Tag Archives: Great Recession

Debt and the Consumption Response to Household Income Shocks

From Scott Baker: This paper exploits a new detailed household dataset with comprehensive financial information on millions of households to investigate the interaction between household balance sheets, income, and consumption during the Great Recession. In particular, I test whether consumption … Continue reading

Posted in Uncategorized | Tagged , , , , | Leave a comment

Weekend Readings

1. Taxation and Saving – A Retrospective from Alan Auerbach 2. All men are created unequal – the economist on Piketty’s new book 3. Dealing with the Financial Crisis and the Recession from Brad Delong 4. The return of “patrimonial capitalism”: review of … Continue reading

Posted in Uncategorized | Tagged , , , , , , , , , , , , , , , , , | Leave a comment

Moving to Opportunity? Migratory Insurance over the Great Recession

From Danny Yagan: Over the Great Recession, the employment rate in some U.S. cities declined by more than twice the aggregate decline. To what extent did the ability to migrate insure workers against these idiosyncratic local shocks? I answer this … Continue reading

Posted in Uncategorized | Tagged , , , , , , , | Leave a comment

Arrested Development: Theory and Evidence of Supply-Side Speculation in the Housing Market

From Nathanson and Zwick: This paper incorporates speculation into the standard supply-and-demand framework used to analyze housing booms and busts. Speculation reverses the common intuition that elastic housing supply attenuates housing booms. Housing market frictions make land a more attractive … Continue reading

Posted in Uncategorized | Tagged , , , , , , , , | Leave a comment

The Long Short Run

From Brad Delong (full article here): The problem now is that the natural interest rate – that is, the liquid safe nominal interest rate on short-term US Treasury securities – is less than zero. Thus, the central bank cannot push … Continue reading

Posted in Uncategorized | Tagged , , | Leave a comment

Caught in a Revolving Door of Unemployment

From a story by Annie Lowrey in the NYTimes today: “I’ve been turned down from McDonald’s because I was told I was too articulate,” she says. “I got denied a job scrubbing toilets because I didn’t speak Spanish and turned … Continue reading

Posted in Uncategorized | Tagged , , , , , , , , | Leave a comment

Unemployment Insurance and Disability Insurance in the Great Recession

From Andreas Mueller, Jesse Rotstein, and Till von Wachter: Disability Insurance (DI) applications are awards are countercyclical. One potential explanation is that unemployed individuals who exhaust their Unemployment Insurance (UI) benefits use DI as a form of extended benefits. We exploit … Continue reading

Posted in Uncategorized | Tagged , , , , , , | Leave a comment