News

THE HILL article, "Stop Enabling Kleptocrats: More Must be Done to Stem the Influx of Dirty Money to West" By James K. Boyce and Léonce Ndikumana

The sanctions imposed on Russia in response to its aggression in Ukraine highlight the crucial role of transnational finance in enabling corrupt and autocratic regimes to flourish. Assets held abroad by specific members of the Russian elite have been frozen because they “shared in the corrupt gains of the Kremlin,” as U.S. Deputy National Security Adviser Daleep Singh explains, “and they will now share in the pain.”  But after-the-fact efforts to identify and freeze the foreign assets of individual oligarchs are not enough: we also can and should do more to stem the massive influx of dirty money from throughout the world into Western economies. The breadth and depth of the sanctions announced so far have been constrained by fears of collateral damage not only to the Russian populace but also to Western economies. The reluctance of Germany and others to face energy shortages, for example, has prevented use of the “nuclear option” of fully blocking Russian access to SWIFT, the worldwide electronic banking network used to pay for imported gas and oil.  Read the article...

James Boyce Interviewed by Faith Family America on Climate Mitigation

Professor Emeritus and Senior Fellow at The Political Economy Research Institute of University of Massachusetts James K. Boyce was interviewed by Faith Family America on Climate Mitigation. Boyce points out that policies for climate adaptation are necessary. There are also intermediate steps that can help climate stabilization. These include carbon pricing and the adoption of a universal basic-income scheme to combat the effects of global warming. Read the interview...   

UMass Economics Ph.D. Student, Nicolas Bohme Appointed to Key Position in Chilean Ministry of Finance

UMass Amherst Econ PhD Candidate Nicolás Bohme will be named Coordinator of Tax Policy at the Ministry of Finance in the new government of President Gabriel Boric in Chile.  Bohme will lead an ambitious progressive tax-reform program, which is among the new Government's highest priorities for structural reform. The new administration seeks to finance productive economic transformation and expansion of the Chilean welfare state through a package of taxes on capital income, wealth, and natural resources extraction, especially copper, which represents almost half of Chilean exports.  According to Bohme, “The reforms will finance the government program in a fiscally responsible manner and align us with other developed countries in terms of progressivity and revenue as a percentage of GDP." Bohme also emphasized the fairness of the plan. "The fundamental consensus is that any increase in tax collection must be carried out with progressive instruments." Progressive taxation means that higher-income households pay a higher share of their incomes in taxes.  Read more...

2022 Philip Gamble Memorial Lecture with Mariana Mazzucato

2022 Philip Gamble Memorial Lecture
Mariana Mazzucato
April 12, 2022, 5:30-7:00pm ET
Campus Center Auditorium
Directing Economic Growth: A Mission-Oriented Approach

Can't attend in person?
The lecture will be live-streamed

 

This lecture will make the case for rethinking the role of government in the economy so that it is better equipped to deal with the greatest challenges of our times—health pandemics, climate change and the digital divide. It will draw on Professor Mazzucato's recent widely acclaimed book, Mission Economy: a moonshot guide to changing capitalism, and focus on the need to move away from a reactive market fixing approach to a market shaping one. The lecture will give examples on the ‘how’: from ‘outcomes’ based budgeting, to redesigning procurement to nurture bottom up solutions, to a new symbiotic (versus parasitic) partnerships between the public and private sectors—walking the talk of stakeholder value. 

 

Katherine Moos and the Levy Economics Institute Receives $80,000 Grant to Explore Links Between Public Spending and Economic Insecurity

The Levy Economics Institute of Bard College has been awarded a $80,000 grant by the Groundwork Collaborative to investigate the connections between public spending and economic insecurity among US households. The project—undertaken by Levy Institute scholars Luiza Nassif-Pires, Ajit Zacharias, Thomas Masterson, and Fernando Rios-Avila, and in consultation with Katherine Moos, Assistant Professor of Economics at the University of Massachusetts Amherst—will focus on the distributional effects of public spending from an intersectional perspective: breaking down the impacts on economic well-being with respect to age, race, gender, education, and class. Read more ...

UMass Economics Student Amanda Desmond Named A 2022 Brooke Owens Fellow

Amanda Desmond, a junior economics and space science major in the University of Massachusetts Commonwealth Honors College, has been named one of 51 Brooke Owens Fellows for 2022. Desmond, a native of Beverly, Mass., is the first student selected for the program from the University of Massachusetts system. During the summer of 2022, she will spend 12 weeks with Voyager Space Holdings in Denver working directly with the firm’s CEO, Dylan Taylor. The Brooke Owens Fellowship is a New York-based nonprofit program that recognizes exceptional undergraduate women and other gender minorities with space and aviation internships, senior mentorship, and a lifelong professional network. The fellowship was founded in 2016 to honor the memory of beloved industry pioneer and accomplished pilot D. Brooke Owens, who died from cancer that June at age 35.  Read more...

Book Launch: "On the Trail of Capital Flight from Africa: The Takers and the Enablers" by Leonce Ndikumana and James K. Boyce

Book Launch Event, "On the Trail of Capital Flight from Africa: The Takers and the Enablers" by Leonce Ndikumana and James K. Boyce will take place on March 25th, at 3:00pm ET in the Gordon Hall conference room.  The launch seminar will be chaired by Distinguished Professor and Co-Director of PERI, Robert Pollin and it will be hybrid – face to face with remote connection on zoom. On the Trail of Capital Flight from Africa investigates the dynamics of capital flight from Angola, Côte d'Ivoire, and South Africa, countries that have witnessed large-scale illicit financial outflows in recent decades. Quantitative, qualitative, and institutional analysis for each country is used to examine the modus operandi of capital flight; that is, the 'who', 'how', and 'where' dimensions of the phenomenon. 'Who' refers to major domestic and foreign players; 'how' refers to mechanisms of capital acquisition, transfer, and concealment; and 'where' refers to the destinations of capital flight and the transactions involved. The Zoom link will be posted a few days before the event. 

Michael Ash Contributes to Climate Justice Report

Professor Michael Ash of the UMass Amherst School of Public Policy and Department of Economics is part of an interdisciplinary team from UMass and Tufts University researching social justice in federal flood mitigation funding. The team of faculty members and undergraduate researchers, led by UMass finance professor Mila Getmansky Sherman and Tufts civil and environmental engineering professor Deborah Sunter, reported their research in December at the fall online meeting of the American Geophysical Union. Read More...

Ina Ganguli Appointed to the Board of Committee on the Status of Women in the Economics Profession

Ina Ganguli, Associate Professor of Economics and Associate Director of the UMass Computational Social Science Institute has been appointed to the board of CSWEP (Committee on the Status of Women in the Economics Profession). A standing committee of the American Economic Association since 1971, the Committee on the Status of Women in the Economics Profession (CSWEP) serves professional women economists by monitoring their progress and promoting their careers. Read more...

James Boyce paper co-authored with alums Klara Zwickl and Simon Sturn "Effects of Carbon Mitigation on Co-pollutants at Industrial Facilities in Europe" wins the Energy Journal Best Paper Award for 2021

Umass Professor Emeritus James Boyce paper "Effects of Carbon Mitigation on Co-pollutants at Industrial Facilities in Europe" co-authored with Klara Zwickl and Simon Sturn both of whom received their PhDs in economics at UMass has won the Energy Journal Best Paper Award for 2021. Every year the International Association for Energy Economics (IAEE) awards a best paper award for the best paper in the six regular issues of The Energy Journal (the Campell Watkins The Energy Journal Best Paper Award). The award will be presented to them at the IAEE International conference in Tokyo Japan, July 31 – August 3, 2022.

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