, July 8th, 2021

The Election Committee is pleased to announce the results of the 2021 SGE elections. Many thanks to outgoing Board members Susan Fleck (President), Misty Heggeness (Secretary), and Young Jo.  The newly elected members will join continuing Board members Gray Kimbrough and Leo Sveikauskas.
The President and Vice President have one-year terms. Board members have two-year terms, except for the Executive Director who has a four-year term.

Board positionNewly elected
PresidentSabrina Pabilonia
Vice-PresidentCristina Miller
Executive SecretaryDanielle Sandler
TreasurerSusan Xu
Outreach Director & Event PlannerWendy C.Y. Li
Membership DirectorWenhua Di
Executive DirectorBrian Sloboda
Website DirectorPeter B. Meyer
At-Large Board MemberBreno Braga
At-Large Board MemberErick Sager
At-Large Board MemberScott Wentland

April 30th at noon

Tuesday, April 27th, 2021

Land and Trade – Two Views

Friday Virtual Seminar Series
April 30, 2021
12 noon to 1:30 pm
ET

This seminar is free.  Pre-registration is required. Register in advance at this Zoom link. Maximum capacity is 100 participants.

This session features two papers, both of which explore novel approaches in their corresponding fields.  The first paper investigates historical problems in Indian land ownership, including the ownership structure, and explores application of the public goods theory to the case of Indian owners monitoring the Bureau of Indian Affairs in its assistance with land lease negotiations.  The second paper examines existing methods of estimating nondiscriminatory non-tariff measures (NTM) and proposes a measure to aggregate nondiscriminatory trade costs and decompose the estimated trade costs into individual components.  It provides an approach to identify and remove non-cost factors that erroneously contributed to the aggregate cost estimates, and it estimates the effects of specific NTMs trade costs using available data. 

ChairSusan Xu (International Trade Administration)

Monitoring of Bureaucracy as a Public Good – A Case Study of the Bureau of Indian Affairs
Olga Shanks (George Mason University) and Thomas Stratmann (George Mason University)

A Pragmatic Approach to Estimating Nondiscriminatory Non-Tariff Trade Costs
Peter R. Herman (U.S. International Trade Commission)

DiscussantsPatrice Kunesh (Native American Rights Fund and Former Director, Center for Indian Country Development, Federal Reserve Bank of Minneapolis); Maksim Belenkiy (International Trade Administration)

April 16th at noon

Thursday, April 8th, 2021

Housing Markets and Policy

Friday Virtual Seminar Series
April 16, 2021
12 noon to 1:45 pm
ET

This seminar is free.  Pre-registration is required. Register in advance at this Zoom link. Maximum capacity is 100 participants.

This session features three papers on the timely topic of housing, a sector of the economy that is once again garnering attention in the news and continues to inspire interesting academic research. The first paper examines the housing market’s rent response to changes in supply, drawing evidence from a recent sizable expansion to Washington DC’s apartment housing stock. Also using data from the DC market, the second paper investigates whether “green buildings” (with LEED certification) garner a rental premium, consistent with potential savings on utilities and operating expenses. The third paper exploits variation in housing tax policy to explore how education and earnings outcomes later in life are affected by growing up in Low-Income Housing Tax Credit (LIHTC) housing.

ChairScott Wentland (US Bureau of Economic Analysis)

The Impact of an Increasing Housing Supply on Housing Prices: The Case of the District of Columbia, 2000-2018
Bethel L. Cole-Smith (Howard University) and Daniel Muhammad (Government of DC)

The Effect of Green-Building Certification on Housing Rental Prices in the District of Columbia
Nyanya Browne (Howard University) and Daniel Muhammad (Government of DC)

Does Growing Up in Tax-subsidized Housing Lead to Higher Earnings and Educational Attainment?
Elena C. Derby (Joint Committee on Taxation)

DiscussantsJustin Contat (Federal Housing Finance Agency); Abdul Munisib (US Bureau of Economic Analysis); Jeremy Moulton (UNC-Chapel Hill)

Webinar: Economic Growth During Covid-19 Vaccine Rollout

Friday, March 26th, 2021

Wednesday, April 7, 2021, 5:00 p.m. – 6:30 p.m

This seminar is free.  Pre-registration is required. Register in advance at this zoom link. Maximum capacity is 100 participants.

Panelists:

Dr. Jeff Werling, Director of Macroeconomic Analysis, Congressional Budget Office

Dr. Wendy Edelberg, Director, The Hamilton Project, Brookings Institution

During the year from March 2020 until March 2021 over thirty million cases and 540 thousand deaths occurred in the United States from the covid-19 pandemic and 122 million cases and 2,690 deaths occurred worldwide. It was the worst health crisis since the influenza pandemic of 1918.

The economic devastation has been severe. Total U.S. nonfarm employment fell by 20.5 million to the low point in April 2020. The COVID-19 pandemic could result in net losses in the range of $3.2 trillion to $4.8 trillion in U.S. real gross domestic product (GDP) over the course of two years, according to estimates from a new University of Southern California study. 

Vaccines for Covid-19 give hope that the world can return to normal. Moderna and Pfizer-BioNTech developed mRNA vaccines. Johnson & Johnson, the third vaccine in the U.S., was approved for emergency use in February 2021.

Our panelists will present perspectives on these issues, followed by Q&A and discussion.

Dr. Jeff Werling is Director of Macroeconomic Analysis at the Congressional Budget Office. Prior to that position Dr. Werling was President of the Interindustry Economic Research Fund Inc.  Werling received a Ph.D. in Economics at the University of Maryland in 1992.

Dr. Wendy Edelberg is Director of the Hamilton Project at the Brooking Institution and Senior Fellow in Economic Studies.  Prior to that appointment Dr. Edelberg was Chief Economist at the Congressional Budget Office. Edelberg received a Ph.D. in economics from the University of Chicago.

Webinar: Economic Growth During Covid-19 Vaccine Rollout

March 12th at noon

Sunday, March 7th, 2021

Consumption and Living Standards

Friday Virtual Seminar Series
March 12, 2021
12 noon to 1:15 pm
ET

This seminar is free.  Pre-registration is required. Register in advance at this Zoom link. Maximum capacity is 100 participants.

This session features two research papers on consumption and living standards. The first paper examines how living standards vary across the U.S. and discusses how each state’s welfare has evolved overtime. The second paper looks at the impact of oil booms on income inequality in the U.S. It examines both oil price variation and quantity booms from oil discoveries and discusses measures of state-level income inequality.

ChairMisty L. Heggeness (US Census Bureau)

A Comparison of Living Standards Across the United States of America
Elena Falcettoni  (Board of Governors of the Federal Reserve System) and Vegard M. Nygaard (University of Houston)

Natural Resources and Inequality: Evidence from the United States
Loujaina Abdelwahed (Cooper Union) and Richard Campbell (University of Illinois at Chicago)

DiscussantsThesia Garner (Bureau of Labor Statistics); Kalee Burns (US Census Bureau)

Feb 26th at noon

Thursday, February 18th, 2021

Economic Measurement: Prices, Productivity, and the Unemployment Rate

Friday Virtual Seminar Series
February 26, 2021
12 noon to 1:45 pm
ET

This seminar is free.  Pre-registration is required. Register in advance at this Zoom link. Maximum capacity is 100 participants.

This session features three research papers on economic measurement. The first paper re-estimates historical PPIs using the geometric Young formula at the elementary level and finds the overall index is lower by 0.55 percentage points per year.  The second paper introduces the production accounts used to measure U.S. agricultural productivity (1948-2017), addresses some recent major changes, discusses some findings on sources of growth, and talks about ongoing research projects that aim to further improve the quality of US agricultural productivity measures.  The third paper assembles several historical estimates of the unemployment rate and discusses the role these private-sector estimates played in the development of official unemployment and labor force statistics.

ChairSabrina Wulff Pabilonia (Bureau of Labor Statistics)

An Alternative Formula for Elementary Producer Price Indexes
Jonathan C. WeinhagenRobert S. Martin, and William M. Thompson (Bureau of Labor Statistics)

U.S. Agricultural Productivity: Measurement and Sources of Growth (1948-2017)
Sun Ling Wang, Roberto Mosheim, Richard Nehring, and Eric Njuki (USDA-ERS)

Private Sector Estimates of Unemployment Rate and the Development of the Labor Force Concept Gabriel Mathy (American University)

DiscussantsDennis Fixler (Bureau of Economic Analysis); Corby Garner (Bureau of Labor Statistics); Peter Meyer (Bureau of Labor Statistics)

February 5th noon seminar

Sunday, January 31st, 2021

Macro and Banking

Friday Virtual Seminar Series

Friday February 5, 2021

12:00 p.m. to 1:45 p.m.

This seminar is free.  Pre-registration is required. Register in advance at this Zoom link. Maximum capacity is 100 participants.

This session features two research papers on how information informs risk estimates and policies. The first one examines the trade-offs between target fund levels and insurer insolvency risk faced by deposit insurer. The authors develop a model and estimate the sizable gap between an optimal target fund level for the FDIC (as an example) and the official FDIC target fund. The paper also explores funding strategies to achieve alternative target fund levels.  The second paper uses a new approach to estimate and decompose the weight forecasters place on past predictions in expectation formation process. Forecasters put a weight on past predictions and the persistence of old information is affected by the size of new economic shocks. The author compares the optimal weight placed on past predictions to information frictions over time for US professional forecasters and find that explore the relationship between the optimal weights the magnitude of shocks.

Chair: Wenhua Di (Federal Reserve Bank of Dallas)


Bridging the Gap between the Deposit Insurance Fund Target Level and the Current Fund Level
Alexander B. Ufier (FDIC), Charles Kusaya (Zimbabwe Deposit Protection Corporation), John P. O’Keefe (Independent Consultant)


Expectation Formation and the Persistence of Shocks
Constantin Burgi (St. Mary’s College of Maryland)

Discussants: Kathleen McDill (FDIC); Chad Fulton, (Federal Reserve Board)

Small Banks: Transition and Crisis

Wednesday, December 9th, 2020

Friday Virtual Seminar Series
Friday December 18, 2020
12:00 p.m. to 1:45 p.m.

This seminar is free. Please register at this Zoom link.
We can welcome up to 100 participants.

This session focuses on challenges faced by the banking sector, especially small banks, in the past 20 years. The first paper focuses on loss given default of acquisition, development, and construction loans during the Great Recession and its aftermath (2008-2012) and how those loan defaults contributed to numerous small bank failures. The second paper illustrates how monetary policy affects banks’ decisions to enter local deposit markets and how entry barriers in those markets affect establishments of differing sizes. The third paper explores how the tightening of anti-money laundering enforcement imposed disproportionate costs on small banks, shifting the local banking composition towards larger banks and how that shift affects measures of local economic well-being. The fourth paper studies the effects of changes in business credit during the COVID-19 pandemic comparing the behavior of lenders to that of borrowers during the pandemic compared to prior years and examining differences in credit issued to small and large borrowers, in both good and bad economic conditions.

Chair: Alexander B. Ufier (FDIC)

Loss Given Default for Acquisition, Development and Construction Loans
Lynn Shibut (FDIC), Emily Johnston-Ross (FDIC), Joseph Nichols (Federal Reserve Board)

The Bank Entry Channel of Monetary Policy Transmission
Stefan Lewellen (Penn State University), Emilio Bisetti (Hong Kong University of Science and Technology), Stephen A. Karolyi (Carnegie Mellon)

Anti-money Laundering Enforcement, Banks, and the Real Economy
Pablo Slutzky (University of Maryland), Senay Agca (George Washington University), Stefan Zeume (University of Illinois Urbana-Champaign)

Bank Lending during the Covid-19 Crisis
Teng Wang (Federal Reserve Board of Governors), Allen N. Berger (University of South Carolina), Christa H.S. Bouwman (Texas A&M University), Lars Norden (Getulio Vargas Foundation), Raluca A. Roman (Federal Reserve Bank of Philadelphia), Gregory F. Udell, (Indiana University)

Discussants: Kayla Freeman (University of Georgia), Freddy Cama (Bay Atlantic University), Heath Witzen (Consumer Financial Protection Bureau), Chacko George (FDIC)

Small Banks: Transition and Crisis

Economic Well-Being and the Supplemental Poverty Measure – Improvements and Expansion in 2021 and Beyond

Thursday, December 3rd, 2020



Friday December 11, 2020, 12-1:45pm ET

This seminar is free.  Pre-registration is required. Register at this Zoom link.
Up to 100 participants.

How can economic well-being and poverty be measured? Ten years ago an interagency technical working group produced guidelines for a supplement to the official poverty measure. This measure is referred to as the Supplemental Poverty Measure (SPM), and for several years now has been published as a product of collaboration by researchers at the BLS and Census Bureau with support from the SPM Interagency Technical Working Group for Implementation (ITWG-SPM).  In this session, researchers from the Census Bureau and BLS will describe planned improvements in the SPM and extensions to include data from more surveys.

Chair:  Connie Citro, National Academy of Sciences

Improvements to the Census Bureau’s Supplemental Poverty Measure for 2021
Liana E. Fox & Trudi Renwick* (Census Bureau)

Changes to the Supplemental Poverty Measure Thresholds for 2021
Thesia Garner*, Juan Munoz, & Jake Schild (Bureau of Labor Statistics)

The Supplemental Poverty Measure Using the American Community Survey
Brian Glassman & Liana Fox* (Census Bureau), Jose Pacas (U of Minnesota)

Calculating the Supplemental Poverty Measure in the Survey of Income and Program Participation
Lewis Warren*, Liana Fox, Ashley Edwards (Census Bureau)

Discussant: David Johnson (University of Michigan)

(*designated speaker)

Economic Well-Being and the Supplemental Poverty Measure – Improvements and Expansion in 2021 and Beyond

Economics of Vaccines for COVID-19

Sunday, September 20th, 2020


Monday October 5, 2020
5:00 pm to 6:30 pm

This Zoom webinar is free. Register at:
https://us02web.zoom.us/meeting/register/tZUpdu6oqDItG9yhU_fH7ug8nen7y9eqYKtR. Maximum # of participants is 100.

Presenters:
Bhaven Sampat, Associate Professor, Department of Health Policy and Management, Columbia University and Research Associate, National Bureau of Economic Research (NBER)

Ali Moghtaderi, Assistant Professor, Milken Institute School of Public Health, George Washington University

Bhaven Sampat will discuss how research on vaccines and viruses at the National Institutes of Health has accelerated the progress towards an effective vaccine. Bhaven’s expertise on how public research is translated into private sector results will help us understand the roots of ongoing efforts by companies, such as Moderna, Astra Zeneca, Merck, Johnson and Johnson, and Pfizer. He has published several articles on how public R&D investment affects private patenting and related topics in Review of Economic Studies, Science, and the American Economic Review

Ali Moghtaderi will discuss issues related to public acceptance of a vaccine, once an effective vaccine has been developed. Ali’s expertise in vaccines, especially Americans’ perspectives on taking the coronavirus vaccine, will help us understand reasons Americans have for not participating. He has published several articles on the economics of vaccines and other health economics topics in Health Affairs, JAMA, and Medical Care.

Leo Sveikauskas, economist at U.S. Bureau of Labor Statistics, will moderate this discussion.

Q&A will take place after the presentations.

Economics of Vaccines for COVID-19