As COVID-19 struck the United States in March 2020, sending the nation into lockdown, worry about the fate of private schools was high. These schools, which only survive if people can pay for them, seemed to face deep trouble. Many private schools have thin financial margins even in good...

Official recession figures ignore the costs associated with the loss of human life due to COVID-19. This paper constructs "full recession" measures that take into account the death toll. Key for the estimates are the number of dead, the individual's willingness to accept mortality risk, and...