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Temporary Unemployment and Labor Market Dynamics during the COVID-19 Recession 2019冠状病毒病衰退期间的临时失业和劳动力市场动态
IF 5.9 3区 经济学
Brookings Papers on Economic Activity Pub Date : 2020-10-01 DOI: 10.1353/eca.2020.0032
J. Gallant, Kory Kroft, Fabian Lange, Matthew J. Notowidigdo
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引用次数: 58
Has the Paycheck Protection Program Succeeded? 薪水保护计划成功了吗?
IF 5.9 3区 经济学
Brookings Papers on Economic Activity Pub Date : 2020-10-01 DOI: 10.1353/eca.2020.0027
G. Hubbard, M. Strain
{"title":"Has the Paycheck Protection Program Succeeded?","authors":"G. Hubbard, M. Strain","doi":"10.1353/eca.2020.0027","DOIUrl":"https://doi.org/10.1353/eca.2020.0027","url":null,"abstract":"ABSTRACT:Enacted March 27, 2020, the Paycheck Protection Program (PPP) was the most ambitious and creative fiscal policy response to the pandemic recession in the United States. PPP offers forgivable loans—essentially grants—to businesses with 500 or fewer employees that meet certain requirements. In this paper, we present evidence that PPP has substantially increased the employment, financial health, and survival of small businesses, using data from Dun & Bradstreet, Inc. We use event studies and standard difference-in-differences models to estimate the effect of a small business applying for larger PPP loans and of a small business being eligible for PPP based on size. While our findings are informative, we believe it is too early to issue conclusive judgment on PPP's success. We offer lessons for the future from the PPP experience thus far.","PeriodicalId":51405,"journal":{"name":"Brookings Papers on Economic Activity","volume":null,"pages":null},"PeriodicalIF":5.9,"publicationDate":"2020-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75189390","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 72
Macroeconomic Outcomes and COVID-19: A Progress Report 《宏观经济成果与2019冠状病毒病进展报告》
IF 5.9 3区 经济学
Brookings Papers on Economic Activity Pub Date : 2020-10-01 DOI: 10.1353/eca.2020.0034
Jesús Fernández-Villaverde, C. I. Jones
{"title":"Macroeconomic Outcomes and COVID-19: A Progress Report","authors":"Jesús Fernández-Villaverde, C. I. Jones","doi":"10.1353/eca.2020.0034","DOIUrl":"https://doi.org/10.1353/eca.2020.0034","url":null,"abstract":"ABSTRACT:This paper combines data on GDP and unemployment and from Google's COVID-19 Community Mobility Reports with data on deaths from COVID-19 to study the macroeconomic outcomes of the pandemic. We present results from an international perspective using data at the country level as well as results for individual US states and key cities throughout the world. The data from these different levels of geographic aggregation offer a remarkably similar view of the pandemic despite the substantial heterogeneity in outcomes. Countries like South Korea, Japan, Germany, and Norway and cities such as Tokyo and Seoul have comparatively few deaths and low macroeconomic losses. At the other extreme, New York City, Lombardy, the United Kingdom, and Madrid have many deaths and large macroeconomic losses. There are fewer locations that seem to succeed on one dimension but suffer on the other, but these include California and Sweden. The variety of cases potentially offers useful policy lessons regarding how to use non-pharmaceutical interventions to support good economic and health outcomes.","PeriodicalId":51405,"journal":{"name":"Brookings Papers on Economic Activity","volume":null,"pages":null},"PeriodicalIF":5.9,"publicationDate":"2020-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77430844","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 66
Comments and Discussion 意见及讨论
IF 5.9 3区 经济学
Brookings Papers on Economic Activity Pub Date : 2020-09-17 DOI: 10.1353/eca.2019.0022
Michael T. Kiley, Luminita Stevens
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引用次数: 1
Macri's Macro: The Elusive Road to Stability and Growth 马克里的宏观:通往稳定和增长的难以捉摸的道路
IF 5.9 3区 经济学
Brookings Papers on Economic Activity Pub Date : 2020-09-17 DOI: 10.1353/eca.2019.0016
F. Sturzenegger
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引用次数: 8
Comments and Discussion 意见及讨论
IF 5.9 3区 经济学
Brookings Papers on Economic Activity Pub Date : 2020-09-17 DOI: 10.1353/eca.2019.0023
W. Kopczuk, N. Mankiw
{"title":"Comments and Discussion","authors":"W. Kopczuk, N. Mankiw","doi":"10.1353/eca.2019.0023","DOIUrl":"https://doi.org/10.1353/eca.2019.0023","url":null,"abstract":"","PeriodicalId":51405,"journal":{"name":"Brookings Papers on Economic Activity","volume":null,"pages":null},"PeriodicalIF":5.9,"publicationDate":"2020-09-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83310266","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Comments and Discussion 意见及讨论
IF 5.9 3区 经济学
Brookings Papers on Economic Activity Pub Date : 2020-09-17 DOI: 10.1353/eca.2019.0018
Javier Cravino, M. Kose
{"title":"Comments and Discussion","authors":"Javier Cravino, M. Kose","doi":"10.1353/eca.2019.0018","DOIUrl":"https://doi.org/10.1353/eca.2019.0018","url":null,"abstract":"","PeriodicalId":51405,"journal":{"name":"Brookings Papers on Economic Activity","volume":null,"pages":null},"PeriodicalIF":5.9,"publicationDate":"2020-09-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74989133","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Comments and Discussion 意见及讨论
IF 5.9 3区 经济学
Brookings Papers on Economic Activity Pub Date : 2020-09-17 DOI: 10.1353/eca.2019.0021
Amy N. Finkelstein, J. Skinner
{"title":"Comments and Discussion","authors":"Amy N. Finkelstein, J. Skinner","doi":"10.1353/eca.2019.0021","DOIUrl":"https://doi.org/10.1353/eca.2019.0021","url":null,"abstract":"","PeriodicalId":51405,"journal":{"name":"Brookings Papers on Economic Activity","volume":null,"pages":null},"PeriodicalIF":5.9,"publicationDate":"2020-09-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83272219","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Progressive Wealth Taxation 累进财富税
IF 5.9 3区 经济学
Brookings Papers on Economic Activity Pub Date : 2020-09-17 DOI: 10.1353/eca.2019.0017
Emmanuel Saez, G. Zucman
{"title":"Progressive Wealth Taxation","authors":"Emmanuel Saez, G. Zucman","doi":"10.1353/eca.2019.0017","DOIUrl":"https://doi.org/10.1353/eca.2019.0017","url":null,"abstract":"ABSTRACT:This paper discusses the progressive taxation of household wealth. We first discuss what wealth is, how it is distributed, and how much revenue a progressive wealth tax could generate in the United States. We try to reconcile discrepancies across wealth data sources. Second, we discuss the role a wealth tax can play to increase the overall progressivity of the U.S. tax system. Third, we discuss the empirical evidence on wealth tax avoidance and evasion as well as tax enforcement policies. We summarize the key elements needed to make a U.S. wealth tax work in light of the experience of other countries. Fourth, we discuss the real economic effects of wealth taxation on inequality, the capital stock, and economic activity. Fifth, we present a simple tractable model of the taxation of billionaires' wealth that can be applied to the Forbes list of the four hundred richest Americans since 1982 to illustrate the long-run effects of concrete wealth tax proposals on top fortunes.","PeriodicalId":51405,"journal":{"name":"Brookings Papers on Economic Activity","volume":null,"pages":null},"PeriodicalIF":5.9,"publicationDate":"2020-09-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73201284","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 126
Policies and Payoffs to Addressing America's College Graduation Deficit 解决美国大学毕业赤字的政策和回报
IF 5.9 3区 经济学
Brookings Papers on Economic Activity Pub Date : 2020-09-17 DOI: 10.1353/eca.2019.0013
Christopher Avery, Jessica S. Howell, M. Pender, Bruce I. Sacerdote
{"title":"Policies and Payoffs to Addressing America's College Graduation Deficit","authors":"Christopher Avery, Jessica S. Howell, M. Pender, Bruce I. Sacerdote","doi":"10.1353/eca.2019.0013","DOIUrl":"https://doi.org/10.1353/eca.2019.0013","url":null,"abstract":"ABSTRACT:We consider four distinct policy levers available to states for raising bachelor's degree completion rates in the United States through their public colleges and universities. We simulate these policies using elasticities from the existing literature and a matched College Board/National Student Clearinghouse data set on enrollment and degree completion. Increasing spending at public colleges and targeted elimination of tuition and fees at four-year public colleges with an income cutoff are projected to be the most effective of these policies in terms of cost per additional bachelor's degree. Reducing tuition and fees at public colleges and a distinct policy of moving students to the best available in-state public college (BISPO) are next best on a cost-benefit basis. Free community college policies are significantly less cost-effective at raising bachelor's degree completion, though such policies do improve other outcomes. Reducing community college tuition and fees to zero does lead to more associate degrees, though students are drawn away from the four-year sector in the process. Low-income students see the smallest gains from free community college policies since these students already face very low net prices of attendance.","PeriodicalId":51405,"journal":{"name":"Brookings Papers on Economic Activity","volume":null,"pages":null},"PeriodicalIF":5.9,"publicationDate":"2020-09-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76572519","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 8
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