Economics

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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.

  • Profiles of four African Americans in front of a money tree, illustration by Kekeli Sumah/RAND Corporation, from Andre Hunter/Unsplash and Pete Soriano/RAND Corporation, from Atlas Illustrations/Adobe Stock and dar/Adobe Stock

    Essay

    What Would It Take to Close America's Black-White Wealth Gap?

    White Americans hold ten times more total wealth than Black Americans, a disparity that has worsened in recent decades. RAND researchers modeled wealth across millions of households and tested several funding scenarios to see which could most effectively close the gap.

    May 9, 2023

  • An employee walks past a part of Gazprom's Power Of Siberia gas pipeline at the Atamanskaya compressor station outside the far eastern town of Svobodny, in Amur region, Russia, November 29, 2019, photo by Maxim Shemetov/Reuters

    Commentary

    Consequences of the War in Ukraine: The Economic Fallout

    Before Russia invaded Ukraine, projections estimated global economic growth in 2022 would be around 5 percent. But the war in Ukraine contributed to slowed economic growth in 2022 and a slowed recovery from the COVID-19 pandemic. What are the broader consequences for the global economy?

    Mar 7, 2023

Explore Economics

  • Multimedia

    Multimedia

    The Future of U.S.-Russia Relations

    In this Events @ RAND podcast, RAND experts Samuel Charap, Dara Massicot, and Michael J. Mazarr discuss where the U.S.-Russia relationship is heading.

    Oct 9, 2018

  • Chinese President Xi Jinping speaks during the 2018 Beijing Summit of the Forum on China-Africa Cooperation at the Great Hall of the People in Beijing, China, on September 4, 2018

    Commentary

    What Does China's Pursuit of a Global Coalition Mean for World Politics?

    As disputes between Beijing and Washington over trade and other issues intensify, analysts have highlighted domestic factors as reasons why President Xi Jinping may resist compromise. However, China's pursuit of a greater international leadership role likely plays an overlooked, but increasingly important role.

    Oct 8, 2018

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    Project

    International Research and Analysis Seeks to Enhance Wellbeing of People in Developing Countries

    Understanding the factors influencing economic growth and development is crucial to enhancing the human welfare of a nation. RAND International Research and Analysis is committed to fulfilling this objective.

    Oct 1, 2018

  • A student walks along a damaged street in the town of Kafr Batna, in eastern Ghouta, Syria, September 5, 2018

    Commentary

    Why We Should Measure the Economic Impact of Terrorism in the Middle East

    Though physical impacts of terrorism in the Middle East should be the main focus of counterterrorism efforts, financial impacts should not be ignored. Officials could help mitigate devastating economic effects by identifying and protecting essential regional revenue streams like tourism and oil.

    Sep 24, 2018

  • Journal Article

    Journal Article

    Strict Duality and Overlapping Productivity Distributions Between Formal and Informal Firms

    This paper deepens the understanding of informality by investigating important heterogeneity in the overlap of productivity distributions across industries.

    Sep 19, 2018

  • Journal Article

    Journal Article

    The Impact of Trade Liberalization on Productivity: Evidence from India's Formal and Informal Manufacturing Sectors

    This paper was first to consider the effects of India's tariff liberalization on the entire manufacturing industry, both small, informal firms and large, formal firms. The overall effect of the trade reforms is increased productivity in both sectors.

    Sep 19, 2018

  • Paper boats with flags of China, Japan, and the United States on a map of East Asia

    Commentary

    The Implications of U.S.-China Trade Tensions for Japan

    Washington and Beijing seem prepared to begin decoupling from one another economically, which puts Tokyo in a difficult position. Japan may have to devise new strategies not only for sustaining its growth, but also for insulating itself from the impact of deteriorating relations between the United States and China.

    Sep 18, 2018

  • Dissertation

    Dissertation

    Harmonizing Discretionary Policy Choice with Fiscal Rule Making: Mexico after Fiscal and Energy Sector Reforms

    Studies the long-term effectiveness and vulnerability of a diverse set of fiscal policies, which propose lump-sum transfers and different consumption tax exemptions.

    Sep 14, 2018

  • International Monetary Fund Managing Director Christine Lagarde speaks at a Belt and Road conference in Beijing, China, April 12, 2018

    Commentary

    The Global Order Will Outlast U.S. Leadership

    Even if America bails on the international order there is plenty of evidence that Europe, China, Japan, and the rest of the developed world will maintain existing multilateral structures and build new ones. The order will survive but may become less liberal, less democratic, and perhaps less peaceful.

    Aug 23, 2018

  • Russia's President Vladimir Putin speaks during an interview with Fox News after a meeting with U.S. President Donald Trump in Helsinki, Finland, July 16, 2018

    Commentary

    Walking a Fine Line on Russian Sanctions

    The United States and its allies are increasingly frustrated over malign activities by Russia. This week the U.S. unveiled new sanctions, and is expected to impose even more in the future. But choosing sanctions requires care. Their purpose should be to penalize Russia for misbehavior, but not to isolate Russians.

    Aug 22, 2018

  • Research Brief

    Research Brief

    China Belt and Road Initiative: How revival of the silk road could impact world trade

    By using both qualitative and quantitative analysis, this study found improving transportation multimodal connectivity has a positive impact on multilateral trade across countries and regions along China Belt and Road Initiative.

    Aug 21, 2018

  • Report

    Report

    China Belt and Road Initiative: Measuring the impact of improving transportation connectivity on trade in the region

    Using both qualitative and quantitative analysis, this study found improving transportation multimodal connectivity has a positive impact on multilateral trade across countries and regions along China Belt and Road Initiative.

    Aug 21, 2018

  • Members of the United Nations Security Council during a meeting at the U.N. headquarters in New York, April 14, 2018

    Commentary

    The Roots—and Purpose—of the Post-War Order

    As the world enters an era of greater international competition, U.S. policymakers should take care not to underestimate the importance of the postwar system. The order is far from a myth; it is the United States' most important competitive advantage.

    Aug 7, 2018

  • U.S. President Trump arrives to announce his decision to withdraw from the JCPOA Iran nuclear agreement in the Diplomatic Room of the White House, May 8, 2018

    Commentary

    Bringing Back Sanctions Will Hurt U.S. Allies and Iran, but Will It Help America?

    What happens if leaving the Iran nuclear deal and applying “maximum pressure” doesn't lead Iran to change its behavior or the regime to collapse? The Trump administration may find that it's much easier to break a deal than to replace it with something better.

    Aug 7, 2018

  • The U.S. Navy destroyer USS John S. McCain conducts a patrol in the South China Sea, January 22, 2017

    Commentary

    The Security Risks of a Trade War with China

    As U.S.-China trade tensions continue to rise, many observers are focused on the potential for a full-fledged trade war that could destabilize the world economy. But there are security concerns as well. A China less constrained by and invested in economic ties with the United States could pose a greater challenge to U.S. foreign policy.

    Aug 6, 2018

  • RAND researcher Anna Elizabeth 'Nancy' Nimitz, September 1, 1958

    Content

    A Brief History of RAND

    RAND was incorporated as a nonprofit corporation in 1948. From its early years to the present, RAND research is characterized by its objectivity and nonpartisanship, its quality and scientific rigor, and its dedication to improving policymaking on the most pressing issues of the day.

    Aug 3, 2018

  • Woman and elderly man looking at a laptop with insurance forms on the table nearby

    Journal Article

    Encouraging Patient Price Shopping: Which Methods Work?

    Efforts to encourage patient price shopping through access to price transparency tools have met with limited success. However, combining these tools with reference pricing simplifies decisionmaking by steering patients to low-priced providers and giving them a financial incentive to comply with the nudge.

    Aug 2, 2018

  • Chinese President Xi Jinping and Indian Prime Minister Narendra Modi talk as they visit the Hubei Provincial Museum in Wuhan, China, April 27, 2018

    Commentary

    Is India the Weakest Link in the Quad?

    India's sustained membership in the Quadrilateral Security Dialogue would fit with the goal of balancing against China to deter it from further militarizing the Indo-Pacific. But New Dehli may be getting cold feet.

    Jul 23, 2018

  • Shipping containers at a port in Shanghai, China, July 10, 2018

    Commentary

    The U.S.-China Trade War: Different Messages

    The trade war between the United States and China began with the notification of tariffs on $34 billion of traded goods on each side. Officials on both sides of the Pacific are using different messages to convey the dispute. What are the real impacts likely to be?

    Jul 20, 2018

  • The Christophe de Margerie (R), an ice-class tanker fitted out to transport liquefied natural gas, is docked in Arctic port of Sabetta, Yamalo-Nenets district, Russia March 30, 2017

    Commentary

    Cooperation in the Arctic Likely to Continue—For Now

    Risks for serious tensions in the Arctic during the 2020s are likely to be overstated. Key players in the Arctic appear likely to continue working together to enhance the economic potential of the region and resolve conflicts before they emerge, as opportunities in the Arctic continue to grow.

    Jul 12, 2018

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