Saturday, May 16, 2020

Larry Summers Interview

Friday, May 08, 2020

Comparing Two Recessions

Job losses during the Great Recession of 2008-2009 were largely permanent job losses. Job losses during the Great Shutdown of 2020 are largely temporary layoffs. The future course of the economy will, of course, depend on the microbiology. But the economy seems well situated for a rapid recovery if testing, treatment, and vaccine development allows it. (Click on image to enlarge.)

An important caveat: The labor force participation rate has experienced a large drop. Perhaps there are many permanent job losers who are classified as not in the labor force because they cannot search during the pandemic.

Tuesday, May 05, 2020

COVID-19 & the Economy: A Q&A Session

Last week, I gave a webinar on COVID-19 & the Economy. If you missed it, you can get a copy by clicking here.,

Also, my publisher is creating a teaching resource for instructors, Covid-19 and the Economy Webinar: Student Guidance Questions (with Instructor notes). If you would like to receive a copy when it is available, please contact Alexis Cortez at Cengage.

The New Yorker profiles Frank Ramsey


Sunday, May 03, 2020

Velde on the 1918 Pandemic

Bottom line: It led to "a recession of 'exceptional brevity and moderate amplitude.'"

Friday, May 01, 2020

A Reading List