Global economies & markets

In the U.S., municipal governments raise revenue through property taxes, based on a percentage of the value of land and all the structures built upon it. But economists have long recognized a problem: The higher the value of the structures, the higher the tax will be, which means that property owners are disincentivized from building on their land.

Recently, the Federal Deposit Insurance Corporation — best known by its initials, FDIC — took over two banks a country apart after customers ran to get their money out in fear of their imminent closure. What happened, why and what’s next, both short-term and long-term?

The past year has seen a dramatic shift in the landscape for the economics of AI. Artificial intelligence has made remarkable progress, and this progress has been faster than many expected. As we enter 2023, Darden Professor Anton Korinek shares some facts and his expert opinions on the implications of these developments.

The Partnership for Central America works with businesses and social enterprises to address the root causes of migration through economic opportunity and investments in education, health care and transportation infrastructure. It’s a public-private partnership in support of Vice President Kamala Harris’ Call to Action for Central America.

The Global Alliance for Trade Facilitation promotes inclusive economic growth by giving developing and least developed countries better access to international trade. A neutral convener between government and business, it provides technical support and guidance, channeling global business knowledge. It is a leading public-private partnership.

Professor Marc Santugini, the Blue Ridge Distinguished Teaching Fellow at UVA’s Department of Economics, shares his insights on teaching in the metaverse, in conversation with Darden Professor Anton Korinek.

Between 2020 and 2021, the number of billionaires in China rose by more than 60 percent. Compared to the U.S. — which still holds the highest number of billionaires — China’s list changes frequently. Why does it show so much turnover? The answer has to do with the country’s dualistic capitalist-socialist identity.

Behavior tracking is playing a growing role in today’s workplace. Darden Professor Roshni Raveendhran offers a psychological account for employees’ increased willingness to accept, rather than resist, technology-operated behavior tracking, which sheds light on how business leaders should approach employee monitoring.

Professor Doug Thomas discusses supply chain and argues that executives’ focus must shift to balance the historical commitment to efficiency with a renewed commitment to resiliency.

Solutions to many challenging problems, such as the COVID-19 pandemic and climate change, require technological coordination and collaboration at the global level. Professor Ting Xu’s latest research identifies bilateral investment treaties (BITs) as a useful policy lever to promote the globalization of innovation.