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/subsidy and a labor tax/subsidy. Labor shocks, such as the COVID-19 shock, amplify the policy responses, which critically depend …
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as pandemic shock. Based on daily forecasts of the number of fatalities, we construct the surprise component as the … significantly larger drop in consumption than high-income households. Thus, consumption inequality increase after a pandemic shock …We study the response of daily household spending to the unexpected component of the COVID-19 pandemic, which we label …
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account for the vast majority of output losses. In the following stages of the epidemic income and mobility-related effects on …
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