Economics Commons^™

How The Covid-19 Pandemic Is Challenging Consumption, Marine Cambefort

Markets, Globalization & Development Review

COVID-19 has led consumers to question their consumption patterns. Although some management research has already highlighted consumption trends resulting from the virus outbreak, very few studies explore how the current pandemic challenges consumption. Three trends are identified: the downsizing of consumption, emergence of anti-globalization sentiments, and negative consumer reactions to the misconduct of brands/companies. First, the lockdown was an opportunity for people to test a simpler lifestyle by reducing their level of consumption, having realized that over-consumption does not make them happy and questioned its negative impact on the environment. Second, the pandemic may reinforce anti-globalization ideas, leading consumers to …

Rethink Everything 1: Markets, Globalization, Development, Nikhilesh Dholakia, Deniz Atik

Markets, Globalization & Development Review

No abstract provided.

Fiscal Impacts: A Literature Review, Jim Robey, Kathleen Bolter

Reports

No abstract provided.

Covid-19: Working Parents And Child Care In The Mountain West, Olivia K. Cheche, Vanessa Booth, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

This fact sheet synthesizes data on child-care dependent parents in various Mountain West metropolitan statistical areas (MSAs). This synthesis is based on an original report by Brookings Research Analyst, Nicole Bateman, titled “Working parents are key to COVID-19 recovery.” Additionally, this fact sheet highlights other variables that include the race-ethnic breakdown, education attainment, and federal poverty breakdown for child-care dependent parents.

Prevalence And Socio-Demographic Predictors Of Food Insecurity In Australia During The Covid-19 Pandemic, Katherine Kent, Sandra Murray, Beth Penrose, Stuart Auckland, Denis Visentin, Stephanie Godrich, Elizabeth Lester

Research outputs 2014 to 2021

The COVID-19 pandemic has exacerbated economic vulnerabilities and disrupted the Australian food supply, with potential implications for food insecurity. This study aims to describe the prevalence and socio-demographic associations of food insecurity in Tasmania, Australia, during the COVID-19 pandemic. A cross-sectional survey (deployed late May to early June 2020) incorporated the U.S. Household Food Security Survey Module: Six-Item Short Form, and fifteen demographic and COVID-related income questions. Survey data (n = 1170) were analyzed using univariate and multivariate binary logistic regression. The prevalence of food insecurity was 26%. The adjusted odds of food insecurity were higher among respondents with a …

The Economic Impact Of Covid-19: Rebuilding The Las Vegas Economy, Jaewon Lim

Policy Briefs and Reports

This study analyzes the recent trends of monthly visitors to the Las Vegas-ParadiseHenderson, NV metropolitan statistical area (MSA) for the first five months of 2020. In addition, six scenarios for the seven-month period of June through December 2020 estimate the net loss of visitors to Southern Nevada and the impact for the state economy in terms of employment, income, the total value added (contribution to Gross State Product), output sales, and state and local tax revenues. The counter-factual scenario – projecting the regional economy if no COVID-19 outbreak occurred – serves as a baseline scenario that allows measurement of the …

Spending Impact Of Covid-19 Stimulus Payments: Evidence From Card Transaction Data In South Korea, Kim, Kanghyock Koh, Wonjun Lyou

Research Collection School Of Economics

Various countries have implemented transfer programs to individuals since the Covid-19 outbreaks. However, the extent to which such transfers alleviate economic recessions is unclear. This paper analyzes a South Korean program, which provided vouchers redeemable only at small local businesses. We find that, due to the program, over 30% of households across all income groups increased their food and overall household spending, but the usage restriction may have affected consumer choice, distorting business competition. While the employment and sales of small businesses improved, the program’s fiscal sustainability is in question because of the large tax exemption.

Covid-19, Lockdown, And The Dynamics Of Subjective Well-Being, Terence C. Cheng, Kim, Kanghyock Koh

Research Collection School Of Economics

We provide novel evidence on how the COVID-19 global health and economic crisis is affecting overall life satisfaction and domain-specific satisfaction using data from a monthly longitudinal survey of middle-aged and older Singaporeans. Using a difference-in-differences framework, we document large declines in overall life satisfaction and domain-specific satisfaction during the COVID-19 outbreak, except satisfaction with health. These declines coincide with the introduction of a nationwide lockdown, with life satisfaction remaining below its pre-pandemic levels even after the lockdown is lifted. We also find that individuals who report a drop in household income during the COVID-19 outbreak experience a decline in …

Covid-19: Nevada Counties With Low-Income Job Loss, Katie M. Gilbertson, Madison Frazee-Bench, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

The purpose of this fact sheet is to highlight low-income job loss due to COVID-19 in Nevada’s 17 counties. This fact sheet features data originally reported by the Urban Institute in the publication, “Where Low-Income Jobs are Being Lost to COVID-19,” which highlights data as of June 5, 2020.

Predictors Of Social Distancing And Mask-Wearing Behavior: Panel Survey In Seven U.S. States, Plamen Nikolov, Andreas Pape, Ozlem Tonguc, Charlotte Williams

Economics Faculty Scholarship

This paper presents preliminary summary results from a longitudinal study of participants in seven U.S. states during the COVID-19 pandemic. In addition to standard socio-economic characteristics, we collect data on various economic preference parameters: time, risk, and social preferences, and risk perception biases. We pay special attention to predictors that are both important drivers of social distancing and are potentially malleable and susceptible to policy levers. We note three important findings: (1) demographic characteristics exert the largest influence on social distancing measures and mask-wearing, (2) we show that individual risk perception and cognitive biases exert a critical role in influencing …

Covid-19: Payment Protection Program (Ppp) Loan Impact In The Mountain West, Eshaan Vakil, Elia Del Carmen Solano-Patricio, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

This fact sheet summarizes the impact of COVID-19 relief loans on small businesses in 5 Mountain West states: Arizona, Colorado, Nevada, New Mexico, and Utah. Using data reported by the Small Business Administration’s (SBA) Paycheck Protection Program (PPP), researchers at Brookings report, “across metro areas, COVID-19 relief loans are helping some places more than others.” This fact sheet explores the geographic distribution of PPP loans in 20 “very large,” “large,” “midsize,” and “small” metropolitan statistical areas (MSA) in the Mountain West.

Covid-19 And East Texas Employment: The Economic Recovery Begins - August 2020, Manuel Reyes-Loya

Hibbs Newsletter

Measures to slow the COVID-19 spread cost the United States 22 million jobs in March and April. However, more than 9 million of those jobs returned in May, June and July, marking the beginning of the economic recovery from the pandemic.

Information Frictions And Access To The Paycheck Protection Program, John Eric Humphries, Christopher Neilson, Gabriel Ulyssea

Cowles Foundation Discussion Papers

The Paycheck Protection Program (PPP) extended 669 billion dollars of forgivable loans in an unprecedented effort to support small businesses affected by the COVID-19 crisis. This paper provides evidence that information frictions and the “first-come, first-served” design of the PPP program skewed its resources towards larger firms and may have permanently reduced its effectiveness. Using new daily survey data on small businesses in the U.S., we show that the smallest businesses were less aware of the PPP and less likely to apply. If they did apply, the smallest businesses applied later, faced longer processing times, and were less likely to …

Covid-19: Metro Recovery Index In The Mountain West, Vanessa Booth, Katie M. Gilbertson, Elia Del Carmen Solano-Patricio, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

Amid the COVID-19 pandemic and the economic recession that is developing as a result, researchers at the Brookings Institution created the “Metro Recovery Index dashboard,” an interactive data set that tracks changes in labor, real estate, and other economic indicators for metropolitan areas throughout the U.S. Using data from January – June 2020, this Fact Sheets highlights the impact of the COVID-19 recession on 13 Metropolitan Statistical Areas (MSAs) in 5 Mountain West states: Arizona, Colorado, Nevada, New Mexico, and Utah.

Information Search And Financial Markets Under Covid-19, Behzod B. Ahundjanov, Sherzod Akhundjanov, Botir B. Okhunjanov

Applied Economics Faculty Publications

The discovery and sudden spread of the novel coronavirus (COVID-19) exposed individuals to a great uncertainty about the potential health and economic ramifications of the virus, which triggered a surge in demand for information about COVID-19. To understand financial market implications of individuals’ behavior upon such uncertainty, we explore the relationship between Google search queries related to COVID-19—information search that reflects one’s level of concern or risk perception—and the performance of major financial indices. The empirical analysis based on the Bayesian inference of a structural vector autoregressive model shows that one unit increase in the popularity of COVID-19-related global search …

Minority Owned Businesses In The Southwest Megapolitan Triangle, Yanneli Llamas, Madison Frazee-Bench, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

This fact sheet presents the potential impact of COVID-19 on minority owned businesses, using data originally published by Brookings researchers Sifan Liu and Joseph Parilla in “Businesses owned by women and minorities have grown. Will COVID-19 undo that?” As noted in the original report, the coronavirus pandemic will shock a variety of industries and communities, but minority-owned businesses are likely to be hardest hit.

Foundational Research And Nih Funding Enabling Emergency Use Authorization Of Remdesivir For Covid-19, Ekaterina Galkina Cleary, Matthew J. Jackson, Zoë Folchman-Wagner, Fred D. Ledley

Natural & Applied Sciences Faculty Publications

Emergency Use Authorization for remdesivir months after discovery of COVID-19 is unprecedented. Typically, decades of research and public-sector funding are required to establish the mature body of foundational research requisite for efficient, targeted drug discovery and development. This work quantifies the body of research related to remdesivir’s biological target, RNA-dependent RNA polymerase (RdRp), or parent chemical structure, nucleoside analogs (NcAn), through 2019, as well as NIH funding for this research 2000–2019. There were 6,567 RdRp-related publications in PubMed, including 1,263 with NIH support, and 11,073 NcAn-related publications, including 2,319 with NIH support. NIH support for RdRp research comprised 2,203 Project …

Attitudes, Behaviours, And The Well-Being Of Older Singaporeans In The Time Of Covid-19: Perspectives From The Singapore Life Panel, Paulin T. Straughan, William Tov, Seonghoon Kim, Terence Cheng, Stephen Hoskins, Micah Tan

ROSA Research Briefs

COVID-19 has affected all Singaporeans, regardless of age and socioeconomic status (SES). Many measures have been implemented by the government to control the spread of this disease, including restrictions on social gatherings, restrictions on overseas travel, and making it compulsory to wear a mask. Measures have also included a partial lockdown – known as the ‘circuit breaker’ – which began in April 2020. This forced Singaporeans to quickly adapt to a new normal with some doing better than others. This research brief provides an overview of how COVID-19 and its related measures have affected seniors in Singapore using data from …

Racial And Ethnic Disparities In Covid-19: Evidence From Six Large Cities, Joseph Benitez, Charles J. Courtemanche, Aaron Yelowitz

Institute for the Study of Free Enterprise Working Papers

As of June 2020, the coronavirus pandemic has led to more than 2.3 million confirmed infections and 121 thousand fatalities in the United States, with starkly different incidence by race and ethnicity. Our study examines racial and ethnic disparities in confirmed COVID-19 cases across six diverse cities – Atlanta, Baltimore, Chicago, New York City, San Diego, and St. Louis – at the ZIP code level (covering 436 “neighborhoods” with a population of 17.7 million). Our analysis links these outcomes to six separate data sources to control for demographics; housing; socioeconomic status; occupation; transportation modes; health care access; long-run opportunity, as …

Calculating Life And Death In A Time Of Covid, Larry Hirschhorn, Phd

School of Continuing and Professional Studies Coronavirus Papers

The current pandemic makes us feel helpless. We can respond to its predation pragmatically but its silent march through the population promotes dread. Our helplessness undermines our belief in our culture as the source of our self-esteem and felt significance. One response to our experience of helplessness is the omnipotent stance, the idea that we can master the virus, stop it in its tracks, command one another to comply with injunctions and wreak a path of destruction by devastating the economy. Omnipotence promotes magical thinking. In the service of defeating death, we ignore actual suffering; deaths of despair and deaths …

Impacts Of Covid-19 On Nepalese Economy, Satis Devkota

Economics & Management Publications

Even though Nepal reported the first confirmed case of COVID-19 in late January 2020, Nepal was one of the least affected countries in South Asia until the end of April 2020. Lockdown and social distancing were implemented from the very beginning and people also contributed voluntarily with certain exceptions to that government’s efforts. That has a positive effect on flattening the curves of COVID-19 affected people and the related death rates in Nepal. However, the macroeconomic consequences of the pandemic are pretty high for a remittance based small economy. This hardship is further escalated when the excessive inflow of the …

The International Spread Of Covid-19 Stock Market Collapses, Silvio Contessi, Pierangelo De Pace

Pomona Economics

We identify periods of mildly explosive dynamics and collapses in the stock markets of 18 major countries during the first wave of the COVID-19 pandemic of 2020. We find statistical evidence of instability transmission from the Chinese stock market to all other markets. The recovery is heterogeneous and generally non-explosive.

Rationing Social Contact During The Covid-19 Pandemic: Transmission Risk And Social Benefits Of Us Locations, Seth G. Benzell, Avinash Collis, Christos Nicolaides

Economics Faculty Articles and Research

To prevent the spread of coronavirus disease 2019 (COVID-19), some types of public spaces have been shut down while others remain open. These decisions constitute a judgment about the relative danger and benefits of those locations. Using mobility data from a large sample of smartphones, nationally representative consumer preference surveys, and economic statistics, we measure the relative transmission reduction benefit and social cost of closing 26 categories of US locations. Our categories include types of shops, entertainments, and service providers. We rank categories by their trade-off of social benefits and transmission risk via dominance across 13 dimensions of risk and …

Covid-19: The Impact On Young, Low-Wage Workers Without College Degrees, Marie A. Falcone, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

This Fact Sheet highlights select data from the Brookings Institution report “We can’t recover from coronavirus recession without helping young workers” released May 7, 2020 by Martha Ross and Nicole Bateman. In the context of the 2020 COVID-19 pandemic, the report includes data on the long-term, near-term, and immediate-term risk for occupations held by young workers without college credentials. This Fact Sheet focuses on data pertaining to the employment demography of young workers without a college degree in Mountain West states (Arizona, Colorado, Nevada, New Mexico, and Utah).

Coronavirus Food Assistance Program For Livestock Producers, Bradley Lubben

Extension Farm and Ranch Management News

United States Congress and the President have approved multiple phases of COVID-19 assistance to date including the $2.3 trillion CARES (Coronavirus Aid, Relief, and Economic Security) Act passed in March that provides financial support for agricultural producers as a small part of the overall relief.

While agricultural producers and agribusinesses are eligible for two programs administered through the Small Business Administration, including the Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDLs), the primary support for agriculture is coming from USDA through the Coronavirus Food Assistance Program (CFAP). The CARES Act provided $9.5 billion directly to the Secretary of …

Coronavirus Food Assistance Program For Crops Producers, Bradley Lubben

Extension Farm and Ranch Management News

The United States Congress and the President have approved multiple phases of COVID-19 assistance to date including the $2.3 trillion CARES (Coronavirus Aid, Relief, and Economic Security) Act passed in March that provides financial support for agricultural producers as a small part of the overall relief.

While agricultural producers and agribusinesses are eligible for two programs administered through the Small Business Administration, including the Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDLs), the primary support for agriculture is coming from USDA through the Coronavirus Food Assistance Program (CFAP). The CARES Act provided $9.5 billion directly to the Secretary …

Advanced Health Care Directives In Nebraska: Health Care Power Of Attorney And Living Wills, J. David Aiken

Extension Farm and Ranch Management News

First paragraph:

During this period of coronavirus pandemic, some Nebraskans may be concerned about how medical decisions will be made for them if they are unable to communicate their wishes to their health care providers themselves. In these circumstances, health care providers will normally consult with the patient’s family members who may be available (spouse, then adult children–consensus, then parents, etc.) If no family members are present, the health care providers will use their best medical judgment in making health care decisions for the patient.

Disclaimer

This information is intended for educational purposes only; it must not be taken as …

Covid-19 Crisis, Impacts On Catholic Schools, And Potential Responses | Part 1: Developed Countries With Focus On The United States, Quentin Wodon

COVID-19 and Catholic Schools

The COVID-19 crisis has led to widespread temporary school closures and a deep economic recession. School closures have threatened children’s ability to learn and later return to school well prepared. The impact of the economic recession is going to be even more devastating: first for students, but also for the ability of some Catholic schools to maintain their enrollment and remain sustainable financially in countries where they do not benefit from government support. This paper, the first in a set of two, looks at some of the likely impacts of the COVID-19 crisis on Catholic Schools in developed countries with …

Covid-19 Crisis, Impacts On Catholic Schools, And Potential Responses: Introduction, Quentin Wodon

COVID-19 and Catholic Schools

The COVID-19 crisis has generated unprecedented challenges for Catholic schools and their students, as is the case for other school networks. First, school closures have affected 9 in 10 school-aged children globally, with risks for the children’s ability to learn when the schools are closed, and later return to school when the crisis subsides. Second, the economic recession generated by the crisis will not only affect children, but also in some cases the ability of Catholic and other private schools to maintain their enrollment, and thereby their financial sustainability, at least in countries where the schools do not benefit from …

Covid-19 Crisis, Impacts On Catholic Schools, And Potential Responses: Introduction, Quentin Wodon

Journal of Catholic Education

The COVID-19 crisis has generated unprecedented challenges for Catholic schools and their students, as is the case for other school networks. First, school closures have affected 9 in 10 school-aged children globally, with risks for the children’s ability to learn when the schools are closed, and later return to school when the crisis subsides. Second, the economic recession generated by the crisis will not only affect children, but also in some cases the ability of Catholic and other private schools to maintain their enrollment, and thereby their financial sustainability, at least in countries where the schools do not benefit from …