Stefanie Stantcheva, a Harvard economist, has been awarded the prestigious John Bates Clark Medal for her significant contributions to economics, particularly in tax policy. The American Economic Association recognized her groundbreaking research that examines the intricate relationship between taxation and innovation. Her findings indicate that while higher taxes may hinder the quantity of innovation, they do not negatively impact the quality of inventions. Colleagues praised her work and impact on the field, noting that her insights have the potential to reshape public finance.
"The tax system is something so powerful that can essentially make or break an economy. It can either encourage innovation - if it's properly designed - or really discourage economic activity."
"In their 2022 paper, 'Taxation and Innovation in the 20th Century,' Stantcheva and her co-authors found that innovation responds to changes in tax policy with high elasticity."
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