Showing 1 - 10 of 827
We study how financial frictions amplify labor supply shocks in a macroeconomic model with occasionally binding financing constraints. Workers supply labor to entrepreneurs who borrow to purchase factors of production. Borrowing capacity is restricted by the value of capital, generating a...
Persistent link: https://www.econbiz.de/10012302066
While the COVID-19 pandemic is affecting all countries, output losses vary considerably across countries. We provide a …
Persistent link: https://www.econbiz.de/10012517923
pandemic fades, unrest may reemerge in locations where it previously existed …
Persistent link: https://www.econbiz.de/10012517929
Using the U.S. Current Population Survey data, this paper compares the distributional impacts of the Pandemic Crisis … more severely affected during the Pandemic Recession. Surprisingly, teleworkable, social and essential jobs have been … teleworkable and essential jobs fell less during the Pandemic Crisis. Lastly, during both recessions, workers at low …
Persistent link: https://www.econbiz.de/10012251998
Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as 'hysteresis,' argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and...
Persistent link: https://www.econbiz.de/10012251398
Lockdowns and voluntary social distancing led to significant reduction in people's mobility. Yet, there is scant evidence on the heterogeneous effects across segments of the population. Using unique mobility indicators based on anonymized and aggregate data provided by Vodafone for Italy,...
Persistent link: https://www.econbiz.de/10012486075
early phase of the pandemic. We document that European countries and U.S. states that experienced larger outbreaks also …
Persistent link: https://www.econbiz.de/10012299321
the epidemic's health costs. Moreover, we show that having more agents who do not change their behavior during the … pandemic could lead to a deeper recession. Second, agents are heterogeneous in developing symptoms. We show that diseases with …
Persistent link: https://www.econbiz.de/10012302063
A universal testing and isolation policy is the most viable way to vanquish a pandemic. Its implementation requires: (i … economic fallout of the pandemic …
Persistent link: https://www.econbiz.de/10012252486
The COVID-19 pandemic led many emerging market central banks to adopt, for the first time, unconventional policies in …
Persistent link: https://www.econbiz.de/10012487164