Our funding interests are organized around the following four drivers of economic growth: macroeconomics and inequality, market structure, the labor market, and human capital and wellbeing. We consider proposals that investigate the consequences of economic inequality, as well as group dimensions of inequality; the causes of inequality to the extent that understanding these causal pathways will help us identify and understand key channels through which inequality may affect growth and stability; and the ways in which public policies affect the relationship between inequality and growth.
Explore the Grants We've Awarded
The role of culture and competition in media diversity: Historical evidence from U.S. radio stations
Mark-ups in the cement industry: An evolution of scale economies and market power
Do merger reviews promote competition and stall consolidation?
Cannabis-infused dreams: A market at the crossroads of criminal and conventional
A large-scale evaluation of merger simulations
This project asks whether standard merger simulation techniques in industrial organization effectively predict price changes in observed mergers, and if not, if predictions depart from reality systematically and in a way consistent with efficiencies or coordinated effects. Using scanner data, the authors will run a standard merger simulation on a large set of completed mergers and compare predictions to outcomes, creating a comprehensive retrospective of the effects of mergers on prices, which will inform us of whether typical approved mergers in the United States tend to increase prices. They will also study the sources of the prediction error.
Regulation of merger policy is a primary tool of competition policy in the United States. Merger simulations are used to decide whether mergers are anti-competitive or whether they should be permitted. This ambitious project could provide a wealth of information about consummated mergers and the predictive power of merger simulation techniques, contributing to the infrastructure used to regulate competition.
Measuring firms’ labor market power in the United States
Funded researchHuman Capital and Wellbeing
How does economic inequality affect the development of human capital, and to what extent do aggregate trends in human capital explain inequality dynamics?