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Tag Archives: demographics

An Update on How Households Are Using Stimulus Checks

Olivier Armantier, Leo Goldman, Gizem Koşar, and Wilbert van der Klaauw In October, we reported evidence on how households used their first economic impact payments, which they started to receive in mid-April 2020 as part of the CARES Act, and how they expected to use a second stimulus payment. In this post, we exploit new survey data to examine how households used the second round of stimulus checks, issued starting at the end of December 2020 as part of the Coronavirus...

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Black and White Differences in the Labor Market Recovery from COVID-19

David Dam, Meghana Gaur, Fatih Karahan, Laura Pilossoph, and Will Schirmer The ongoing COVID-19 pandemic and the various measures put in place to contain it caused a rapid deterioration in labor market conditions for many workers and plunged the nation into recession. The unemployment rate increased dramatically during the COVID recession, rising from 3.5 percent in February to 14.8 percent in April, accompanied by an almost three percentage point decline in labor force...

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Understanding the Racial and Income Gap in Commuting for Work Following COVID-19

Ruchi Avtar, Rajashri Chakrabarti, and Maxim Pinkovskiy The introduction of numerous social distancing policies across the United States, combined with voluntary pullbacks in activity as responses to the COVID-19 outbreak, resulted in differences emerging in the types of work that were done from home and those that were not. Workers at businesses more likely to require in-person work—for example, some, but not all, workers in healthcare, retail, agriculture and...

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Some Workers Have Been Hit Much Harder than Others by the Pandemic

Jaison R. Abel and Richard Deitz As the COVID-19 pandemic took hold in the United States, in just two months—between February and April 2020—the nation saw well over 20 million workers lose their jobs, an unprecedented 15 percent decline. Since then, substantial progress has been made, but employment still remains 5 percent below its pre-pandemic level. However, not all workers have been affected equally. This post is the first in a three-part series exploring disparities in labor...

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Understanding the Racial and Income Gap in COVID-19: Public Transportation and Home Crowding

Ruchi Avtar, Rajashri Chakrabarti, and Maxim Pinkovskiy This is the second post in a series that aims to understand the gap in COVID-19 intensity by race and income. In our first post, we looked at how comorbidities, uninsurance rates, and health resources may help to explain the race and income gap observed in COVID-19 intensity. We found that a quarter of the income gap and more than a third of the racial gap in case rates are explained by health status and system factors. In...

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Understanding the Racial and Income Gap in Covid-19: Health Insurance, Comorbidities, and Medical Facilities

Ruchi Avtar, Rajashri Chakrabarti, and Maxim Pinkovskiy Our previous work documents that low-income and majority-minority areas were considerably more affected by COVID-19, as captured by markedly higher case and death rates. In a four-part series starting with this post, we seek to understand the reasons behind these income and racial disparities. Do disparities in health status translate into disparities in COVID-19 intensity? Does the health system play a role through...

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Investigating the Effect of Health Insurance in the COVID-19 Pandemic

Rajashri Chakrabarti, Maxim Pinkovskiy, Will Nober, and Lindsay Meyerson Does health insurance improve health? This question, while apparently a tautology, has been the subject of considerable economic debate. In light of the COVID-19 pandemic, it has acquired a greater urgency as the lack of universal health insurance has been cited as a cause of the profound racial gap in coronavirus cases, and as a cause of U.S. difficulties in managing the pandemic more generally....

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Debt Relief and the CARES Act: Which Borrowers Face the Most Financial Strain?

Rajashri Chakrabarti, Andrew Haughwout, Donghoon Lee, William Nober, Joelle Scally, and Wilbert van der Klaauw In yesterday's post, we studied the expected debt relief from the CARES Act on mortgagors and student debt borrowers. We now turn our attention to the 63 percent of American borrowers who do not have a mortgage or student loan. These borrowers will not directly benefit from the loan forbearance provisions of the CARES Act, although they may be able to receive...

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Debt Relief and the CARES Act: Which Borrowers Benefit the Most?

Rajashri Chakrabarti, Andrew Haughwout, Donghoon Lee, William Nober, Joelle Scally, and Wilbert van der Klaauw COVID-19 and associated social distancing measures have had major labor market ramifications, with massive job losses and furloughs. Millions of people have filed jobless claims since mid-March—6.9 million in the week of March 28 alone. These developments will surely lead to financial hardship for millions of Americans, especially those who hold outstanding debts...

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Are Financially Distressed Areas More Affected by COVID-19?

Rajashri Chakrabarti, William Nober, and Maxim Pinkovskiy Building upon our earlier Liberty Street Economics post, we continue to analyze the heterogeneity of COVID-19 incidence. We previously found that majority-minority areas, low-income areas, and areas with higher population density were more affected by COVID-19. The objective of this post is to understand any differences in COVID-19 incidence by areas of financial vulnerability. Are areas that are more financially distressed...

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