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News Release

Major ERANDA Foundation Gift to PIIE Supports New Research on What Difference Business and Labor Practices Can Make to Rising Inequality

January 14, 2013

Contact:    Brian Reil    (202) 454-1334

Washington—The Peterson Institute for International Economics is pleased to announce that the ERANDA Foundation has generously funded a new initiative to study inequality and economic mobility trends, and what business and labor practices can do about growing income disparities.

Much of the public discussion about the effect of globalization on inequality has taken place in the very abstract, or limits itself to the impact that the integration of China and other large workforces into the global economy has overall. With the support of the ERANDA Foundation, the Peterson Institute will undertake a path-breaking cross-national assessment of the impact of private-sector behavior and institutions on inequality. The goal is to create new measures of inequality and mobility, and uncover practical steps to respond to trends of rising inequality, which undercut support for globalization.

Adam S. Posen, President of the Institute, will lead a research team that will include senior fellow Jacob Funk Kirkegaard, PIIE's newest research fellow Tomas Hellebrandt, and contributions from the Institute's noted authorities on inequality and globalization William R. Cline and Robert Z. Lawrence.

"The ERANDA Foundation's repeated support for applied but fundamental research that challenges status quo assumptions has enabled some of the Peterson Institute's most exciting work in recent years," said Posen. "We are excited and grateful to have the opportunity to turn our analytic efforts in the coming years to the crucial challenge of inequality in the global economy."

The ERANDA Foundation was established by Sir Evelyn Robert de Rothschild in 1967 to support nonprofit organizations worldwide. Lady Lynn Forester de Rothschild, a member of the executive committee of the Peterson Institute's board of directors and CEO of E.L. Rothschild, serves as the managing trustee of the foundation.

The Foundation has been a major supporter of Peterson Institute research projects in recent years. Among the products of the Foundation's support are Arvind Subramanian's book, Eclipse: Living in the Shadow of China's Economic Dominance, and Simon Johnson's book, White House Burning, both published in 2012. China Business News named Eclipse one of the three best books of 2012. Another grant has supported Subramanian's work on the project, "Breaking Ground and Breaking Barriers: Closer Economic Cooperation between the United States and India," which will culminate in a forthcoming two-book series, coauthored with C. Fred Bergsten, senior fellow and director emeritus at PIIE.

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About the Peterson Institute

The Peterson Institute for International Economics is a private, nonprofit, nonpartisan research institution devoted to the study of international economic policy. Since 1981 the Institute has provided timely and objective analysis of, and concrete solutions to, a wide range of international economic problems. Support for the Institute's programs is provided by a wide range of charitable foundations, private corporations and individual donors, and from earnings on the Institute's capital fund.