Welcome to Heller-Hurwicz Office Hours, a podcast featuring University of Minnesota economists and their research. In the podcast we’ll explore economic topics that impact our daily lives and discuss economic research aimed at improving our understanding of major societal challenges. We’ll highlight how careful economic research can inform policy decisions.
S4E3: The Monopolies Behind the Housing Crisis: Jim Schmitz on Competition, Innovation, and Affordability
Why is affordable housing so hard to build in America?
Much of the public debate focuses on interest rates, construction costs, zoning regulations, and supply chain disruptions. But according to economist Jim Schmitz, another powerful force has been overlooked: monopolies and the barriers they create to innovation and competition.
In this episode of Heller-Hurwicz Office Hours, Schmitz discusses his groundbreaking research on how entrenched interests can stifle new technologies, raise housing costs, and limit the supply of affordable homes. Drawing on decades of work studying monopolies and industry dynamics, he explains why some industries actively resist innovation—and how those actions can make consumers worse off while even reducing the industry's own long-run growth and profitability.
The conversation explores the surprising connection between market power and housing affordability, the history of innovation in homebuilding, and what policymakers can learn as they grapple with one of the most pressing economic challenges facing American families.
In this episode:
How monopolies shape housing marketsHow barriers to innovation increase construction costs
The economics of manufactured and factory-built housing
Why industries sometimes resist productivity-enhancing technologies
Competition, regulation, and the future of housing affordability
Policy lessons for addressing America's housing shortage
As policymakers search for solutions to the housing crisis, Schmitz offers a different perspective: one that focuses not just on supply and demand, but on the institutions and market structures that determine how innovation reaches consumers.
***The views expressed in the conversation arethose of Jim Schmitz and not those of the Minneapolis Fed.
About Heller-Hurwicz Office Hours
Heller-Hurwicz Office Hours features University of Minnesota economists and the research that helps us make sense of a complex world.
In Season 4, we continue our exploration of how economic research can inform our understanding of the rapidly changing policy landscape during the second Trump administration.
📌 Subscribe for more conversations on trade, fiscal policy, labor markets, artificial intelligence, climate economics, and other pressing economic issues.
19 Jun 2026
S4E2: Neel Kashkari on inflation, uncertainty, and the economic outlook
Geopolitical conflict, persistent policy uncertainty, and growing scrutiny of the Federal Reserve are reshaping the economic landscape facing the United States. At a time when policymakers, businesses, and households are navigating an increasingly complex environment, questions about inflation, growth, financial stability, and the Fed's independence have taken on renewed importance.In this episode of Heller-Hurwicz Office Hours, we sat down with Neel Kashkari, President of the Federal Reserve Bank of Minneapolis, on May 12, 2026 to discuss the forces influencing the U.S. economy and the challenges facing monetary policymakers.Kashkari shares his perspective on the economic outlook, the implications of global geopolitical tensions, the role of uncertainty in shaping business and consumer decisions, and why central bank independence remains a critical feature of a stable and prosperous economy. He also reflects on the evolving relationship between economic research and policymaking during a period of rapid change.In this episode:The outlook for the U.S. economyInflation, interest rates, and monetary policyThe intersection between geopolitical conflicts and economic performanceThe economic impact of policy uncertaintyWhy Federal Reserve independence mattersRisks to growth, employment, and financial stabilityThe role of economic research in policymakingAbout Heller-Hurwicz Office HoursHeller-Hurwicz Office Hours features economists connected with the University of Minnesota and the research that helps us make sense of a complex world. In Season 4, we continue exploring how rigorous economic research informs our understanding of today's rapidly changing economic and policy environment.
12 Jun 2026
S4E1: After the Sledgehammer: Measuring the Impact of Trump's Trade Agenda
More than a year after President Trump launched one of the most dramatic shifts in U.S. trade policy in decades, what does the evidence actually tell us?
In April 2025, the administration imposed sweeping tariffs designed to reduce trade deficits, boost domestic manufacturing, and reshape America's role in the global economy. The policy sparked fierce debate, with supporters promising an industrial renaissance and many economists warning of significant economic costs. Since then, the path has been anything but straightforward, culminating in a landmark Supreme Court ruling striking down the administration's emergency tariffs.
On May 5, 2026, economists Tim Kehoe and Mike Waugh joined us for this episode of Heller-Hurwicz Office Hours, to assess the first year of Trump's trade agenda. Drawing on the latest data and economic research, they examine how tariffs have affected trade flows, domestic production, prices, and supply chains—and whether the results align with the administration's goals.
The conversation explores what economists have learned from this unprecedented policy experiment, what questions remain unanswered, and what the future may hold for U.S. trade policy in an increasingly uncertain global economy.
Topics include:
Trump's 2025 tariff strategy and its objectives
The economic impact of broad-based tariffs
Manufacturing, trade deficits, and supply chain adjustments
The Supreme Court's tariff ruling
What the data show after one year
The future of U.S. trade policy
Heller-Hurwicz Office Hours features University of Minnesota economists and their research, helping listeners make sense of today's most important economic challenges.
Who has been a guest on Heller-Hurwicz Office Hours
Names identified in recent episode analyses. Showing up to five guests.
Kjetil Storesletten
VV Chari
Gary Stern
Art Rolnick
Tim Kehoe
Reach and audience
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YouTube views
79,850
Score snapshot 15 Sept 2025
Apple Podcasts (US)
5.0 / 5
9 ratings
Spotify
5.0 / 5
11 ratings
Podcast Authority Score: 46 / 100
A composite of feed quality, social presence, YouTube performance and engagement. Read the methodology.
Quality
31
Social presence
0
YouTube
76
Engagement
77
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