- Aug 2020
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Chang, R., & Velasco, A. (2020). Economic Policy Incentives to Preserve Lives and Livelihoods (Working Paper No. 27020; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27020
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covid-19.iza.org covid-19.iza.org
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A Literature Review of the Economics of COVID-19. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved July 31, 2020, from https://covid-19.iza.org/publications/dp13411/
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osf.io osf.io
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Enriquez, D., & Goldstein, A. (2020). Covid-19’s Socio-Economic Impact on Low-Income Benefit Recipients: Early Evidence from Tracking Surveys [Preprint]. SocArXiv. https://doi.org/10.31235/osf.io/hpqd5
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covid-19.iza.org covid-19.iza.org
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Inequality in the Impact of the Coronavirus Shock: Evidence from Real Time Surveys. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved August 7, 2020, from https://covid-19.iza.org/publications/dp13183/
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osf.io osf.io
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Love, D., Allison, E. H., Asche, F., Belton, B., Cottrell, R. S., Froehlich, H. E., Gephart, J. A., Hicks, C., Little, D. C., Nussbaumer, E. M., da Silva, P. P., Poulain, F., Rubio, A., Stoll, J. S., Tlusty, M. F., Thorne-Lyman, A. L., Troell, M., & Zhang, W. (2020). Emerging COVID-19 impacts, responses, and lessons for building resilience in the seafood system [Preprint]. SocArXiv. https://doi.org/10.31235/osf.io/x8aew
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www.thelancet.com www.thelancet.com
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Fore, H. H., Dongyu, Q., Beasley, D. M., & Ghebreyesus, T. A. (2020). Child malnutrition and COVID-19: The time to act is now. The Lancet, 0(0). https://doi.org/10.1016/S0140-6736(20)31648-2
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Rodela, T. T., Tasnim, S., Mazumder, H., Faizah, F., Sultana, A., & Hossain, M. M. (2020). Economic Impacts of Coronavirus Disease (COVID-19) in Developing Countries [Preprint]. SocArXiv. https://doi.org/10.31235/osf.io/wygpk
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www.factcheck.org www.factcheck.org
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Kiely, E., McDonald, J., Gore, D., Robertson, L., & Rieder, R. (2020, July 20). FactChecking Trump’s “Fox News Sunday” Interview. FactCheck.Org. https://www.factcheck.org/2020/07/factchecking-trumps-fox-news-sunday-interview/
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Economist Paul Krugman on fallout of states reopening too soon. (n.d.). MSNBC.Com. Retrieved June 29, 2020, from https://www.msnbc.com/am-joy/watch/coronavirus-spikes-in-state-reopening-early-discussed-by-krugman-86165573604
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www.nber.org www.nber.org
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Fairlie, R. W., Couch, K., & Xu, H. (2020). The Impacts of COVID-19 on Minority Unemployment: First Evidence from April 2020 CPS Microdata (Working Paper No. 27246; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27246
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covid-19.iza.org covid-19.iza.org
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Welfare States, Labor Markets, Social Investment and the Digital Transformation. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved August 1, 2020, from https://covid-19.iza.org/publications/dp13391/
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Mongey, S., Pilossoph, L., & Weinberg, A. (2020). Which Workers Bear the Burden of Social Distancing Policies? (Working Paper No. 27085; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27085
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www.scientificamerican.com www.scientificamerican.com
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Barber, C. (n.d.). ‘Instant Coffee’ COVID-19 Tests Could Be the Answer to Reopening the U.S. Scientific American. Retrieved August 27, 2020, from https://www.scientificamerican.com/article/instant-coffee-covid-19-tests-could-be-the-answer-to-reopening-the-u-s/
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www.theatlantic.com www.theatlantic.com
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Lowrey, A. (2020, March 31). We Need to Start Tossing Money Out of Helicopters. The Atlantic. https://www.theatlantic.com/ideas/archive/2020/03/we-need-start-tossing-money-out-helicopters/608968/
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www.theatlantic.com www.theatlantic.com
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Mull, A. (2020, April 29). Georgia’s Experiment in Human Sacrifice. The Atlantic. https://www.theatlantic.com/health/archive/2020/04/why-georgia-reopening-coronavirus-pandemic/610882/
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ca.yahoo.com ca.yahoo.com
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Coronavirus update: Sun Belt surge fans recovery fears; Trump ally Herman Cain dies. (n.d.). Retrieved August 21, 2020, from https://ca.finance.yahoo.com/news/coronavirus-update-data-stokes-recovery-fears-as-cases-rise-herman-cain-dies-from-infection-171208475.html
Tags
- politics
- economic impact
- case number
- Sun Belt
- testing
- hotspot
- lang:en
- is:news
- USA
- case increase
- COVID-19
- Herman Cain
- death rate
Annotators
URL
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www.project-syndicate.org www.project-syndicate.org
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Hausmann, Ricardo. ‘Why Zoom Can’t Save the World | by Ricardo Hausmann’. Project Syndicate, 10 August 2020. https://www.project-syndicate.org/commentary/high-economic-cost-of-business-travel-shutdown-by-ricardo-hausmann-2020-08.
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www.nber.org www.nber.org
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Lewis, D., Mertens, K., & Stock, J. H. (2020). U.S. Economic Activity During the Early Weeks of the SARS-Cov-2 Outbreak (Working Paper No. 26954; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w26954
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www.nber.org www.nber.org
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Kozlowski, J., Veldkamp, L., & Venkateswaran, V. (2020). Scarring Body and Mind: The Long-Term Belief-Scarring Effects of COVID-19 (Working Paper No. 27439; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27439
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www.nber.org www.nber.org
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Argente, D. O., Hsieh, C.-T., & Lee, M. (2020). The Cost of Privacy: Welfare Effects of the Disclosure of COVID-19 Cases (Working Paper No. 27220; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27220
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Li, L., Strahan, P. E., & Zhang, S. (2020). Banks as Lenders of First Resort: Evidence from the COVID-19 Crisis (Working Paper No. 27256; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27256
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www.cityam.com www.cityam.com
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London calling: Why it's time to bring life back to our city's streets. (n.d.). CityA.M. Retrieved August 11, 2020 from https://www.cityam.com/london-calling-why-its-time-to-bring-life-back-to-our-citys-streets/
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www.nytimes.com www.nytimes.com
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August 6, S. G. •, & 2020. (2020, August 6). Sweatpants Forever: How the Fashion Industry Collapsed. The New York Times. https://www.nytimes.com/interactive/2020/08/06/magazine/fashion-sweatpants.html
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www.nber.org www.nber.org
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Baker, S. R., Bloom, N., Davis, S. J., Kost, K. J., Sammon, M. C., & Viratyosin, T. (2020). The Unprecedented Stock Market Impact of COVID-19 (Working Paper No. 26945; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w26945
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www.nber.org www.nber.org
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Avery, C., Bossert, W., Clark, A., Ellison, G., & Ellison, S. F. (2020). Policy Implications of Models of the Spread of Coronavirus: Perspectives and Opportunities for Economists (Working Paper No. 27007; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27007
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www.nber.org www.nber.org
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Dingel, J. I., & Neiman, B. (2020). How Many Jobs Can be Done at Home? (Working Paper No. 26948; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w26948
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Mulligan, C. B. (2020). Economic Activity and the Value of Medical Innovation during a Pandemic (Working Paper No. 27060; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27060
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Gale, W. G., Gelfond, H., Fichtner, J. J., & Harris, B. H. (2020). The Wealth of Generations, With Special Attention to the Millennials (Working Paper No. 27123; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27123
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www.nber.org www.nber.org
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Berger, D. W., Herkenhoff, K. F., & Mongey, S. (2020). An SEIR Infectious Disease Model with Testing and Conditional Quarantine (Working Paper No. 26901; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w26901
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www.nber.org www.nber.org
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Barro, Robert J, José F Ursúa, and Joanna Weng. ‘The Coronavirus and the Great Influenza Pandemic: Lessons from the “Spanish Flu” for the Coronavirus’s Potential Effects on Mortality and Economic Activity’. Working Paper. Working Paper Series. National Bureau of Economic Research, March 2020. https://doi.org/10.3386/w26866.
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www.nber.org www.nber.org
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Bodenhorn, Howard. ‘Business in a Time of Spanish Influenza’. Working Paper. Working Paper Series. National Bureau of Economic Research, July 2020. https://doi.org/10.3386/w27495.
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www.nber.org www.nber.org
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Diebold, Francis X. ‘Real-Time Real Economic Activity: Exiting the Great Recession and Entering the Pandemic Recession’. Working Paper. Working Paper Series. National Bureau of Economic Research, July 2020. https://doi.org/10.3386/w27482.
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www.nber.org www.nber.org
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Moser, Christian A, and Pierre Yared. ‘Pandemic Lockdown: The Role of Government Commitment’. Working Paper. Working Paper Series. National Bureau of Economic Research, April 2020. https://doi.org/10.3386/w27062.
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www.nber.org www.nber.org
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Chari, Varadarajan V, Rishabh Kirpalani, and Christopher Phelan. ‘The Hammer and the Scalpel: On the Economics of Indiscriminate versus Targeted Isolation Policies during Pandemics’. Working Paper. Working Paper Series. National Bureau of Economic Research, May 2020. https://doi.org/10.3386/w27232.
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Diewert, W. Erwin, and Kevin J Fox. ‘Measuring Real Consumption and CPI Bias under Lockdown Conditions’. Working Paper. Working Paper Series. National Bureau of Economic Research, May 2020. https://doi.org/10.3386/w27144.
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www.nber.org www.nber.org
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Alstadsæter, A., Bratsberg, B., Eielsen, G., Kopczuk, W., Markussen, S., Raaum, O., & Røed, K. (2020). The First Weeks of the Coronavirus Crisis: Who Got Hit, When and Why? Evidence from Norway (Working Paper No. 27131; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27131
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Bethune, Z. A., & Korinek, A. (2020). Covid-19 Infection Externalities: Trading Off Lives vs. Livelihoods (Working Paper No. 27009; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27009
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arxiv.org arxiv.org
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Bracci, Alberto, Matthieu Nadini, Maxwell Aliapoulios, Damon McCoy, Ian Gray, Alexander Teytelboym, Angela Gallo, and Andrea Baronchelli. ‘The COVID-19 Online Shadow Economy’. ArXiv:2008.01585 [Physics], 6 August 2020. http://arxiv.org/abs/2008.01585.
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covid-19.iza.org covid-19.iza.org
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The Case for Releasing the Young from Lockdown: A Briefing Paper for Policymakers. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved August 8, 2020, from https://covid-19.iza.org/publications/dp13113/
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covid-19.iza.org covid-19.iza.org
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The COVID-19 Conundrum in the Developing World: Protecting Lives or Protecting Jobs?. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved August 8, 2020, from https://covid-19.iza.org/publications/dp13136/
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covid-19.iza.org covid-19.iza.org
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Should Contact Bans Be Lifted in Germany? A Quantitative Prediction of Its Effects. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved August 8, 2020, from https://covid-19.iza.org/publications/dp13151/
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covid-19.iza.org covid-19.iza.org
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The Short-Term Economic Consequences of COVID-19: Exposure to Disease, Remote Work and Government Response. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved August 8, 2020, from https://covid-19.iza.org/publications/dp13159/
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www.pnas.org www.pnas.org
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moving from emissions to concentrations in the context of forecasting long-term economic growth, the likelihood that CO2 concentrations will exceed those assumed in RCP8.5 by 2100 is at least 35%
This means that the CO2 emissions caused by use of fossile fuels should be understood as a component of all emissions caused by continued economic growth.
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Annotators
URL
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covid-19.iza.org covid-19.iza.org
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Fairlie. R. W., (2020). The Impact of COVID-19 on Small Business Owners: Evidence of Early-Stage Losses from the April 2020 Current Population Survey. Institute of Labor Economics.
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covid-19.iza.org covid-19.iza.org
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The Cost of the COVID-19 Crisis: Lockdowns, Macroeconomic Expectations, and Consumer Spending. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved August 7, 2020, from https://covid-19.iza.org/publications/dp13224/
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Altig, D., Baker, S. R., Barrero, J. M., Bloom, N., Bunn, P., Chen, S., Davis, S. J., Leather, J., Meyer, B. H., Mihaylov, E., Mizen, P., Parker, N. B., Renault, T., Smietanka, P., & Thwaites, G. (2020). Economic Uncertainty Before and During the COVID-19 Pandemic (Working Paper No. 27418; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27418
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www.nber.org www.nber.org
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Baker, S. R., Bloom, N., Davis, S. J., & Terry, S. J. (2020). COVID-Induced Economic Uncertainty (Working Paper No. 26983; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w26983
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www.nber.org www.nber.org
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Fairlie, R. W. (2020). The Impact of COVID-19 on Small Business Owners: Continued Losses and the Partial Rebound in May 2020 (Working Paper No. 27462; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27462
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www.nber.org www.nber.org
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Almond, D., Du, X., & Zhang, S. (2020). Ambiguous Pollution Response to COVID-19 in China (Working Paper No. 27086; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27086
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www.nber.org www.nber.org
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Barrero, J. M., Bloom, N., & Davis, S. J. (2020). COVID-19 Is Also a Reallocation Shock (Working Paper No. 27137; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27137
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www.nber.org www.nber.org
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Chetty, R., Friedman, J. N., Hendren, N., Stepner, M., & Team, T. O. I. (2020). How Did COVID-19 and Stabilization Policies Affect Spending and Employment? A New Real-Time Economic Tracker Based on Private Sector Data (Working Paper No. 27431; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27431
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covid-19.iza.org covid-19.iza.org
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The Effect of Business Cycle Expectations on the German Apprenticeship Market: Estimating the Impact of COVID-19. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved August 5, 2020, from https://covid-19.iza.org/publications/dp13368/
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covid-19.iza.org covid-19.iza.org
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Modelling the Distributional Impact of the COVID-19 Crisis. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved August 5, 2020, from https://covid-19.iza.org/publications/dp13235/
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covid-19.iza.org covid-19.iza.org
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Social Stability Challenged: Pandemics, Inequality and Policy Responses. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved August 5, 2020, from https://covid-19.iza.org/publications/dp13249/
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covid-19.iza.org covid-19.iza.org
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The Short-Term Economic Consequences of COVID-19: Occupation Tasks and Mental Health in Canada. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved August 5, 2020, from https://covid-19.iza.org/publications/dp13254/
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covid-19.iza.org covid-19.iza.org
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COVID-19 Crisis Fuels Hostility against Foreigners. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved August 4, 2020, from https://covid-19.iza.org/publications/dp13250/
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covid-19.iza.org covid-19.iza.org
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The Impacts of COVID-19 on Minority Unemployment: First Evidence from April 2020 CPS Microdata. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved August 4, 2020, from https://covid-19.iza.org/publications/dp13264/
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covid-19.iza.org covid-19.iza.org
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Designing Reopening Strategies in the Aftermath of COVID-19 Lockdowns: Some Principles with an Application to Denmark. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved August 4, 2020, from https://covid-19.iza.org/publications/pp158/
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covid-19.iza.org covid-19.iza.org
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Work That Can Be Done from Home: Evidence on Variation within and across Occupations and Industries. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved August 4, 2020, from https://covid-19.iza.org/publications/dp13374/
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covid-19.iza.org covid-19.iza.org
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Optimal Unemployment Benefits in the Pandemic. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved August 1, 2020, from https://covid-19.iza.org/publications/dp13389/
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covid-19.iza.org covid-19.iza.org
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Women’s Work, Housework and Childcare, before and during COVID-19. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved July 31, 2020, from https://covid-19.iza.org/publications/dp13409/
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covid-19.iza.org covid-19.iza.org
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The Lockdown Impact on Unemployment for Heterogeneous Workers. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved July 30, 2020, from https://covid-19.iza.org/publications/dp13439/
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covid-19.iza.org covid-19.iza.org
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COVID-19, Stay-At-Home Orders and Employment: Evidence from CPS Data. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved July 29, 2020, from https://covid-19.iza.org/publications/dp13282/
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covid-19.iza.org covid-19.iza.org
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Between a Rock and a Hard Place: Poverty and COVID-19 in Developing Countries. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved July 29, 2020, from https://covid-19.iza.org/publications/dp13297/
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covid-19.iza.org covid-19.iza.org
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Reacting Quickly and Protecting Jobs: The Short-Term Impacts of the COVID-19 Lockdown on the Greek Labor Market. COVID-19 and the Labor Market. (n.d.). IZA – Institute of Labor Economics. Retrieved July 27, 2020, from https://covid-19.iza.org/publications/dp13516/
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www.nber.org www.nber.org
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Glover, A., Heathcote, J., Krueger, D., & Ríos-Rull, J.-V. (2020). Health versus Wealth: On the Distributional Effects of Controlling a Pandemic (Working Paper No. 27046; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27046
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Akbarpour, M., Cook, C., Marzuoli, A., Mongey, S., Nagaraj, A., Saccarola, M., Tebaldi, P., Vasserman, S., & Yang, H. (2020). Socioeconomic Network Heterogeneity and Pandemic Policy Response (Working Paper No. 27374; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27374
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www.nber.org www.nber.org
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Guerrieri, V., Lorenzoni, G., Straub, L., & Werning, I. (2020). Macroeconomic Implications of COVID-19: Can Negative Supply Shocks Cause Demand Shortages? (Working Paper No. 26918; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w26918
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- Jul 2020
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www.nber.org www.nber.org
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Aucejo, E. M., French, J. F., Araya, M. P. U., & Zafar, B. (2020). The Impact of COVID-19 on Student Experiences and Expectations: Evidence from a Survey (Working Paper No. 27392; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27392
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Knittel, C. R., & Ozaltun, B. (2020). What Does and Does Not Correlate with COVID-19 Death Rates (Working Paper No. 27391; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27391
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Annotators
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www.cambridge.org www.cambridge.org
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Al-Ubaydli, O., Lee, M. S., List, J. A., Mackevicius, C. L., & Suskind, D. (undefined/ed). How can experiments play a greater role in public policy? Twelve proposals from an economic model of scaling. Behavioural Public Policy, 1–48. https://doi.org/10.1017/bpp.2020.17
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www.nber.org www.nber.org
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Deryugina, T., Gruber, J., & Sabety, A. (2020). Natural Disasters and Elective Medical Services: How Big is the Bounce-Back? (Working Paper No. 27505; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27505
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covid-19.iza.org covid-19.iza.org
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Naudé, W. (2020). Entrepreneurial Recovery from COVID-19: Decentralization, Democratization, Demand, Distribution, and Demography. IZA Discussion Paper, 13436.
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psyarxiv.com psyarxiv.com
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Flowe, H. D. (2020). Patterns of Violence and Its Impact on Women and Children Amidst the Covid-19 Pandemic in Kenya Policy Brief [Preprint]. PsyArXiv. https://doi.org/10.31234/osf.io/zykq7
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www.nber.org www.nber.org
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Rampini, A. A. (2020). Sequential Lifting of COVID-19 Interventions with Population Heterogeneity (Working Paper No. 27063; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27063
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www.nber.org www.nber.org
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Arellano, C., Bai, Y., & Mihalache, G. P. (2020). Deadly Debt Crises: COVID-19 in Emerging Markets (Working Paper No. 27275; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27275
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Bordalo, P., Coffman, K. B., Gennaioli, N., & Shleifer, A. (2020). Older People are Less Pessimistic about the Health Risks of Covid-19 (Working Paper No. 27494; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27494
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moodle.loyola.edu moodle.loyola.edu
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Alon, T. M., Doepke, M., Olmstead-Rumsey, J., & Tertilt, M. (2020). The Impact of COVID-19 on Gender Equality (Working Paper No. 26947; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w26947
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He, Z., Nagel, S., & Song, Z. (2020). Treasury Inconvenience Yields during the COVID-19 Crisis (Working Paper No. 27416; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27416
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www.nber.org www.nber.org
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Granja, J., Makridis, C., Yannelis, C., & Zwick, E. (2020). Did the Paycheck Protection Program Hit the Target? (Working Paper No. 27095; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27095
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Pindyck, R. S. (2020). COVID-19 and the Welfare Effects of Reducing Contagion (Working Paper No. 27121; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27121
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www.nber.org www.nber.org
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Chodorow-Reich, G., & Coglianese, J. (2020). Projecting Unemployment Durations: A Factor-Flows Simulation Approach With Application to the COVID-19 Recession (Working Paper No. 27566; Working Paper Series). National Bureau of Economic Research. https://doi.org/10.3386/w27566
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graphics.reuters.com graphics.reuters.com
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Slobin, S. (n.d.). How Remote Work Divides America. Reuters. Retrieved July 27, 2020, from https://graphics.reuters.com/HEALTH-CORONAVIRUS/USA-REMOTEWORK/xlbpgbrljvq/
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Guan, D., Wang, D., Hallegatte, S., Davis, S. J., Huo, J., Li, S., Bai, Y., Lei, T., Xue, Q., Coffman, D., Cheng, D., Chen, P., Liang, X., Xu, B., Lu, X., Wang, S., Hubacek, K., & Gong, P. (2020). Global supply-chain effects of COVID-19 control measures. Nature Human Behaviour, 1–11. https://doi.org/10.1038/s41562-020-0896-8
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Lynch, P. (2020, June 2). Lockdown break-ups and job changes boost rentals. BBC News. https://www.bbc.com/news/uk-england-52847319
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Bernheim, A., Mei, X., Huang, M., Yang, Y., Fayad, Z. A., Zhang, N., Diao, K., Lin, B., Zhu, X., Li, K., Li, S., Shan, H., Jacobi, A., & Chung, M. (2020). Chest CT Findings in Coronavirus Disease-19 (COVID-19): Relationship to Duration of Infection. Radiology, 200463. https://doi.org/10.1148/radiol.2020200463
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Loewenstein, G., & Chater, N. (2017). Putting nudges in perspective. Behavioural Public Policy, 1(1), 26–53. https://doi.org/10.1017/bpp.2016.7
Tags
- policy
- economic
- decision-making
- nudging
- behavioral science
- nudge
- economy
- lang:en
- policymaker
- is:article
- behavioral economics
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psyarxiv.com psyarxiv.com
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Williams, A. E. (2020, April 20). The Global Response to COVID-19 as an Example of a One-Sided Problem Definition in the Absence of General Collective Intelligence. https://doi.org/10.31234/osf.io/emgxc
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Nunes, A., Trappenberg, T., & Alda, M. (2020). The Definition and Measurement of Heterogeneity. https://doi.org/10.31234/osf.io/3hykf
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Dunford, J. (2020, May 28). ‘Things have to change’: Tourism businesses look to a greener future. The Guardian. https://www.theguardian.com/travel/2020/may/28/things-had-to-change-tourism-businesses-look-to-a-greener-future
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Hill, A. (2020, May 27). UK’s most vulnerable people at risk of losing 60% of their income. The Guardian. https://www.theguardian.com/world/2020/may/28/uks-most-vulnerable-people-risk-losing-60-per-cent-income
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Kenward, B., & Brick, C. (2020, May 15). Even Conservative voters prefer the environment to be at the heart of post-COVID-19 economic reconstruction in the UK. https://doi.org/10.31234/osf.io/ebzhs
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Yu, Q., Salvador, C., Melani, I., Berg, M., & Kitayama, S. (2020, May 14). The lethal spiral: Racial segregation and economic disparity jointly exacerbate the COVID-19 fatality in large American cities. https://doi.org/10.31234/osf.io/xgbpy
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Pichler, Anton, Marco Pangallo, R. Maria del Rio-Chanona, François Lafond, and J. Doyne Farmer. “Production Networks and Epidemic Spreading: How to Restart the UK Economy?” ArXiv:2005.10585 [Physics, q-Fin], May 21, 2020. http://arxiv.org/abs/2005.10585.
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jamanetwork.com jamanetwork.com
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Khullar, D., Bond, A. M., & Schpero, W. L. (2020). COVID-19 and the Financial Health of US Hospitals. JAMA. https://doi.org/10.1001/jama.2020.6269
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Orcutt, M., Patel, P., Burns, R., Hiam, L., Aldridge, R., Devakumar, D., Kumar, B., Spiegel, P., & Abubakar, I. (2020). Global call to action for inclusion of migrants and refugees in the COVID-19 response. The Lancet, 0(0). https://doi.org/10.1016/S0140-6736(20)30971-5
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Hadavand, A., Hamermesh, D.S., & Wilson, W.W. (2020). Is scholarly refereeing productive (at the margin)? The National Bureau of Economic Research. https://www.nber.org/papers/w26614
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Rathi, A. (2020, April 30). Renewables Are the Only Winners in Historic Decline in Energy Demand. Bloomberg.Com. https://www.bloomberg.com/news/articles/2020-04-30/renewables-are-the-only-winners-in-historic-decline-in-energy-demand
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- Apr 2020
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Chaves, M. S., Mattos, T. G., & Atman, A. P. F. (2020). Characterizing network topology using first-passage analysis. Physical Review E, 101(4), 042123. https://doi.org/10.1103/PhysRevE.101.042123
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Hossain, M. A. (2020). Is the spread of COVID-19 across countries influenced by environmental, economic and social factors? [Preprint]. Epidemiology. https://doi.org/10.1101/2020.04.08.20058164
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- Feb 2020
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marxdown.github.io marxdown.github.io
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Robinson Crusoe’s experiences are a favourite theme with political economists
Marx refers to the thought experiment, common in economics, which is sometimes called Robinson Crusoe economics.
Doing "Robinson Crusoe economics" consists in imagining what can be learned, if anything, from a one agent economy that will provide insight into a real world economy with lots of agents.
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According to Eschwege, the total produce of the Brazilian diamond mines for the eighty years, ending in 1823, had not realised the price of one-and-a-half years’ average produce of the sugar and coffee plantations of the same country, although the diamonds cost much more labour, and therefore represented more value.
Diamonds were first discovered in Brazil in 1729 near the city of Belo Horizonte. This started a diamond rush and a period of feverish migration of workers.
Major diamond rushes also took place in the late 19th and early 20th centuries in South Africa and South-West Africa.
Diamond rushes, like gold rushes or other types of rushes, are for Marx economic bubbles or asset bubbles (sometimes referred to today as speculative bubbles, market bubbles, price bubbles, financial bubbles, speculative manias, or balloons).
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- Jan 2020
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www.forbes.com www.forbes.com
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Gujarat often produced growth faster than the national average, fewer regulations, better infrastructure and less corruption
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- Dec 2019
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en.wikipedia.org en.wikipedia.org
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should reject the influence of both liberal capitalism and communism, ideas that inspired the revolutionary slogan "Neither East, nor West – Islamic Republic!"
In a post cold-war world, viewed in increasing binaries of left and right winds be it social liberal - conservative or socialist-capitalist tendancies, it seems incomprehensible as to how one can reject both USA's and Soviet's socio-economic models. I'm curious to know how they organize their economy in this case.
One part why the western world hates the Islamic revolution might be their lack of understanding about this exact phrase, other than the fact that Iran became a theocracy.
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- Oct 2019
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drive.google.com drive.google.com
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Trump, Brexit, and the Rise of Populism:Economic Have-Nots and Cultural Backlash
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- Mar 2019
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blogs.berkeley.edu blogs.berkeley.edu
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And it’s a contributor to the emergence of an integrated social science to understand human decision-making.
Again, economics is less a "thing". It's merging with other social and policy science.
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the basic tenets of economic theory still provide a solid foundation
What are the basic tenets? If we are challenging all aspects of economic theory (rationality, perfect knowledge, static models, profit-maximization...) then what are the basic tenets that remain unchanged?
How is economics, with all these diverse faces, different from population health? Both can include all the same forces. It's only that the latter focuses on health as a key outcome.
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The pioneer of behavioral economists was Herbert Simon, who developed the notion of bounded rationality, namely that an individual is rational, but that their ability to compute, assess, and decide are limited especially given constraints on time to make a decision.
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- Nov 2018
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www.the-hospitalist.org www.the-hospitalist.org
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“It doesn’t just help make hospitalists work better. It makes nursing better. It makes surgeons better. It makes pharmacy better.”
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“This has all been an economic move,” she says. “People sort of forget that, I think. It was discovered by some of the HMOs on the West Coast, and it was really not the HMOs, it was the medical groups that were taking risks—economic risks for their group of patients—that figured out if they sent … primary-care people to the hospital and they assigned them on a rotation of a week at a time, that they can bring down the LOS in the hospital. “That meant more money in their own pockets because the medical group was taking the risk.” Once hospitalists set up practice in a hospital, C-suite administrators quickly saw them gaining patient share and began realizing that they could be partners. “They woke up one day, and just like that, they pay attention to how many cases the orthopedist does,” she says. “[They said], ‘Oh, Dr. Smith did 10 cases last week, he did 10 cases this week, then he did no cases or he did two cases. … They started to come to the hospitalists and say, ‘Look, you’re controlling X% of my patients a day. We’re having a length of stay problem; we’re having an early-discharge problem.’ Whatever it was, they were looking for partners to try to solve these issues.” And when hospitalists grew in number again as the model continued to take hold and blossom as an effective care-delivery method, hospitalists again were turned to as partners. “Once you get to that point, that you’re seeing enough patients and you’re enough of a movement,” Dr. Gorman says, “you get asked to be on the pharmacy committee and this committee, and chairman of the medical staff, and all those sort of things, and those evolve over time.”
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- Oct 2018
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allred720fa18.commons.gc.cuny.edu allred720fa18.commons.gc.cuny.edu
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Canton
Voyage of the Empress of China, 1784. See this site for a detailed history of early US-China trade.A passage in Chapter 1 of Moby Dick describes a vigorous trade with the far East: “Posted like silent sentinels all around the town, stand thousands upon thousands of mortal men fixed in ocean reveries … some looking over the bulwarks of ships from China.”
However, trade between China and the U.S. commenced in 1784, just after the Treaty of Paris was ratified; by 1799, when Benito Cereno is set, it would still have been a relatively young trading relationship, especially considering the lengthy sea voyages required.
Principal commodities exchanged included the items mentioned by Capt. Delano (silks, sealskins, coin (specie), as well as ginseng tea, porcelain "China ware," lead, and cotton goods.<br>
A.D. Edwards, Empress of China at Mart's Jetty, Port Pirie, 1876-- Robert Bennet Forbes, Remarks on China and the China Trade. Samuel N. Dickinson, printer, 1844.
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- Sep 2018
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ndsmith.wordpress.com ndsmith.wordpress.com
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Not only is the notion that OER-sustainability is the responsibility of the end-user pragmatically unnecessary, it also places barriers to adoption that will inhibit rather than encourage future use.
This is certainly true. It reminds me of the early historical growth of the Catholic church. Paul of Tarses came in and relaxed the dietary restrictions and the need for circumcision which effectively lowered the barrier for entry into the church. One needn't be a Jew to be a follower of Jesus; this helped early growth tremendously.
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- Aug 2018
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appliednetsci.springeropen.com appliednetsci.springeropen.com
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Nevertheless, the evidence suggests that social capital and social institutions are significant predictors of economic growth, after controlling for the effects of human capital and initial levels of income (Knack and Keefer 1997), (Knack 2002).4 So trust is a relevant dimension of social interactions that has been connected to individual dyads, network formation, labor markets, and even economic growth.
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- Jul 2018
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www.economist.com www.economist.com
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So big piles of data can become a barrier to competitors entering the market, says Maurice Stucke of the University of Tennessee.
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- Nov 2017
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www.theguardian.com www.theguardian.com
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raq remains a destabilising influence to... the flow of oil to international markets from the Middle East. Saddam Hussein has also demonstrated a willingness to threaten to use the oil weapon and to use his own export programme to manipulate oil markets. This would display his personal power, enhance his image as a pan-Arab leader... and pressure others for a lifting of economic sanctions against his regime
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sites.google.com sites.google.com
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. According to the International Monetary Fund (IMF), Germany is currently the world’s 4th largest economy based on GDP (exhibit #1).
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www.econlib.org www.econlib.org
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Moreover, a large percentage of Germany’s working-age men were dead. At the time, observers thought that West Germany would have to be the biggest client of the U.S. welfare state; yet, twenty years later its economy was envied by most of the world. And less than ten years after the war people already were talking about the German economic miracle.
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- Apr 2017
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The Impact of False and Misleading Economic Data
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www.hec.edu www.hec.edu
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Countries falsifying economic data: How statistics reveal fraudulent figures
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enst31501sp2017.courses.bucknell.edu enst31501sp2017.courses.bucknell.edu
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The lure of a reindeer herding community was simple: the economic independence of herding, which was inherent in the Nenet community’s cultural practices, would serve as a fascinating study on the interplay between the lifestyle of an indigenous community and the ability for external forces to disrupt that lifestyle.
The genesis of reindeer herding carries intimate ties to the development and cultural realization of reindeer herding, as well as provide context for its eventual economic utility. The extensive presence of reindeer in Arctic regions serves as an initial observation towards their significance: today, approximately 3 million wild reindeer and 2 million domesticated reindeer exist, many of whom serve as the foundation of various indigenous communities. Over time, the relationship between reindeer and people has resulted in a “social contract” (Vitebsky, 27). The process of a mutually beneficial relationship, where materials are provided to the human and a subsequent dependency on domestication by the reindeer arises, the reindeer-human bond is formed and culturally embraced. This resulted in the emergence of the centrality of practices by herding community around the reindeer, including the ability to ride reindeer for transportation and the utilization of furs and antlers for communal clothing and materials. In today’s environment, these practices serve as the backbone for economic trade and commercialization of reindeer products and delicacies.
For more information on the history of reindeer herding as a central economic practice, refer to chapter 1 of Reindeer People. For more information on economic development, read
Piers Vitebsky, Reindeer People: Living with Animals and Spirits in Siberia (London: Harper Collins Publishers, 2005).
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- Mar 2017
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cmcforum.com cmcforum.com
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As every good CMCer with an understanding of economics should know, those with terminal illnesses are resource sinks for society. End of life care is incredibly expensive due to the frequency of hospitalizations, the increased need for specialists’ attention, etc. Those with terminal illnesses have even more expensive health care needs. Obviously, those in the final stages of a terminal illness are no longer in any position to contribute economically to society. Their continued existence may be personally meaningful to the those who love them, but from a economic perspective they are all cost and no benefit.
Obviously based on economic perspective. Compared to opposite statement, it's lack of human right, moral such concept and take a look at the economic benefit directly.
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- Jan 2017
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www.chicagotribune.com www.chicagotribune.com
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oblessness is concentrated in "economically abandoned sectors of Cook County resulting from deindustrialization," report authors said.
This is apparent on west side of Chicago.
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- Nov 2016
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hypothes.is hypothes.is
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Sharing economy can be defined as the socio-economic system which is used to describe the social and economic activities. Shared economy is also known as peer economy, collaborative consumption or share economy.http://blog.selectmytutor.co.uk/shared-economy-and-millennial-changing-the-startup-scene-in-the-uk/
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- Oct 2016
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motherboard.vice.com motherboard.vice.com
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The resource-based economy goes like this: In the future robots will do all the jobs (including creating new robots and fixing broken one). Now, imagine the world is like a public library, where you can borrow any book you want but never own it. Fresco wants all enterprise like this, whether it’s groceries, new tech, gasoline, or alcohol. He wants everything free and eventually provided to us by robots, software, and automation.
I think this is achievable, if we emphasize specialized libraries and cooperative models around resources (i.e. tool/tech libraries, food banks/co-ops)
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- Jun 2016
- Apr 2016
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grist.org grist.org
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The city of Detroit faces a catch-22: It must modernize to attract residents, but in order to modernize, it needs residents as a tax and community base.
That is the premise of Bill Adler’s article for Grist, which takes Detroit’s conundrum a step further in recognizing an important trend for growth: Going green.
Adler compares Detroit to other cities across the country, including Portland, Oregon, in analyzing how Detroit can grow and attract more residents, in particular Millennials — the new young urban professional.
Detroit’s weather, crime rate, lack of adequate emergency services, high tax rates, and lack of transportation — among other things —conspire to keep the city unattractive. So how to change that?
Greening is important, Adler writes. Part of that is urban density, now recognized as an environmental good for reducing carbon emissions. Detroit has a density of about 5,100 people per square mile, closer to suburban-style cities like San Jose than it is to other industrial-era cities, like Chicago (12,000) or Washington, D.C. (10,000). Its current density is slightly higher than Portland, Oregon, which has been recognized for its urban planning and its attractiveness to Millennials and entrepreneurs.
Detroit has existing infrastructure to support greater density, and can do more — expanding public transportation, investing in urban neighborhoods like Midtown and Corktown, expanding renewal efforts to other potentially up-and-coming areas, and turning itself into an incubator or business hub for certain business segments, such as biotechnology — could help the city become attractive to new residents.
Residents also need jobs, and Detroit does have them, with 232,000 existing jobs and just 169,000 employed Detroit residents. The problem there is that many of Detroit’s high income workers commute into the city from suburbs, while Detroit’s urban poor commute out for minimum-wage positions. Further, the city’s transportation structure is car-centric due to its early years, and it is behind the times in implementing public transit.
Detroit does have one thing in stock that could be very attractive to home buyers: Architecture. The city has Tudors and Italianate and Romanesque Revival mansions in stock and for sale. However, the surplus of beautiful homes is actually another detriment, right now, as homes are bulldozed lest they become a magnet for crime or fire hazards.
All hope is not lost, Adler writes, noting that other cities (he calls them Legacy cities) facing similar problems have managed to bounce back, or are in the process of doing so, among them Chicago, Baltimore, St. Louis, and Brooklyn.
But first, Detroit needs to figure out how to bring in people who want to live in the urban core, and provide them with the services necessary to stay.
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- Mar 2016
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download.springer.com download.springer.com
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Richard B. Freeman and colleagues [28] havecharacterized the problem as follows: ‘‘Research in the biosciences fits a tournamenteconomic structure. A tournament offers participants the chance of winning a bigprize—an independent research career, tenure, a named chair, scientific renown,awards—through competition.... It fosters intense competition by amplifying smalldifferences in productivity into large differences in recognition and reward. Well-structured tournaments stimulate competition. Because the differences in rewardsexceed the differences in output, there is a disproportionate incentive to ‘win’’’(p.2293). Research environments in which only small numbers of scientists have theopportunity to gain significant attention increase the competitive stakes: playing thegame may be a gamble, but the payoff for winning is significant [28,36]
The tournament structure of biosciences.
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- Nov 2015
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www.detroitnews.com www.detroitnews.com
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Detroit may be America’s largest broke city; it may have experienced tremendous population and job loss — but against the odds, there are still people who want to move to this former industrial hub.
This long feature story and series of personality profiles in the Detroit Free Press identifies five specific types of people moving into Motor City: Urban explorers, property seekers, native sons and daughters, entrepreneurs, and empty nesters.
This article profiled individuals who fit all of those categories in trying to create a picture of what Detroit is now, post-bankruptcy filing, and the kinds of people dedicated to bringing it back.
One pair of entrepreneurs moved to Detroit to open a restaurant, planning to capitalize on Detroit’s local food and urban agriculture movements. Deveri Gifford said: "The DIY attitude is what we really loved about the city. The fact that the city is broke really contributes to that DIY attitude because there's this perspective of 'No one else is going to do this, so if I see a problem I'm just going to fix it.' "
Another couple is moving home to Detroit, where they both went to high school. Although they’ve lived elsewhere, they wanted to return home and be part of the rebuilding effort in their city. One works for Teach for America, and the other is in manufacturing.
Retiree Maria Urquidi saw an opportunity to be part of the change in the city, and help it come back. She liked the idea of “coming up with brand new solutions” to fix problems. Detroit was also a much more affordable option for Urquidi, who worked in New York state. She was also attracted to the city’s architecture, and multitude of available, beautiful homes.
Lesley Daley, a Londoner, was also attracted to the city’s architecture, and its history. Daley called the city “a secret” and said that she has not experienced many of the negatives perceived by outsiders, such as packs of stray dogs.
Other people had varying reasons for moving to Detroit — from civic duty to a sense of opportunity and a desire to be closer to the urban core. They have experienced negatives — one couple had their car stolen, crime is a problem, and social services are lacking. But this group overwhelmingly says their experiences have been positive, and feel it is a good moment to influence change.
One young mother, who boomeranged back to the city after college, said she sees opportunity for her child.
"… He sees a lot of things he shouldn't be exposed to, especially at such a young age. But what I'm going to instill in him is that you have the power to change this. Are you going to be the one to complain about this, or are you going to be the one to change this?" she said.
Edit: Although this is a personality profile/feature piece and not a hard policy topic, it is important to our group's work in that by identifying the people who are moving to the city, we can isolate some potential policy areas to emphasize as recommendations for Detroit. For example, the restaurant-owning couple values urban and local agriculture. The city can then implement policies to foster that culture, and with those policies in place potentially attract more people. By recognizing the values and priorities of potential residents, the city can shape its policy to be more attractive.
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ntserver1.wsulibs.wsu.edu:2123 ntserver1.wsulibs.wsu.edu:2123
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G.Nelson
In their article, “Cartographies of Race and Class: Mapping the Class-Monopoly Rents of American Subprime Mortgage Capital,” Elvin Wyly, Markus Moos, Daniel Hammel, and Emanuel Kabahizi illustrate that in order to understand the subprime housing crisis of twenty-ought, one needs to understand the structural inequalities of class-monopoly rent. The understanding of class-monopoly rent has not gone away, but has shifted from a local landlord to an international landlord that regulates the renter upon the predatory practices of subprime lending. Variable rates, expensive fees, and asymmetrical information controls the tenants, like that of the 1960s land-installment contracts.
The group quickly illustrates the process of creating and packaging subprime loans. A bank or mortgage company to a borrower draws up a mortgage; that loan is quickly sold off to a Government Sponsored Enterprise (GSE); in return, the bank or mortgage company receives cash to make more loans. The original loan is, then, pooled into Collateralized Debt Obligations (CDOs) and Mortgage Backed Securities (MBS) –which are backed by Wall Street Investment Banks—and are sold around the world to various public and private institutions. The group highlights that at the time of rising home prices, the risk of a default is limited and the financial impact on the bond (MBSs and CDOs) is relatively mute. The bank could force a new mortgage, and the equity that was in the home would go to generate more income for the bank or, essentially, drop the homeowner and force them to become a renter.
In 1995, the Subprime markets accounted for $65 billion, but by 2006, the markets mushroomed to $625 billion. In 2007 a rush of delinquencies, defaults, and foreclosures, along with decreasing home values, created a credit crunch in the economy and chipped away at the confidence of the investors of MBSs and CDOs. This left the U.S. government vulnerable in which the Federal Reserve took dramatic action to buy up MBSs and of unknown values and government bonds to free up banks’ balance sheets.
Instead of taking blame within the financial markets, industry-defenders blamed the imperfect markets, the consumers for taking out more than they could manage, and the attempt by institutions to help more individuals then the markets could handle. The group illustrates, however, that institutionalized racial inequality because of credit-worthiness and lending practices are to blame for the systemic credit crunch of the twenty-ought.
Risk-based pricing --a theory that determines that an individuals ability to borrow and at what rate—has been the basis philosophy of financial markets of the last twenty years. However, the group illustrates how the philosophy has come under attack recently, and provides anything but the rosey picture that it once promised. The theory only deters moneylenders from lending to minorities and low-income individuals by providing a justification of denial to entry.
A social problem of the lack of access to homeownerships for the “underserved” (minorities and low-income individuals) gradually brought about State and Federal regulations and programs to assist homeownership for the underserved. Within the 1960s, for minorities to build up credit worthiness and equity for a bank to justify a mortgage --even if the minority already had the sufficient income to justify a mortgage—the minority would utilize a land-installment contract. This path towards homeownership often carried higher premiums. Within the 1980s, a series of laws made specific types of loans and lenders exempt from regulatory practices (337). Through the 1990s, federal and state regulators maintained the effort of providing traditional mortgages to the underserved, but at the turn of the century, small lending firms, which were backed by Wall Street, began to provide loans that were not restricted by state and federal regulations. Asymmetrical information, lack of knowledge by the consumers, led many to believe that this is the only way for them to own a home. These small lending firms were bought up by national banks and accounted them as subsidiaries, which allowed the bank to carry the exempt status in its subsidiary firm and continue the predatory practices, but now at this time, in a much grander scale. The loan restriction of the 1960s –which stems from racism-- has only transformed itself back to loan restrictions of today because of the predatory lending that is justified by the risk-based pricing theory.
I am illustrating the foresaid points of the article in my annotation to emphasize the foundation of racial-lending practices that span decades within the U.S. financial system. This will be imperative to tie into the financial credit crisis of 2008, and how municipalities suffered from this sort of practice.<br> G.Nelson
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www.nationaljournal.com www.nationaljournal.com
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“Can Detroit Rebuild Its Middle Class?” from the National Journal, Tim Alberta (2014) http://www.nationaljournal.com/next-economy/america-360/can-detroit-rebuild-its-middle-class?mref=scroll
In this fascinating article by Tim Alberta (2014) from the National Journal, there is a focus on rebuilding the middle class of Detroit with the image of diversity and self-sustainability. The underlying ideology is that a strong middle class is the key to a thriving city. There are currently 2 Detroit’s: one that portrays a downtown revival with new condos, business, and breweries, and the other that resembles a “zombieland,” completely lacking inhabitants (Alberta, 2014). Alberta (2014) says that the city’s biggest problem is a lack of residents. People are needed to build the middle class and restore the economy. Even though there is a boom of new businesses, it has not been enough to draw people to live in the depressed and abandoned neighborhoods. Reasons that young and educated workers do not want to live in Detroit is because crime is off the charts, the public school system is one of the worst in the nation, and the city’s public services are significantly lacking (Alberta, 2014).
The rebuilding attempts that are taking place are multi-faceted. City and state officials are trying to rebuild the middle class by luring educated, professional immigrants to the area. Non-profits are working to retain the graduates of Michigan’s universities. Additionally, non-profits are providing job-training and connecting employees with in-demand industries. Business organizations and coalitions are diversifying and trying to destigmatize Detroit as a manufacturing only city. Rebranding the city is considered an especially important step (Alberta, 2014). Doing this will reinforce the importance of education that was once not unnecessary to get a manufacturing job in the city. Millions in investment dollars are going into technology and the energy industry to attract a young and diversely educated workforce. “To build a long-term economic base, Detroit, like a low budget baseball team, must develop and retain homegrown talent” (Alberta, 2014). Once the middle-class is stronger, more money will be available for governmental services like schools and public works, and the city will fully start to heal.
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www.unc.edu www.unc.edu
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Breunig, C., Koski, C., & Mortensen, P. B. (2009). Stability and punctuations in public spending: A comparative study of budget functions. Journal of Public Administration Research and Theory, 20:703-722.
This article published in the Journal of Public Administration Research and Theory by Breunig, Koski, and Morentsen presents a longitudinal study of stability and punctuations of public spending in the United States and Denmark. Breunig et al apply Baumgarnter and Jones’ disproportionate information processing model as a theoretical basis for this research. (The disproportionate information processing model was presented in 2005 by Baumgartner and Jones as a more general model of their punctuated equilibrium model/theory). In addition to the two countries being compared in this quantitative study, the spending patterns across different subcategories of public budgets in the areas of health, education, transportation, military, etc. are analyzed (Brenig et al, 2009). Their findings align with what Baumgartner and Jones predicted would occur universally with spending punctuations; “political decision makers either ignore or overact to information signals from their surroundings. This results in a distinct pattern of both stability and punctuated change in policy outputs often measured in terms of public spending indices” (Brenig et al, 2009, p. 704). A pattern of kurtosis was reflected across multiple subcategories of public budgets in both countries. Kurtosis is represented in a diagram as long periods of flat, incremental change with sharp punctuations that spike rapidly and then quickly return to equilibrium (Brenig et al, 2009).
The usefulness of this study in looking at the situation in Detroit, Michigan and its fiscal crisis is that it helps explain the unprecedented fiscal punctuation that occurred in 2013. Because the policy makers did not make the small, incremental changes to respond to the changing demographics and economic environment that affected the city’s budget subcategories, the largest municipal bankruptcy in US history occurred. Who knows if the crisis could have been averted? However, punctuated equilibrium theory does help us understand why. The data presented in this article by Breunig et al (2009) reminds me of a pressure cooker; if the incremental changes do not occur- to let off steam, then there will be an explosion. This article also made me realize that a good way to study public policy is through budgetary punctuations; these punctuations are either the result of an overreaction or poor planning on the part of policy makers.
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twentyfour.fibreculturejournal.org twentyfour.fibreculturejournal.org
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G.Nelson
In her article, “Government Budgets as the Hunger Games: The Brutal Competition for State and Local Government Resources Given Municipal Securities Debt, Pension and OBEP Obligations, and Taxpayer Needs,” Professor Christine Chung provides an eye opening and thorough analysis of Detroit’s economic woes. She summarizes the latest statistical findings, which illustrates the severe loss in residents, property blight, crime rates, the maximum statutory limit of taxation reached, citizen flight, and the loss of jobs. Moreover, she illustrates the budgetary debt constraints that have ballooned to more than $18 billion, which helped prompt Detroit to file for bankruptcy; the debt to revenue ratio will only increase over the next few years; bondholders are expected to lose a substantial amount of their investment from the bankruptcy. Chung illustrates that the City’s collapse preceded by an incremental decrease in jobs. From 1970 to 2012 the number of jobs declined from 735,104 to 346,545 (Chung 666).
She illustrates that Detroit is not an exceptional case, but there are numerous municipalities that are struggling to pay debt and other obligations, e.g. pensions. Currently, out of the participating states and localities, only $2.35 trillion has been set aside to pay pensions, health care, and OPEB promised to public sector employees; however, the actual estimated cost is around $3.5 trillion: more than $1 trillion in unfunded obligations (Chung 669).
Because of Detroit’s financial instruments used to manage their budgetary obligations, they took a high stake wager on interest rates, and when the rates declined, “Detroit lost catastrophically on the swaps bet” (Chung 670). Some municipalities have used derivatives to win, but others, e.g. Orange County, California and Jefferson County, Alabama, have lost or struggled with the financial instruments.
Chung posits that the Dodd-Frank Wall Street Reform and Consumer Protection Act does not go far enough to protect stakeholders or prevent from imprudent financial-decisions-makers from erring in how they utilize risky financial instruments. She finalizes her article with the following regulatory recommendations, which should provide a clearer picture of a City’s budget, obligations and revenues: "(i) requiring compliance with uniform accounting standards, so that stakeholders can get a better sense of the state of state and local government budgets; (ii) creating a data collection resource and oversight body to help identify and manage risks associated with complex instruments, (iii) creating a data collection resources and oversight body to help identify and management risks associated with public employee compensation (particularly pensions and OPEB), and (iv) expanding the reach of the fiduciary standard to a broader range of stakeholders involved in local government financial decision-making, including public officials, underwriters, and derivatives counterparties.” (Chung 671)
Honest politicians, clear and transparent accounting, and realistic demands on the City’s and State’s resources are needed, even at the cost of upsetting some constituents. A norm can be redeveloped that can help Cities create stability and longevity.
G.Nelson
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markbinelli.com markbinelli.com
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Binelli, M. (2013). “Chapter 11, Politics.” pp. 229-51. Detroit City is the Place to Be. New York, NY: Picador.
Mark Binelli gives a good portrayal of the political upheaval that surrounded the bankruptcy of Detroit in Chapter 11 of his book, Detroit City is the Place to Be. At a time when a fiscal crisis was iinevitable, Detroit needed leadership that had experience, innovative ideas, and a vision for the failing city. Kwame Kilpatrick was elected the mayor of Detroit in 2002 and left in handcuffs in 2008, charged with 24 federal felony counts of mail fraud, wire fraud, and racketeering (Binelli, 2013). The Democrat mayor was not only stealing money from the city, he was stealing the trust of the citizens remaining in the economically devastated region. After an interim major, Democrat Dave Bing was elected in 2009 as the city’s highest ranking official. Bing was a former Detroit Piston and an auto-parts supply company owner (Binelli, 2013). Although Bing was seen as the exact opposite of flamboyant and charismatic Kilpatrick, his lack of public administration skills did not serve Detroit well.
Adding to the punctuation of bad leadership at the city level, Republican Rick Snyder became Michigan’s governor in 2011. In trying to attract new business to the state, Snyder embraced supply side economics by lowering corporate taxes by more than $1.5 billion dollars per year. He made up for the cuts by minimizing aid for higher education, reducing K-12 funding, and raising the tax rate for pensions. When cities around Michigan were at their breaking point, the state and federal government were reducing aid to local governments (Binelli, 2013).
In 2011, Governor Synder adopted the Emergency Financial Manager Law as a state response to the economic condition of cities around Michigan. Detroit’s City Council and Mayor Bing remained in power but all budgets would have to be approved by a nine person oversight board (Binelli, 2013). The city was required to cut payroll and lay-off public workers (in a city with one of the highest unemployment rates in the nation), sell off city assets, and outsource departments (Binelli, 2013). Gary Brown, Detroit City Council pro-term, said of the consent agreement between the city and the state of Michigan, it is a “great deal… if you look at the fact that we don’t have anything to bargain with, we don’t have anything to negotiate with, we’re down to the ninth hour, we don’t have any cash and we don’t have any leverage”(Binelli, 2013, p.251).
Obviously, the political climate around the Detroit Bankruptcy of 2013 was a contributing factor to this economic punctuation like none ever seen in the United States.
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ntserver1.wsulibs.wsu.edu:2062 ntserver1.wsulibs.wsu.edu:2062
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Cities are susceptible to a variety of shocks, including income. And when income shocks, and resulting population shocks, occur, where are those losses felt most significantly?
That is the question that Guerrieri et al. try to answer in “Very Local House Price Dynamics: Within-City Variation in Urban Decline: The Case of Detroit.”
The authors compare Detroit to other cities, most completely Chicago, in examining population decline by neighborhood affluence level according to the Guerrieri, Harley, and Hurst (GHH) model. In the GHH model, “individuals are endowed with either high or low income and all individuals have a preference for living around richer neighbors.”
It is assumed that richer neighbors and neighborhoods have lower crime, greater access to entertainment and amenities, better schools, etc. The model’s predicts that a population increase will gravitate toward the poorer neighborhoods near the wealthier neighborhoods in order to take as much advantage as possible of the increased amenities (called “endogenous gentrification” in GHH).<br> Likewise, when a city loses population, GHH predicts the population declines should be greater in poor neighborhoods than rich, and that fringe neighborhoods, near the rich neighborhoods, will have the greatest losses of both population and income.
To test this, the authors examined 207 census tracts in Detroit based on the 1980 Census, tracking through 2009. The data was obtained from the 1980 Neighborhood Change Database and the 2005-2008 American Community Survey.
The results in Chicago largely held with the GHH model, but in Detroit, the model was not consistent. In Detroit, the formerly rich neighborhoods experienced the largest income decline, as poor residents migrated in and the wealthy left the city. Meanwhile, the populations contracted the most in the poorest neighborhoods. Neither of these results were consistent with the model or comparison cities. There was also a demonstrated effect on housing prices, with fairly consistent housing appreciation rates across the different neighborhoods, although the poorer neighborhoods had slightly smaller increases. This, too, was inconsistent with Chicago’s changes, where poor neighborhood home prices appreciated much more than in rich. This inconsistency was not explained by the data.
Understanding who left Detroit, and where those losses were felt in terms of neighborhoods and income demographics, is important to our project as we examine the tremendous system-wide shocks that have rocked Detroit over the past few decades. This data examine those population and income losses at an extremely micro level, accounting for neighborhood and amenity shift, which is important as we look at the whole city and greater region in which it resides.
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