“The abruptness of this shock [COVID-19] is much larger than the 2008 global financial crisis,” said Ramin Toloui, an assistant Treasury secretary for international finance during the Obama administration.
"Maybe a year or two from now, when firms relax and say . . . you can come back in two or three days a week, and spend the other couple of days at home, that's, you know, the promised land," says SIEPR Senior Fellow Nick Bloom.
SIEPR Senior Fellow Matt Gentzkow, who is leading a group of researchers tracking partisanship in the virus response, said his team initially thought that a health crisis would minimize differences—unfortunately, polarization increased.
“We already have disparities. African Americans have the lowest business-ownership rate in the population. … And so here we’re creating a situation of closures that’s hitting the groups with the lowest rates even harder,” says Robert Fairlie, a recent SIEPR visiting professor and current economics... Read More