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.
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.
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?
Geographic Dispersion in U.S. Employment
In the U.S., 112 of more than 3,000 counties accounted for 50% of employment in 2020.
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.
The Jobs Effect of Ending Pandemic Unemployment Benefits: A State-Level Analysis
This note uses the asynchronous cessation of emergency unemployment benefits (EUB) in 2021 to investigate the jobs impact of ending unemployment benefits. While some states stopped providing EUB in September, other states stopped in June and July. Using the cessation month as an instrument, we estimate the causal effect on employment of reducing unemployment rolls. In the first three months following a state’s program termination, for every 100 person reduction in beneficiaries, state employment causally increased by about 35 persons. The effect is statistically different from zero and ...
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.
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.
Long-Term Trends in Gasoline Prices
Average annual CPI inflation from 1990 to 2021 was 2.4%, while average annual gasoline price inflation was 3.9%.