Alessandro Di Nola,Leo Kaas,Haomin Wang
Alessandro Di Nola
While the COVID-19 pandemic had a large and asymmetric impact on firms, many countries quickly enacted massive business rescue programs which are specifically targeted to smaller firms. Little is known about the effects of such policies on ...
Employer reallocation during the COVID-19 pandemic: Validation and application of a do-it-yourself CPS [0.03%]
COVID-19大流行期间雇主的重新分配：验证和应用自助CPS的方法
Alexander Bick,Adam Blandin
Alexander Bick
Economists have recently begun using independent online surveys to collect national labor market data. Questions remain over the quality of such data. This paper provides an approach to address these concerns. Our case study is the Real-Tim...
Shouyong Shi
Shouyong Shi
This paper studies the equilibrium and the social optimum in an economy where knowledge diffusion interacts with disease transmission. Knowledge increases productivity and is diffused through learning. A learner chooses the intensities in n...
Estelle Dauchy,Francisco Navarro-Sanchez,Nathan Seegert
Estelle Dauchy
This paper fills an important gap in our understanding of the role of the US tax system in changing household welfare and inequality. It deconstructs the mechanisms by which the federal income tax system operates to affect the transmission ...
Maurice Obstfeld,Kenneth Rogoff
Maurice Obstfeld
This paper revisits the debate on ruling out speculative hyperinflations in monetary models. Although apparently a narrow issue, studying these extreme economies turns out to be quite illuminating in understanding the fundamentals of price ...
Robert J Barro,Tao Jin
Robert J Barro
Rare events (RE) and long-run risks (LRR) are complementary approaches for characterizing macroeconomic variables and understanding asset pricing. We estimate a model with RE and LRR using long-term consumption data for 42 economies, identi...
The rise of US earnings inequality: Does the cycle drive the trend? [0.03%]
美国收入不平等的加剧：是否是周期性现象导致这一趋势？
Jonathan Heathcote,Fabrizio Perri,Giovanni L Violante
Jonathan Heathcote
We document that declining hours worked are the primary driver of widening inequality in the bottom half of the male labor earnings distribution in the United States over the past 52 years. This decline in hours is heavily concentrated in r...
Jesús Fernández-Villaverde,Pablo A Guerrón-Quintana
Jesús Fernández-Villaverde
We review the literature on uncertainty shocks and business cycle research. First, we motivate the study of uncertainty shocks by documenting the presence of time-variation in the volatility of macroeconomic time series. Second, we enumerat...
Human Capital Acquisition and Occupational Choice: Implications for Economic Development [0.03%]
人力资本积累与职业选择对经济发展的影响研究
Martí Mestieri,Johanna Schauer,Robert M Townsend
Martí Mestieri
Using household-level data from Mexico we document patterns among schooling, entrepreneurial decisions and household characteristics such as assets, talent of household members and age of the household head. Motivated by our findings, we de...
Disentangling the Contemporaneous and Dynamic Effects of Human and Health Capital on Wages over the Life Cycle [0.03%]
人力资本和健康资本对生命周期内工资的 contemporaneous 和动态效应分解
Donna B Gilleskie,Euna Han,Edward C Norton
Donna B Gilleskie
We quantify the life-cycle effects of human and health capital on the wage distribution of women, with a focus on health capital measured by body mass. We use NLSY79 data on women followed annually up to twenty years during the time of thei...