Economics

Journal of Happiness Studies - Using PISA 2018 data from nearly half a million 15-year-olds across 72 middle- and high-income countries, this study investigates the relationship between economic...

This paper considers top income taxation when (i) new ideas drive economic growth, (ii) the reward for successful innovation is a top income, and (iii) innovation cannot be perfectly targeted by a research subsidy—think about the business methods of Walmart, the creation of Uber, or the “idea” of Amazon. These conditions lead to a new force affecting the optimal top tax rate: by slowing the creation of new ideas that drive aggregate GDP, top income taxation reduces everyone’s income, not just income at the top. This force sharply constrains both revenue-maximizing and welfare-maximizing top tax rates.

Recent research concludes that the rise in consumption inequality mirrors, or even exceeds, the rise in income inequality. We revisit this finding, constructing improved measures of consumption, focusing on its well-measured components that are reported at a high and stable rate relative to national accounts. While overall income inequality rose over the past 5 decades, the rise in overall consumption inequality was small. The declining quality of income data likely contributes to these differences for the bottom of the distribution. Asset price changes likely account for some of the differences in recent years for the top of the distribution.

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The Canadian wildfire crisis is extending beyond national borders, impacting communities and imposing external costs on individuals far removed from the fire's path.

Georgia peaches will be missing from most produce stands this year. Peach farmers across Middle Georgia say their crop has been all but wiped out by an unusually warm winter, which caused fruit development earlier than normal, followed by a brutal cold snap in March that killed the nascent buds.

America’s fastest-growing sport has a noise problem. Can the solution be found in a makeshift lab outside Pittsburgh?

Despite the recent wave of layoffs in the tech sector, demand for digital talent is as robust as ever, with employers struggling to fill positions.

Grocery-retailer consolidation is damaging our food system, stifling innovation and making everything more expensive.

The agreement secures some GOP priorities on spending, permits and the safety net, but left the heart of President Joe Biden's agenda intact — at least until the next fight.

America’s top-selling beer is no longer American.

States have different rules for what can be sold at farmers markets, and some states have no rules at all.

Leading processed seaweed makers plan to raise prices by up to 40%

Carmakers including Tesla and BMW are omitting AM tuners from electric vehicles, citing interference with the frequencies used by broadcasting.

Don’t worry: The fine went to one of the richest people in Finland.

Whether or not to fork over the money has divided various groups in Nevada, which relies on tourism and entertainment for a disproportionate share of its economy.

America’s fastest-growing sport has a noise problem. Can the solution be found in a makeshift lab outside Pittsburgh?

T.J. Maxx and Marshall’s parent company TJX made almost $50 billion last year – more than Nordstrom and Macy’s combined. A decades-old TJ Maxx commercial promises customers “the max for the minimum price” and says the store is “never the same place twice.” But how does the clothing store get its inventory and sell it at such a discount? WSJ explains how the off-price retailer gains its inventory and uses consumer psychology to keep customers coming back for more. 0:00 TJ Maxx’s core strategy 0:46 Price anchoring 3:06 Inventory 5:10 Pandemic’s effects The Economics Of How do the world's most successful companies generate revenue? In this explainer series, we'll dive into the surprising stories behind how businesses work--exploring everything from Costco's "treasure-hunt" model to the economics behind Amazon's AWS. #TJMaxx #Fashion #WSJ

Buy now, pay later (BNPL) services let you pay off purchases over time, but they can cost shoppers.

The forthcoming overhaul of the Internal Revenue Service is intended to increase audits of the wealthy and big corporations while leaving audit rates on average households the same, according to a plan released by the agency Thursday.

“RT @micsolana: san francisco is voting to indefinitely ban all new weed shops in the city because current shop owners have complained there…”

Businesses compete against each other all the time. What are the consequences for society of this competition? In this episode, I have a conversation with Da...

Whether or not to fork over the money has divided various groups in Nevada, which relies on tourism and entertainment for a disproportionate share of its economy.

A proposal to help finance a new ballpark for Major League Baseball's Athletics in Las Vegas has revived nationwide debates about public funding for private stadiums. And that has pitted Nevada’s powerful tourism industry and labor unions against some progressive groups, raising concerns about ceding tax revenue when services such as public schools are funded below the national average. Proponents say the proposal could create new jobs, increase the state’s general revenue and further diversify the city's casino and gaming-based economy. But skeptics warn of empty promises, citing growing evidence that minimal dollars generated from the new stadium would not otherwise be spent among nearby resorts and restaurants.

Alternative milks remain the darling of plant-based growth but record high inflation and a deluge of innovations are slowing product movement.

Here are six basic yet vital tips to help young adults keep their debt burden down and their net worth climbing.

Amazon denied that such a plan was in the works.