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Economics

Best way to estimate costs for invasive plant removal? Get out and dig

URBANA, Ill. – Plants are designed to travel. They might not stand up and walk, but many plants produce seeds or other bits that can be carried long distances by wind or animals and start growing. While that might be great news for the plant, escapes like these can disrupt natural ecosystems and be costly to remove.

But just how costly?

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Wine as scapegoat in trade disputes means consumers pay the price

URBANA, Ill. ­­– When you sit down for a nice dinner and sip a glass of wine, is your bottle of choice from France, Australia, or South America? Chances are the fine beverage you’re enjoying is imported from a major global wine producer.

Wine is one of the most heavily traded products worldwide. It is also a prime target for import tariffs, even though wine rarely has anything to do with the conflicts that trigger these measures.

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Green roofs are worth the cost for urban residents

URBANA, Ill. ­– Plant-covered roofs have become a regular sight in Portland, Oregon. The city is a leader in incorporating green infrastructure for stormwater management, including free street trees, rebates for small residential housing footprints, and green roofs.

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Will Russian invasion of Ukraine spark a global food crisis?

The U.S. isn’t on the verge of a food crisis or food shortage due to the Russian invasion of Ukraine. It is, however, experiencing food price inflation, which will continue to be a pocketbook issue for consumers, says Scott Irwin, the Laurence J. Norton Chair of Agricultural Marketing. He spoke with Illinois News Bureau's business and law editor Phil Ciciora about the potential for a global food crisis. Read more from the Illinois News Bureau.

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Serra honored as Hieronymus Distinguished Chair in Futures Markets

URBANA, Ill. – The Department of Agricultural and Consumer Economics (ACE) honored Maria Teresa Serra Devesa as Thomas A. Hieronymus Distinguished Chair in Futures Markets during an investiture ceremony at the University of Illinois on April 27.

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Innovation flows across regions and sectors in complex ways, study shows

URBANA, Ill. – Knowledge creation – the generation of new ideas and patents – is an important driver of economic growth. Understanding how knowledge moves across industry sectors and regions can inform research and development (R&D) efforts, promote university-industry partnerships for innovation, and impact private businesses’ location decisions.

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Do bikeshare systems complement or replace public transit?

URBANA, Ill. – Bikeshare systems have come a long way since they were first introduced in the Netherlands in the 1960s. They are popular in cities around the world, but how do bike systems affect existing public transportation? That’s the topic of a new paper from the University of Illinois, published in Transportation Research Part A: Policy and Practice.

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Report: Extending child tax credit program offers many benefits for struggling families

CHAMPAIGN, Ill. — Extending the child tax credit program beyond 2021 could promote financial stability among vulnerable low- and moderate-income families and have many other long-term economic and noneconomic benefits, according to a new report by a team of researchers affiliated with the Project for Middle Class Renewal at the University of Illinois Urbana-Champaign.

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Measuring financial and digital literacy in vulnerable populations

URBANA, Ill. – Financial inclusion is key to improving economic and social welfare, reducing inequality, and promoting economic growth. Globally, 1.7 billion people have limited access to financial services, especially in the developing world. As governments and NGOs work to strengthen financial resilience, digital technology has become a crucial component.

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Soybean futures held early warning for COVID-related economic collapse

URBANA, Ill. – Global financial markets collapsed in March 2020 as the COVID-19 pandemic spread across the world. But weeks earlier, soybean futures had already started providing an early warning sign of troubles ahead. Soybean futures were “the canary in the coal mine,” according to a team of agricultural economists from the University of Illinois, who studied soybean, corn, and wheat market trading in early 2020.

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