Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

The Cost of the COVID-19 Crisis: Lockdowns, Macroeconomic Expectations, and Consumer Spending

Olivier COIBION, Yuriy GORODNICHENKO, Michael WEBER
We study how the differential timing of local lockdowns due to COVID-19 causally affects households’ spending and macroeconomic expectations at the local level using several waves of a customized survey with more than 10,000 respondents. About 50% of survey participants report income and wealth lo...
Keywords: Subjective expectations, consumer spending, Labor market, Employment, COVID -19, Surveys
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Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

COVID-19 Is a Persistent Reallocation Shock

Steven J. DAVIS, Nicholas A. BLOOM, Jose Maria BARRERO
Drawing on firm-level forecasts at a one-year horizon in the Survey of Business Uncertainty (SBU), we construct novel, forward-looking reallocation measures for jobs and sales. These measures rise sharply after February 2020, reaching rates in April that are 2.4 (3.9) times the pre-COVID average for...
Keywords: COVID-19, Coronavirus, reallocation shock, Survey of Business Uncertainty, CARES Act
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Commentaries

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Senior Fellows/Fellows, 2020, Pandemic

Six Lessons for Public Health in the Fight Against COVID-19

Hanming FANG
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Commentaries

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Senior Fellows/Fellows, 2020, Pandemic

Public Policy Tools to Address the COVID-19 Pandemic: Health vs. Economy

Hanming FANG
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Commentaries

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Senior Fellows/Fellows, 2020, Pandemic

Post COVID-19, How Will We Be Better?

Danny QUAH
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