Last updated: April 22, 2020
Coronavirus Economics
The purpose of this site is to collect video lectures, power point slides, news articles, research, etc. mostly written by other economists for you to see, how economists are approaching this issue.
Good Explanation of the Coronavirus impact on the Macroeconomy
Covid-19: Why is America’s death toll so high? | The Economist
The Epidemiology and Economics of Coronavirus:
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On 30 March, Sustainable Development Solutions Network (SDSN) held a webinar on the epidemiology and economics of COVID-19 attended by over 2,000 participants. This virtual event examined the implications of COVID-19 for public health policies and the SDGs, as well as science-based responses. It also addressed potential economic policies for the emergency and the recovery. The full webinar is available here.
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Killing COVID-19 – a video lecture
Lecture by Stephen Wright, Birkbeck College, University of London, that goes through some of the key mathematics and economics concepts relating to COVID-19, together with lecture slides and the Excel spreadsheet with the model simulations.
NEED Webinar on Coronavirus |
National Economic Education Delegation (NEED) Webinar on Coronavirus
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NEED: COVID-19: Economic Implications and Policy Response |
NEED: COVID-19: Economic Implications and Policy Response Power Point Presentation Deck
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The Economics of Pandemics |
Power Point Presentation on The Economics of Pandemics
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Click on the image below to learn how the US Corona Virus Stimulus package will be divided up.
Planet Money - some very cool episodes
It's actually quite hard to pick, which are the coolest episodes - since Planet Money has been doing such an amazing job covering this pandemic.
Episode 991: Lives Vs. The Economy
Is it worth it to shut down the economy to save lives? How do you know when to reopen it? Should we let people die to save the economy? Economists say each human life is worth about $10 million dollars. How did they get that number?
Episode 988: The Economics Of Hospital Beds
Bellevue, the oldest public hospital in the nation, has seen everything and survived everything. But even they might not have enough beds. Here's why.
The Jobs Crisis
April 3, 2020 • We had almost a decade of growth in the jobs market. But in the last two weeks, nearly 10 million people lost their jobs. Today, we look at the labor market — what's happening and where it's headed.
The Coronavirus Pivot
April 2, 2020 • Faced with the prospect of shutting up shop because of coronavirus, some companies are retooling and pivoting to keep their doors open and their workers employed.
Three Ideas To Fight The Recession
April 1, 2020 • Policymakers can still do more to fight the coronavirus recession. Here are three ideas that we haven't yet tried.
Episode 986: America Unemployed
March 28, 2020 • A record number of Americans filed for unemployment this week. The system isn't designed for this. What's next?
Episode 984: Food And Farmworkers
March 25, 2020 • To find out what's happening with our food, we talk to an economist, a farmer, and, of course, farmworkers.
Episode 977: Where's The Vaccine?
March 6, 2020 • Coronaviruses didn't come out of nowhere. They've actually been around for years. But economics makes it hard to find a vaccine.
Is it worth it to shut down the economy to save lives? How do you know when to reopen it? Should we let people die to save the economy? Economists say each human life is worth about $10 million dollars. How did they get that number?
Episode 988: The Economics Of Hospital Beds
Bellevue, the oldest public hospital in the nation, has seen everything and survived everything. But even they might not have enough beds. Here's why.
The Jobs Crisis
April 3, 2020 • We had almost a decade of growth in the jobs market. But in the last two weeks, nearly 10 million people lost their jobs. Today, we look at the labor market — what's happening and where it's headed.
The Coronavirus Pivot
April 2, 2020 • Faced with the prospect of shutting up shop because of coronavirus, some companies are retooling and pivoting to keep their doors open and their workers employed.
Three Ideas To Fight The Recession
April 1, 2020 • Policymakers can still do more to fight the coronavirus recession. Here are three ideas that we haven't yet tried.
Episode 986: America Unemployed
March 28, 2020 • A record number of Americans filed for unemployment this week. The system isn't designed for this. What's next?
Episode 984: Food And Farmworkers
March 25, 2020 • To find out what's happening with our food, we talk to an economist, a farmer, and, of course, farmworkers.
Episode 977: Where's The Vaccine?
March 6, 2020 • Coronaviruses didn't come out of nowhere. They've actually been around for years. But economics makes it hard to find a vaccine.
My Thoughts About Some VERY Misleading Statistics
In this talk, the speaker also mentions the importance of media and statistics that they provide in their reporting.
In that regard, I would like to point out two very misleading types of information that has been flooding the media regarding COVID19:
The first one has to do with comparing the death toll across different countries. Here is a link to one such site: https://www.worldometers.info/coronavirus/
This statistic is very misleading, because it doesn't take into consideration the size of population in each country. For example, the death toll of 10,000 in Italy is NOT the same as the death toll of 10,000 in the US. Population of Italy is a about 60.3 million, while the population of the US is 328.2 million. Hence, although the number of deaths is the same in these two countries, the impact of this death toll is very different.
On the other hand, comparing the death toll in New York State, or even the toll here in NYC to that of Italy, things look quite different. As I am writing this, the death toll in NY State is over 10,000. (11,586 to be exact, and rising). The population of NY State is about 19.5 million. At the same time, the number of deaths in Italy is 21,645. So, Italy has 4 times as many people as New York but "only" (please forgive the poor wording here) twice as many deaths. The situation for New York city is even worse. Apparently, most of the deaths in New York State are in NYC and it is reported that at least 8,000 deaths are attributed to COVID19. The population of NYC is 8.4 million.
So, the statistics is actually somewhat favorable for the US as a whole, but absolutely disastrous for New York state and almost unimaginable for NYC.
In that regard, I would like to point out two very misleading types of information that has been flooding the media regarding COVID19:
The first one has to do with comparing the death toll across different countries. Here is a link to one such site: https://www.worldometers.info/coronavirus/
This statistic is very misleading, because it doesn't take into consideration the size of population in each country. For example, the death toll of 10,000 in Italy is NOT the same as the death toll of 10,000 in the US. Population of Italy is a about 60.3 million, while the population of the US is 328.2 million. Hence, although the number of deaths is the same in these two countries, the impact of this death toll is very different.
On the other hand, comparing the death toll in New York State, or even the toll here in NYC to that of Italy, things look quite different. As I am writing this, the death toll in NY State is over 10,000. (11,586 to be exact, and rising). The population of NY State is about 19.5 million. At the same time, the number of deaths in Italy is 21,645. So, Italy has 4 times as many people as New York but "only" (please forgive the poor wording here) twice as many deaths. The situation for New York city is even worse. Apparently, most of the deaths in New York State are in NYC and it is reported that at least 8,000 deaths are attributed to COVID19. The population of NYC is 8.4 million.
So, the statistics is actually somewhat favorable for the US as a whole, but absolutely disastrous for New York state and almost unimaginable for NYC.
In addition, news agencies and social media are circulating even more disturbing statistics. For example, this was in the article few weeks back:
https://www.businessinsider.com/coronavirus-death-rate-by-country-2020-3 One of the biggest issues with this graph is the problem with testing. As it is well know by know, we are experiencing severe problems with testing for corona virus. As a result, the patients that do get tested are the ones experiencing some form of fairly obvious symptoms. This means that the death rates are completely exaggerated. For example, imagine that only the patients with the most sever symptoms, for example, the ones that require the use of ventilators, are tests and that unfortunately, all of them die. Well, in that case, the death rate, as calculated by this statistics is 100%. This is clearly not the case here. For example, studies in China and Iceland and Italy, show that most people that are infected with COVID19 don't show any signs of illness. This means that the statistics reported here are completely false. The only way to know the death rate of a disease it to take a random sample in the population and then see what the outcomes are. This issues is nicely discussed in the article Want to know how many people have the coronavirus? Test randomly. As a result of this, I believe that at this point the media should actually stop reporting the number of confirmed coronavirus cases, since it completely misses the point. |
COVID-19 and the Next Evolution of Economics
We’ve never needed new economic thinking like we do right now. The economic effects of the COVID crisis are again laying bare the failings of traditional economic thinking. But it is also forcing our institutions toward beneficial policies that would usually be anathema to orthodox understandings.
Evonomics has published hundreds of articles over the last four years that rationalize and explain what we need to do today, and why.
Here’s a guide to those articles. We hope you, our readers, will find them as fascinating and useful as we do.
New economic thinking can change the world, for the better. Please join us in sharing these ideas, and turning them into actions.
Robert Kadar, Editor
Steve Roth, Publisher
Evonomivcs
Covid-19 Is a Tragedy of the Commons—but We Can Collectively Mitigate the TragedyCoronavirus is a classic Tragedy of the Commons problem: everyone acting in their own self-interest leads to worse outcomes for the collective. But Nobel Laureate Elinor Ostrom has a solution to that tragedy: design principles for the commons. “Social Distancing” and “flattening the curve” are examples of community design principles for managing our common health and healthcare resources.
Evonomics has published hundreds of articles over the last four years that rationalize and explain what we need to do today, and why.
Here’s a guide to those articles. We hope you, our readers, will find them as fascinating and useful as we do.
New economic thinking can change the world, for the better. Please join us in sharing these ideas, and turning them into actions.
Robert Kadar, Editor
Steve Roth, Publisher
Evonomivcs
Covid-19 Is a Tragedy of the Commons—but We Can Collectively Mitigate the TragedyCoronavirus is a classic Tragedy of the Commons problem: everyone acting in their own self-interest leads to worse outcomes for the collective. But Nobel Laureate Elinor Ostrom has a solution to that tragedy: design principles for the commons. “Social Distancing” and “flattening the curve” are examples of community design principles for managing our common health and healthcare resources.
Relevant Studies - COVID19 and the Economy
The Macroeconomics of Epidemics
Martin S. Eichenbaum, Sergio Rebelo, and Mathias Trabandt
NBER Working Paper No. 26882 March 2020
Quote: “The optimal containment policy increases the severity of the recession but saves roughly 0.6 million lives in the U.S.”
Will Our Economy Die From Coronavirus?
Paul Romer and Alan M. Garber
New York Times, March 23, 2020
Quote: “To protect our way of life, we need to shift within a couple of months to a targeted approach [tests and protective equipment] that limits the spread of the virus but still lets most people go back to work and resume their daily activities.”
The Coronavirus and the Great Influenza Pandemic: Lessons from the “Spanish Flu” for the Coronavirus’s Potential Effects on Mortality and Economic Activity
Robert J. Barro, José F. Ursúa, and Joanna Weng
NBER Working Paper No. 26866, March 2020
Quote: “Mortality and economic contraction during the 1918-1920 Great Influenza Pandemic provide plausible upper bounds for outcomes under the coronavirus (COVID-19).”
Data Gaps and the Policy Response to the Novel Coronavirus
James H. Stock
NBER Working Paper No. 26902, March 2020
Quote: “A key parameter, the asymptomatic rate (the fraction of the infected that are not tested under current guidelines), is not well estimated in the literature because tests for the coronavirus have been targeted at the sick and vulnerable, however it could be estimated by random sampling of the population.”
What Will Be the Economic Impact of COVID-19 in the US? Rough Estimates of Disease Scenarios
Andrew Atkeson
NBER Working Paper No. 26867, March 2020
Quote: “Special attention is given to the question of if and when the fraction of active infections in the population exceeds 1% (at which point the health system is forecast to be severely challenged) and 10% (which may result in severe staffing shortages for key financial and economic infrastructure) as well as the cumulative burden of the disease over an 18 month horizon.”
An SEIR Infectious Disease Model with Testing and Conditional Quarantine
David W. Berger, Kyle F. Herkenhoff, and Simon Mongey
NBER Working Paper No. 26901, March 2020
Quote: “Testing .. makes possible the identification and quarantine of infected individuals and release of non-infected individuals.”
Economics in the time of COVID-19: A new eBook
Richard Baldwin, Beatrice Weder di Mauro
VOX, 06 March 2020
Quote: “Certainly, the disruptions caused by COVID-19 do amount to a natural disaster. Scaled up, the EU Solidarity Fund could step in to provide relief for affected regions and people and, beyond immediate relief, it would send an important signal.”
The supply side matters: Guns versus butter, COVID-style
Richard Baldwin
VOX, 22 March 2020
Quote: “The combination of containment policies that dampen production and stimulus policies that maintain spending will generate supply-side problems [such as rising prices].”
Pandemics and social capital: From the Spanish flu of 1918-19 to COVID-19
Arnstein Aassve, Guido Alfani, Francesco Gandolfi, Marco Le Moglie
22 March 2020
Quote: “It finds that social disruption during the period led to long-term deterioration in social trust, which had important economic consequences. The findings highlight the importance of a strong response to the COVID-19 pandemic.”
Compliance with COVID-19 Social-Distancing Measures in Italy: The Role of Expectations and Duration
Guglielmo Briscese, Nicola Lacetera, Mario Macis, and Mirco Tonin
NBER Working Paper No. 26916, March 2020
Quote: “In a context where individual compliance has collective benefits, but full enforcement is costly and controversial, communication and persuasion have a fundamental role.”
Human Mobility Restrictions and the Spread of the Novel Coronavirus (2019-nCoV) in China
Hanming Fang, Long Wang, and Yang Yang
NBER Working Paper No. 26906, March 2020
Quote: “We find that the COVID-19 cases would be 64.81% higher in the 347 Chinese cities outside Hubei province, and 52.64% higher in the 16 non-Wuhan cities inside Hubei, in the counterfactual world in which the city of Wuhan were not locked down from January 23, 2020.”
The Coronavirus Epidemic Curve is Already Flattening in New York City
Jeffrey E. Harris
NBER Working Paper No. 26917, April 2020
Quote: “As in the case of most pandemics, scientists and public officials don’t have complete, accurate, real-time data on the path of new infections.”
Macroeconomic Implications of COVID-19: Can Negative Supply Shocks Cause Demand Shortages?
Veronica Guerrieri, Guido Lorenzoni, Ludwig Straub, and Iván Werning
NBER Working Paper No. 26918, April 2020
Quote: “[C]losing down contact-intensive sectors and providing full insurance payments to affected workers can achieve the first-best allocation..”
Longer-run Economic Consequences of Pandemics
Òscar Jordà, Sanjay R. Singh, and Alan M. Taylor
NBER Working Paper No. 26934, April 2020
Quote: “Significant macroeconomic after-effects of the pandemics persist for about 40 years, with real rates of return substantially depressed.”
The Unprecedented Stock Market Impact of COVID-19
Scott R. Baker, Nicholas Bloom, Steven J. Davis, Kyle J. Kost, Marco C. Sammon, and Tasaneeya Viratyosin
NBER Working Paper No. 26945, April 2020
Quote: “These circumstances motivate efforts to address the mortality risks posed by the COVID-19 pandemic while shifting to less sweeping containment policies that do not strangle the economy..”
The Impact of COVID-19 on Gender Equality
Titan M. Alon, Matthias Doepke, Jane Olmstead-Rumsey, and Michèle Tertilt
NBER Working Paper No. 26947, April 2020
Quote: “Compared to ‘regular’ recessions, which affect men’s employment more severely than women’s employment, the employment drop related to social distancing measures has a large impact on sectors with high female employment shares.”
How Many Jobs Can be Done at Home?
Jonathan I. Dingel and Brent Neiman
NBER Working Paper No. 26948, April 2020
Quote: “Our classification implies that 37 percent of U.S. jobs can plausibly be performed at home.”
How Does Household Spending Respond to an Epidemic? Consumption During the 2020 COVID-19 Pandemic 2020 COVID-19 Pandemic
Scott R. Baker, R.A. Farrokhnia, Steffen Meyer, Michaela Pagel, and Constantine Yannelis
NBER Working Paper No. 26949, April 2020
Quote: “Households responded most strongly in states with shelter-in-place orders in place by March 29th.... The COVID-19 outbreak has upended economies around the world and we are surely just at the beginning of understanding the full impact at both a household and national level.”
Aggregate and Firm-Level Stock Returns During Pandemics, in Real Time
Laura Alfaro, Anusha Chari, Andrew N. Greenland, and Peter K. Schott
NBER Working Paper No. 26950, April 2020
Quote: “[U]nanticipated changes in predicted infections based on daily re-estimation of simple models of infectious disease forecast stock returns.”
Pandemics Depress the Economy, Public Health Interventions Do Not: Evidence from the 1918 Flu
Correia, Sergio and Luck, Stephan and Verner, Emil
SSRN, March 30, 2020
Quote: “Our findings thus indicate that [non-pharmaceutical interventions] not only lower mortality; they also mitigate the adverse economic consequences of a pandemic.”
What’s the Fed doing in response to the COVID-19 crisis? What more could it do?
Jeffrey Cheng, Dave Skidmore, and David Wessel
Thursday, April 9, 2020
Quote: “The steps that have been taken by federal, state, and local officials to mitigate the spread of the virus will limit spending and hurt the incomes of businesses and households, leading to a recession. The Fed is trying to ensure that credit continues to flow to households and businesses during this difficult time and that the financial system doesn’t amplify the shock to the economy.”
Trading Off Consumption and COVID-19 Deaths
Robert E. Hall, Charles I. Jones, and Peter J. Klenow
Stanford University and NBER, April 6, 2020
Quote: “In our baseline case, avoiding 0.81% more mortality for the population would be worth losing 26% of consumption for the entire population for a year..”
Health versus Wealth: On the Distributional Effects of Controlling a Pandemic
Andrew Glover, Jonathan Heathcote, Dirk Krueger, Jose-Victor Rios-Rull
April 9, 2020
Quote: “[W]e argue that one reason people disagree about the appropriate policy is that “lock-down” policies have very large distributional implications. These distributional effects mean that different groups prefer very different policies.”
Did California’s Shelter in Place Order Work?
Andrew I. Friedson, Drew McNichols, Joseph J. Sabia, Dhaval Dave
CHEPS Working Paper No. 2020401, April 10, 2020
Quote: “[W]e find that California’s statewide SIPO reduced COVID-19 cases by 152,443 to 196,556 and COVID-19 deaths by 1,349 to 4,865 during the first three weeks following its enactment.”
The Economy Is Ruined. It Didn’t Have to Be This Way.The Coronavirus Is Transforming Politics and Economics
The Coronavirus Is Transforming Politics and Economics
Covid-19 Infection Externalities: Trading Off Lives vs. Livelihoods
Zachary A. Bethune, Anton Korinek
NBER Working Paper No. 27009, Issued in April 2020
Covid-19: Testing Inequality in New York City
Stephanie Schmitt-Grohé, Ken Teoh, Martín Uribe
NBER Working Paper No. 27019, Issued in April 2020
Who is doing new research in the time of COVID-19? Not the female economists
Thank you to Inas R Kelly for sharing this list.
For another very good list of articles on this topic, please see Prof. Roy's blog post.
Martin S. Eichenbaum, Sergio Rebelo, and Mathias Trabandt
NBER Working Paper No. 26882 March 2020
Quote: “The optimal containment policy increases the severity of the recession but saves roughly 0.6 million lives in the U.S.”
Will Our Economy Die From Coronavirus?
Paul Romer and Alan M. Garber
New York Times, March 23, 2020
Quote: “To protect our way of life, we need to shift within a couple of months to a targeted approach [tests and protective equipment] that limits the spread of the virus but still lets most people go back to work and resume their daily activities.”
The Coronavirus and the Great Influenza Pandemic: Lessons from the “Spanish Flu” for the Coronavirus’s Potential Effects on Mortality and Economic Activity
Robert J. Barro, José F. Ursúa, and Joanna Weng
NBER Working Paper No. 26866, March 2020
Quote: “Mortality and economic contraction during the 1918-1920 Great Influenza Pandemic provide plausible upper bounds for outcomes under the coronavirus (COVID-19).”
Data Gaps and the Policy Response to the Novel Coronavirus
James H. Stock
NBER Working Paper No. 26902, March 2020
Quote: “A key parameter, the asymptomatic rate (the fraction of the infected that are not tested under current guidelines), is not well estimated in the literature because tests for the coronavirus have been targeted at the sick and vulnerable, however it could be estimated by random sampling of the population.”
What Will Be the Economic Impact of COVID-19 in the US? Rough Estimates of Disease Scenarios
Andrew Atkeson
NBER Working Paper No. 26867, March 2020
Quote: “Special attention is given to the question of if and when the fraction of active infections in the population exceeds 1% (at which point the health system is forecast to be severely challenged) and 10% (which may result in severe staffing shortages for key financial and economic infrastructure) as well as the cumulative burden of the disease over an 18 month horizon.”
An SEIR Infectious Disease Model with Testing and Conditional Quarantine
David W. Berger, Kyle F. Herkenhoff, and Simon Mongey
NBER Working Paper No. 26901, March 2020
Quote: “Testing .. makes possible the identification and quarantine of infected individuals and release of non-infected individuals.”
Economics in the time of COVID-19: A new eBook
Richard Baldwin, Beatrice Weder di Mauro
VOX, 06 March 2020
Quote: “Certainly, the disruptions caused by COVID-19 do amount to a natural disaster. Scaled up, the EU Solidarity Fund could step in to provide relief for affected regions and people and, beyond immediate relief, it would send an important signal.”
The supply side matters: Guns versus butter, COVID-style
Richard Baldwin
VOX, 22 March 2020
Quote: “The combination of containment policies that dampen production and stimulus policies that maintain spending will generate supply-side problems [such as rising prices].”
Pandemics and social capital: From the Spanish flu of 1918-19 to COVID-19
Arnstein Aassve, Guido Alfani, Francesco Gandolfi, Marco Le Moglie
22 March 2020
Quote: “It finds that social disruption during the period led to long-term deterioration in social trust, which had important economic consequences. The findings highlight the importance of a strong response to the COVID-19 pandemic.”
Compliance with COVID-19 Social-Distancing Measures in Italy: The Role of Expectations and Duration
Guglielmo Briscese, Nicola Lacetera, Mario Macis, and Mirco Tonin
NBER Working Paper No. 26916, March 2020
Quote: “In a context where individual compliance has collective benefits, but full enforcement is costly and controversial, communication and persuasion have a fundamental role.”
Human Mobility Restrictions and the Spread of the Novel Coronavirus (2019-nCoV) in China
Hanming Fang, Long Wang, and Yang Yang
NBER Working Paper No. 26906, March 2020
Quote: “We find that the COVID-19 cases would be 64.81% higher in the 347 Chinese cities outside Hubei province, and 52.64% higher in the 16 non-Wuhan cities inside Hubei, in the counterfactual world in which the city of Wuhan were not locked down from January 23, 2020.”
The Coronavirus Epidemic Curve is Already Flattening in New York City
Jeffrey E. Harris
NBER Working Paper No. 26917, April 2020
Quote: “As in the case of most pandemics, scientists and public officials don’t have complete, accurate, real-time data on the path of new infections.”
Macroeconomic Implications of COVID-19: Can Negative Supply Shocks Cause Demand Shortages?
Veronica Guerrieri, Guido Lorenzoni, Ludwig Straub, and Iván Werning
NBER Working Paper No. 26918, April 2020
Quote: “[C]losing down contact-intensive sectors and providing full insurance payments to affected workers can achieve the first-best allocation..”
Longer-run Economic Consequences of Pandemics
Òscar Jordà, Sanjay R. Singh, and Alan M. Taylor
NBER Working Paper No. 26934, April 2020
Quote: “Significant macroeconomic after-effects of the pandemics persist for about 40 years, with real rates of return substantially depressed.”
The Unprecedented Stock Market Impact of COVID-19
Scott R. Baker, Nicholas Bloom, Steven J. Davis, Kyle J. Kost, Marco C. Sammon, and Tasaneeya Viratyosin
NBER Working Paper No. 26945, April 2020
Quote: “These circumstances motivate efforts to address the mortality risks posed by the COVID-19 pandemic while shifting to less sweeping containment policies that do not strangle the economy..”
The Impact of COVID-19 on Gender Equality
Titan M. Alon, Matthias Doepke, Jane Olmstead-Rumsey, and Michèle Tertilt
NBER Working Paper No. 26947, April 2020
Quote: “Compared to ‘regular’ recessions, which affect men’s employment more severely than women’s employment, the employment drop related to social distancing measures has a large impact on sectors with high female employment shares.”
How Many Jobs Can be Done at Home?
Jonathan I. Dingel and Brent Neiman
NBER Working Paper No. 26948, April 2020
Quote: “Our classification implies that 37 percent of U.S. jobs can plausibly be performed at home.”
How Does Household Spending Respond to an Epidemic? Consumption During the 2020 COVID-19 Pandemic 2020 COVID-19 Pandemic
Scott R. Baker, R.A. Farrokhnia, Steffen Meyer, Michaela Pagel, and Constantine Yannelis
NBER Working Paper No. 26949, April 2020
Quote: “Households responded most strongly in states with shelter-in-place orders in place by March 29th.... The COVID-19 outbreak has upended economies around the world and we are surely just at the beginning of understanding the full impact at both a household and national level.”
Aggregate and Firm-Level Stock Returns During Pandemics, in Real Time
Laura Alfaro, Anusha Chari, Andrew N. Greenland, and Peter K. Schott
NBER Working Paper No. 26950, April 2020
Quote: “[U]nanticipated changes in predicted infections based on daily re-estimation of simple models of infectious disease forecast stock returns.”
Pandemics Depress the Economy, Public Health Interventions Do Not: Evidence from the 1918 Flu
Correia, Sergio and Luck, Stephan and Verner, Emil
SSRN, March 30, 2020
Quote: “Our findings thus indicate that [non-pharmaceutical interventions] not only lower mortality; they also mitigate the adverse economic consequences of a pandemic.”
What’s the Fed doing in response to the COVID-19 crisis? What more could it do?
Jeffrey Cheng, Dave Skidmore, and David Wessel
Thursday, April 9, 2020
Quote: “The steps that have been taken by federal, state, and local officials to mitigate the spread of the virus will limit spending and hurt the incomes of businesses and households, leading to a recession. The Fed is trying to ensure that credit continues to flow to households and businesses during this difficult time and that the financial system doesn’t amplify the shock to the economy.”
Trading Off Consumption and COVID-19 Deaths
Robert E. Hall, Charles I. Jones, and Peter J. Klenow
Stanford University and NBER, April 6, 2020
Quote: “In our baseline case, avoiding 0.81% more mortality for the population would be worth losing 26% of consumption for the entire population for a year..”
Health versus Wealth: On the Distributional Effects of Controlling a Pandemic
Andrew Glover, Jonathan Heathcote, Dirk Krueger, Jose-Victor Rios-Rull
April 9, 2020
Quote: “[W]e argue that one reason people disagree about the appropriate policy is that “lock-down” policies have very large distributional implications. These distributional effects mean that different groups prefer very different policies.”
Did California’s Shelter in Place Order Work?
Andrew I. Friedson, Drew McNichols, Joseph J. Sabia, Dhaval Dave
CHEPS Working Paper No. 2020401, April 10, 2020
Quote: “[W]e find that California’s statewide SIPO reduced COVID-19 cases by 152,443 to 196,556 and COVID-19 deaths by 1,349 to 4,865 during the first three weeks following its enactment.”
The Economy Is Ruined. It Didn’t Have to Be This Way.The Coronavirus Is Transforming Politics and Economics
The Coronavirus Is Transforming Politics and Economics
Covid-19 Infection Externalities: Trading Off Lives vs. Livelihoods
Zachary A. Bethune, Anton Korinek
NBER Working Paper No. 27009, Issued in April 2020
Covid-19: Testing Inequality in New York City
Stephanie Schmitt-Grohé, Ken Teoh, Martín Uribe
NBER Working Paper No. 27019, Issued in April 2020
Who is doing new research in the time of COVID-19? Not the female economists
Thank you to Inas R Kelly for sharing this list.
For another very good list of articles on this topic, please see Prof. Roy's blog post.
Please listen to this amazing speech:
On December 2, 2014, President Obama visited the National Institutes of Health (NIH) to discuss the progress we’ve made and the work we still need to do to contain and combat the Ebola outbreak.
Please watch at least the part starting at 15 minute and 30 seconds for 4 minutes.
Funny but true
Applied Learning Assignment on COVID19
SUNY Old Westbury Student has a Special Interview with Noam Chomsky on Coronavirus
Click here for more Open Education Resources (OER) created by Prof. Veronika Dolar
This course content is offered under a CC Attribution Non-Commercial Share Alike license. Content in this course can be considered under this license unless otherwise noted.
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