Economics Department at George Washington University

01/26/2021

Econ students, join your classmates in GW Women in Economics!

Come meet us this weekend at the rescheduled Org Fair! We love meeting new members.

Economics Department at George Washington University

01/26/2021

Econ students, join your classmates in GW Women in Economics!

Come meet us this weekend at the rescheduled Org Fair! We love meeting new members.

Economics Department at George Washington University

01/26/2021

Econ students, join your classmates in GW Women in Economics!

Come meet us this weekend at the rescheduled Org Fair! We love meeting new members.

Economics Department at George Washington University

01/25/2021

US Fed holds first policy meeting of Biden administration - France 24

"There are many aspects of our current economy that are still unprecedented. And that means that their job is incredibly challenging," GW economist Tara Sinclair told France 24.

The Fed last year announced a new framework that gives officials flexibility to address the situation.

The central bank pledged to allow inflation to exceed its two percent goal for a time to ensure the unemployment rate drops from its 6.7 percent level at the end of 2020.

That is a radical shift from the past, when central bankers would raise rates early to head off inflation.

"They can see the whites of inflation's eyes before they need to be necessarily thinking about really changing policy" under the new framework, Sinclair said.

#GWEcon21

US Fed holds first policy meeting of Biden administration

01/22/2021

Inaugural boom vanishes under coronavirus lockdown, attack threat lockout

GW Economics faculty Tony Yezer and Leah Brooks are sourced by The Washington Times, and Tony's quote is classic!

Tony Yezer: “Asking the economic effect of having no crowds for the inauguration on D.C. is like asking about the effect of a splinter in the hand of a person who has been shot with a gun. Yes, the splinter is annoying but the patient is going to die from the gunshot.”

Leah Brooks: “In years past, the city and federal government spent money on inauguration security; in return, they usually received additional sales tax revenues from all the events associated with the inauguration. This year, the area is surely spending much more on security, and there is very little spending by the inauguration going into the local economy. In other words, a much worse return on investment."

#GWEcon21

Call it Inauguration Day in the Upside Down. The quadrennial event that brought an estimated $1 billion in revenue to D.C.-area businesses in 2017 now looks to add insult to injury to the pandemic-battered regional economy.

01/22/2021

Applied Econ M.A. Director Joann Weiner and Department Chair Stephen Smith were excited to meet our new Applied Econ M.A. students at the Spring 2021 orientation. Learn more about the program at https://economics.columbian.gwu.edu/ma-applied-economics.

(PC: Grace Lee)

#GWEcon21 #GWAppliedEcon

01/14/2021

Check out GW Women in Economics at the Spring Org Fair!

This weekend is the spring org fair, and GW Women in Economics would love to have you in our org! We are a pre-professional organization designed for women studying economics to create community. We host a variety of events throughout the semester (it’s low commitment!), have an internship database, and more. If you’re at all interested in joining or even being on our mailing list, we’d love to see you on Sunday afternoon via Engage! Economics Department at George Washington University

EDIT: The org fair has been rescheduled to Sunday, January 31st from 12-2 pm!

01/14/2021

Jews at Work - Their Economic Progress in the American Labor Market | Barry R Chiswick | Springer

Congratulations to Professor Barry Chiswick on the publication of his new book, "Jews at Work:
Their Economic Progress in the American Labor Market". Barry served as the editor of this book which addresses the educational, occupational, and income progress of Jews in the American labor market. Using theoretical and statistical findings, it compares the experience of American Jews with that of other Americans, from the middle of the 19th century through the 20th and into the early 21st century.

#GWEcon21

This book addresses the educational, occupational, and income success of Jews in the American labor market. It compares the experience of American Jews with that of other Americans, from the middle of the 19th century through the 20th and into the early 21st century....

01/13/2021

American Women Lost More Than 5 Million Jobs In 2020

“Whereas usually we think of recessions as hitting more male-dominated industries, this time the demand for workers was particularly low for jobs in which women are more highly represented,” says GW economist Tara Sinclair. Exacerbating this demand issue is the well-documented care-giving crisis that has found women holding primary care-giving roles at higher rates than men. With the closure of in-person schooling, “women were basically forced into leaving their employment or cutting their hours,” she says.

Read more insight from Tara in Forbes.
#GWEcon21

According to an analysis of the latest jobs report, women accounted for 100% of the 140,000 jobs lost in December. But this statistic doesn't tell the full, complicated story of where, how and why women are—and are not—working in the U.S.

01/13/2021

Nowcasting unemployment insurance claims in the time of COVID-19

New research co-authored by GW Econ alum Will Larson (Ph.D., 2011) and professor Tara Sinclair is out! "Nowcasting unemployment insurance claims in the time of COVID-19" is available in the International Journal of Forecasting, the official publication of the International Institute of Forecasters.

#GWEcon21 Columbian College of Arts and Sciences

Near term forecasts, also called nowcasts, are most challenging but also most important when the economy experiences an abrupt change. In this paper, …

01/13/2021

Congratulations to the winter graduates of our Applied Economics M.A. program! Program director Joann Weiner hosted a virtual commencement ceremony.

#GWAppliedEcon

(PC: Wataru Hoeltermann)

01/12/2021

Are you financially fragile, or could you soon be? Take this quiz to find out

Knowledge of key savings, borrowing and investing concepts are a strong predictor of your financial fragility. Where do you stand? Take this helpful quiz on CNBC by GW Economics affiliated professor Annamaria Lusardi.

#GWEcon21

Take this quiz to find out if you are financially fragile.

01/11/2021

Jobs Recovery Goes Into Reverse as Pandemic Takes a New Toll

“There are a lot of rich people who’ve saved a lot of money and really want to spend it,” said GW economist Tara Sinclair. “Is that going to be enough to make up for all the business that has been lost? No, but it’s going to look like a faster recovery.”
#GWEcon21

U.S. employment fell by 140,000 in December as virus cases surged. Leisure and hospitality businesses were hit hard, but some industries showed growth.

01/05/2021

Fact check: Clinton, Obama left federal government with a lower deficit than when they arrived

"Presidents don't control every lever in the economy," according to Joann M. Weiner, GW Associate Professor of Economics. "However, a lot of those specific policies do either add or subtract from the budget deficit, and in general, Democrats are better at handling the deficit than Republicans are."

What's behind the deficits and surpluses? Read more insight from Joann in USA Today.

#GWEcon21

Posts from 2018 about presidential administrations and the federal deficit have resurfaced on Facebook recently. We rate them missing context.

12/22/2020

While we can’t be together to celebrate the holidays this year, memories of our past celebrations have us looking forward to the possibilities in 2021. We wish all of you a safe, restful, and happy holiday break!

#GWEcon

12/22/2020

Economics Department at George Washington University's cover photo

12/18/2020

No matter what Congress does, 12 million jobless Americans will temporarily lose unemployment benefits

"The clock is ticking on Capitol Hill as discussions between Republicans and Democratic lawmakers regarding a second stimulus package are likely to stretch into the weekend. But no matter what actions they take, some 12 million Americans will see a lapse in their unemployment benefits soon."

Get the full story from GW Econ '20 alum Elisabeth Buchwald in her latest piece for MarketWatch.

Some 3 million workers in California were notified that their last unemployment checks will go out Dec. 26.

12/17/2020

Distribution of Personal Income | U.S. Bureau of Economic Analysis (BEA)

The U.S. Bureau of Economic Analysis released new work by BEA economist Marina Gindelsky (GW Econ Ph.D., 2015), BEA Chief Economist Dennis Fixler (GW Adjunct Professor of Economics), and David Johnson (University of Michigan). Their work updates BEA prototype statistics that measure how U.S. personal income is distributed across households and is updated with data for the years 2017-18.

#GWEcon21 #GWAlumni

function download(d) { if (d == 'Select a year to view data...') { return; }else{ window.location = '//apps.bea.gov/data/special-topics/distribution-of-personal-income/' + d + '-dispi.xlsx'; } } .select-primary { border-color: #c85620; } .select-primary:hover { border-color: #943f18; } Distribution....

12/16/2020

GW Alumnus Named Schwarzman Scholar

Congratulations to GW Econ alum Atticus Francken (B.S. '16 in Economics, Math) - he has been named to the newest class of Schwarzman Scholars, a prestigious graduate fellowship. Atticus will pursue a master’s degree in global affairs at Tsinghua University in Beijing.

#GWEcon21 #GWAlumni

Atticus Francken, B.S. ’16, will pursue a master’s degree in global affairs at Tsinghua University in Beijing.

12/14/2020

This Recession Is Particularly Harmful To Asian Workers

Economic analysis by Diane Lim, GW Professorial Lecturer in our Applied Economics M.A. program, is sourced in a new Forbes article.

Follow Diane on Twitter @economistmom and on her blog economistmom.com

#GWEcon21 #GWAppliedEcon

This recession has brought a lot of suffering for people looking for a new job. This is especially true for many Asian workers. And things could get much worse for these workers, mainly women, as the labor market is slowing amid the accelerating pandemic.

12/11/2020

How women are disproportionately carrying the cost of COVID

Diane Lim, GW Professorial Lecturer in our Applied Economics M.A. program, spoke with PBS NewsHour this week. According to Diane, the economy shifted away from male-dominated manufacturing to female-heavy services after the Great Recession of '08. "People seem to get more pleasure out of experiences a lot more than buying things, like having a fancy car or buying a big house. And now all these really people-intensive jobs, those were exactly the jobs that got hammered."

Follow Diane on Twitter: @economistmom

#GWEcon21 #GWAppliedEcon GW Women in Economics

A recent survey found roughly a quarter of women were considering reducing hours, switching to less demanding jobs, or leaving the workforce altogether. At least 2 million women have dropped out of the labor force since last year. Paul Paul Solman has our "Making Sense" story as part of the "Chasing...

11/13/2020

GW economist Tara Sinclair served as a panelist on the "Role of Big Data, Nontraditional data, and Machine Learning in Economic Policy" at the 2020 Banca d'Italia and Federal Reserve Board Joint Conference on Nontraditional Data & Statistical Learning.

#GWEcon21

11/13/2020

GW Experts Tapped for Biden’s Transition Team

We are pleased to share that our colleague, Jay Shambaugh, GW Professor of Economics and International Affairs, has been selected for the transition team of President-Elect Joe Biden and Vice President-Elect Kamala Harris. Jay will be volunteering with the Council of Economic Advisers transition team. He previously served as a Member of the White House Council of Economic Advisers (August 2015-January 2017), and as its first Senior Economist for International Economics and then Chief Economist (2009-11).

Jay is one of five GW faculty members named to help with the presidential transition.

#GWEcon21 #OnlyatGW

Five faculty members were named to help with the presidential transition.

11/12/2020

Thank you to all of our faculty, students, alumni, colleagues, and friends who joined us at the virtual launch of the H. O. Stekler Research Program on Forecasting. Panelists included Neil Ericsson, Fred Joutz, Prakash Loungani, and Tara Sinclair. The program is named after our renowned former colleague Herman Stekler.

For more information about the program and a schedule of events, please visit https://cer.columbian.gwu.edu/ho-stekler-research-program-forecasting.

(PC: Tara Sinclair)

#GWEcon21

11/09/2020

GW Experts Offer Predictions for Biden Administration

According to Joann M. Weiner, Associate Professor of Economics and the Director of our Applied Economics M.A. program:

“President-elect Biden may quickly take action in the following areas.

“First, he will work on getting the economy back to health, which means, as he emphasized during the campaign, that we must get the pandemic under control. He has already set up a coronavirus task force that is likely to set out conditions needed to keep people safe and healthy while also restoring the health of the economy.

“For the economy to turn the corner, economic activity must grow. This growth could take the form of reinstating the economic impact payments that were first provided under last spring's CARES Act. A final economic measure might focus on implementing his Build Back Better promise. Our country's infrastructure is long over-due for needed repairs and spending on infrastructure seems to have the bipartisan appeal needed to get the building back underway."

#GWEcon21 #GWAppliedEcon

University faculty specialists discuss how policies ranging from battling COVID-19 to foreign affairs are likely to change with Joe Biden in the White House.

11/04/2020

GW Women in Economics

Hey everybody! A week from today we are having a joint event with the career center. You must RSVP at the link below, but it’s open to everyone! Hope to see you there!
https://gwu.campuslabs.com/engage/event/6566052

11/02/2020

Economics Department at George Washington University's cover photo

10/26/2020

We enjoyed an engaging virtual seminar presentation by #GWU Econ alum William Larson (Ph.D., 2011) on "Nowcasting Unemployment Insurance Claims in the Time of COVID-19". The seminar was held by GW's H. O. Stekler Research Program on Forecasting, joint with the Federal Forecasters Consortium (FFC).

#GWEcon21 #GWAlumni

(PC: Tara Sinclair)

10/20/2020

#GWU economist Tara Sinclair participated in the 21st IWH-CIREQ-GW Macroeconometric Workshop: Forecasting and Uncertainty. The workshop brought together academic researchers and practitioners to discuss new developments in the field of empirical and applied macroeconomic modelling. The event was co-sponsored by our H.O. Stekler Research Program on Forecasting.

#GWEcon21

(PC: Tara Sinclair)

10/15/2020

William Larson | Department of Economics | Columbian College of Arts & Sciences | The George Washington University

#GWU Economics alum William Larson (Ph.D., 2011) will present a virtual seminar, "Nowcasting Unemployment Insurance Claims in the Time of COVID-19", on Thursday, October 22, 12:30-2 pm ET. Please email forecasting (at) gwu.edu to register (no cost) and receive a Zoom link to join the meeting online.

This seminar is being held by GW's H. O. Stekler Research Program on Forecasting, joint with the Federal Forecasters Consortium (FFC).

For our full schedule of our forecasting seminars, please visit: https://cer.columbian.gwu.edu/forecasting-news-events

#GWEcon21 #GWAlumni

Near term forecasts, also called nowcasts, are most challenging but also most important when the economy experiences an abrupt change. In this paper, we explore the performance of models with different information sets and data structures in order to best nowcast US initial unemployment claims in sp...

10/14/2020

GW Libraries at the George Washington University | GW Libraries

The GW community is invited to register for "Data Cleaning with Open Refine" hosted by the GW Libraries. This hands-on workshop will teach you to use OpenRefine to clean and format data and automatically track any changes that you make which supports research reproducibility. This workshop is part of the Collecting and Analyzing Research Data series for anyone who needs help using statistical software packages to manipulate and analyze research data.

Please see the link for more information and to register.

GW Libraries at the George Washington University, including the Gelman Library on the Foggy Bottom Campus, Eckles Library at Mount Vernon Campus, and the Virginia Science and Technology Campus Library

10/12/2020

Diane Lim, #GWU Professorial Lecturer in our Applied Economics M.A. program, hosted a fascinating virtual conversation on Friday called "What the Pandemic is Teaching Economists About the Economy" as part of our Applied Economics in Action series. Diane was joined by Applied Economics M.A. students, Program Director Joann Weiner, and Associate Professor Tara Sinclair.

For a listing of our future virtual events, please see https://economics.columbian.gwu.edu/news-events.

#GWEcon21 #GWAppliedEcon