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We estimate the causal effects of a pandemic-era wage subsidy program in Canada on job losses and business closures. Our estimates use administrative microdata and a regression discontinuity strategy to estimate the effects of marginal changes in the wage subsidy rate. The estimated net wage...
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How should unemployment benefits vary in response to the economic crisis induced by the COVID-19 pandemic? We answer this question by computing the optimal unemployment insurance response to the COVID-induced recession.We compare the optimal policy to the provisions under the CARES Act-which...
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contacts drastically in the beginning, to almost eradicate the epidemic, and keeps them at around a third of pre … epidemic in the laissez faire, though at a prevalence of infections much higher than optimal. Impure altruistic behaviour …
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epidemic model and link valuations to infections via an asset-pricing framework with vaccines. Infections lower earnings growth …
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