Written by Vanessa Wu Abstract: Will a minimum wage affect worker productivity? If there does exist an effect, will it be the same for high-wage and low-wage workers? In this paper, I develop a theoretical framework to demonstrate how the effect of a minimum wage on worker productivity can be transmitted via two channels: (a)…
Month: October 2021
The Death of First Class
Written by Adam Jankelowitz I. IntroductionSince the dawn of commercial aviation, airlines have sought ways to utilize price discrimination to maximize profits. With airlines initially focusing on transporting mail, passengers endured flights with numerous stops and sporadic timing. Carriers began to offer passengers more expensive tickets on non-stop flights. Ultimately, in the quest to increase…
Overview of the Expanded Child Tax Credit and Where It’s Headed
Written by Ethan Messeri When President Biden signed the American Rescue Plan (ARP) into law he may have created one of the most impactful anti-poverty programs in decades: the Expanded Child Tax Credit. The ARP boosted the Child Tax Credit (CTC) from a maximum of $2,000 a year per child to 3,600 annually for children…
State Economies: Winners and Losers
Written by Nicholas Costa The United States of America is the largest economy in the world with a GDP of about 21 trillion (World Bank). It is one of the wealthiest countries in the world, with a GDP per capita of about 63.5 thousand dollars per person (World Bank). The United States, however, is a…
FOMC September Meeting: Current Monetary Policy
Written by Tess Britton One of the most talked about economic issues of 2021 is the discussion of interest rates and Federal Reserve asset buying in relation to the current inflationary period.[1] The Federal Reserve met in late September to discuss combating inflation through tapering bond purchases. In order to stimulate the economy with pandemic-related…