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V-Shaped Recovery Eludes G-7 Countries
Economic growth should overshoot its long-run trend to make up for the downturn caused by the pandemic. So far, this hasn’t happened.
Journal Article
Anecdotal Evidence Suggests State Capacity Unrelated to COVID-19 Spread
The COVID-19 pandemic has underscored many societal issues, including the capacity of different world governments to contain the virus’ spread.
Not All Bursting Market Bubbles Have the Same Recessionary Effect
The popped IT bubble ushered in an eight-month recession in 2001. The burst housing bubble resulted in the Great Recession (2007-09). Why the difference?
How Uneven Were the Labor Market Recoveries across U.S. States?
Some states finished 2021 with unemployment rates below their pre-pandemic levels, while most had rates still above levels before COVID-19.
How COVID-19 Has Impacted Stock Performance by Industry
Aggregate market indexes such as the S&P 500 have fully recovered since the beginning of the pandemic, but not all sectors have performed equally well.
Journal Article
Who’s Driving a Recent Decline in Life Expectancy?
Life expectancy in the U.S. and most other G-7 nations declined from 2019 to 2021. For the U.S., it was the biggest two-year drop since the early 1920s.
Journal Article
Increasing Employment by Halting Pandemic Unemployment Benefits
In mid-2021, 26 states halted participation in all or some federal emergency unemployment benefits (EUB) programs before those programs' federal funding lapsed. This article uses this asynchronous EUB cessation between early- and late-halting states to estimate the causal impact of benefit cessation on employment. We find that cessation increased employment by 29 persons for every 100 (pre-halt) EUB recipients. Expressed as a number of jobs, if all states had halted EUB in June, September employment would have been 3.4 million persons higher relative to a no-halt counterfactual. Late-halting ...
Journal Article
How to Jump-Start Industrialization in Sub-Saharan Africa
Most sub-Saharan nations are poor and a long way from full-scale industrialization. However, certain policies could help spur their economic development.
The End of Emergency Pandemic Unemployment Benefits in 2021
Although many saw the $300 weekly add-on as the key disincentive to work, the large drop in benefit recipients was driven primarily by the halt in other federal jobless programs.
Journal Article
Working from Home: More Americans Are Telecommuting
Americans who primarily work from home represented 3% of full-time employees in 2017, up from 0.7% in 1980.