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Economic uncertainty before and during the COVID-19 pandemic

Altig, Dave; Baker, Scott Brent; Barrero, Jose Maria; … - 2020

pandemic: implied stock market volatility, newspaper-based economic policy uncertainty, twitter chatter about economic … greatly-from an 80 percent rise (relative to January 2020) in two-year implied volatility on the S&P 500 to a 20-fold rise in … forecaster disagreement about UK growth. Third, time paths also differ: implied volatility rose rapidly from late February and …

Persistent link: https://www.econbiz.de/10012251406

Surveying business uncertainty

Altig, David; Barrero, Jose Maria; Bloom, Nicholas; … - 2019

We develop a new monthly panel survey of business executives and a new question design that elicits subjective probability distributions over own-firm outcomes at a one-year lookahead horizon. Our Survey of Business Uncertainty (SBU) began in 2014 and now covers 1,500 firms drawn from all 50...

Persistent link: https://www.econbiz.de/10012020039

COVID-19 is a persistent reallocation shock

Barrero, Jose Maria; Bloom, Nicholas; Davis, Steven J.; … - 2021

Drawing on data from the firm-level Survey of Business Uncertainty, we present three pieces of evidence that COVID-19 is a persistent reallocation shock. First, rates of excess job and sales reallocation over 24-month periods have risen sharply since the pandemic struck, especially for sales. We...

Persistent link: https://www.econbiz.de/10012416304

Have R&D spillovers changed?

Bloom, Nicholas; Van Reenen, John; Lucking, Brian - 2018

This paper revisits the results of Bloom, Schankerman, and Van Reenen (2013) examining the impact of R&D on the performance of US firms, especially through spillovers. We extend their analysis to include an additional 15 years of data through 2015, and update the measures of firms' interactions...

Persistent link: https://www.econbiz.de/10011895827

Managing trade : evidence from China and the US

Bloom, Nicholas; Manova, Kalina; Van Reenen, John; Sun, … - 2018

Persistent link: https://www.econbiz.de/10011898829

Some facts of high-tech patenting

Webb, Michael; Short, Nick; Bloom, Nicholas; Lerner, Joshua - 2018

Persistent link: https://www.econbiz.de/10011898839

The shift to remote work lessens wage-growth pressures

Barrero, Jose Maria; Bloom, Nicholas; Davis, Steven J.; … - 2022

The recent shift to remote work raised the amenity value of employment. As compensation adjusts to share the amenity-value gains with employers, wage-growth pressures moderate. We find empirical support for this mechanism in the wage-setting behavior of US employers, and we develop novel survey...

Persistent link: https://www.econbiz.de/10013273505