Download or read book How Did COVID 19 and Stabilization Policies Affect Spending and Employment written by Raj Chetty and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: We build a publicly available platform that tracks economic activity at a granular level in real time using anonymized data from private companies. We report daily statistics on consumer spending, business revenues, employment rates, and other key indicators disaggregated by county, industry, and income group. Using these data, we study the mechanisms through which COVID-19 affected the economy by analyzing heterogeneity in its impacts across geographic areas and income groups. We first show that high-income individuals reduced spending sharply in mid-March 2020, particularly in areas with high rates of COVID-19 infection and in sectors that require physical interaction. This reduction in spending greatly reduced the revenues of businesses that cater to high-income households in person, notably small businesses in affluent ZIP codes. These businesses laid o↵ most of their low-income employees, leading to a surge in unemployment claims in affluent areas. Building on this diagnostic analysis, we use event study designs to estimate the causal effects of policies aimed at mitigating the adverse impacts of COVID. State-ordered reopenings of economies have little impact on local employment. Stimulus payments to low-income households increased consumer spending sharply, but had modest impacts on employment in the short run, perhaps because very little of the increased spending flowed to businesses most affected by the COVID-19 shock. Paycheck Protection Program loans have also had little impact on employment at small businesses. These results suggest that traditional macroeconomic tools - stimulating aggregate demand or providing liquidity to businesses - may have diminished capacity to restore employment when consumer spending is constrained by health concerns. During a pandemic, it may be more fruitful to mitigate economic hardship through social insurance. More broadly, this analysis illustrates how real-time economic tracking using private sector data can help rapidly identify the origins of economic crises and facilitate ongoing evaluation of policy impacts

Download or read book The Economic Impacts of COVID 19 written by Raj Chetty and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We build a publicly available database that tracks economic activity at a granular level in real time using anonymized data from private companies. We report daily statistics on consumer spending, business revenues, employment rates, and other key indicators disaggregated by ZIP code, industry, income group, and business size. Using these data, we study how COVID-19 affected the economy by analyzing heterogeneity in its impacts. We first show that high-income individuals reduced spending sharply in mid-March 2020, particularly in areas with high rates of COVID-19 infection and in sectors that require in-person interaction. This reduction in spending greatly reduced the revenues of small businesses in affluent ZIP codes. These businesses laid off many of their employees, leading to widespread job losses especially among low-wage workers in affluent areas. High-wage workers experienced a "V-shaped" recession that lasted a few weeks, whereas low-wage workers experienced much larger job losses that persisted for several months. Building on this diagnostic analysis, we estimate the causal effects of policies aimed at mitigating the adverse impacts of COVID-19. State-ordered reopenings of economies had small impacts on spending and employment. Stimulus payments to low-income households increased consumer spending sharply, but little of this increased spending flowed to businesses most affected by the COVID-19 shock, dampening its impacts on employment. Paycheck Protection Program loans increased employment at small businesses by only 2%, implying a cost of $377,000 per job saved. These results suggest that traditional macroeconomic tools - stimulating aggregate demand or providing liquidity to businesses - have diminished capacity to restore employment when consumer spending is constrained by health concerns. During a pandemic, it may be more fruitful to mitigate economic hardship through social insurance. More broadly, this analysis shows how public statistics constructed from private sector data can support many research and policy analyses without compromising privacy, providing a new tool for empirical macroeconomics.

Download or read book Israel and the World Economy written by Assaf Razin and published by MIT Press. This book was released on 2018-01-19 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: A rigorous analysis of the role played by globalization in key episodes in the development of the Israeli economy, from hyperinflation crisis to high-tech surge. Anti-globalization sentiments are rising, especially in Europe and the United States, with the increasingly integrated global economy blamed for domestic economic distress. In this book, Assaf Razin argues that Israel offers a counterexample to this view, showing decisively positive economic effects of globalized finance, trade, and immigration. He offers a rigorous analysis of the role played by globalization in key episodes in the remarkable development of the Israeli economy. His findings may hold lessons for productivity-challenged advanced economies as well as for other countries such as China currently making the transition to fully developed economies. Razin examines the wave of immigration after the collapse of the Soviet Union, as highly skilled Soviet Jews migrated to Israel and the effect on income inequality; the Great Moderation of inflation and employment in advanced economies, as Israel's inflation converged in parallel with low world inflation rates; Israel's robustness in the face of the deflation shocks of the 2008 financial crisis; and technology transmission through foreign direct investment, reinforcing Israel's high-tech sector surge. He also considers such ongoing challenges as high fertility and low labor market participation and the economic costs of the Israeli-Palestinian conflict.

Download or read book The Economic Impact of COVID 19 Around the World written by Fernando M. Martin and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Political Economy of Covid 19 written by Jonathan Michie and published by Taylor & Francis. This book was released on 2022-08-18 with total page 371 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive book brings together research published during 2021 analysing the impact of the Covid-19 pandemic on the economy – on output and employment, on inequality, and on public policy responses. The Covid-19 pandemic has been the greatest public health crisis for a century – since the ‘Spanish Flu’ pandemic of 1919. The economic impact has been equally seismic. While it is too early to measure the full economic cost – since much of this will continue to accumulate for some time to come – it will certainly be one of the greatest global economic shocks of the past century. Some chapters in this edited volume report on specific countries, while some take a comparative look between countries, and others analyse the impact upon the global economy. Even before the Covid-19 pandemic, there had been calls for a ‘great reset’ in face of the climate crisis, the increased income and wealth inequality, and the need to avoid further global financial crisis. With the devastating Covid-19 pandemic – a harbinger for further such pandemics – there is an even greater need for a reset, and for the reset to be that much greater. The chapters in this book were originally published as special issues in the journal International Review of Applied Economics.

Download or read book Consequences of COVID 19 written by Christine Crudo Blackburn and published by Texas A&M University Press. This book was released on 2024-09-02 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: No disease has upended life more in the past fifty years than COVID-19. As the pandemic unfolded, coeditors Christine Crudo Blackburn and Gerald W. Parker saw how many areas of society are impacted and how those impacts can ripple through to other sectors. Seeking to provide both warnings of these vulnerabilities and direction for future efforts to address them, Blackburn and Parker have assembled a cross-disciplinary, multinational team of researchers and writers to provide a critical look at the global response—success or failure—to the COVID-19 pandemic. Consequences of COVID-19: A One Health Approach to the Responses, Challenges and Lessons Learned reviews the multiple implications of COVID-19 for society: in public health research, in education, in human-animal interaction, in public policy, in media and online information, and in domestic and international economic considerations. Perhaps even more critically, this well-rounded analysis reviews the lessons learned to offer constructive directions for future research, policymaking, and education. This important compendium will serve as a benchmark for the study of and preparedness for potential future public health crises such as COVID-19. As Blackburn notes in her conclusion, “this will not be the last pandemic. It may not even be the last pandemic in our lifetime.”

Download or read book The Political Economy of Covid 19 written by Jonathan Michie and published by Taylor & Francis. This book was released on 2022-08-18 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive book brings together research published during 2021 analysing the impact of the Covid-19 pandemic on the economy – on output and employment, on inequality, and on public policy responses. The Covid-19 pandemic has been the greatest public health crisis for a century – since the ‘Spanish Flu’ pandemic of 1919. The economic impact has been equally seismic. While it is too early to measure the full economic cost – since much of this will continue to accumulate for some time to come – it will certainly be one of the greatest global economic shocks of the past century. Some chapters in this edited volume report on specific countries, while some take a comparative look between countries, and others analyse the impact upon the global economy. Even before the Covid-19 pandemic, there had been calls for a ‘great reset’ in face of the climate crisis, the increased income and wealth inequality, and the need to avoid further global financial crisis. With the devastating Covid-19 pandemic – a harbinger for further such pandemics – there is an even greater need for a reset, and for the reset to be that much greater. The chapters in this book were originally published as special issues in the journal International Review of Applied Economics.

Download or read book Covid 19 and the Informal Economy written by Lecturer in Urban Planning and Design Martha Chen and published by Oxford University Press. This book was released on 2024-07-04 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores and presents findings on the impact of the COVID crisis on informal workers in Asia, Africa, and North and Latin America.

Download or read book The Pandemic Paradox written by Scott Fulford and published by Princeton University Press. This book was released on 2023-05-16 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why most Americans’ finances improved during the worst economic contraction since the Great Depression—and the policy choices that made this possible In March 2020, economic and social life across the United States came to an abrupt halt as the country tried to slow the spread of COVID-19. In the worst economic contraction since the Great Depression, twenty-two million people lost their jobs between mid-March and mid-April of 2020. And yet somehow the finances of most Americans improved during the pandemic—savings went up, debts went down, and fewer people had trouble paying their bills. In The Pandemic Paradox, economist Scott Fulford explains this seeming contradiction, describing how the pandemic reshaped the American economy. As Americans grappled with remote work, “essential” work, and closed schools, three massive pandemic relief bills, starting with the CARES Act on March 27, 2020, managed to protect many of America’s most vulnerable. Fulford draws from the Consumer Financial Protection Bureau's “Making Ends Meet” surveys—which he helped design—to interweave macroeconomic trends in spending, saving, and debt with stories of individual Americans’ economic lives during the pandemic. We meet Winona, who quit her job to take care of her children; Marvin, who retired early and worried that his savings wouldn’t last; Lisa, whose expenses went up after her grown kids (and their dog) moved back home; and many others. What the statistics and the stories show, Fulford argues, is that a better, fairer, more productive economy is still possible. The success of pandemic relief policy proves that Americans’ economic fragility is not an unsolvable problem. But we have to choose to solve it.

Download or read book Business Impacts of COVID 19 written by Tomasz Bernat and published by Taylor & Francis. This book was released on 2023-07-21 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: The coronavirus disease (COVID-19) pandemic has caused serious disruptions to the economy and business activities. The COVID-19 crisis has also exposed important weaknesses in business and supply chains. It pointed to specific sectors of the economy, primarily related to services, that suffered the most. On the other hand, it has highlighted the great flexibility of the activities of entrepreneurs in their attempts to fight the crisis. The role of government has also been important in tackling this pandemic crisis to contain the epidemic and adopt activities to help entrepreneurs who were most affected by the crisis. Numerous national aid and recovery packages have been announced to support businesses and workers. At the same time, financial decisions were made at the international level, resulting in the mobilization of huge funds that were intended to support the functioning of enterprises. This book shares observations and conclusions from contemporary research and analyses, as well as from personal experiences in creating and implementing anti-crisis solutions in economies and enterprises caused by the COVID-19 pandemic on the economy and its entities. It will be of interest to researchers, academics, policymakers, and students in the fields of international business, economics, crisis management, and entrepreneurship.

Download or read book Economics in One Virus written by Ryan A. Bourne and published by Cato Institute. This book was released on 2021-04-07 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: "A truly excellent book that explains where our pandemic response went wrong, and how we can understand those failings using the tools of economics." —Tyler Cowen, Holbert L. Harris Chair of Economics at George Mason University and coauthor of the blog Marginal Revolution Have you ever stopped to wonder why hand sanitizer was missing from your pharmacy for months after the COVID-19 pandemic hit? Why some employers and employees were arguing over workers being re-hired during the first COVID-19 lockdown? Why passenger airlines were able to get their own ring-fenced bailout from Congress? Economics in One Virus answers all these pandemic-related questions and many more, drawing on the dramatic events of 2020 to bring to life some of the most important principles of economic thought. Packed with supporting data and the best new academic evidence, those uninitiated in economics will be given a crash-course in the subject through the applied case-study of the COVID-19 pandemic, to help explain everything from why the U.S. was underprepared for the pandemic to how economists go about valuing the lives saved from lockdowns. After digesting this highly readable, fast-paced, and provocative virus-themed economic tour, readers will be able to make much better sense of the events that they've lived through. Perhaps more importantly, the insights on everything from the role of the price mechanism to trade and specialization will grant even those wholly new to economics the skills to think like an economist in their own lives and when evaluating the choices of their political leaders.

Download or read book For the Benefit of All Fiscal Policies and Equity Efficiency Trade offs in the Age of Automation written by Mr. Andrew Berg and published by International Monetary Fund. This book was released on 2021-07-16 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many studies predict massive job losses and real wage decline as a result of the ongoing widespread automation of production, a trend that may be further aggravated by the COVID-19 crisis. Yet automation is also expected to raise productivity and output. How can we share the gains from automation more widely, for the benefit of all? And what are the attendant equity-efficiency trade-offs? We analyze this issue by considering the effects of fiscal policies that seek to redistribute the gains from automation and address income inequality. We use a dynamic general equilibrium model with monopolistic competition, including a novel specification linking corporate power to automation. While fiscal policy cannot eliminate the classic equity-efficiency trade-offs, it can help improve them, reducing inequality at small or no loss of output. This is particularly so when policy takes advantage of novel, less distortive transmission channels of fiscal policy created by the empirically observed link between corporate market power and automation.

Download or read book Handbook of Research on Strategies and Interventions to Mitigate COVID 19 Impact on SMEs written by Baporikar, Neeta and published by IGI Global. This book was released on 2021-06-25 with total page 628 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic has affected every aspect of the modern world, and its impact is felt by all. The pandemic particularly has had a large impact on businesses as they were forced to close, supply chains were disrupted, and new health and safety precautions were adopted. As such, many businesses, especially small businesses, were faced with losses they could not afford. Governments and stakeholders across the world have thus needed to formulate various strategies and interventions to mitigate the negative consequences of the COVID-19 pandemic, particularly as they relate to small- and medium-sized enterprises (SMEs). The Handbook of Research on Strategies and Interventions to Mitigate COVID-19 Impact on SMEs is a comprehensive reference source that encapsulates the overall effect of COVID-19 on SMEs and a variety of strategies to overcome the negative effects and create more sustainable policies and organizations moving forward. The book offers a thorough overview of interventions and tactics to help organizations, entrepreneurs, and institutions of higher learning overcome the negative impact of COVID-19 while preparing policies for a more effective post-pandemic world. Covering topics that include sustainable practices for development, interventions to lessen the impact of COVID-19, and psychological resilience for SME employees, this book is Ideal for entrepreneurs, managers, executives, small businesses, family firms, academicians, scholar-practitioners, policymakers, researchers, and students.

Download or read book Job Creation and Local Economic Development 2020 Rebuilding Better written by OECD and published by OECD Publishing. This book was released on 2020-11-23 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: The impact of COVID-19 on local jobs and workers dwarfs those of the 2008 global financial crisis. The 2020 edition of Job Creation and Local Economic Development considers the short-term impacts on local labour markets as well as the longer-term implications for local development.

Download or read book Brookings Papers on Economic Activity Fall 2020 written by Janice Eberly and published by Brookings Institution Press. This book was released on 2021-06-22 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brookings Papers on Economic Activity (BPEA) provides academic and business economists, government officials, and members of the financial and business communities with timely research on current economic issues.

Download or read book Preparing Students for the Future Educational Paradigm written by Al Husseiny, Fatima and published by IGI Global. This book was released on 2024-02-12 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: New technology, globalized markets, and changing employment needs contribute to the fast transformation of the educational landscape, which presents new opportunities and challenges for students. How can educators strategically adapt and enhance learning ecosystems to effectively prepare students for the challenges and opportunities of the rapidly evolving educational landscape and the future workforce? Preparing Students for the Future Educational Paradigm delves into the intricate web of learning ecosystems, exploring their pivotal role in shaping the education of tomorrow. The contemporary educational landscape demands a paradigm shift, and this book addresses the key challenges and opportunities inherent in learning ecosystems. It dissects these interconnected networks of individuals, groups, and resources designed to foster learning, laying bare the essential elements defining efficiency, equity, and inclusivity. This book identifies the pressing issues facing learning ecosystems and provides innovative ideas and practical strategies for rejuvenating these ecosystems. Educators will find in-depth insights into the application of learning ecosystems to enhance student learning, coupled with tangible suggestions for improvement. Policymakers will discover how to champion learning ecosystems through practical political actions and legislation. Beyond these professionals, the book captures the attention of parents, community members, businesses, and scholars, making it an indispensable read for anyone invested in the future of education.

Download or read book The Factors and Behaviors Associated with Legislator Use of Communication Technology written by Joe West and published by Rowman & Littlefield. This book was released on 2021-08-23 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: Few will doubt the importance of the role that communication technology played in American politics in 2020. The Factors and Behaviors Associated with Legislator Use of Communication Technology examines the various factors and behaviors associated with legislator use of communication technology. Offering both macro and micro level perspectives as well as quantitative and qualitative data analyses, a broad perspective of the role that communication technology plays in driving legislator behavior is provided. Building a theoretical structure, this book begins with an examination of how communication technology can destabilize the policymaking process and offers an overview of media and policy process theories, and legislator roles and the association of these roles with the use of communication technology. Moving to the micro level, the authors present quantitative and qualitative evidence associated with legislator behaviors associated with the use of communication technology including compromise behaviors and political ideological polarization, closing with an examination of the use of communication technology by legislators during the 2020 COVID-19 pandemic.