Public Economy

Economics is a discipline concerned with the consumption, production, and transfer of wealth by and among individuals (microeconomics) and communities or nations (macroeconomics); subspecialties range from economic development and planning to health economics and international economic relations. RAND's many economists contribute to multidisciplinary research projects by exploring the intersections where economics informs social, military, and governmental policy decisions.

  • Britain's Prime Minister Theresa May delivers a speech to Conservative Party members to launch their election campaign in Walmsley Parish Hall, Bolton, Britain April 19, 2017

    Commentary

    The Snap Election, What's in it for Theresa May?

    Why would Theresa May take the risk of a national election, which otherwise wouldn't be needed until 2020, and what does she expect to gain from it? Calling an election now enables May to take decisive control of her party and should strengthen her hand in the Brexit negotiations.

    Apr 23, 2017

  • Report

    The impact of the National Minimum Wage on employment: A meta-analysis

    The report considers the effects of the UK national minimum wage on different labour market sub-groups since 1999. The findings suggest that increases in the national minimum wage had no negative employment effects on the overall UK labour market.

    Apr 20, 2017

  • Empty courtroom with scales of justice

    Commentary

    Discount Justice: Fiscal Austerity and State Courts

    Budget cuts at the state court level can mean courthouse closures, hiring freezes and layoffs, leading to longer wait times for the public. Educating the public about the role and importance of the state courts is key to preventing more budget cuts in the future.

    Apr 18, 2017

  • Research Brief

    Why sleep matters: The economic costs of insufficient sleep

    Improving individual sleeping habits has huge implications. Small increases in sleep can make big differences to national economies. RAND Europe's novel study quantifies the economic and social costs of insufficient sleep among the global workforce.

    Apr 17, 2017

  • A fleet of ships sail out at sea as China and Russia's naval joint drill concludes in China

    Testimony

    Chinese Political and Military Thinking Regarding Taiwan and East and South China Seas

    Official Chinese documents and scholarly writings provide insight into how Chinese leaders consider potential conflict with Taiwan and in the East and South China Seas—and how they might regard escalation in any conflict involving U.S. forces.

    Apr 13, 2017

  • U.S. President Donald Trump and China's President Xi Jinping at the Mar-a-Lago estate after a bilateral meeting in Palm Beach, Florida, April 7, 2017

    Commentary

    Rocky Road Ahead Likely for U.S.-China Relations

    The first summit with President Trump and China's President Xi Jinping downplayed contentious issues like Taiwan and the South China Sea. But the differences run deep, and frustration is palpable on both sides. Moreover, the competition for international leadership continues.

    Apr 11, 2017

  • An American flag behind a chess board

    Commentary

    A Three-Menu Path for Trump Foreign Policy

    The Trump administration would benefit from a comprehensive strategic orientation — a basic set of operating principles backed by a set of actions and realistic budget — to guide the innumerable tactical decisions of U.S. foreign policy.

    Apr 10, 2017

  • The first C919 passenger jet made by the Commercial Aircraft Corp of China (Comac) during a news conference at the company's factory in Shanghai, November 2, 2015

    Report

    Chinese Investment in U.S. Aviation Not a Threat to Competitiveness

    Since 2005, Chinese companies have acquired, merged, or established joint ventures with over 12 U.S. aviation companies. The investment has been limited to smaller manufacturers of technologies not relevant to commercial or military aircraft, due to effective U.S. export and foreign investment regulations.

    Apr 10, 2017

  • Gibraltar profile with Euro flag

    Commentary

    This Latest Gibraltar Dispute Is a Sign of Things to Come

    In many ways, Gibraltar is the first Brexit issue where both the UK and EU find themselves stuck between a rock and a hard place. How this diplomatic problem is resolved now could help set the tone for Brexit negotiations during the next two years.

    Apr 5, 2017

  • British Prime Minister Theresa May signs the official letter invoking Article 50 and the UK's intention to leave the EU, March 28, 2017, London

    Commentary

    Brexit and the Politics of Raising Barriers

    A lot is known about bringing new members into alliances and trade relationships. Not much is known about dismantling these bonds peaceably. Since Brexit will be more about adding barriers than taking them down, it will be a leap into the dark.

    Mar 29, 2017

  • A man walks past the European Commission headquarters on which is displayed a banner celebrating 60 years after the signing of the Treaty of Rome, Brussels, Belgium, March 20, 2017

    Commentary

    Sixty Years Later European Integration Has Benefited EU Countries

    Sixty years after the Treaty of Rome, the EU is facing one of its most challenging periods. Closer ties and shared values across EU member states have provided social and economic benefits but any moves towards closer integration in Europe will fail to materialize in the absence of political will.

    Mar 28, 2017

  • U.S. President Donald Trump and Vice President Mike Pence attend a meeting with congressional leaders to discuss trade deals at the White House in Washington, February 2, 2017

    Commentary

    Strategic Consequences of U.S. Withdrawal from TPP

    America's withdrawal from the Trans-Pacific Partnership has exacerbated doubts about U.S. international leadership and America's role in Asia. Future trade agreements could face similar fates until they do a better job outlining how domestic workers can prosper.

    Mar 27, 2017

  • Journal Article

    Economies of Scale and Scope in Publicly Funded Biomedical and Health Research: Evidence from the Literature

    Publicly funded biomedical and health research is expected to achieve the best return possible for taxpayers and for society generally. It is therefore important to know whether such research is more productive if concentrated into a small number of 'research groups' or dispersed across many.

    Mar 16, 2017

  • Dissertation

    Three Essays on Growth Econometrics

    Three essays exploring large discrepancies between different panel datasets of cross-country estimates of gross domestic product.

    Mar 15, 2017

  • Events @ RAND Audio Podcast

    Multimedia

    Tipping Points in the Arctic

    In this Events @ RAND podcast, a panel of experts discuss several potential economic, environmental, and political "game changers" that could affect strategic decisions in the Arctic region.

    Mar 2, 2017

  • The sun sets on Ice Camp Sargo during Ice Exercise 2016 at the Arctic Circle, March 8, 2016

    Report

    How to Maintain Arctic Cooperation with Russia

    Despite tensions between Russia and the West, Arctic cooperation has remained intact. But America should prepare for changes that may alter Moscow's incentives. These include rising interest in Arctic resources and greater maritime access due to climate change.

    Mar 2, 2017

  • A young woman uses her smartphone in bed at night

    Essay

    The Costs of Poor Sleep Are Staggering

    Research shows that a little more sleep could help America's families, military, and economy.

    Mar 1, 2017

  • Dissertation

    Let There Be Light: Green Industrial Policy and Energy Access in India

    Explores the competitiveness of India's domestic manufacturing across the supply chain; barriers and enablers to developing a domestic industry; and the cost of industrial policy support.

    Feb 27, 2017

  • Announcement

    Nobel Laureate Kenneth J. Arrow, a RAND Consultant Since 1948, Dies at 95

    Kenneth J. Arrow, whose groundbreaking work shaped scholarly thinking about such critical issues as the fairness of democratic elections, climate change and the cost of health care, has died.

    Feb 22, 2017

  • New shoe and old shoe side by side.

    Commentary

    Trends in Inequality and the World's Eight Richest Men

    While Oxfam reports have done a good job of bringing attention to the problem of inequality, they may give the false impression that global inequality has been rising instead of falling. Global inequality has actually been on the decline while inequality within the developed world is increasing.

    Feb 10, 2017