NEWS/OPINION

Financial Times: Threat of catastrophe stalks developing world

April 3, 2020

Ricardo Hausmann in Financial Times

Governments are fighting to keep the coronavirus pandemic at bay and their economies afloat

...

Still, Ricardo Hausmann, a Venezuelan development economist at Harvard University, is not holding out great hope. “The situation in the advanced economies is likely to be much more benign than what developing countries are facing.”

Mr Hausmann says developing economies have been left in the lurch both in terms of their ability to fight the pandemic and to counter its economic impact. Even in the best of times...

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Business Day: Lockdowns are not sustainable, says economist Hausmann

April 2, 2020

Ricardo Hausmann in Business Day

A lockdown is not sustainable and can bankrupt economies, especially those without fiscal space, says renowned economist Ricardo Hausmann.

Fiscal space generally refers to the availability of budgetary room that enables a government to provide resources for a desired purpose without compromising its ability to finance its operations and other obligations such as debt servicing.

Coronavirus will be an even deadlier pandemic in developing countries

March 27, 2020

Ricardo Hausmann in Miami Herald

While we are all watching the news about the explosion of COVID-19 cases in the United States, Spain and Italy, we will soon face a bigger problem.

After talking with almost a dozen experts from some of the world’s leading universities, I’m much more worried about what might soon happen in Africa, Latin America and the Caribbean than about the latest U.S. or European pandemic statistics.

...

Harvard University professor Ricardo Hausmann, an expert in global development issues, told me that the United...

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Flattening the COVID-19 Curve in Developing Countries

March 24, 2020

Ricardo Hausmann - Project Syndicate

COVID-19 is ravaging advanced economies such as Italy, France, Spain, and the United States. Beyond the deaths and human suffering, markets are discounting a catastrophic recession accompanied by massive defaults, as expressed in the radical repricing of corporate credit risk by financial markets.

Latin America, With Few Bullets to Spare

March 18, 2020

Eduardo Levy Yeyati - Americas Quarterly

At a moment when advanced economies are debating whether to fund ambitious fiscal packages with zero-interest rate Treasury debt or central bank (“helicopter”) money, we in Latin America feel like the heroes in John Ford´s classic 1930s Western film Stagecoach: Surrounded by enemies, and with precious few fiscal bullets to spare.

Indeed, emerging economies have suffered the double shock of a flight-to-quality increase in financial costs and a commodity price decline that narrows the room for fiscal policy to respond...

Does Anyone Really Know What Socialism Is?

March 4, 2020

Ricardo Hausmann - Freakonomics

Trump says it would destroy us. Sanders says it will save us. The majority of millennials would like it to replace capitalism. But what is “it”? We bring in the economists to sort things out and tell us what the U.S. can learn from the good (and bad) experiences of other (supposedly) socialist countries.

Europe’s Green Future Starts in Ethiopia

February 4, 2020

Ricardo Hausmann - Project Syndicate

The European Union's ambitious new Green Deal promises to make the bloc carbon-neutral by 2050, while creating new jobs and raising living standards. But, given that Europe accounts for only 10% of global carbon emissions, the true test of its green agenda lies in its willingness to help others with their own sustainable development.

Harvard researchers studied 9 million people to discover the surprising secret to career success

January 16, 2020

Frank Neffke - Fast Company

A Harvard study has pinpointed the secret to career success: choosing the right coworkers. The researchers looked at everyone in Sweden (then nine million people) over 10 years, tracing their educations, jobs, and coworker histories. They found that coworkers with complimentary skills and educations earned higher wages, and that those wages rose even further for workers with teammates who had few skills similar to their own. “...

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How Coworkers Impact the Value of Your Skills

December 18, 2019

Research at Harvard’s Growth Lab finds that skills of coworkers may matter as much as a worker’s own skills when it comes to earning high wages

Contact: Chuck McKenney
Email: chuck_mckenney@hks.harvard.edu
Phone: (617) 495-8496

Cambridge, Massachusetts - In today’s world, most workers are highly specialized, but this specialization can come at a cost – especially for those on the wrong team. New research by Harvard’s Growth Lab uncovers the importance of teams and coworkers when it comes to one’s productivity, earning potential, and stays of...

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The Cure for Populism Is Equal Opportunity

October 25, 2019

Eric Protzer, Paul Summerville - Foreign Policy

he People’s Party of Canada (PPC), a cousin of the populist movements springing up in many advanced democracies, got badly trounced in the recent federal election. Maxime Bernier, the self-styled populist leader and founder of the PPC, even lost his seat in Beauce, Quebec, in the process. The PPC polled less than 2 percent of the popular vote, finished sixth among national political parties, and is now expected to close shop.

The PPC’s stark failure stands in contrast to populist success in other Western...

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