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Has Creative Destruction Become More Destructive?
Komlos, John - 2014
Schumpeter's concept of creative destruction as the engine of capitalist development is well-known. However, that the destructive part of creative destruction is a social cost and therefore biases our estimate of the impact of the innovation on NNP and on welfare is hardly acknowledged, with the...
Persistent link: https://www.econbiz.de/10012458287
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A Final Report Card on the States' Response to COVID-19
Kerpen, Phil; Moore, Stephen; Mulligan, Casey B. - National Bureau of Economic Research - 2022
Almost exactly two years ago COVID-19 spread to the United States. Following the federalism model, the 50 states and their governors and legislators made many of their own pandemic policy choices to mitigate the damage from the virus. States learned from one another over time about what policies...
Persistent link: https://www.econbiz.de/10013191023
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The ARRA : Some Unpleasant Welfare Arithmetic
Mulligan, Casey B. - 2012
foregone unemployment insurance about equally erode the rewards from retaining a job, or starting a new one …
Persistent link: https://www.econbiz.de/10012460070
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How Credit Constraints Impact Job Finding Rates, Sorting & Aggregate Output
Herkenhoff, Kyle - 2016
We empirically and theoretically examine how consumer credit access affects displaced workers. Empirically, we link administrative employment histories to credit reports. We show that an increase in credit limits worth 10% of prior annual earnings allows individuals to take .15 to 3 weeks longer...
Persistent link: https://www.econbiz.de/10012456401
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The Cyclicality of Births and Babies' Health, Revisited : Evidence from Unemployment Insurance
Dettling, Lisa J.; Kearney, Melissa Schettini - National Bureau of Economic Research - 2023
through unemployment insurance (UI). We introduce a novel empirical test of standard neoclassical models of fertility that … the interaction of the aggregate unemployment rate with a measure of potential income replacement from UI. Our results … show that as UI benefit generosity reaches 100 percent income replacement, there is no effect of the unemployment rate on …
Persistent link: https://www.econbiz.de/10014226134
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Spending and Job-Finding Impacts of Expanded Unemployment Benefits : Evidence from Administrative Micro Data
Ganong, Peter; Greig, Fiona E.; Noel, Pascal J.; … - National Bureau of Economic Research - 2022
We show that the largest increase in unemployment benefits in U.S. history had large spending impacts and small job …
Persistent link: https://www.econbiz.de/10013361970
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Not in My Backyard? The Local Impact of Wind and Solar Parks in Brazil
Scheifele, Fabian; Popp, David - National Bureau of Economic Research - 2024
Support from local citizens is important for the scale-up of renewable energy. We investigate the impact of utility-scale wind and solar parks on employment, GDP and public finances in Brazilian municipalities using a difference-in-differences design with matching. We find a positive employment...
Persistent link: https://www.econbiz.de/10014512128
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Changing Effects of Monetary Policy on Real Economic Activity
Friedman, Benjamin M. - 1990
Major changes have taken place in the U.S. economy within the past quarter century. Changes with implications that are at least potentially important for the effect of monetary policy on real economic activity include the elimination of Regulation Q interest ceilings and the development of the...
Persistent link: https://www.econbiz.de/10012475757
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News Shocks in Open Economies : Evidence from Giant Oil Discoveries
Arezki, Rabah - 2015
This paper explores the effect of news shocks on the current account and other macroeconomic variables using worldwide giant oil discoveries as a directly observable measure of news shocks about future output-the delay between a discovery and production is on average 4 to 6 years. We first...
Persistent link: https://www.econbiz.de/10012457809
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Macroeconomic Effects of Financial Shocks
Jermann, Urban - 2009
In this paper we document the cyclical properties of U.S. firms' financial flows. Equity payouts are procyclical and debt payouts are countercyclical. We develop a model with explicit roles for debt and equity financing and explore how the observed dynamics of real and financial variables are...
Persistent link: https://www.econbiz.de/10012463312