The NBER Reporter 2018 Number 2: Books

U.S. Engineering in a Global Economy

Edited by Richard B. Freeman and Hal Salzman
$130 (cloth)

    Since the late 1950s, the engineering job market in the United States has been fraught with fears of a shortage of engineering skill and talent. U.S. Engineering in a Global Economy brings clarity to issues of supply and demand in this important market. Following a general overview of engineering-labor market trends, the volume examines the educational path-ways of undergraduate engineers and their entry into the labor market, the impact of engineers working in firms on productivity and innovation, and different dimensions of the changing engineering labor market, from licensing to changes in demand and guest worker programs.
    U.S. Engineering in a Global Economy also provides insights on engineering education, practice, and careers that can inform educational institutions, funding agencies, and policymakers about the challenges facing the United States in developing its engineering workforce in the global economy.

High-Skilled Migration to the United States

and Its Economic Consequences

Edited by Gordon H. Hanson, William R. Kerr, and Sarah Turner
$130 (cloth)

     Immigration policy is one of the most contentious public policy issues in the United States today. High-skilled immigrants represent an increasing share of the U.S. workforce, particularly in science and engineering fields. These immigrants affect economic growth, patterns of trade, education choices, and the earnings of workers with different types of skills. The chapters in this volume go beyond the traditional question of how the inflow of foreign workers affects native employment and earnings to explore effects on innovation and productivity, wage inequality across skill groups, the behavior of multinational firms, firm-level dynamics of entry and exit, and the nature of comparative advantage across countries.

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NBER Macroeconomics Annual 2017, Volume 32

Edited by Martin Eichenbaum and Jonathan A. Parker
$90 (cloth)

     Volume 32 of the NBER Macroeconomics Annual features six theoretical and empirical studies of important issues in contemporary macroeconomics, and a keynote address by former IMF chief economist Olivier Blanchard. In one study, SeHyoun Ahn, Greg Kaplan, Benjamin Moll, Thomas Winberry, and Christian Wolf examine the dynamics of consumption expenditures in non-representative-agent macroeconomic models. In another, John Cochrane asks which macro models most naturally explain the post-financial-crisis macroeconomic environment, which is characterized by the coexistence of low and nonvolatile inflation rates, near-zero short-term interest rates, and an explosion in monetary aggregates. Manuel Adelino, Antoinette Schoar, and Felipe Severino examine the causes of the lending boom that precipitated the recent U.S. financial crisis and Great Recession. Steven Durlauf and Ananth Seshadri investigate whether increases in income inequality cause lower levels of economic mobility and opportunity. Charles Manski explores the formation of expectations, considering the efficacy of directly measuring beliefs through surveys as an alternative to making the assumption of rational expectations. In the final research paper, Efraim Benmelech and Nittai Bergman analyze the sharp declines in debt issuance and the evaporation of market liquidity that coincide with most financial crises. Blanchard's keynote address discusses which distortions are central to under-standing short-run macroeconomic fluctuations.

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Tax Policy and the Economy, Volume 32

Edited by Robert A. Moffitt
$60 (cloth)

    The six research studies in Volume 32 of Tax Policy and the Economy analyze the U.S. tax and transfer system, in particular its effects on revenues, expenditures, and economic behavior. James Andreoni examines donor-advised funds, which are financial vehicles offered by investment houses to provide savings accounts for tax-free charitable giving, and weighs their effects on donations against their tax cost. Caroline Hoxby analyzes the use of tax credits by students enrolled in online post-secondary education. Alex Rees-Jones and Dmitry Taubinsky explore taxpayers' psychological biases that lead to incorrect perceptions and understanding of tax incentives. Jeffrey Clemens and Benedic Ippolito investigate the implications of block grant reforms of Medicaid for receipt of federal support by different states. Andrew Samwick examines means-testing of Medicare and federal health benefits under the Affordable Care Act. Bruce Meyer and Wallace Mok study the incidence and effects of disability among U.S. women from 1968 to 2015, examining the impacts of disability on income, consumption, and public transfers.

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