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Using firm optimization to evaluate and estimate returns to scale

Gorodnichenko, Yuriy (contributor) - 2008

often inconsistent with profit maximization or imply implausibly large profits. The puzzle arises because popular estimators … the restrictions imposed by profit maximization (cost minimization) so that estimators are inconsistent or poorly … rather than production functions and demonstrates that the profit share in revenue is a robust non-parametric economic …

Persistent link: https://www.econbiz.de/10003656928

Labor markets during the covid-19 crisis : a preliminary view

Coibion, Olivier; Gorodnichenko, Yuriy; Weber, Michael - 2020

We use a repeated large-scale survey of households in the Nielsen Homescan panel to characterize how labor markets are being affected by the covid-19 pandemic. We document several facts. First, job loss has been significantly larger than implied by new unemployment claims: we estimate 20 million...

Persistent link: https://www.econbiz.de/10012206097

The expected, perceived, and realized inflation of U.S. households before and during the COVID-19 pandemic

Weber, Michael; Gorodnichenko, Yuriy; Coibion, Olivier - 2022

We examine the efficacy of affirmative action at universities whose value depends on peer and alumni networks. We study an elite Brazilian university that adopted race- and income-based affirmative action at a large scale. Using employer-employee data, we show that a key benefit of attending the...

Persistent link: https://www.econbiz.de/10012805824

Fiscal multipliers in the COVID-19 recession

Auerbach, Alan J.; Gorodnichenko, Yuriy; McCrory, Peter B. - 2021

In response to the record-breaking COVID19 recession, many governments have adopted unprecedented fiscal stimuli. While countercyclical fiscal policy is effective in fighting conventional recessions, little is known about the effectiveness of fiscal policy in the current environment with...

Persistent link: https://www.econbiz.de/10012705410

Does policy communication during COVID work?

Coibion, Olivier; Gorodnichenko, Yuriy; Weber, Michael - 2020

by the Federal Reserve, stimulus measures, as well as recommendations from health officials. This experiment allows us to …

Persistent link: https://www.econbiz.de/10012231514

Does policy communication during COVID-19 work?

Coibion, Olivier; Gorodnichenko, Yuriy; Weber, Michael - 2020

by the Federal Reserve, stimulus measures, as well as recommendations from health officials. This experiment allows us to …

Persistent link: https://www.econbiz.de/10012237791

How did U.S. consumers use their stimulus payments

Coibion, Olivier; Gorodnichenko, Yuriy; Weber, Michael - 2020

Using a large-scale survey of U.S. consumers, we study how the large one-time transfers to individuals from the CARES Act affected their consumption, saving and labor supply decisions. Most respondents report that they primarily saved or paid down debts with their transfers, with only about 15...

Persistent link: https://www.econbiz.de/10012266918

Labor markets during the COVID-19 crisis : a preliminary view

Coibion, Olivier; Gorodnichenko, Yuriy; Weber, Michael - 2020

Persistent link: https://www.econbiz.de/10012201645

How did U.S. consumers use their stimulus payments?

Coibion, Olivier; Gorodnichenko, Yuriy; Weber, Michael - 2020

Using a large-scale survey of U.S. consumers, we study how the large one-time transfers to individuals from the CARES Act affected their consumption, saving and labor-supply decisions. Most respondents report that they primarily saved or paid down debts with their transfers, with only about 15...

Persistent link: https://www.econbiz.de/10012263377

Political polarization and expected economic outcomes

Coibion, Olivier; Gorodnichenko, Yuriy; Weber, Michael - 2020

We use a large-scale representative survey of households from October 19-21 that elicits respondents' expectations about the presidential election's outcome as well as their economic expectations to document several new facts. First, people disagree strongly about the likely outcome of the...

Persistent link: https://www.econbiz.de/10012306053