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We use a detailed micro dataset on product availability to construct a direct high-frequency measure of consumer product shortages during the 2020-2021 pandemic. We document a widespread multi-fold rise in shortages in nearly all sectors early in the pandemic. Over time, the composition of...
Persistent link: https://www.econbiz.de/10012629429
We investigate the employment consequences of deindustrialization for 1,993 cities in France, Germany, Great Britain …
Persistent link: https://www.econbiz.de/10014447269
and affects the overall effectiveness of forward guidance. We find that the central banks of the U.S., the U.K., Germany …
Persistent link: https://www.econbiz.de/10014421202
Persistent link: https://www.econbiz.de/10014385707
Due to population aging, GDP growth per capita and GDP growth per working-age adult have become quite different among many advanced economies over the last several decades. Countries whose GDP growth per capita performance has been lackluster, like Japan, have done surprisingly well in terms of...
Persistent link: https://www.econbiz.de/10014437045
Many US federal agencies model the economic and budgetary effects of research and development (R&D) investments -- both public R&D and private R&D -- as if R&D were the same as any other form of investment, such as physical capital investment. However, in recent decades a broad base of evidence...
Persistent link: https://www.econbiz.de/10015195048
The neo-Fisher effect and the central bank information (CBI) effect produce similar outcomes: under both, a monetary tightening triggers an increase in inflation and an expansion in real activity. Separate estimates of these effects run the risk of confounding one with the other. To disentangle...
Persistent link: https://www.econbiz.de/10015145087
This paper presents a unified framework to explain three major economic downturns: the U.S. Great Depression, the U.S. Great Recession, and Japan's Long Recession. Temporary economic disruptions, such as banking crises and excessive debt accumulation, can drive natural interest rates into...
Persistent link: https://www.econbiz.de/10015145146
This paper studies the impact of adult prosecution on recidivism and employment trajectories for adolescent, first-time felony defendants. We use extensive linked Criminal Justice Admin- istrative Record System and socio-economic data from Wayne County, Michigan (Detroit). Using the discrete age...
Persistent link: https://www.econbiz.de/10014337757
Headline estimates for the extent of work from home (WFH) differ widely across U.S. surveys. The differences shrink greatly when we harmonize with respect to the WFH concept, target population, and question design. As of 2025, our preferred estimates say that WFH accounts for a quarter of paid...
Persistent link: https://www.econbiz.de/10015326501