Economic Science

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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.

  • Israel's Prime Minister Benjamin Netanyahu, U.S. President Donald Trump, and UAE Foreign Minister Abdullah bin Zayed sign the Abraham Accords in Washington, September 15, 2020, photo by Tom Brenner/Reuters

    Report

    The Abraham Accords Could Have Wide-Reaching Economic Benefits

    Mar 18, 2021

    The Abraham Accords between Israel and Muslim nations represent a possible new chapter in the region's development—away from conflict and toward a shared vision of economic prosperity. Israel's partners could gain 150,000 new jobs. And that could grow to 4 million new jobs over a decade if other nations join.

  • Game pieces atop stacks of coins of various heights, depicting income inequity, photo by Andrii Zastrozhnov/Getty Images

    Research Brief

    A New Approach to Measuring Income Inequality

    Apr 30, 2021

    A new method for measuring income inequality reveals that, from 1975 to 2018, the only group for which actual income gains exceeded U.S. GDP growth was the group near the 99th percentile of income distribution.

Explore Economics

  • U.S. Deputy Secretary of State Wendy Sherman meets with Cambodian Prime Minister Hun Sen in Phnom Penh, Cambodia, June 1, 2021, photo by U.S. Embassy Phnom Penh/Public Domain

    Commentary

    Could the U.S. Play Offense in China's Back Yard?

    Relations with Cambodia and Laos have fallen victim to the U.S. administration's foreign policy priority of shared values over shared interests. This approach has failed to make headway in Cambodia and Laos, isolates the United States in a region where few countries are true democracies, and unnecessarily cedes ground to Beijing.

    Jan 13, 2022

  • “Checkmate,” the new Sukhoi fifth-generation stealth fighter jet, at the opening ceremony of the MAKS 2021 air show in Zhukovsky, Russia, July 20, 2021, photo by Tatyana Makeyeva/Reuters

    Commentary

    Is Russia's Su-75 'Checkmate' Aircraft a Case of Vapor Marketing?

    During a Moscow air show last summer, Russia rolled out a mockup of the Su-75, a multipurpose fighter-bomber designed to compete in the global marketplace. But given the Russian aerospace sector's difficulties in developing, let alone delivering, advanced combat aircraft, prospective buyers should consider a range of options to meet defense needs.

    Jan 6, 2022

  • Journal Article

    Journal Article

    Decoupling from China: How U.S. Asian Allies Responded to the Huawei Ban

    The paper analyzes how Australia, Japan, and South Korea responded to Washington's expectations of mutual support on the decoupling of Chinese technology companies from global supply chains.

    Jan 6, 2022

  • Report

    Report

    Proceedings of the U.S.-Japan Socioeconomic Policy Research Exchange: The Rise of Telework Under COVID-19 and the Growth of Cryptocurrency

    This volume captures insights from two conferences that brought together leading U.S. and Japanese experts to explore the implications of recent growth in teleworking, working from home, cryptocurrency, and blockchain in the United States and Japan.

    Jan 5, 2022

  • U.S. President Joe Biden participates virtually in the annual U.S.-ASEAN Summit at the White House in Washington, D.C., October 26, 2021, photo by Gripas Yuri/ABACA via Reuters Connect

    Commentary

    Biden's Southeast Asia Policy Still Has Much to Prove

    As the Biden administration's first year comes to a close, how is the United States faring in Southeast Asia? Washington got a lot right, but it could do better to optimize competition against China and work on a more sensitive understanding of the delicate and at times precarious position Southeast Asian states are in.

    Dec 17, 2021

  • Blog

    Gender Pay Gap Among Doctors, America's Labor Shortage, 'Hacking Equity': RAND Weekly Recap

    This weekly recap focuses on the pay gap between female and male doctors, understanding America’s weird job market, social and emotional learning, and more.

    Dec 17, 2021

  • Photographic data visualization by Gabrielle Mérite representing the prices of brand-name drugs with real money on a blue background. For the same pill, the U.S cost is $10 while Germany and Canada’s cost would be $3.50, Japan's $3.25, the UK's $3.00 and Mexico's $2.75.

    Project

    Comparing International Prescription Drug Prices

    Prescription drug prices in the United States average 2.56 times those in 32 other nations. In a new animation, information designer Gabrielle Mérite illustrates this subject that may seem distant from American consumers but has a concrete impact on their health and finances.

    Dec 14, 2021

  • The words Hacking Equity on a black background with abstract lines and squares, image by Peter Soriano/RAND Corporation

    Blog

    Hackathon Introduces Undergraduate Students to Public Policy Research

    For three weeks in October and November, undergraduates from Clark Atlanta University, Morehouse College, and Spelman College teamed up with Pardee RAND doctoral students to explore how vulnerable communities have fared during the pandemic and envision policies that might produce a more equitable recovery.

    Dec 10, 2021

  • Father having a video call with doctor for sick daughter, photo by FatCamera/Getty Images

    News Release

    Greater Adoption of Telemedicine Could Reap Benefits for the Canadian Economy of Nearly 6 Billion CAD Annually

    Increasing the use of telemedicine in Canada through teleconsultations between patients and their primary care provider could lead to benefits for patients, society, and the economy. The economic value of time saved, through fewer hours spent on traveling to appointments and waiting, could be up to 5 billion CAD alone each year.

    Dec 6, 2021

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    Research Brief

    Greater adoption of telemedicine could offer economic and social benefits for Canada

    This brief summarises the potential impact of increased, long-term telemedicine use in Canada. It was found that teleconsultations could boost the economy in terms of cost savings from fewer missed appointments and visits to emergency departments, and a reduction in travel times for patients.

    Dec 6, 2021

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    Report

    The potential socio-economic impact of telemedicine in Canada

    This study examined the potential impact in Canada of continued, long-term use of telemedicine. Researchers found that widespread use of teleconsultations could lead to significant benefits for patients, the economy and wider society.

    Dec 6, 2021

  • Blog

    Addressing Anti-Asian Racism, Stabilizing U.S. Rivalries, the Debt-Ceiling Fight: RAND Weekly Recap

    This weekly recap focuses on countering anti-Asian racism, the instability of U.S. rivalries with Russia and China, the rise in extremist online activity, and more.

    Dec 3, 2021

  • Composite image for the U.S. Capitol dome with clouds in the sky and U.S. currency superimposed on the sky, photo by Douglas Rissing/Getty Images

    Commentary

    Nuclear Strategists Know How Dangerous the Debt Fight Is

    Nuclear-war strategists' work offers a warning for Congress: The more times a game is played, the more treacherous it becomes, because when both sides believe catastrophe will always be averted in the end, each behaves more rashly. In the debt-ceiling dispute, the United States could end up defaulting precisely because each side keeps waiting for the other to blink.

    Nov 29, 2021

  • Old wooden chess board with map, photo by Chess board: ChrisAt/Getty Images/iStockphoto. Map: pc/Getty Images Chess pieces: TheUltimatePhotographer/iStockphoto

    Report

    Implementing China's Grand Strategy in Asia Through Institutions: An Exploratory Analysis

    In this report, the authors review the literature on China's grand strategy and discuss China's use of institutions in implementing its grand strategy toward Asian nations of interest to China, including the countries of the Korean Peninsula.

    Nov 29, 2021

  • Presidents Barack Obama and Nicolas Sarkozy at a ceremony honoring service members who supported the international response to the unrest in Libya, at Cannes City Hall, November 4, 2011, photo by MC2 Stephen Oleksiak/U.S. Navy

    Report

    Weighing Entanglement Risks of U.S. Security Relationships

    Some analysts argue that security relationships cause the United States to adopt its partners' interests, incentivize allies and partners to engage in reckless behavior, and risk getting dragged into conflicts. Others contend that the United States avoids entanglement by keeping its own interests in mind.

    Nov 22, 2021

  • Russian missile air defence systems at the international military-technical forum Army-2021 in Moscow Region, Russia, August 23, 2021, photo by Maxim Shemetov/Reuters

    Report

    How Diplomacy Could Be Used to Discourage Russian Arms Sales

    Countering Russian arms sales could reduce Russia's influence on other nations as well as revenue that indirectly enables its irresponsible international behavior. The United States and its allies need to provide credible diplomatic and military alternatives, and work with countries to address their security needs.

    Nov 18, 2021

  • Russian President Vladimir Putin shakes hands with Central African Republic President Faustin-Archange Touadéra at the Russia-Africa Summit in Sochi, Russia, October 23, 2019., photo by Mikhail Metzel/Kremlin via Reuters

    Commentary

    What Does Africa Need Most Now: Russian Arms Sales or Good Vaccines?

    Why is Russia's main export to Africa advanced conventional weapons at a time when other needs are so great? African leaders might think twice about aggressive Russian arms pitches and engagement of mercenaries, and prioritize measures to stem the COVID-19 pandemic and encourage economic growth.

    Nov 17, 2021

  • Map of connections in Asia and Australia, photo by ktsimage/Getty Images

    Report

    Mapping Business Networks in the Asia-Pacific

    As the economies of East and Southeast Asia have exploded in size, the activities of Asian firms have become more and more interdependent. The number of cases in which firms from different countries shared the same director increased almost tenfold from 2006 to 2020.

    Nov 9, 2021

  • Journal Article

    Journal Article

    The Cost of Stress to UK Employers and Employees

    This paper uses data from the Britain's Healthiest Workplaces survey to highlight the costs associated with stress and impaired wellbeing in the workplace and their implication for productivity and, by extension, the economic health of society.

    Nov 9, 2021

  • Colourful silhouettes of people of various races wearing face masks, photo by smartboy10/Getty Images

    News Release

    Hackathon Pairs HBCU Undergrads with Pardee RAND Graduate Students to Identify Ideas for More Equitable COVID-19 Recovery

    Undergraduate students from Clark Atlanta University, Morehouse College, and Spelman College will work alongside Pardee RAND Graduate School students to seek ways to help vulnerable communities recover from the COVID-19 pandemic during a virtual policy hackathon offered by the nonprofit, nonpartisan RAND Corporation and Pardee RAND Graduate School.

    Oct 27, 2021