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2020-07-06

• Fed's big stick lets it speak powerfully
  by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets, 2020-07-06 12:56:56 UTC

  The powerful stabilizing impact of the Federal Reserve’s COVID response is visible virtually across U.S. financial markets. Despite the deepest recession since the Great Depression, the NASDAQ is at a record high, the S&P 500 index is barely 8 percent below its peak, and U.S. equity and bond market volatilities are far below their March peaks. In addition, bond market liquidity has improved sharply, while investment-grade corporate yield spreads are now in line with their long-run norm. Even the trade-weighted value of the dollar has retraced roughly half of its March flight-to-safety surge . [...]

• Chris Sampson’s journal round-up for 6th July 2020
  by Chris Sampson in The Academic Health Economists' Blog, 2020-07-06 11:00:00 UTC

  Every Monday our authors provide a round-up of the latest peer-reviewed journal publications. We cover all issues of major health economics journals as well as some other notable releases. Visit our Resources page for links to more journals or follow the HealthEconBot . If you’d like to write one of our weekly journal round-ups, get in touch . Health Economics, Policy and Law Volume 15, Issue 3 The articles that I’ll highlight from the latest issue of HEPL have come in pairs, on the topics of competition, public involvement in health policy, and international differences in HTA. R [...]

2020-07-01

• What Accounts for the Rising Share of Women in the Top 1%?
  by maximorossi in NEP-LTV blog, 2020-07-01 14:43:12 UTC

  By: Burkhauser, Richard V.  (Cornell University);  Herault, Nicolas  (Melbourne Institute of Applied Economic and Social Research);  Jenkins, Stephen P. (London School of Economics);  Wilkins, Roger  (Melbourne Institute of Applied Economic and Social Research) Abstract: The share of women in the top 1% of the UK’s income distribution has been growing over the last two decades (as in several other countries). Our first contribution is to account for this secular change using regressions of the probability of being in the top 1%, fitted separately for men and women, in order to contrast b [...]

• Non Cognitive Skills and Childcare Attendance
  by maximorossi in NEP-LTV blog, 2020-07-01 14:40:37 UTC

  By: Daniela Del Boca ;  Enrica Maria Martino ;  Chiara Pronzato Abstract: While several studies have explored the determinants of cognitive outcomes, this paper focuses on non-cognitive skills, for which there is less empirical evidence. Non- cognitive skills have been recognized as important determinants of cognitive skills and later life outcomes. We analyze the impact of attending formal childcare at ages 0-2 on attitudes toward schooling and on the social behavior of children at the end of their first year of primary school and at the end of high school. We find that attendance of ch [...]

• Covid-19 and Corporate India
  by Anurodh in Ajay Shah's blog, 2020-07-01 05:44:00 UTC

  by Aakriti Mathur and Rajeswari Sengupta . India is dealing with a massive shock in the form of the Covid-19 pandemic. The first case was reported in India on 30 January, 2020. By middle of March the disease had begun spreading rapidly across the country. To prevent the spread of the virus the Indian government announced a nationwide lockdown on 24 March. The pandemic and the lockdown affected nearly all firms and sectors of the economy; however, there are likely to be significant heterogeneities. We propose a novel approach to identify firms that may have had greater exposure to the pa [...]

2020-06-30

• The Seeds of Ideology: Historical Immigration and Political Preferences in the United States
  by maximorossi in NEP-LTV blog, 2020-06-30 18:45:17 UTC

  By: Giuliano, Paola  (University of California, Los Angeles);  Tabellini, Marco  (Massachusetts Institute of Technology) Abstract: We test the relationship between historical immigration to the United States and political ideology today. We hypothesize that European immigrants brought with them their preferences for the welfare state, and that this had a long-lasting effect on the political ideology of US born individuals. Our analysis proceeds in three steps. First, we document that the historical presence of European immigrants is associated with a more liberal political ideology and w [...]

• Employer Policies and the Immigrant-Native Earnings Gap
  by maximorossi in NEP-LTV blog, 2020-06-30 18:40:30 UTC

  By: Benoit Dostie ;  Jiang Li ;  David Card ;  Daniel Parent Abstract: We use longitudinal data from the income tax system to study the impacts of firms’ employment and wage-setting policies on the level and change in immigrant-native wage differences in Canada. We focus on immigrants who arrived in the early 2000s, distinguishing between those with and without a college degree from two broad groups of countries – the U.S., the U.K. and Northern Europe, and the rest of the world. Consistent with a growing literature based on the two-way fixed effects model of Abowd, Kramarz, and Margolis [...]

• Così la giustizia lenta allunga i ritardi dei lavori comunali
  by Gianpiero Mattera e Carlo Menon in La Voce, 2020-06-30 10:25:40 UTC

  Anche gli appalti comunali sono condizionati dall’inefficienza del tribunale locale. Se i termini previsti dal contratto sono già stati superati, il ritardo si accentua. Una prova di più della necessità di una riforma organica della giustizia civile. Giustizia civile e ritardi nei lavori pubblici La giustizia civile in Italia è spesso considerata un freno alla crescita e alla competitività delle imprese . Secondo un recente studio , la sua lentezza incide anche sul ritardo nell’esecuzione degli appalti pubblici: le stime indicano che all’aumentare di un anno della durata media dei processi, i [...]

• How to deal with abusive patent enforcement within the EU enforcement framework
  by Neil Wilkof in The IPKat, 2020-06-30 08:47:00 UTC

  Kat friends Prof. A. Strowel and Dr. A. Léonard share their thoughts on how to deal with abusive patent enforcement within the EU enforcement framework. The IP Enforcement Directive (2004/48) was originally meant to fight piracy and counterfeiting, in particular in the field of copyright. However, at the time of adoption, no agreement could be reached on the definition of those unlawful practices. Therefore, at the end of the legislative process, the Directive was stretched to cover “any infringement” of IP rights – including patents. This all-encompassing scope is rather unfortunate as some [...]

2020-06-29

• The Macroeconomic Stabilization Of Tariff Shocks: What Is The Optimal Monetary Response?
  by Christian Zimmermann in NEP-DGE blog, 2020-06-29 20:30:56 UTC

  By Paul Bergin and Giancarlo Corsetti http://d.repec.org/n?u=RePEc:cam:camdae:2026&r=dge In the wake of Brexit and the Trump tariff war, central banks have had to reconsider the role of monetary policy in managing the economic effects of tariff shocks, which may induce a slowdown while raising inflation. This paper studies the optimal monetary policy responses using a New Keynesian model that includes elements from the trade literature, including global value chains in production, firm dynamics, and comparative advantage between two traded sectors. We find that, in response to a symmetric tari [...]

• Chris Sampson’s journal round-up for 29th June 2020
  by Chris Sampson in The Academic Health Economists' Blog, 2020-06-29 11:00:06 UTC

  Every Monday our authors provide a round-up of the latest peer-reviewed journal publications. We cover all issues of major health economics journals as well as some other notable releases. Visit our Resources page for links to more journals or follow the HealthEconBot . If you’d like to write one of our weekly journal round-ups, get in touch . PharmacoEconomics Volume 38, Issue 7 A chunk of this issue is dedicated to research and debate about the guidance provided by the US National Comprehensive Cancer Network (NCCN) in their ‘Evidence Blocks’, which essentially constitute a value f [...]

2020-06-25

• From Farming to Female Empowerment
  by M Niaz Asadullah in Project Syndicate, 2020-06-25 11:32:31 UTC

  KUALA LUMPUR – South Asia’s record on gender equality is weak, to say the least. The region has the world’s highest rate of child marriage, and domestic violence against women is pervasive. Women are over-represented in unpaid work, and under-represented in the labor force, even in countries like Sri Lanka , which has invested heavily in girls’ schooling. Yet there is one sector where women are taking over: agriculture. This is an opportunity for women’s economic empowerment that should not be missed. As South Asian economies develop, men are increasingly pursuing employment in manufacturing ( [...]

2020-06-24

• Campbell: Relative Prices and Hysteresis: Evidence from US Manufacturing—Noted
  by ? in Grasping Reality with the Invisible Hand, 2020-06-24 17:00:05 UTC

  It was from economic and technological historians like Nate Rosenberg, David Hounshell, and my own great great uncle Abbott Payson Usher’s works that I first learned about the crucial importance of externalities from communities of engineering practice in [...]

• The OECD Development Centre in the 1980s
  by ReibReisen in ShiftingWealth, 2020-06-24 16:31:00 UTC

  The OEEC had been the European child of the Marshall Plan since 1948, the OECD was its North Atlantic grandson since 1961; the OECD Development Centre became its South oriented late-birth. Founded in 1962 at the suggestion of the then US President John F. Kennedy [1] , the semi-autonomous research-oriented institution was intended to serve as a forum for the exchange of policy know-how and as a link between OECD members and developing countries. Despite offers from the IMF (DC), Moody's (NYC), KfW (Ffm) and GIGA (HH), I remained associated with the Development Centre in Paris for almost 29 lo [...]

2020-06-23

• The Great Debt Cleanup
  by Daron Acemoglu in Project Syndicate, 2020-06-23 15:26:33 UTC

  BOSTON – With more than $7.5 trillion owed to external creditors, emerging economies’ debt-service costs are becoming increasingly onerous just when they need as much fiscal space as possible to confront the COVID-19 crisis. While there is a strong case for canceling much of this debt, many key players oppose doing so, arguing that it would limit these countries’ access to international markets in the future, thereby reducing investment and growth. In fact, the evidence for this view is fairly weak . Far from reliably boosting investment and growth, international financial flows are more likel [...]

• Two papers on the demographics of wealth and the real interest rate decline
  by Christian Zimmermann in NEP-DGE blog, 2020-06-23 13:57:52 UTC

  Intergenerational wealth inequality: the role of demographics By António Antunes and Valerio Ercolani http://d.repec.org/n?u=RePEc:ptu:wpaper:w202009&r=dge During the last three decades in the US, the older part of the population has become significantly richer, in contrast with the younger part, which has not. We show that demographics account for a significant part of this intergenerational wealth gap rise. In particular, we develop a general equilibrium model with an OLG structure which is able to mimic the wealth distribution of the household sector in the late 1980s, conditional on its a [...]

• Das gefährliche Beispiel Spaniens
  by Markus Diem Meier in Never mind the markets, 2020-06-23 03:00:17 UTC

  Weniger Lohn, gleich bleibende Preise: Lohnkürzungen schmälern die Kaufkraft der Spanier. Foto: Keystone Im Jahr 2007 verzeichnete Spanien ein Leistungsbilanzdefizit von 10 Prozent gemessen an der eigenen Wirtschaftsleistung. In diesem Ausmass hat das Land mehr Güter, Dienste und weitere Leistungen aus dem Ausland bezogen als dahin verkauft. Ein Jahrzehnt später und nach schweren Krisen resultierte ein Leistungsbilanzüberschuss.  Der übliche Weg, um einen solchen Wandel hinzubekommen, liegt in der Abwertung der eigenen Währung. Doch das war für Länder der Eurozone nicht möglich. Der Rat währen [...]

2020-06-22

• Chris Sampson’s journal round-up for 22nd June 2020
  by Chris Sampson in The Academic Health Economists' Blog, 2020-06-22 11:00:03 UTC

  Every Monday our authors provide a round-up of the latest peer-reviewed journal publications. We cover all issues of major health economics journals as well as some other notable releases. Visit our Resources page for links to more journals or follow the HealthEconBot . If you’d like to write one of our weekly journal round-ups, get in touch . Value in Health Volume 23, Issue 6 The latest issue of Value in Health is bookended with two new definitions. Leading the way is a report from the ISPOR Patient-Centred Special Interest Group. The group set out to define patient engagement in r [...]

2020-06-21

• An Open Letter to Randal K. Quarles, Federal Reserve Vice Chair for Supervision
  by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets, 2020-06-21 18:01:15 UTC

  Sunday, June 21, 2020 Dear Vice Chair Quarles, Nearly three years ago, we wrote an open letter congratulating you on your nomination as the first Vice Chair for Supervision on the Board of Governors of the Federal Reserve System. In that letter, we highlight the central mission of ensuring the resilience and promoting the dynamism of the U.S. financial system. Today we write to express our profound disappointment regarding the plans (expressed in your June 19 speech on “ The Adaptability of Stress Testing “) to limit the disclosure of this year’s large-bank stress tests. In our view, failure t [...]

2020-06-20

• Savings externalities and wealth inequality
  by Christian Zimmermann in NEP-DGE blog, 2020-06-20 00:40:02 UTC

  By Konstantinos Angelopoulos, Spyridon Lazarakis and James Malley http://d.repec.org/n?u=RePEc:gla:glaewp:2019-05&r=dge Incomplete markets models imply heterogeneous household savings behaviour which in turn generates pecuniary externalities via the interest rate. Conditional on differences in the processes determining household earnings for distinct groups in the population, these savings externalities may contribute to inequality. Working with an open economy heterogenous agent model, where the interest rate only partially responds to domestic asset supply, we find that differences in the ea [...]

2020-06-18

• Lockdown threats to capital
  by chris in Stumbling and Mumbling, 2020-06-18 12:39:52 UTC

  Many economists agree that a premature lifting of the lockdown will not necessarily boost the economy greatly. As both Simon and Jo say, if people fear catching the virus they'll avoid shops and restaurants even if they are open. Which poses the question. Why, then, are so many on the right so keen to lift the lockdown? In part, the answer might lie in a useful concept of Michal Kalecki's (pdf) - their "class instinct." This tells them that a prolonged lockdown - especially combined with inadequate protection for workers and businesses - threatens the longer-term health of capital. The sooner [...]

• Thesis Thursday: Ekaterina Bordea
  by Chris Sampson in The Academic Health Economists' Blog, 2020-06-18 06:00:26 UTC

  On the third Thursday of every month, we speak to a recent graduate about their thesis and their studies. This month’s guest is Dr Ekaterina Bordea who has a PhD from City, University of London . If you would like to suggest a candidate for an upcoming Thesis Thursday, get in touch. Title Essays on the effect of immigration and assimilation on immigrants’ health and health behaviours: evidence from the United Kingdom and Russian Federation Supervisors Mireia Jofre-Bonet , Alice Mesnard Repository link https://openaccess.city.ac.uk/id/eprint/24194/ Why might immigrants be more or less he [...]

2020-06-16

• Disease and Unease in New York City (Part I): Mortality Rates since 1800
  by Jason Barr in Skynomics Blog, 2020-06-16 12:15:11 UTC

  Jason M. Barr           June 16, 2020 Pandemic 2020 On March 11, 2020, the World Health Organization officially declared the COVID-19 outbreak a pandemic. The first case appeared in Wuhan, China, on December 31, 2019. It arrived in the United States toward the end of January. On March 1, the New York metropolitan region saw its initial infection, and soon after, it became one of the world’s epicenters. The general response by governors across the country was to close businesses, schools, and other public institutions , and send everyone home to “shelter in place.” While the epidemic in New Yor [...]

• Ethics of Behavioural Science Policy: Nudge FORGOOD
  by Liam Delaney in Economics, Psychology and Policy, 2020-06-16 00:00:00 UTC

  This is one of a series of "living posts" that will updated periodically. See more examples on the right-hand side-bar of the blog.  The post below has been developed since 2015 to keep tabs on various discussions about ethical aspects of behavioural science and policy. I will continue to update this post through the next three years. The paper linked here (abstract below), co-authored with Leonhard Lades and published in Behavioural Public Policy, is an attempt to summarise what has become a very large literature on ethics into a framework that is useful for project development and training. [...]

2020-06-15

• The Fed's Crystal Ball: Looking Beyond the COVID-19 Recession
  by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets, 2020-06-15 11:14:52 UTC

  “[W]e're not thinking about raising rates. We're not even thinking about thinking about raising rates.” (emphasis added) Federal Reserve Chair Jerome Powell, press conference transcript , June 10, 2020 Over the past 75 years, no one has seen anything like the COVID-19 shock to the global economy. Nor have we seen anything like the swift, broad and massive fiscal and monetary expansion that followed. Nevertheless, the June OECD Economic Outlook now predicts that OECD economies will contract by 7.5% this year—more than twice as large as the decline in the Great Financial Crisis (GFC) of 2007-09. [...]

• Chris Sampson’s journal round-up for 15th June 2020
  by Chris Sampson in The Academic Health Economists' Blog, 2020-06-15 11:00:19 UTC

  Every Monday our authors provide a round-up of the latest peer-reviewed journal publications. We cover all issues of major health economics journals as well as some other notable releases. Visit our Resources page for links to more journals or follow the HealthEconBot . If you’d like to write one of our weekly journal round-ups, get in touch . Health Economics Volume 29, Issue 7 The July 2020 issue of Health Economics includes a variety of theoretical, empirical, and methodological papers. Of most interest to me is a paper on Sen’s capability approach . The authors establish a theore [...]

2020-06-14

• The Social Benefits of Social Capital in Fire Fighting Units Contrasted with the Social Cost of Social Capital in Police Units
  by Matthew E. Kahn in Environmental and Urban Economics, 2020-06-14 14:35:00 UTC

  Fire fighters in a city such as Baltimore have a better defined job than the police.� Fire fighters do not set fires.� They put out fires and save those at risk.� Fires occur at random times in random parts of the city. The quality of the fire fighting unit can be measured using;� 1. time until the unit arrives on the scene.� 2. time until the fire fighters put out the fire.� 3. total cost for putting out the fire. Each member of the fire fighting unit knows his role and the individual team members know whether other complementary members of the team did their job.� A KEY POINT.� Once the fire [...]

2020-06-12

• Some Thoughts on the 2019 JEL Review of My Co-Authored China Book
  by Matthew E. Kahn in Environmental and Urban Economics, 2020-06-12 01:08:00 UTC

  In 2019, Ian Coxhead wrote a tough Journal of Economic Literature review of my co-authored 2016 book Blue Skies Over Beijing: Economic Growth and the Environment (joint with Siqi Zheng of MIT).� �In this blog post, I won't comment on specifics about his review but I would like to restate our main thesis.� I hope this helps young scholars think about some open research questions. Our main thesis is that rising educational attainment by increasingly sophisticated urbanites creates an upper-middle class who demand blue skies.� Given that China has developed later than Japan, Korea, the U.S and Eu [...]

2020-06-10

• Unemployment insurance, Recalls and Experience Rating
  by Christian Zimmermann in NEP-DGE blog, 2020-06-10 23:11:56 UTC

  By Julien Albertini, Xaivier Fairise and Anthony Terriau http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-02559317&r=dge In the US, almost half of unemployment spells end through recall. In this paper, we show that the probability of being recalled is much higher among unemployment benefit recipients than nonrecipients. We argue that a large part of the observed difference in recall shares is accounted for by the design of the unemployment insurance financing scheme characterized by an experience rating system. We develop a search and matching model with different unemployment insurance status [...]

• Leçons historiques des fortes augmentations de la dette publique
  by Emeline in Bloc-Notes Eco, 2020-06-10 12:52:02 UTC

  Publié le 10/06/2020 Par Vincent Bignon et Pierre Sicsic Les fortes augmentations de la dette publique ont suivi les guerres. Si au 20ième siècle elles ont en général débouché sur une forte inflation, cela n’avait pas été le cas lors des siècles précédents. Une des raisons est le cantonnement de cette dette afin de reporter son remboursement dans le futur. billet_165_vf_2.pdf Graphique 1 : Inflation et dette publique au Royaume Uni (1700-1950) Source : Banque d’Angleterre Dans l’imaginaire collectif, les après-guerres sont associés à l’inflation voire à l’hyperinflation. Comme les [...]

2020-06-08

• Populismo fermato dal coronavirus?
  by Rony Hamaui in La Voce, 2020-06-08 14:09:35 UTC

  In tutto il mondo i governi più conservatori e populisti hanno a lungo cercato di minimizzare la portata della pandemia. Ma i cittadini sembrano premiare, almeno per ora, le amministrazioni che sono intervenute con tempestività e misure drastiche. Il virus divide gli Stati Uniti Se qualcuno ritiene ancora che le opinioni sulle questioni medico-sanitarie siano indipendenti dal credo politico è bene che cambi velocemente parere. A fine aprile, quando la pandemia aveva già colpito gli Stati Uniti con oltre un milione di casi e fatto decine di migliaia di morti, solo il 40 per cento dei cittadini [...]

• Chris Sampson’s journal round-up for 8th June 2020
  by Chris Sampson in The Academic Health Economists' Blog, 2020-06-08 11:00:08 UTC

  Every Monday our authors provide a round-up of the latest peer-reviewed journal publications. We cover all issues of major health economics journals as well as some other notable releases. Visit our Resources page for links to more journals or follow the HealthEconBot . If you’d like to write one of our weekly journal round-ups, get in touch . Medical Care Volume 58, Issue 6 The main interest for me in this issue is two papers on the SF-6D. The first paper describes the development of a new classification system based on the SF-36v2, using factor analysis, Rasch analysis, and testing [...]

2020-06-04

• Lockdowns, Loneliness and Life Satisfaction
  by maximorossi in NEP-LTV blog, 2020-06-04 20:07:04 UTC

  By: Hamermesh, Daniel S.  (Barnard College) Abstract: Using the 2012-13 American Time Use Survey, I find that both who people spend time with and how they spend it affect their happiness, adjusted for numerous demographic and economic variables. Satisfaction among married individuals increases most with additional time spent with spouse. Among singles, satisfaction decreases most as more time is spent alone. Assuming that lockdowns constrain married people to spend time solely with their spouses, simulations show that their happiness may have been increased compared to before the lockdow [...]

• Market income inequality, left-wing political parties, and redistribution in Latin America
  by maximorossi in NEP-LTV blog, 2020-06-04 20:05:42 UTC

  By: Branko MILANOVIC Abstract: The paper uses household-level data from more than 200 household income surveys from 20 Latin American and Caribbean countries to explore the (revised) median voter hypothesis and the political determinants of the recent decrease of Latin American inequality. We find that more unequal market-income countries, and greater market-income inequality within a given country, are associated with greater pro-poor redistribution, although such redistribution is rather weak in Latin America compared to the economically advanced countries. We also find that more pro-l [...]

2020-06-03

• Transaction Costs are the Costs of Engaging in Economic Calculation
  by ? in Econlog, 2020-06-03 21:54:10 UTC

  This year marks the 100 th anniversary of the publication of Ludwig von Mises ’s seminal article, “Economic Calculation in the Socialist Commonwealth,” which marked the first salvo in what later became the socialist calculation debate. Though the contributions of F.A. Hayek to that debate, and to economic science more broadly, have been well recognized, what is somewhat forgotten today is that the fundamental contributions of another economist were also born out of the socialist calculation debate. I am referring to none other than Ronald Coase .   As Coase outlines in his Nobel Prize Addre [...]

2020-06-02

• Cash Transfer Programs and Household Labor Supply
  by maximorossi in NEP-LTV blog, 2020-06-02 16:33:27 UTC

  By: Daniela Del Boca ;  Chiara Pronzato ;  Giuseppe Sorrenti Abstract: Employment contributes to reduce the risk of poverty. Through a randomized controlled trial, we evaluate the impact of a conditional cash transfer program (CCT) to low-income families with dependent children on household members’ labor supply. The attendance of labor-market-oriented mentoring courses constitutes the condition to obtain the transfer. One year after admission to the program, fathers assigned to the CCT program are more likely to work (+14 percent) than fathers assigned to an unconditional cash transfer [...]

• When to release the lockdown: a wellbeing framework for analysing costs and benefits
  by maximorossi in NEP-LTV blog, 2020-06-02 16:31:35 UTC

  By: Layard, Richard ;  Clark, Andrew E. ;  De Neve, Jan-Emmanuel ;  Krekel, Christian ;  Fancourt, Daisy ;  Hey, Nancy ;  O’Donnell, Gus Abstract: In choosing when to end the lockdown, policy-makers have to balance the impact of the decision upon incomes, unemployment, mental health, public confidence and many other factors, as well as (of course) upon the number of deaths from COVID-19. To facilitate the decision it is helpful to forecast each factor using a single metric. We use as our metric the number of Wellbeing-Years resulting from each date of ending the lockdown. This new metric [...]

• Inequality in the Impact of the Coronavirus Shock: Evidence from Real Time Surveys
  by maximorossi in NEP-LTV blog, 2020-06-02 16:25:01 UTC

  By: Abi Adams-Prassl ;  Teodora Boneva ;  Marta Golin ;  Christopher Rauh Abstract: We present real time survey evidence from the UK, US and Germany showing that the labor market impacts of COVID-19 differ considerably across countries. Employees in Germany, which has a well-established short-time work scheme, are substantially less likely to be affected by the crisis. Within countries, the impacts are highly unequal and exacerbate existing inequalities. Workers in alternative work arrangements and in occupations in which only a small share of tasks can be done from home are more likely [...]

• Anche il Jobs act influenza le scelte di maternità
  by Maria De Paola, Roberto Nisticò e Vincenzo Scoppa in La Voce, 2020-06-02 09:03:44 UTC

  Una maggiore incertezza sulle prospettive occupazionali si traduce in un minor numero di figli. Lo mostra uno studio sugli effetti del Jobs act sulle decisioni di fertilità delle lavoratrici. È un campanello d’allarme per un paese dalla bassa natalità. Il calo delle nascite Ormai da anni, i bassi tassi di fertilità, che contraddistinguono molti paesi avanzati, sono al centro del dibattito economico e politico e sono percepiti con preoccupazione dalla società nel suo complesso. L’attuale tasso di fertilità totale è inferiore al tasso di sostituzione della popolazione di 2,1 in quasi tutti i pae [...]

2020-06-01

• Chris Sampson’s journal round-up for 1st June 2020
  by Chris Sampson in The Academic Health Economists' Blog, 2020-06-01 11:00:00 UTC

  Every Monday our authors provide a round-up of the latest peer-reviewed journal publications. We cover all issues of major health economics journals as well as some other notable releases. Visit our Resources page for links to more journals or follow the HealthEconBot . If you’d like to write one of our weekly journal round-ups, get in touch . Welcome to the first edition of our journal round-ups in a revised format. Rather than covering just a few recently published articles, we’ll now be summarising whole issues of recently published journals. Our original format was simultaneously deman [...]

2020-05-31

• Fiscal Space Has Limits, Too
  by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets, 2020-05-31 15:13:38 UTC

  “ Italy is a country that manages to have a growth rate that is below the interest rate, no matter how low the interest rate is. ” Alberto Alesina , September 20, 2019. “[D ]ebt does not avoid hard choices. It only delays them.” N. Gregory Mankiw, The New York Times , March 26, 2011. In the battle against the economic impact of COVID-19, governments around the world are pulling out all the stops. In advanced economies, leading central banks have pushed interest rates to zero or below. And, a recent IMF estimate puts the combination of discretionary spending and automatic fiscal stabilizers (in [...]

2020-05-29

• A Plucking Model of Business Cycles
  by Christian Zimmermann in NEP-DGE blog, 2020-05-29 21:02:28 UTC

  By Stéphane Dupraz, Emi Nakamura and Jón Steinsson http://d.repec.org/n?u=RePEc:bfr:banfra:748&r=dge In standard models, economic activity fluctuates symmetrically around a “natural rate” and stabilization policies can dampen these fluctuations but do not affect the average level of activity. An alternative view–labeled the “plucking model” by Milton Friedman–is that economic fluctuations are drops below the economy’s full potential ceiling. If this view is correct, stabilization policy, by dampening these fluctuations, can raise the average level of activity. We show that the dynamics of the [...]

• Covid-19: Does rich-country lockdown raise poor-country child mortality?
  by ReibReisen in ShiftingWealth, 2020-05-29 15:55:00 UTC

  Does the German "lockdown" [1] endanger millions of children around the world? Tübingen's Mayor Boris Palmer (Greens) had provoked at the end of April: "The shutdown, as we operate it, tries to prolong the lives of very old, seriously ill people in the rich countries and costs the lives of a much larger number of children in poor countries". Is this true? As lively as the general outrage about Palmer's thesis was, the connection "lockdown here, dead children there" prima facie cannot be dismissed. After all, Germany is an important part of the globalised economy, closely interwoven in world tr [...]

2020-05-27

• Can Pandemic-Induced Job Uncertainty Stimulate Automation?
  by Christian Zimmermann in NEP-DGE blog, 2020-05-27 19:07:41 UTC

  By Sylvain Leduc and Zheng Liu http://d.repec.org/n?u=RePEc:fip:fedfwp:87950&r=dge The COVID-19 pandemic has raised concerns about the future of work. The pandemic may become recurrent, necessitating repeated adoptions of social distancing measures (voluntary or mandatory), creating substantial uncertainty about worker productivity. But robots are not susceptible to the virus. Thus, pandemic-induced job uncertainty may boost the incentive for automation. However, elevated uncertainty also reduces aggregate demand and reduces the value of new investment in automation. We assess the importance o [...]

• Poor and black ‘invisible cyclists’ need to be part of post-pandemic transport planning too
  by ? in DJG Blogger, 2020-05-27 17:52:52 UTC

  A cyclist uses New York's bike-share program. Noam Galai/Getty Images As states and workplaces prepare to open up after the lockdown, many people are looking for alternatives to public transit to get to work. The National Association of City Trans [...]

2020-05-26

• The Price is Not Right: Measuring Inflation in a Pandemic
  by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets, 2020-05-26 11:06:49 UTC

  [W]hen you can measure what you are speaking about, and express it in numbers, you know something about it; but when you cannot measure it … your knowledge is of a meager and unsatisfactory kind.” Lord Kelvin, Popular Lectures , Vol. I, p. 73. Are prices really plummeting? If you watch the official government gauge of prices in the economy, you would think so. Between March and April, the Consumer Price Index (CPI) dropped by 0.8 percent―that’s a decline of 9.1 percent at an annual rate! Even if we exclude food and energy, prices still fell at half that rate. And, both price measures already h [...]

2020-05-25

• Se restano a corto di liquidità le imprese produttive
  by Tortuga in La Voce, 2020-05-25 10:59:46 UTC

  Nell’emergenza sanitaria ed economica è certamente utile prendere provvedimenti che garantiscano liquidità alle imprese, per permettere loro di sopravvivere. Ma bisogna occuparsi anche del “dopo crisi”, per evitare effetti negativi sulla produttività. La liquidità in tempi d’emergenza Per frenare l’espandersi della pandemia di Covid-19, il governo ha preso misure sempre più stringenti, fino ad arrivare, a inizio marzo, alla chiusura di tutte le attività produttive non strategiche. Un provvedimento necessario, il cui impatto economico è stato messo in conto. E infatti già si manifesta un primo [...]

2020-05-24

• Yoo-Mi Chin and Scott Cunningham (PubEc, 2019). “Revisiting the effect of warrantless domestic violence arrest laws on intimate partner homicides.”
  by ireadeconpapers in I Read Econ Papers, 2020-05-24 22:28:37 UTC

  I haven’t posted in a while, mainly because I started work last week and was working on a few other side projects prior to that and things have just been a little hectic. Today, I post about Chin and Cunningham’s (2019) work on the effect of domestic violence arrest legislation (whether arrest is discretionary, preferred, or mandatory) on spousal homicides in five slides. The full paper may be found here . I’ll try to update more in the coming days! [...]

2020-05-23

• The Urban Economics of Big City Mayors
  by Matthew E. Kahn in Environmental and Urban Economics, 2020-05-23 17:57:00 UTC

  In early June 2020, Baltimore's Democratic Primary will take place and the winner will be highly likely to be elected mayor in November.� Here is a profile of the key candidates. � In this brief blog post, I want to sketch out a few thoughts about Mayors.� What do Mayors do?� They are the city's leader but are they like a CEO?� What powers do they really have? Perhaps surprisingly, urban economists have not written much about urban elections.� Joe and Fernando have done the be st work (see here).� � �I co-authored a 2017 paper t hat examined how urban leaders affects the cost of public transit [...]

• Austerity, power & BBC bias
  by chris in Stumbling and Mumbling, 2020-05-23 11:43:21 UTC

  George Osborne gave a revealing interview ( 1'52" in ) to Radio 4 yesterday - revealing, not untypically for the BBC, for what it did not say. Osborne said that sometime in the "next two or three years": Markets, and indeed the country, will look to governments to set out plans for how they are going to eventually bring balance back to the public finances. The first thing that was not said here - and certainly not by his fawning interviewer - is that the more educated parts of the country will be looking for no such thing. Intelligent economists (as well as me ) agree that fiscal austerity w [...]

2020-05-21

• Thesis Thursday: Martin Eden
  by Chris Sampson in The Academic Health Economists' Blog, 2020-05-21 06:00:06 UTC

  On the third Thursday of every month, we speak to a recent graduate about their thesis and their studies. This month’s guest is Dr Martin Eden who has a PhD from the University of Manchester . If you would like to suggest a candidate for an upcoming Thesis Thursday, get in touch. Title Evaluating the economic benefits of complex interventions: accounting for non-health effects Supervisors Katherine Payne , Graeme Black , Gavin Daker-White Repository link https://www.research.manchester.ac.uk/portal/en/theses/evaluating-the-economic-benefits-of-complex-interventions-accounting-for-nonhealth [...]

2020-05-20

• Emerging Markets’ Hidden Debt Risk
  by Mitali Das in Project Syndicate, 2020-05-20 15:17:47 UTC

  WASHINGTON, DC/LONDON – Stark warnings about the COVID-19 shock’s potentially devastating effects on emerging markets (EMs) have become ubiquitous. With the pandemic engulfing ever more countries, EMs face a mass exit by foreign investors seeking safe assets. As a result, capital outflows and currency depreciations have become unprecedentedly synchronized. A first round of policy interventions to blunt the pandemic’s financial and economic impact on EMs is already underway. But although these actions – mainly aimed at alleviating stress in foreign-exchange (FX) markets – are welcome, the ongoi [...]

2020-05-19

• Border Crossings: The Spread of COVID-19 across U.S. Counties
  by Jason Barr in Skynomics Blog, 2020-05-19 12:11:10 UTC

  Jason M. Barr and Troy Tassier       May 19, 2020 Pandemic 2020 The COVID-19 pandemic rages on with no end in sight. How long it will take to return to normal, at this point, is anybody’s guess. But since the Federal Government has ceded coordination on further mitigation efforts to individual states means there is going to be a hodgepodge of different policies . Each governor has been left to decide on a suite of strategies for its residents. Some states are on a path to almost full reopening, while others are taking a more cautious approach. This week, most states will loosen at least some r [...]

2020-05-18

• Chris Sampson’s journal round-up for 18th May 2020
  by Chris Sampson in The Academic Health Economists' Blog, 2020-05-18 11:00:07 UTC

  Every Monday our authors provide a round-up of some of the most recently published peer reviewed articles from the field. We don’t cover everything, or even what’s most important – just a few papers that have interested the author. Visit our Resources page for links to more journals or follow the HealthEconBot . If you’d like to write one of our weekly journal round-ups, get in touch . Socioeconomic factors and happiness: evidence from self-reported mental health data . Empirical Economics [ RePEc ] Published 7th March 2019 Empirical Economics is not a journal that I regularly visit, bu [...]

2020-05-17

• Euro Area in the Age of COVID-19
  by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets, 2020-05-17 11:53:03 UTC

  “The policy of European integration is a matter of war and peace in the 21st century.” Helmut Kohl, Speech at Catholic University , Leuven, February 2, 1996. "We can never forget what Jacques Delors said before the introduction of the euro. We need a political union; a currency union alone will not suffice. We have taken some steps forward, but we have not made sufficient progress. That is perfectly evident. This means that there needs to be more, rather than less, integration.”   German Chancellor Angela Merkel, Responding to questions in the Bundestag , May 13, 2020 (authors’ translation). T [...]

• Private Nursing Homes, Product Differentiation and Reducing COVID-19 Contagion Risk
  by Matthew E. Kahn in Environmental and Urban Economics, 2020-05-17 01:44:00 UTC

  At dinner tonight, my wife told me that between 1/3 to 1/2 of COVID-19 deaths have taken place at nursing homes. I asked her a Chicago Price Theory question.� I said; "If up to date COVID-19 Nursing home specific death rates are posted, won't private nursing homes devote more effort to reducing their death rate to better compete for customers?"� �The net effect of this competition among differentiated products will be lower COVID-19 contagion risk for the elderly who live in these homes.� �The children of the elderly have strong incentives to research the relative risk at these nursing homes a [...]

2020-05-14

• The Real Killer Is COVID-Lockdown-Driven Unemployment
  by Tyler Durden in Zero Hedge, 2020-05-14 17:45:00 UTC

  The Real Killer Is COVID-Lockdown-Driven Unemployment Tyler Durden Thu, 05/14/2020 - 13:45 Authored by Christopher Dembik, head of Macro Analysis at Saxo, Summary :    Today, the U.S. Federal Reserve will release a survey confirming the economy is doomed for a long and painful downturn. Chairman Powell said in a webinar at the Peterson Institute for International Economics yesterday that one of the main findings, which is similar to that of many other surveys, is that lower-income Americans have been the most affected by the consequences of the virus. According to Pow [...]

• 19 Tage lang 1. August
  by admin in BATZ.ch, 2020-05-14 13:00:27 UTC

  Yvan Lengwiler Dieser Blog ist auf https://unibaswwzfaculty.blog/ erschienen. Der Inhalt basiert auf einer ausführlicher dokumentierten Studie, welche hier verfügbar ist: https://ideas.repec.org/p/bsl/wpaper/2020-07.html Am 24. Februar 2020 wurde die erste Infektion mit SARS-CoV-2 in der Schweiz registriert. Am 5. März war das erste Opfer zu beklagen. Am 16. März verfügte der Bundesrat die Schliessung wesentlicher Teile der der Volkswirtschaft [1] . Solche annähernd kriegswirtschaftlichen Massnahmen können für die Wirtschaft nicht folgenlos bleiben. Bei der Gestaltung der Massnahmen stehen mit [...]

2020-05-12

• 42. Selected Data of Coronavirus in Spain, United States, Europe, America and other areas, year 2020: Statistics of Cases and Hospital beds
  by MCG Blogs de Economía in Euro-American Association: World Development, 2020-05-12 09:25:00 UTC

                    Map of Coronavirus. Source: RTVE  We have selected data from reliable sources, although in many cases the information is only provisional and expect to revise if there are statistical revisions in the next months. Revision from Maria-Carmen Guisan (University Professor of Econometrics and Honorary Professor at USC, Spain). We highlight the following questions. 1) Data from Our World In Data (OWID)  (Oxford, UK). That interesting Website includes data by day of cases, deaths and related variables. From this source we have calculated the percentage of Deaths on the number of Ca [...]

2020-05-11

• Qu’aurait fait Roosevelt face à la crise économique du Covid19 ?
  by nadine in Bloc-Notes Eco, 2020-05-11 16:57:57 UTC

  Publié le 12/05/2020 Par Jean Barthélemy et Vincent Bignon Roosevelt reste dans l’histoire comme ayant réussi à sortir les États-Unis de la Grande Dépression. Pour cela, il communique afin de répondre aux inquiétudes des américains et modifie la politique économique. Son but ? Briser le cercle vicieux dans lequel le pessimisme amplifie la récession. Ce billet tire les leçons de cette stratégie pour la crise actuelle, même si les crises sont différentes. billet_161_vf_1.pdf Franklin D. Roosevelt lors d’une « conversation au coin du feu » en 1934 Source : photographie de Harris & Ewing, Li [...]

• Dynamic Beveridge Curve Accounting
  by Christian Zimmermann in NEP-DGE blog, 2020-05-11 13:40:36 UTC

  By Hie Joo Ahn and Leland Crane http://d.repec.org/n?u=RePEc:fip:fedgfe:2020-27&r=dge We develop a dynamic decomposition of the empirical Beveridge curve, i.e., the level of vacancies conditional on unemployment. Using a standard model, we show that three factors can shift the Beveridge curve: reduced-form matching efficiency, changes in the job separation rate, and out-of-steady-state dynamics. We find that the shift in the Beveridge curve during and after the Great Recession was due to all three factors, and each factor taken separately had a large effect. Comparing the pre-2010 period to th [...]

• Chris Sampson’s journal round-up for 11th May 2020
  by Chris Sampson in The Academic Health Economists' Blog, 2020-05-11 11:00:06 UTC

  Every Monday our authors provide a round-up of some of the most recently published peer reviewed articles from the field. We don’t cover everything, or even what’s most important – just a few papers that have interested the author. Visit our Resources page for links to more journals or follow the HealthEconBot . If you’d like to write one of our weekly journal round-ups, get in touch . Economic theory and medical assistance in dying . Applied Health Economics and Health Policy [ PubMed ] [ RePEc ] Published 6th May 2020 The ethics, politics, and economics of medically assisted death is [...]

2020-05-10

• Helicopters to the Rescue?
  by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets, 2020-05-10 14:41:52 UTC

  “Helicopter Money Is Here!” Forbes , March 17, 2020. “Helicopter money: The time is now,” VoxEU.org , March 17, 2020.“ ” The Helicopters Are Coming ,” Project Syndicate , March 26, 2020. “We Need to Start Tossing Money Out of Helicopters” The Atlantic , March 31, 2020. “U.S. needs more ‘helicopter money’ to cushion coronavirus impact.”   CNBC , April 9, 2020. Is helicopter money here? Do we need it now? Is it coming? The short answer to these questions is that it is not here and we currently do not need it, but should the economic disaster brought on by COVID-19 continue for much longer, that [...]

2020-05-09

• The Wealth Effects of Bailouts: A Quantitative Assessment
  by Pirmin Fessler, Martin Schürz in INET Blog, 2020-05-09 15:56:00 UTC

  A side effect of the 2008 financial crisis was that the average taxpayer had to dig deep into her and her children’s pockets to save many financial assets. Given the uneven concentration of financial assets, this rescue mission was in fact a bailout of the rich. At the time, advocates argued that these side effects were warranted in the interest of the common good, for the sake of stabilizing and ensuring the future income of everybody in society. Ultimately, though, private wealth was saved for the benefit of its owners. As the markets recovered in the fo [...]

2020-05-07

• Marina Agranov, Jacob Goeree, Julian Romero, and Leaat Yariv (JEEA, 2018). What makes voters turn out: The effects of polls and beliefs.
  by ireadeconpapers in I Read Econ Papers, 2020-05-07 21:08:53 UTC

  In this post, I summarize the experimental design and main findings of a very cool paper on voter behavior in five slides. The paper can be found here . [...]

2020-05-06

• Dollar invoicing, global value chains, and the business cycle dynamics of international trade
  by Christian Zimmermann in NEP-DGE blog, 2020-05-06 15:16:11 UTC

  By David Cook and Nikhil Patel http://d.repec.org/n?u=RePEc:bis:biswps:860&r=dge Recent literature has highlighted that international trade is mostly priced in a few key vehicle currencies, and is increasingly dominated by intermediate goods and global value chains (GVCs). Taking these features into account, this paper reexamines the business cycle dynamics of international trade and its relationship with monetary policy and exchange rates. Using a three country dynamic stochastic general equilibrium (DSGE) framework, it finds key differences between the response of final goods and GVC trade [...]

• Technocrats & class
  by ? in Stumbling and Mumbling, 2020-05-06 13:07:59 UTC

  Are centrists even more utopian than socialists? I’m prompted to ask by a passage at the end of Anne Case and Angus Deaton’sDeaths of Despair. They write:We believe that capitalism is an immensely powerful force for progress and for good, but it needs to s [...]

2020-05-04

• Chris Sampson’s journal round-up for 4th May 2020
  by Chris Sampson in The Academic Health Economists' Blog, 2020-05-04 11:00:06 UTC

  Every Monday our authors provide a round-up of some of the most recently published peer reviewed articles from the field. We don’t cover everything, or even what’s most important – just a few papers that have interested the author. Visit our Resources page for links to more journals or follow the HealthEconBot . If you’d like to write one of our weekly journal round-ups, get in touch . Learnings for health economics from the early stages of the COVID-19 pandemic . PharmacoEconomics – Open [ PubMed ] [ RePEc ] Published 10th April 2020 I’ve included several editorials and brief commentar [...]

2020-05-03

• Central Bank to the World: Supplying Dollars in the COVID Crisis
  by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets, 2020-05-03 17:16:37 UTC

  “ While the world economy is being reordered, the U.S. dollar remains as important as when Bretton Woods collapsed.” Mark Carney, former Bank of England Governor, Jackson Hole speech , August 23, 2019. In his comments at Jackson Hole last year, then-Bank of England Governor Mark Carney highlighted the continuing dominance of the U.S. dollar: it accounts for one-half of global trade invoicing; two thirds of emerging market external debt, official foreign exchange reserves, and global securities issuance; and nearly 90 percent of (one leg of) foreign exchange transactions. It also is the basis f [...]

2020-05-01

• Melissa Dell and Benjamin Olken (REStud, 2020). The development effects of the extractive colonial economy: The Dutch Cultivation System in Java.
  by ireadeconpapers in I Read Econ Papers, 2020-05-01 13:13:01 UTC

  I didn’t want to leave this space untouched for too long, so I thought I would squeeze in a quick post before my last final of this semester (and my undergraduate candidature!) in NUS. Source I summarize a paper by Melissa Dell, 2020 JBC medal winner , in this post. Since this is a summary, I do not cover everything in the paper, and do not describe the robustness checks performed. If you are curious about the details, the paper can be found here . Research Question Acemoglu and Robinson’s (2012) Why Nations Fail (a debater starter pack book) drew vivid contrasts between diff [...]

2020-04-30

• COVID-19 and Higher Education: some of the effects on students and institutions and how to alleviate them
  by LSE BPP in British Politics and Policy at LSE, 2020-04-30 09:00:43 UTC

  Monica Langella discusses some potential negative effects of the pandemic on higher education, particularly those pertaining to online assessment, university offers, and labour market outcomes. She offers evidence-based suggestions for how these impacts may be mitigated. After some initial uncertainty , higher education institutions in the UK switched to online teaching in March, not without some debate accompanying the decision. Even if technology enables distance learning in a relatively smooth way, the fact that by the end of March most universities decided to close at least part of their c [...]

2020-04-27

• Ewan Gray’s journal round-up for 27th April 2020
  by Ewan Gray in The Academic Health Economists' Blog, 2020-04-27 11:00:00 UTC

  Every Monday our authors provide a round-up of some of the most recently published peer reviewed articles from the field. We don’t cover everything, or even what’s most important – just a few papers that have interested the author. Visit our Resources page for links to more journals or follow the HealthEconBot . If you’d like to write one of our weekly journal round-ups, get in touch . The journal Health Economics has recently launched a special online-only issue , which brings together previously published studies related to pandemics. Current events are sure to have sparked new interest [...]

• Health versus Wealth: On the Distributional Effects of Controlling a Pandemic
  by Christian Zimmermann in NEP-DGE blog, 2020-04-27 04:06:14 UTC

  By Andrew Glover, Jonathan Heathcote, Dirk Krueger and Jos�-V�ctor R�os-Rull http://d.repec.org/n?u=RePEc:pen:papers:20-014&r=dge To slow the spread of COVID-19, many countries are shutting down non-essential sectors of the economy. Older individuals have the most to gain from slowing virus diffusion. Younger workers in sectors that are shuttered have the most to lose. In this paper, we build a model in which economic activity and disease progression are jointly determined. Individuals differ by age (young and retired), by sector (basic and luxury), and by health status. Disease transmission [...]

2020-04-26

• Economics after COVID-19
  by Francesc Trillas in Real Progress, 2020-04-26 20:25:00 UTC

  During and after the last global financial crisis, there was a lot of soul searching among economists, and although the reaction was slow and far from universal, some fruits have emerged from that. A higher concern for inequality, a turn to more empirical methods (facilitated by technology), new pedagogical projects such as CORE , and more dialogue with other disciplines. I do not remember well what happened in the early days of the crisis in 2008, but now perhaps because there is even a more intense use of social networks (because of technology supply but also because of technology demand in [...]

• Inflation is not (and should not be) a key worry today
  by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets, 2020-04-26 15:54:37 UTC

  “ We believe the Federal Reserve's large-scale asset purchase plan (so-called "quantitative easing") should be reconsidered and discontinued. […] The planned asset purchases risk currency debasement and inflation, and we do not think they will achieve the Fed's objective of promoting employment. ” Letter from a group of 24 economists to Fed Chair Ben Bernanke, November 15, 2010. A very simple version of 1960s monetarism has two elements. First, controlling money growth is necessary and sufficient to control inflation. Second, leaving aside a financial crisis, the monetary base―the sum of curre [...]

2020-04-24

• Impact Investment’s Pandemic Challenge
  by Tolullah Oni in Project Syndicate, 2020-04-24 15:27:05 UTC

  CAMBRIDGE – The COVID-19 pandemic will have dangerous, far-reaching implications long into the future, especially if it derails recent improvements in many countries’ historically weak health systems. To avoid that outcome, we urgently need to move beyond merely “protecting the needy” in times of crisis. Episodic donations are not enough. Now is the time to start removing the structural and systemic barriers that have long stood in the way of sustained improvements in global health. Following global emergencies, the international community tends to revert to “business as usual,” rather than pr [...]

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