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This article compares inequality in US employment across social groups in the Great Recession and the COVID-19 pandemic. We develop an inequality measure that captures both how much employment declines during a recession and the persistence of those declines. The results show a significant shift...
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The US economy accounts for ¼ of the world's GDP. The dream development of USA was busted when the world major … 2008 saw herself in front of the world recession. All that state would do was either wrong nor all that market would was … right. The LPG not only gives you goodies but also the economic tsunami which even the developed world is unable to confront …
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-Infected-Recovered) transmission models from epidemic theory. This class of models addresses two important features of contagion modelling, which are a … outcome and temporal data. The latter require the introduction of a novel hierarchical model that we call the Hidden Epidemic … Model (HEM), and which embeds the stochastic financial epidemic as a latent process. The empirical results suggest, among …
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We propose in this paper a simulation framework of pandemic in financial system composed of banks, asset markets and interbank markets. This framework aims at complementing the usual stress-test strategies that evaluate the impact of shocks on individual balance-sheets without taking into...
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