Economics Applied is a must-listen podcast from the Hoover Institution that brings cutting-edge economic insights to policymakers, business leaders, and engaged citizens. Hosted by renowned economist Steve Davis, the podcast translates complex economic research into clear, actionable discussions that shape real-world decision-making.
With each episode, Economics Applied explores the forces driving markets, labor dynamics, government policies, and global economies—delivering research-backed analysis that goes beyond headlines. Whether you’re a policymaker, an executive navigating economic trends, or an individual looking to deepen your understanding of economic forces, Economics Applied equips you with the knowledge to interpret and anticipate economic change.
📻 Siste episoder av Economics, Applied
Her er de nyeste episodene tilgjengelige via RSS-feeden:
Cool New Work on Remote Work | Steven Davis, Nicholas Bloom | Hoover Institution (00:38:38)
Nicholas Bloom joins Steven Davis to discuss cool new research presented at the annual Hoover-SIEPR conference on remote work: How much do employers save on wages when they let employees work from home? Why does remote work raise productivity in some settings but lower it in others? Do children perform better at school when parents work from home? What does the rise of remote work mean for cities?
ABOUT ECONOMICS, APPLIED
Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied.
Inflation: A View from the FOMC | Steven Davis, Jeffrey Schmid | Hoover Institution (00:42:17)
Federal Open Market Committee (FOMC) member Jeffrey Schmid speaks with Steven Davis about inflation, labor market conditions, and US monetary policy. They discuss the state of the economy, the thinking behind recent monetary policy decisions, the public’s intense dislike of inflation, central bank credibility, how the recent government shutdown challenged policymakers, and the need to rethink economic statistics.
ABOUT ECONOMICS, APPLIED
Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied.
Why Some Highly Educated Women Choose to Have Many Children | Steven Davis, Catherine Pakaluk | Hoover Institution (00:53:58)
Steven Davis speaks to Catherine Pakaluk, author of an audacious book on highly educated American women who choose to have many children. How do these women explain and understand their choices to have large families? What do their stories say about the broader forces that influence fertility decisions? What are the lessons for families and communities?
ABOUT ECONOMICS, APPLIED
Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied.
How Do Small Towns Grow? | Steven Davis, Tom Barkin | Hoover Institution (00:20:38)
Richmond Fed President, Tom Barkin, joins Steven Davis to consider what it takes for small towns to prosper, and why it matters for families and communities. They also discuss how policymakers and civic leaders can address concerns about the downsides of economic development.
ABOUT ECONOMICS, APPLIED
Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied.
Construction Productivity: Strange and Awful | Steven Davis, Austan Goolsbee | Hoover Institution (00:17:23)
Austan Goolsbee joins Steven Davis to consider “The Strange and Awful Path of Productivity in the U.S. Construction Sector.” Strange because construction productivity has stagnated for decades. Awful because it makes homes less affordable for American families. They probe the issue, drawing on Austan’s recent research with Chicago Booth Professor Chad Syverson.
ABOUT ECONOMICS, APPLIED
Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied.
Why So Few Births? | Steven Davis, Claudia Goldin | Hoover Institution (00:44:16)
Claudia Goldin joins Steven Davis to discuss the “The Downside of Fertility,” her essay presented at the 2025 Jackson Hole Economic Policy Symposium. She offers an explanation for why fertility rates fell around the world as women gained greater agency in multiple domains (marriage, reproduction, education, labor markets). When women gain agency, Goldin argues that a “mismatch” between men and women in their expectations about child-rearing responsibilities leads to lower fertility. She also argues that this form of mismatch is more acute in the wake of sustained, rapid economic development, as women pursue newfound opportunities while many men cling to traditional views about marriage and child rearing.
RELATED SOURCES
“The Downside of Fertility” by Claudia Goldin, 2025.
Claudia Goldin, Official Nobel Prize Interview, 2023.
The Population Bomb by Paul Ehrlich, 1968
The Vorkosigan Saga, a series of science fiction novels by Lois McMaster Bujold in which artificial wombs profoundly influence human reproduction and the nature of society.
RELATED EPISODES
“Two Parents or One? What It Means for Children and Society” with Melissa Kearny on Economics, Applied, 8 May 2024.
“Engaged Fathers, Flourishing Children” with Brad Wilcox and Ian Rowe, 20 August 2025.
ABOUT ECONOMICS, APPLIED
Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied.
Central Bank Communications | Steven Davis | Mary Daly, President of the Federal Reserve Bank of San Francisco | Hoover Institution (00:28:51)
Mary Daly joins Steven Davis to discuss how the Fed communicates with the public about monetary policy. How precise should the Fed be about its actions and goals? How transparent about its reasoning and internal deliberations? How should the Fed weigh the need for flexibility in responding to unforeseen shocks against the desire for clarity and guidance? How can the Fed improve its communications? Mary and Steve also discuss the market’s reaction to Jerome Powell’s speech at the Jackson Hole Monetary Policy Symposium.
RELATED SOURCES
“Dynamic Central Bank Communication,” a speech by Mary Daly at the Western Economic Association International Annual Conference, San Francisco, 22 June 2025.
“Monetary Policy and the Fed’s Framework Review,” a speech by Jerome Powell at the Jackson Hole Monetary Policy Forum, 22 August 2025.
ABOUT ECONOMICS, APPLIED
Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied.
Engaged Fathers, Flourishing Children | Steven Davis, Brad Wilcox, Ian Rowe | Hoover Institution (00:53:39)
Engaged fathers help children build happy, prosperous lives, as Steven Davis discusses with sociologist Brad Wilcox and educational entrepreneur Ian Rowe. Brad and Ian also share their ideas on how to strengthen fatherhood and help children choose better life paths.
RELATED SOURCES
Good Fathers, Flourishing Kids: The Importance of Fatherhood in Virginia by Brad Wilcox, Nicholas Zill, Richard Reeves, Ian Rowe, Gerard Robinson and Linda Malone-Colon, 2025.
Get Married: Why Americans Should Defy the Elites, Forge Strong Families and Save Civilization by Brad Wilcox, 2024.
Agency: The Four Point Plan (F.R.E.E.) for ALL Children to Overcome the Victimhood Narrative and Discover Their Pathway to Power by Ian Rowe, 2022.
The Two-Parent Privilege: How Americans Stopped Getting Married and Started Falling Behind by Melissa Kearney, 2023.
“Where Is the Land of Opportunity? The Geography of Intergenerational Mobility in the United States,” Raj Chetty, Nathaniel Hendren, Patrick Kline and Emmanuel Saez, Quarterly Journal of Economics, 2014.
“Why Marriage Survives: The Institution Has Adapted and Is Showing New Signs of Resilience,” Brad Wilcox, The Atlantic, 29 July 2025.
Natonal Marriage Project, University of Virginia
Vertex Partnership Academies
ABOUT ECONOMICS, APPLIED
Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied.
The International Economic System: A Fork in the Road | Steven Davis, Maurice Obstfeld | Hoover Institution (00:50:14)
The international economic system has reached a major turning point. Challenges include the rise of China, U.S. ambivalence about its role on the global stage, and Trumpian trade policy disruptions. What comes next, and what are the potential consequences?
RELATED SOURCES
“The International Monetary and Financial System: A Fork in the Road,” Andrew Crockett Memorial Lecture delivered by Maurice Obstfeld in Basel, Switzerland, 29 June 2025.
“Maurice Obstfeld on the Trade War’s Damage to the Monetary System,” Central Banking, 22 May 2025.
ABOUT ECONOMICS, APPLIED
Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied.
The US-Centric International Economic System after World War II | Steven Davis, Maurice Obstfeld | Hoover Institution (00:48:35)
Since the end of World War II, the United States has played the leading role in designing, supporting, and governing the international economic system. How did the system operate, and what were its underlying principles, goals, and challenges? Steven Davis speaks to Maurice Obstfeld about the international economic system that emerged after World War II, the central role of the United States, and how the positive-sum nature of the system fostered prosperity. They consider how the system functioned in the Bretton Woods era, the Nixon Shock of 1971, high inflation in the 1970s, transition to sound monetary policy in the 1980s, and how the U.S. Dollar became even more central to the system in the 1990s.
RELATED SOURCES
“The International Monetary and Financial System: A Fork in the Road,” Andrew Crockett Memorial Lecture delivered by Maurice Obstfeld in Basel, Switzerland, 29 June 2025.
ABOUT ECONOMICS, APPLIED
Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied.
The Opioid Epidemic and US Political Realignment | Steven Davis, Carolina Arteaga, Victoria Barone | Hoover Institution (01:07:49)
Steven Davis speaks with Carolina Arteaga and Victoria Barone, two Econ professors, about the US opioid epidemic. They discuss Purdue Pharma’s marketing strategy, its influence on physicians, and policy factors as drivers of the epidemic. Next, they consider economic consequences, the odd character of how the media covered the epidemic, the (slow) response of most politicians to a mounting tragedy, and how – over time – the opioid epidemic and its fallout drove a major political realignment in the United States.
RELATED SOURCES
The Great Trade Hack: How Trump’s Trade War Fails and the World Moves On by Richard Baldwin, 2025
The Globotics Upheaval: Globalization, Robotics, and the Future of Work by Richard Baldwin, 2019
“Destructive Trade Policy” by Steven Davis, April 2025
Trends in the Distribution of Household Income from 1979 to 2021, U.S. Congressional Budget Office, September 2024
"Dollar Dominance: A Conversation with Ken Rogoff", Economics Applied podcast, 11 June 2025
VoxEU columns
At War with Ourselves: My Tour of Duty in the Trump White House by H.R. McMaster, 2024
ABOUT ECONOMICS, APPLIED
Economics, Applied brings together top leaders and researchers to break down key economic developments, offering evidence-based insights and practical lessons for navigating today’s economy. Economic change is constant. Subscribe to keep up: hoover.org/podcasts/economics-applied.
The Great Trade Policy Hack | Steven Davis, Richard Baldwin | Hoover Institution (01:06:41)
Richard Baldwin joins the podcast to speak with Steve about Trumpian Trade Policy, its underlying political logic, its lack of economic coherence, and its consequences for the American and global economies. They also discuss economic and political forces that led to the current protectionist moment in US trade policy, and whether it will endure. Finally, they outline four scenarios for the future international trading system and what it means for US economic fortunes and geopolitical influence.
ABOUT THE SPEAKERS
Richard Baldwin is Professor of International Economics at IMD Business School and Editor-in-Chief of VoxEU, an innovative online platform that publishes short, accessible articles grounded in recent research in economics and political economy. Previously, he held faculty appointments at the Geneva Graduate Institute and Columbia Business School. He also served as Senior Staff Economist at the Council of Economic Advisers under President George H.W. Bush.
Steven Davis is the Thomas W. and Susan B. Ford Senior Fellow and Director of Research at the Hoover Institution, and Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR). He is a research associate of the NBER, IZA research fellow, elected fellow of the Society of Labor Economists, and consultant to the Federal Reserve Bank of Atlanta. He co-founded the Economic Policy Uncertainty project, the U.S. Survey of Working Arrangements and Attitudes, the Global Survey of Working Arrangements, the Survey of Business Uncertainty, and the Stock Market Jumps project. He also co-organizes the Asian Monetary Policy Forum, held annually in Singapore. Before joining Hoover, Davis was on the faculty at the University of Chicago Booth School of Business, serving as both distinguished service professor and deputy dean of the faculty.
RELATED SOURCES
The Great Trade Hack: How Trump’s Trade War Fails and the World Moves On by Richard Baldwin, 2025
The Globotics Upheaval: Globalization, Robotics, and the Future of Work by Richard Baldwin, 2019
“Destructive Trade Policy” by Steven Davis, April 2025
Trends in the Distribution of Household Income from 1979 to 2021, U.S. Congressional Budget Office, September 2024
"Dollar Dominance: A Conversation with Ken Rogoff", Economics Applied podcast, 11 June 2025
VoxEU columns
At War with Ourselves: My Tour of Duty in the Trump White House by H.R. McMaster, 2024
Dollar Dominance | Steven Davis, Kenneth Rogoff | Hoover Institution (00:57:35)
Steven Davis speaks with Kenneth Rogoff about the dominant role of the US Dollar in the international monetary and financial system, drawing on Ken’s new book, Our Dollar, Your Problem. They review how the Dollar became pre-eminent, the benefits and costs, the relationship to U.S. monetary policy, and the forces that could undermine Dollar Dominance. These include geopolitical tensions between the U.S. and China, the U.S. fiscal outlook, and threats to central bank independence.
Recorded on June 2, 2025.
ABOUT THE SPEAKERS
Kenneth Rogoff is a Professor of International Economics at Harvard, former Chief Economist at the International Monetary Fund, chess grandmaster, and author of many influential works, including his highly celebrated book with Carmen Reinhart, This Time Is Different: Eight Centuries of Financial Folly. He is an elected member of the National Academy of Sciences and the American Academy of Arts and Sciences.
Steven Davis is the Thomas W. and Susan B. Ford Senior Fellow and Director of Research at the Hoover Institution, and Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR). He is a research associate of the NBER, IZA research fellow, elected fellow of the Society of Labor Economists, and consultant to the Federal Reserve Bank of Atlanta. He co-founded the Economic Policy Uncertainty project, the U.S. Survey of Working Arrangements and Attitudes, the Global Survey of Working Arrangements, the Survey of Business Uncertainty, and the Stock Market Jumps project. He also co-organizes the Asian Monetary Policy Forum, held annually in Singapore. Before joining Hoover, Davis was on the faculty at the University of Chicago Booth School of Business, serving as both distinguished service professor and deputy dean of the faculty.
RELATED SOURCES
Our Dollar, Your Problem: An Insider’s View of Seven Turbulent Decades of Global Finance, and the Road Ahead by Kenneth Rogoff, 2025
This Time Is Different: Eight Centuries of Financial Folly by Carmen Reinhart and Kenneth Rogoff, 2009
Foundations of International Macroeconomics by Maurice Obstfeld and Kenneth Rogoff, 1996
Reducing Gun Violence in America | Steven Davis, Jens Ludwig | Hoover Institution (00:27:44)
Steven Davis chats again with Jens Ludwig about his new book on gun deaths in America. The conversation focuses on low-cost policy solutions that can reduce gun deaths without remaking American society. The solutions include pocket parks, predictive policing, and programs that help people think about behavior in stressful situations.
Recorded on April 23, 2025.
ABOUT THE SPEAKERS
Jens Ludwig is the Edwin A. and Betty L. Bergman Distinguished Service Professor at the University of Chicago’s Harris School of Public Policy. He is also the Pritzker Director of the University’s Crime Lab and codirector of the NBER’s working group on the economics of crime. His latest book, just out from the University of Chicago Press, is titled Unforgiving Places: The Unexpected Origins of American Gun Violence.
Steven Davis is the Thomas W. and Susan B. Ford Senior Fellow and Director of Research at the Hoover Institution, and Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR). He is a research associate of the NBER, IZA research fellow, elected fellow of the Society of Labor Economists, and consultant to the Federal Reserve Bank of Atlanta. He co-founded the Economic Policy Uncertainty project, the U.S. Survey of Working Arrangements and Attitudes, the Global Survey of Working Arrangements, the Survey of Business Uncertainty, and the Stock Market Jumps project. He also co-organizes the Asian Monetary Policy Forum, held annually in Singapore. Before joining Hoover, Davis was on the faculty at the University of Chicago Booth School of Business, serving as both distinguished service professor and deputy dean of the faculty.
RELATED SOURCES
Unforgiving Places: The Unexpected Origins of American Gun Violence by Jens Ludwig, 2025.
Jens Ludwig, personal website
Crime Lab, University of Chicago
Economics of Crime, NBER working group
Understanding Gun Violence in America | Steven Davis, Jens Ludwig | Hoover Institution (00:50:58)
Steve Davis speaks to Jens Ludwig about his deeply-researched new book on gun deaths in America. They discuss why America has so many gun deaths, how traditional narratives fail to explain most gun violence, and why past policies failed to reduce the deadly toll. Ludwig also advances a fuller explanation for gun violence, grounded in evidence and behavioral insights.
Recorded on April 23, 2025.
ABOUT THE SPEAKERS
Jens Ludwig is the Edwin A. and Betty L. Bergman Distinguished Service Professor at the University of Chicago’s Harris School of Public Policy. He is also the Pritzker Director of the University’s Crime Lab and codirector of the NBER’s working group on the economics of crime. His latest book, just out from the University of Chicago Press, is titled Unforgiving Places: The Unexpected Origins of American Gun Violence.
Steven Davis is the Thomas W. and Susan B. Ford Senior Fellow and Director of Research at the Hoover Institution, and Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR). He is a research associate of the NBER, IZA research fellow, elected fellow of the Society of Labor Economists, and consultant to the Federal Reserve Bank of Atlanta. He co-founded the Economic Policy Uncertainty project, the U.S. Survey of Working Arrangements and Attitudes, the Global Survey of Working Arrangements, the Survey of Business Uncertainty, and the Stock Market Jumps project. He also co-organizes the Asian Monetary Policy Forum, held annually in Singapore. Before joining Hoover, Davis was on the faculty at the University of Chicago Booth School of Business, serving as both distinguished service professor and deputy dean of the faculty.
RELATED SOURCES:
Unforgiving Places: The Unexpected Origins of American Gun Violence by Jens Ludwig, 2025
Jens Ludwig, personal website
Crime Lab, University of Chicago
Thinking, Fast and Slow by Daniel Kahneman
The Death and Life of Great American Cities by Jane Jacobs
Economics of Crime, NBER working group
“Does Nothing Stop a Bullet Like a Job? The Effects of Income on Crime,” Annual Review of Criminology, 2025
Trade Policy Rupture | Steven Davis, Chad Bown, Doug Irwin | Hoover Institution (00:52:46)
Steve queries Chad Bown and Doug Irwin about the rupture in U.S. trade policy under Trump 2.0, the economic consequences, and what it would take to restore confidence in the United States as a reliable trade partner.
Recorded on April 16, 2025.
ABOUT THE SPEAKERS
Chad Bown is a Senior Fellow at the Peterson Institute for International Economics, former Chief Economist for the U.S. State Department and the host of Trade Talks, a podcast about international trade and trade policy.
Douglas Irwin is Professor of Economics at Dartmouth College, Senior Fellow at the Peterson Institute, and author of several books on trade and trade policy, including Clashing over Commerce: A History of U.S. Trade Policy and Free Trade Under Fire.
Steven Davis is the Thomas W. and Susan B. Ford Senior Fellow and Director of Research at the Hoover Institution, and Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR). He is a research associate of the NBER, IZA research fellow, elected fellow of the Society of Labor Economists, and consultant to the Federal Reserve Bank of Atlanta. He co-founded the Economic Policy Uncertainty project, the U.S. Survey of Working Arrangements and Attitudes, the Global Survey of Working Arrangements, the Survey of Business Uncertainty, and the Stock Market Jumps project. He also co-organizes the Asian Monetary Policy Forum, held annually in Singapore. Before joining Hoover, Davis was on the faculty at the University of Chicago Booth School of Business, serving as both distinguished service professor and deputy dean of the faculty.
RELATED SOURCES:
Trade Talks, a podcast with Chad P. Bown
Clashing over Commerce: A History of U.S. Trade Policy by Douglas A. Irwin, 2017.
Free Trade Under Fire, by Douglas A. Irwin 2020.
Trump’s Trade War Timeline 2.0: An Up-to-Date Guide by Chad P. Bown.
The Incoherent Case for Tariffs. Trump’s Fixation on Economic Coercion Will Subvert His Economic Goals by Chad P. Bown and Douglas A. Irwin, Foreign Affairs, 11 March 2025.
Measuring Economic Policy Uncertainty by Scott R. Baker, Nick Bloom, and Steven J. Davis, Quarterly Journal of Economics, 2016.
FOLLOW OUR GUEST ON THEIR PLATFORMS:
Chad Bown's website
Chad Bown on X: @ChadBown
Douglas Irwin’s website
Douglas Irwin on X: @D_A_Irwin
The 1920s Immigration Clampdown | Steven Davis, Ran Abramitzky | Hoover Institution (00:55:36)
In the 1920s, the US government sharply restricted immigration inflows from countries in Eastern and Southern Europe. At the time, most immigrants from these countries had modest skills. Steve speaks to Stanford economist Ran Abramitzky about these immigration cutbacks, their effects on the earnings of US-born workers, and how the economy adapted.
Recorded on April 2, 2025.
ABOUT THE SPEAKERS:
Ran Abramitzky is the Stanford Federal Credit Union Professor of Economics, Senior Associate Dean of the Social Sciences at Stanford University, and Senior Fellow at the Stanford Institute for Economic Policy Research. His studies economic history, with a focus on immigration and income inequality. His recent book with Leah Boustan, Streets of Gold: America's Untold Story of Immigrant Success (PublicAffairs 2022), was listed on The New Yorker's Best Books of 2022, Forbes' Best Business Books of 2022, and Behavioral Scientist's Notable Books of 2022.
Steven Davis is the Thomas W. and Susan B. Ford Senior Fellow and Director of Research at the Hoover Institution, and Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR). He is a research associate of the NBER, IZA research fellow, elected fellow of the Society of Labor Economists, and consultant to the Federal Reserve Bank of Atlanta. He co-founded the Economic Policy Uncertainty project, the U.S. Survey of Working Arrangements and Attitudes, the Global Survey of Working Arrangements, the Survey of Business Uncertainty, and the Stock Market Jumps project. He also co-organizes the Asian Monetary Policy Forum, held annually in Singapore. Before joining Hoover, Davis was on the faculty at the University of Chicago Booth School of Business, serving as both distinguished service professor and deputy dean of the faculty.
Do Government Statistics Yield Better Business Outcomes? | Steven Davis, Feng Chi | Hoover Institution (00:44:29)
Steve speaks to Feng Chi about her research on the commercial value of the Decennial Census of Population and Housing. Using a creative empirical approach, Feng offers evidence that fresher government statistics yield better business outcomes and more value for consumers. Steve and Feng also discuss how government statistics improve the value of statistics generated in the private sector.
Recorded on March 19, 2025.
ABOUT THE SPEAKERS:
Feng Chi, a PhD candidate at Cornell University, will join the University of Illinois at Urbana-Champaign as an Assistant Professor of Economics in Fall 2025. She holds a Master of Science degree in Applied Economics and Management from Cornell University and a B.A. in Finance from Renmin University. Her research interests are in information economics, fintech, and entrepreneurship.
Steven Davis is the Thomas W. and Susan B. Ford Senior Fellow and Director of Research at the Hoover Institution, and Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR). He is a research associate of the NBER, IZA research fellow, elected fellow of the Society of Labor Economists, and consultant to the Federal Reserve Bank of Atlanta. He co-founded the Economic Policy Uncertainty project, the U.S. Survey of Working Arrangements and Attitudes, the Global Survey of Working Arrangements, the Survey of Business Uncertainty, and the Stock Market Jumps project. He also co-organizes the Asian Monetary Policy Forum, held annually in Singapore. Before joining Hoover, Davis was on the faculty at the University of Chicago Booth School of Business, serving as both distinguished service professor and deputy dean of the faculty.
American Lives | Economics, Applied | Steven Davis, Stelios Michalopoulos | Hoover Institution (00:56:09)
In the 1930s, as part of the New Deal, the U.S. government hired unemployed writers to interview older Americans and record their life stories. Today’s guest examines those stories to investigate the sources of meaning, happiness, and hardship in the lives of everyday Americans. One theme to emerge is the central role of work as a source of meaning for many people. Another key theme is that men and women differ in how they find meaning in their lives and in the sources of hardship. Join Steve as he speaks with Brown University Professor Stelios Michalopoulos.
Recorded on February 27, 2025.
ABOUT THE SPEAKERS:
Stelios Michalopoulos is the Eastman Professor of Political Economy in the Department of Economics at Brown University. An imaginative scholar, he works at the intersection of political economy and culture. He has conducted research on folklore, movies, the origins of ethnic diversity, the effects of colonial and pre-colonial institutions on economic development in Africa, and much more. He serves on the editorial boards of the World Bank Economic Review, Journal of Economic Growth, Journal of Comparative Economics, and Journal of the European Economic Association.
Steven Davis is the Thomas W. and Susan B. Ford Senior Fellow and Director of Research at the Hoover Institution, and Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR). He is a research associate of the NBER, IZA research fellow, elected fellow of the Society of Labor Economists, and consultant to the Federal Reserve Bank of Atlanta. He co-founded the Economic Policy Uncertainty project, the U.S. Survey of Working Arrangements and Attitudes, the Global Survey of Working Arrangements, the Survey of Business Uncertainty, and the Stock Market Jumps project. He also co-organizes the Asian Monetary Policy Forum, held annually in Singapore. Before joining Hoover, Davis was on the faculty at the University of Chicago Booth School of Business, serving as both distinguished service professor and deputy dean of the faculty.
GenAI in the Workplace | Economics, Applied | Steven Davis, David Deming | Hoover Institution (00:40:07)
Steve speaks to Harvard professor David Deming about his recent research on the use of GenAI tools in the workplace and what it means for productivity. David’s evidence suggests that GenAI tools have already boosted U.S. labor productivity, with more gains to come. They also highlight the role of unfettered market-based experimentation in sorting out where GenAI tools work well, and where they don’t. In closing, David explains why he titles his substack newsletter Forked Lightning.
Recorded on February 19, 2025.
ABOUT THE SPEAKERS:
David Deming is the Isabelle and Scott Black Professor of Political Economy at the Harvard Kennedy School and Faculty Dean of Kirkland House at Harvard College. He has authored noteworthy and award-winning research on the long-run impacts of schooling, soft skills, social mobility, and many other topics. In 2018, he received the David N. Kershaw Prize for distinguished contributions to the field of public policy and management. In 2022, he received the Sherwin Rosen Prize for outstanding contributions to labor economics. In addition to his scholarly research and his substack newsletter, he writes for the New York Times and The Atlantic.
Steven Davis is the Thomas W. and Susan B. Ford Senior Fellow and Director of Research at the Hoover Institution, and Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR). He is a research associate of the NBER, IZA research fellow, elected fellow of the Society of Labor Economists, and consultant to the Federal Reserve Bank of Atlanta. He co-founded the Economic Policy Uncertainty project, the U.S. Survey of Working Arrangements and Attitudes, the Global Survey of Working Arrangements, the Survey of Business Uncertainty, and the Stock Market Jumps project. He also co-organizes the Asian Monetary Policy Forum, held annually in Singapore. Before joining Hoover, Davis was on the faculty at the University of Chicago Booth School of Business, serving as both distinguished service professor and deputy dean of the faculty.
RELATED RESOURCES:
Forked Lightning, David Deming’s substack newsletter
David Deming’s articles in The Atlantic and the New York Times
The ABC’s of Who Benefits from Working with AI: Ability, Beliefs, and Calibration
The rapid adoption of generative ai
“The Growing Importance of Social Skills in the Labor Market”
Hybrid corn: An exploration in economics of technological change
Do not go gentle into that good night, poem by Dylan Thomas
Organizational Technology Ladders: Remote Work and Generative AI Adoption” by Gregor Schubert
FOLLOW OUR GUEST ON SOCIAL MEDIA:
Follow David Deming on X: @ProfDavidDeming
Immigration and the Education of US-Born Children | Economics, Applied | Steven Davis, David Figlio, and Paola Sapienza| Hoover Institution (00:48:29)
Many parents – indeed, many Americans – worry that immigrant children in the classroom could detract from the quality of schooling received by U.S.-born children. It’s a reasonable concern. Today’s episode considers new evidence on how more vs. less exposure to immigrant students affects the educational performance of U.S.-born children, drawing on rich data for students at public schools in Florida.
Recorded on January 22, 2025.
ABOUT THE SPEAKERS:
David Figlio is the Gordon Fyfe Professor of Economics and Education at the University of Rochester and a visiting fellow at the Hoover Institution. He studies school accountability, the link between health and education, social welfare policies, and the academic profession. He collaborates frequently with state and local health and education agencies, and recently led a National Science Foundation-sponsored network to facilitate the use of matched administrative datasets to inform and evaluate education policy. He was elected to the National Academy of Education in 2017.
Paola Sapienza is the J-P Conte Family Senior Fellow at the Hoover Institution, where she co-directs the J-P Conte Initiative on Immigration. She is a faculty research fellow at the National Bureau of Economic Research, a research affiliate of the Center for Economic Policy Research, and a fellow of the European Corporate Governance Institute. Her main research focuses on the impact of cultural norms on economic decisions and outcomes. She applies these concepts to financial development, political economy, and education. Her work in education investigates how vertical and horizontal cultural transmission of preferences may affect educational outcomes.
Steven Davis is the Thomas W. and Susan B. Ford Senior Fellow and Director of Research at the Hoover Institution, and Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR). He is a research associate of the NBER, IZA research fellow, elected fellow of the Society of Labor Economists, and consultant to the Federal Reserve Bank of Atlanta. He co-founded the Economic Policy Uncertainty project, the U.S. Survey of Working Arrangements and Attitudes, the Global Survey of Working Arrangements, the Survey of Business Uncertainty, and the Stock Market Jumps project. He also co-organizes the Asian Monetary Policy Forum, held annually in Singapore. Before joining Hoover, Davis was on the faculty at the University of Chicago Booth School of Business, serving as both distinguished service professor and deputy dean of the faculty.
RELATED RESOURCES:
Diversity in schools: Immigrants and the educational performance of US-born students, Review of economic Studies, 2024.
Family disadvantage and the gender gap in behavioral and educational outcomes, American Economc Journal: Applied Economics, 2019.
Long-term orientation and educational performance, American Economic Journal: Economic Policy, 2019.
J-P Conte Initiative on Immigration
The Chinese Exclusion Act and U.S. Economic Development | Economics, Applied | Steven Davis and Nancy Qian | Hoover Institution (00:39:50)
Many Chinese nationals migrated to the western United States after 1840 to work in mining, railway construction, manufacturing, and personal services. By 1880, they made up 18 percent of the workforce in the western United States. That led to strong social and political backlash among whites, rooted partly in concerns about jobs and wages. Congress responded with the Chinese Exclusion Act of 1882, which banned the immigration of Chinese and shut the door to naturalization for Chinese already living in the U.S. The conversation in today’s episode focuses on two questions: First, how did the Chinese Exclusion Act affect economic development in the Western United States? Second, how did it affect white workers?
Recorded on January 9, 2024.
ABOUT THE SPEAKERS:
Nancy Qian is an empirical economist who studies economic development, political economy and economic history, with attention to the interplay between economics, geogrpahy, demographics, politics and culture. She co-directs the Global Poverty Research Lab at Northwestern University and founded the independent China Econ Lab.
Steven Davis is the Thomas W. and Susan B. Ford Senior Fellow and Director of Research at the Hoover Institution, and Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR). He is a research associate of the NBER, IZA research fellow, elected fellow of the Society of Labor Economists, and consultant to the Federal Reserve Bank of Atlanta. He co-founded the Economic Policy Uncertainty project, the U.S. Survey of Working Arrangements and Attitudes, the Global Survey of Working Arrangements, the Survey of Business Uncertainty, and the Stock Market Jumps project. He also co-organizes the Asian Monetary Policy Forum, held annually in Singapore. Before joining Hoover, Davis was on the faculty at the University of Chicago Booth School of Business, serving as both distinguished service professor and deputy dean of the faculty.
RELATED RESOURCES:
The Long-run Impact of the Chinese Exclusion Act, working paper, September 2024.
Immigrants and the Making of America, Review of Economic Studies, 2020.
FOLLOW OUR GUEST ON SOCIAL MEDIA:
Nancy Qian on: Project Syndicate
Nancy Qian's website: nancyqian.org
Economic Sanctions on Russia | Economics, Applied | Steven Davis, Oleg Itskhoki, and Elina Ribakova | Hoover Institution (00:50:44)
Oleg Itskhoki and Elina Ribakova join host Steven Davis to discuss two big questions about economic statecraft: How have economic and financial sanctions on Russia affected its economy and its war-fighting capabilities? More broadly, when are sanctions likely to be effective, ineffective, or downright counterproductive?
ABOUT THE SPEAKERS:
Oleg Itskhoki is a professor of economics at Harvard, a research associate of the NBER, CPER research affiliate, and an associate editor of the American Economic Review. He previously held faculty positions at UCLA and Princeton. Among his other honors, he is a fellow of the Econometric Society and a recipient of the 2022 John Bates Clark Medal.
Elina Ribakova is a nonresident senior fellow at the Peterson Institute for International Economics and director of the International Affairs Program and vice president for foreign policy at the Kyiv School of Economics. Her previous positions include managing director and head of Europe, Middle East and Africa Research at Deutsche Bank and director and chief economist for Russia and the Commonwealth for Independent States at Citigroup.
Steven Davis is the Thomas W. and Susan B. Ford Senior Fellow and Director of Research at the Hoover Institution, and Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR). He is a research associate of the NBER, IZA research fellow, elected fellow of the Society of Labor Economists, and consultant to the Federal Reserve Bank of Atlanta. He co-founded the Economic Policy Uncertainty project, the U.S. Survey of Working Arrangements and Attitudes, the Global Survey of Working Arrangements, the Survey of Business Uncertainty, and the Stock Market Jumps project. He also co-organizes the Asian Monetary Policy Forum, held annually in Singapore. Before joining Hoover, Davis was on the faculty at the University of Chicago Booth School of Business, serving as both distinguished service professor and deputy dean of the faculty.
RELATED RESOURCES:
The Economics of Sanctions: From Theory Into Practice, prepared for the Brookings Papers on Economic Activity, September 2024
Western Companies Are Still Fueling Russia’s War Machine, Financial Times, 23 July 2024.
Russian Economy on War Footing, Centre for Economic Policy Research, May 2024.
Russia’s New Economy May End Up Prolonging its War, Peterson Institute, 24 July 2024.
The Oil Price Cap and Embargo on Russia Are Working Imperfectly, and Defects Must Be Fixed, Peterson Institute, 13 July 2023.
International Sanctions and Limits of Lerner Symmetry, AEA Papers & Proceedings, May 2023.
The U.S. Technology Fueling Russia’s War in Ukraine: How and Why, Congressional Testimony, 24 February 2024.
Sanctions and the Exchange Rate, 18 February 2023.
FOLLOW OUR GUESTS ON SOCIAL MEDIA:
Oleg Itskhoki on X: x.com/itskhoki?lang=en
Elina Ribakova on X: x.com/elinaribakova
Elina Ribakova on LinkedIn: linkedin.com/in/eribakova/
New Insights on Remote Work | Economics, Applied | Steven Davis and Nicholas Bloom | Hoover Institution (00:49:16)
Hoover Senior Fellow Steven Davis and Stanford Economics Professor Nick Bloom review insights from the latest research on remote work, drawing on a recent conference at Stanford University. Steve and Nick discuss Return-to-Office mandates (RTOs) and their impact on company performance, and long-distance CEOs and why companies hire them. They also explore how remote work facilitated a boom in business start-ups, recent employment gains among people with disabilities, the high value of flexible working arrangements for parents, hard times for burglars, good times for golf, and more.
ABOUT THE SPEAKERS:
Nicholas (Nick) Bloom is the William Eberle Professor of Economics at Stanford University. His research focuses on working from home, management practices, and uncertainty. He previously worked at the Treasury of the United Kingdom, McKinsey & Company, and the Institute for Fiscal Studies (IFS).. He has a BA from Cambridge, an MPhil from Oxford, and a PhD from University College London.
He is a fellow of the American Academy of Arts and Sciences, a recipient of the Guggenheim and Sloan Fellowships, the Frisch Medal, and a National Science Foundation Career Award. In 2022, he was named among the “Bloomberg 50” people and ideas that defined global business for his insights on working from home.
Steven Davis is the Thomas W. and Susan B. Ford Senior Fellow and Director of Research at the Hoover Institution, and Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR). He is an economic adviser to the U.S. Congressional Budget Office, elected fellow of the Society of Labor Economists, and consultant to the Federal Reserve Bank of Atlanta. He co-founded the Economic Policy Uncertainty project, the U.S. Survey of Working Arrangements and Attitudes, the Global Survey of Working Arrangements, the Survey of Business Uncertainty, and the Stock Market Jumps project. He co-organizes the Asian Monetary Policy Forum, held annually in Singapore. Before joining Hoover, Davis was on the faculty at the University of Chicago Booth School of Business, serving as both distinguished service professor and deputy dean of the faculty.
RELATED RESOURCES:
Hoover Institution Conference on The Implications of Remote Work
Conference Coverage
Two Beers, A Pandemic, and a Workplace Revolution
The Evolution of Work from Home
Hybrid Working from Home Improves Retention without Damaging Performance
WFHresearch.com
Survey of Working Arrangements and Attitudes
WFH Map Project
FOLLOW OUR SPEAKER ON SOCIAL MEDIA:
Nick Bloom on LinkedIn: linkedin.com/in/nick-bloom-86b79510b/
Nick Bloom on X: x.com/I_Am_NickBloom
Recent U.S. Immigration: How Big? Who? What Impact? | Economics, Applied | Steven Davis, Wendy Edelberg and Madeline Zavodny | Hoover Institution (00:46:31)
Host Steven Davis engages Wendy Edelberg and Madeline Zavodny to discuss the recent wave of U.S. immigration and some of its implications. They discuss the surge in immigration since 2021, the extent to which it reflects unlawful entry, its impact on employment growth, its fiscal consequences, and the failure of U.S. statistical authorities to accurately measure the scale of the surge in real time. They also provide historical context by comparing recent immigration waves from Latin America to past influxes from Europe and Asia. Lastly, the guests discuss potential policy changes to raise the economic benefits of immigration and address fiscal impacts on local governments.
For more episodes about immigration:
The Political Reaction to Immigration
Immigrants and Innovation in the United States
ABOUT THE SPEAKERS:
Wendy Edelberg is a senior fellow in Economic Studies at the Brookings Institution, where she directs the Hamilton Project. Previously, she served as Principal Chief Economist at the Congressional Budget Office and executive director of the Financial Crisis Inquiry Commission. She worked for the President’s Council of Economic Advisers during two administrations. She co-chairs the National Academies of Sciences, Engineering, and Medicine’s Climate and Macroeconomics Roundtable and is a member of the National Academy of Social Insurance. She earned her Ph.D. in economics from the University of Chicago.
Madeline Zavodny is the Donna L. Gibbs and First Coast Systems Professor of Economics at UNF. She is also a Research Fellow at the Institute of Labor Economics (IZA), Fellow at the Global Labor Organization, and Adjunct Scholar at the American Enterprise Institute. Her research focuses on economic issues related to immigration, including Beside the Golden Door: U.S. Immigration Reform in a New Era of Globalization (AEI Press, 2010) and The Economics of Immigration (Routledge, 2015; 2nd ed. 2021). Before joining UNF she was a professor of economics at Agnes Scott College and Occidental College and an economist with the Federal Reserve Bank of Atlanta and the Federal Reserve Bank of Dallas. She earned her Ph.D. in Economics from MIT.
Steven Davis is the Thomas W. and Susan B. Ford Senior Fellow and Director of Research at the Hoover Institution, and Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR). He is an elected fellow of the Society of Labor Economists and a consultant to the Federal Reserve Bank of Atlanta. He co-founded the Economic Policy Uncertainty project, the U.S. Survey of Working Arrangements and Attitudes, the Global Survey of Working Arrangements, the Survey of Business Uncertainty, and the Stock Market Jumps project. He co-organizes the Asian Monetary Policy Forum, held annually in Singapore. Before joining Hoover, Davis was on the faculty at the University of Chicago Booth School of Business.
RELATED RESOURCES:
New Immigration Estimates Help Make Sense of the Pace of Employment
Waiting to work: employment among dependent spouses of H-1B visa holders in the U.S.
Immigrants and Their Effects on Labor Market Outcomes of Natives
Unprecedented U.S. Immigration Surge Boosts Job Growth, Output
Public Education for Immigrant Students: Understanding Plyer v. Doe
The Economics of Immigration
FOLLOW OUR SPEAKERS ON SOCIAL MEDIA:
Wendy Edelberg: x.com/WendyEdelberg
Madeline Zavodny: x.com/madelinezavodny
