Random Research Results

Environmental Economics

I have studied data from the Arizona Vehicle Emissions Inspection Program. Here is an interesting result: vehicle owners with lower income are less likely to pass the emissions inspection. This is partly because individuals with a lower annual income are more likely to drive vehicles that fail inspection at a higher average rate. However, even when I control for vehicle characteristics (!), lower income individuals are still more likely to fail inspection. This implies that programs designed to reduce emissions can have a greater impact if they include a means-testing provision.

Macroeconomics

Associated with the 2008 recession, the U.S. economy was depressed 7% until at least 2016. The sharp drop in output, together with what could be a new trend line, implies that something fundamental changed in the U.S. economy during that time. My research about money in the production function (with Ed Prescott) and Quantitative Easing (solo research) can help to explain why the drop was so sharp and why the U.S. economy did not return to trend in at least the 10 years following the drop.