Economic Policy Commons^™

Minority Owned Businesses In The Southwest Megapolitan Triangle, Yanneli Llamas, Madison Frazee-Bench, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

This fact sheet presents the potential impact of COVID-19 on minority owned businesses, using data originally published by Brookings researchers Sifan Liu and Joseph Parilla in “Businesses owned by women and minorities have grown. Will COVID-19 undo that?” As noted in the original report, the coronavirus pandemic will shock a variety of industries and communities, but minority-owned businesses are likely to be hardest hit.

Synthetic Governance, Byung Hyun Anh, Jill E. Fisch, Panos N. Patatoukas, Steven Davidoff Solomon

Faculty Scholarship at Penn Law

Scholars, practitioners and policymakers continue to debate what constitutes “good” corporate governance. Academic efforts to evaluate the effect of governance provisions such as dual class voting structures, staggered boards of directors and separating the positions of CEO and Chairman of the Board, have produced inconsistent or inconclusive results. The consequence is that the debate over corporate governance is increasingly political and discordant.

We offer a way to address this debate. The rise of index-based investing provides a market-based alternative to governance regulation. Through the creation of bespoke governance index funds, asset managers can offer investors the opportunity to choose an ...

Transportation Affordability In The Mountain West, Saha Salahi, Kelliann Beavers, Elia Del Carmen Solano-Patricio, Caitlin J. Saladino, William E. Brown Jr.

Transportation & Infrastructure

This Fact Sheet highlights “The Most and Least Affordable Cities For Public Transit” in the Mountain West. Extracting from Paul Reynolds’ analysis of over 70 transit system across the United States from 2014 to 2015, this fact sheet focuses on data for the 7 municipalities in the Mountain West: Albuquerque, NM; Ogden, UT; Boulder, CO; Phoenix, AZ; Las Vegas, NV, Salt Lake City, UT, and Denver, CO.

Setting Standards For Affordable Health Care, Janet Weiner

Issue Briefs

In the run-up to the presidential election, the affordability of health care remains a top concern of the American voting public. But how do we know when health care is affordable? On a policy level, how do we set a standard for affordability that can be implemented in a reformed system? Sometimes policy debates about affordability focus only on whether insurance premiums are affordable, although consumers tend to be concerned about both premiums and out-of-pocket costs. At Penn LDI’s Medicare for All and Beyond conference, a panel of researchers, policy experts, and consumer advocates discussed and debated affordability ...

Material Hardship Among Lower-Income Households: The Role Of Liquid Assets And Place, Mathieu Despard, Valerie Taing, Addie Weaver, Stephen Roll, Michal Grinstein-Weiss

Social Policy Institute Research

Lower income households are at risk for material hardship, particularly amidst the economic fallout of COVID-19. Where one lives (e.g. suburb, small town) may affect this risk due to variable access to resources, yet the evidence is mixed concerning the influence of place. We used a pooled, national cross-sectional sample of 66,046 lower-income tax filers to examine differences in material hardship in rural, small town, micropolitan, and urban areas. Controlling only for standard demographic variables, hardship risk appears higher in non-urban areas, yet these differences disappear after controlling for financial characteristics such as liquid assets and home ownership.

Covid 19: Unemployment Claims In The Mountain West, Katie M. Gilbertson, Madison Frazee-Bench, Marie A. Falcone, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

The purpose of this fact sheet is to highlight the impact of the COVID-19 health crisis on unemployment claims in the Mountain West region. This fact sheet presents data gathered from Opportunity Insights and provides unemployment claims data for five Mountain West states (Arizona, Colorado, Nevada, New Mexico, and Utah) as of May 9, 2020.

Employee Financial Wellness Programs: Promising New Benefit For Frontline Workers?, Mathieu Despard, Ellen Frank-Miller, Yingying Zeng, Sophia Fox-Dichter, Geraldine Germain, Michal Grinstein-Weiss, Meredith Covington

Social Policy Institute Research

Interest among employers is growing in Employee financial wellness programs (EFWPs), a new type of benefit to address financial stress among employees. EFWPs benefits include financial counseling, small-dollar loans, and savings programs that address employees' non-retirement financial needs. Little evidence exists concerning the availability and use of and outcomes associated with EFWPs, especially among low- and moderate-income (LMI) workers who may be in greatest need of these benefits. We present findings concerning awareness and use of EFWPs from a national survey of LMI workers (N=16,650). Availability of different EFWP benefits ranged from 11 to 15% and over a ...

The Impact Of Tax Refund Delays On The Experience Of Hardship And Unsecured Debt, Olga Kondratjeva, Stephen Roll, Mathieu Despard, Michal Grinstein-Weiss

Social Policy Institute Research

The Earned Income Tax Credit (EITC) provides substantial financial support to low-income workers, yet around a quarter of EITC payments are estimated to be erroneous or fraudulent. Beginning in 2017, the Protecting Americans from Tax Hikes Act of 2015 requires the Internal Revenue Service to spend additional time processing early EITC claims, delaying the issuance of tax refunds. Leveraging unique data, we investigate how delayed tax refunds affected the experience of hardship and unsecured debt among EITC recipients. We find that early filers experienced increased food insecurity relative to later filers after the implementation of the refund delay.

Financial Counseling For Front-Line Workers: A Pilot Study Of Engagement And Outcomes, Mathieu Despard, Yingying Zeng, Sophia Fox-Dichter, Ellen Frank-Miller, Michal Grinstein-Weiss

Social Policy Institute Research

Although financial counseling has been studied in community-based settings, programs offered in the workplace are understudied and yet may aid low- to moderate income employees in improving their financial situations. This study examines workers’ engagement in and associated credit outcomes from an employer-based financial counseling program in the New York City area. Findings suggest that participants engaged equally in services except for older and non-English speaking workers, who had lower levels of digital engagement. In-person engagement in services was minimal. Credit score improvements were modest, but greater for workers who had

scores in the lowest quartile at baseline. These credit ...

Employee Financial Wellness Programs: Tips For Providers, Jenna Hampton Bsw, Sloane Wolter, Sophia Fox-Dichter, Ellen Frank-Miller

Social Policy Institute Research

There are several types of Employee Financial Wellness Programs (EFWPs), such as workplace financial counseling, workplace credit building, and employer-sponsored small dollar loans. Each program benefits the company and its employees in different ways.

The Social Policy Institute at Washington University in St. Louis, with generous support from the W. K. Kellogg Foundation, studied the implementation of EFWPs at several diverse organizations, including a nonprofit in the Midwest and several supply chain locations of a national retailer, to understand the impact. As a result, we’ve identified five ways in which providers can maximize the benefits of EFWPs and avoid ...

Promoting Public Retirement Savings Accounts During Tax Filing: Evidence From A Field Experiment, Stephen Roll, Michal Grinstein-Weiss, Olga Kondratjeva, Sam Bufe

Social Policy Institute Research

Many U.S. households—especially those with low- to moderate-incomes (LMI)—struggle to save for retirement. To address this issue, the Department of the Treasury launched myRA, a no-fee retirement account designed primarily to help people who lacked access to employer-sponsored plans build retirement savings. In this paper, we report findings from two myRA-focused field experiments, both of which were administered to well over 100,000 LMI online tax filers before and during the 2016 tax season. The first experiment involved sending one of three different myRA-focused email messages to tax filers immediately prior to tax season ...

Employee Financial Wellness Programs: Tips For Employers, Sloane Wolter, Jenna Hampton Bsw, Sophia Fox-Dichter, Ellen Frank-Miller

Social Policy Institute Research

There are several types of Employee Financial Wellness Programs (EFWPs), such as workplace financial counseling, workplace credit building, and employer-sponsored small dollar loans. Each program benefits the company and its employees in different ways.

The Social Policy Institute at Washington University in St. Louis, with generous support from the W. K. Kellogg Foundation, studied the implementation of EFWPs at several diverse organizations, including a nonprofit in the Midwest and several supply chain locations of a national retailer, to understand the impact. As a result, we’ve identified four ways in which organizations can maximize the benefits of EFWPs and avoid ...

Tax-Time Saving And The Earned Income Tax Credit: Results From Online Field And Survey Experiments, Mathieu Despard, Michal Grinstein-Weiss, Stephen Roll, Bradley Hardy, Dana Perantie, Jane Oliphant

Social Policy Institute Research

Tax refunds are an opportunity for Earned Income Tax Credit (EITC) recipients to build emergency savings. Randomly assigned behavioral interventions in 2015 and 2016 have statistically significant impacts on refund saving take-up and amounts among EITC recipients who filed their taxes online. From a survey experiment, we also find that EITC recipients have a 49 percent and 59 percent increased likelihood of deferring 20 percent of their refunds for six months when hypothetically offered 25 and 50 percent savings matches (p < .001), respectively. These findings can inform policy development related to encouraging emergency saving at tax time.

Using Financial Tips To Guide Debt Repayment: Experimental Evidence From Low-And Moderate-Income Tax Filers, Olga Kondratjeva, Stephen Roll, Sam Bufe, Michal Grinstein-Weiss

Social Policy Institute Research

Much of the literature on household finances tends to focus on discrete or relatively objective measures like savings, debt, economic mobility, and there has been a lack of research on holistic measures of financial well-being. This gap is due in part to the absence of a common understanding of how to define and measure financial well-being; a gap that was recently addressed by the Consumer Financial Protection Bureau’s development of a financial well-being scale. However, the research on this scale is still scarce and little is known about how financial well-being evolves over time. To that end, this paper ...

Covid-19: The Impact On Young, Low-Wage Workers Without College Degrees, Marie A. Falcone, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

This Fact Sheet highlights select data from the Brookings Institution report “We can’t recover from coronavirus recession without helping young workers” released May 7, 2020 by Martha Ross and Nicole Bateman. In the context of the 2020 COVID-19 pandemic, the report includes data on the long-term, near-term, and immediate-term risk for occupations held by young workers without college credentials. This Fact Sheet focuses on data pertaining to the employment demography of young workers without a college degree in Mountain West states (Arizona, Colorado, Nevada, New Mexico, and Utah).

The Past And The Present: Two Paradigms Of The Sino-African Investment, Emma Weirich

International Political Economy Theses

Outward foreign direct investment (OFDI) has obvious economic and political connections between the recipient and donor countries. Such investment can benefit both sides and carry certain costs to both, whether through global scrutiny or domestic struggles. This these seeks to add to the ongoing discussion of China's OFDI to Africa by comparing China's investment during its socialist period (1949-1976) and its post-socialist era (1977 – present). This comparison reveals that China's foreign policy has transitioned from a socialist paradigm to a capitalist one in the last seven decades, which brought significant changes in its OFDI policies and practice ...

Neighborhood Change In Las Vegas, Elia Del Carmen Solano-Patricio, Caitlin J. Saladino, William E. Brown Jr.

Housing & Real Estate

This Fact Sheet analyzes indicators of demographic and economic change in Las Vegas neighborhoods and suburbs, provided by “American Neighborhood Change in the 21st Century,” a study published by the Institute on Metropolitan Opportunity (IMO) at the Minnesota Law School. Researchers reviewed data from the 2000 U.S. Census and the 2016 American Community Survey (ACS) for the top 50 largest metros in the U.S. The study reports levels of neighborhood change, including economic growth, poverty concentration, gentrification, and low-income displacement. Data pertaining to the Las Vegas metropolitan region are synthesized to measure indicators of economic viability and housing ...

Contemporary High-Skilled Mexican Immigrant Entrepreneurs In Texas, Elizabeth Salamanca, Jorge Alcaraz

Mission Foods Texas-Mexico Center Research

The number of Mexican entrepreneurs relocating to the United States has significantly increased during the last decade and their profile, as well as that of their businesses, have changed. This study develops a typology of Mexican migrant entrepreneurs living in the U.S., particularly in Texas, and of the business ventures that they undertake, and it determines the association between the entrepreneurs' profile and the kind of businesses they create. Through the analysis of migrant entrepreneurs' profiles, this paper identifies in what kind of transnational activities these entrepreneurs participate. The research follows both a qualitative approach based on the Gioia ...

The Correlation Between County Expenditures And Ab109 Recidivism: A Cross-Sectional Analysis, Maya Crim

Electronic Theses, Projects, and Dissertations

In response to a federal mandate, California passed Public Safety Realignment policies in 2011 to reduce its prison population. Popularly known as Assembly Bill 109 (AB109), these policies sought to reform the prison system on multiple fronts. One of these fronts is preventing recidivism among offenders. Most studies on recidivism look at individual factors or specific micro interventions. However, the aim of this research was to examine the relationship between external factors and recidivism rates across 55 California counties. Using Spearman’s Correlation, this study tested the hypothesis that external factors such as county funding/expenditure, poverty level, and unemployment ...

Metro Monitor 2020: Las Vegas & Reno, Elia Del Carmen Solano-Patricio, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

This Fact Sheet presents changes in indicators of economic health for the State of Nevada using data provided by the Brookings Institution’s Metro Monitor analysis. Looking beyond gross domestic product (GDP) and job growth, researchers at Brookings’ Metropolitan Policy Program measure various indicators of economic well-being across 192 metropolitan statistical areas (MSAs) for a 1-year period (from 2017-2018) and a 10-year period (from 2008-2018). Metro areas are classified by size: midsized metros (with populations between 250,000 and 500,000), large metros (with populations between 500,000 and 1 million), and very large metros (with populations over 1 million ...