Economic Policy Commons^™

Covid-19: Economic Recovery, Twitter, And Public Perception Of Las Vegas, Mary Blankenship, Caitlin Saladino, William E. Brown Jr.

Economic Development & Workforce

This Fact Sheet analyzes responses posted on Twitter following an interview conducted by CNN reporter Anderson Cooper, who interviewed Carolyn Goodman, Mayor of the City of Las Vegas, concerning the re-opening of the Las Vegas economy during the COVID-19 pandemic.

Covid-19: Projected Job Loss In Mountain West States, Marie A. Falcone, Caitlin Saladino, William E. Brown

Economic Development & Workforce

This Fact Sheet highlights Mountain West data from the Economic Policy Institute (EPI) report titled, “States are projected to lose more jobs due to the coronavirus: 14 million jobs could be lost by summer.” The original data source provides figures on the estimated job loss from private sector employment in retail, leisure, and hospitality. This Fact Sheet examines the data for large metropolitan Mountain West states (including Arizona, Colorado, Nevada, New Mexico, and Utah) with projected job loss in the coming months due to the coronavirus.

Lessons Learned: Tony Fratto, Mercedes Cardona, Rosalind Z. Wiggins

Journal of Financial Crises

Fratto, who was Deputy Assistant and Deputy Press Secretary to the President during the financial crisis of 2007-2009, gives us his take on the government’s communications efforts and how best to prepare for future crises

Lessons Learned: Jack Gutt, Mercedes Cardona

Journal of Financial Crises

Gutt, who joined the Federal Reserve Bank of New York in 2009 as Vice President, Head of Media Relations and Public Affairs, shares with us his reflections on that period.

Lessons Learned: David Wessel, Ben Henken, Rosalind Z. Wiggins

Journal of Financial Crises

Wessel, an award-winning journalist for The Wall Street Journal, talks about some of the issues faced by the media in covering the crisis, discusses the many challenges policymakers faced when trying to communicate the government’s crisis-fighting strategy, and shares suggestions for improvement.

Lessons Learned: James (Jim) Millstein, Alec Buchholtz, Rosalind Z. Wiggins

Journal of Financial Crises

Millstein, who was the Chief Restructuring Officer, U.S. Department of the Treasury, during the Global Financial Crisis and instrumental in the rescue of American International Group, gives us his take on how best to prepare for future crises

Restructuring And Forgiveness In Financial Crises D: The Japanese Financial Crisis Of The 1990s, Christian M. Mcnamara, Andrew Metrick

Journal of Financial Crises

In November 1997 the Japanese government confronted a problem of enormous proportions when the turmoil that had been roiling the financial markets since the collapse of a real estate and stock market asset bubble in 1990 reached a crescendo with the failure of four major financial institutions in quick succession in the space of a month. Prior to these failures, the damage done by the collapsing bubble had seemed to be limited to certain segments of the financial landscape, and the government’s response consisted largely of targeted intervention when necessary for clearly insolvent financial institutions, with a more comprehensive approach …

Restructuring And Forgiveness In Financial Crises C: The Swedish Banking Crisis Of 1990-94, Christian M. Mcnamara, Dr. Lars Thunell, Andrew Metrick

Journal of Financial Crises

In the Spring of 1992, the Swedish government faced a dilemma. The country was in the midst of an economic downturn stemming from the collapse of asset prices (especially in real estate) that had spiked as a result of a credit boom that followed the deregulation of the Swedish banking system in the mid-1980s. Initially the impact of the downturn on the country’s banks had seemed to be limited to a small number of specific firms that the government moved to assist on an ad hoc basis in 1991. However, evidence was mounting that the banking crisis was reaching a …

Restructuring And Forgiveness In Financial Crises A: The Mexican Peso Crisis Of 1994-95, Christian M. Mcnamara, June Rhee, Andrew Metrick

Journal of Financial Crises

Following a year in which repeated political turmoil sapped investor confidence in Mexico, putting pressure on the peso and draining the country’s foreign exchange reserves, on December 22, 1994, the Mexican government sparked a financial crisis by unexpectedly abandoning its policy of anchoring the peso to the US dollar and instead allowing it to float freely. The resulting collapse of the peso left Mexico with $40 billion to $50 billion in external debt (much of it dollar-indexed) coming due in the near term and almost no foreign exchange reserves. Faced with the prospect that Mexico would either default on its …

Guarantees And Capital Infusions In Response To Financial Crises C: U.S. 2009 Stress Test, Chase P. Ross, June Rhee, Andrew Metrick

Journal of Financial Crises

When President Obama took office in 2009, the Treasury focused on restarting bank lending and repairing the ability of the banking system as a whole to perform the role of credit intermediation. In order to do so, the Treasury needed to raise public confidence that banks had sufficient buffers to withstand even a very adverse economic scenario, especially given heightened uncertainty surrounding the outlook of the U.S. economy and potential losses in the banking system. The Supervisory Capital Assessment Program (SCAP)—the so-called “stress tests”—sought to rigorously measure the resilience of the largest bank holding companies. Those found to have insufficient …

Guarantees And Capital Infusions In Response To Financial Crises B: U.S. Guarantees During The Global Financial Crisis, June Rhee, Andrew Metrick

Journal of Financial Crises

During 2008-09, the federal government extended multiple guarantee programs in an effort to restore the financial market and contain the panic and crisis in the market. For example, the Treasury provided a temporary guarantee program for the money market funds, the FDIC decided to stand behind certain debts and non-interest-bearing transaction accounts, and the Treasury, the FDIC, and the Federal Reserve agreed to share losses in certain assets belonging to Citigroup. This case reviews these guarantee programs implemented during the global financial crisis by the government and explores the different rationale that shaped certain design features of each program.

Guarantees And Capital Infusions In Response To Financial Crises A: Haircuts And Resolutions, June Rhee, Andrew Metrick

Journal of Financial Crises

After the mortgage market meltdown in mid-2007 and during the financial crisis in 2008, major financial institutions around the world were on the verge of collapsing one after another. Faced with these troubles, the government had to respond quickly to contain the crisis as efficiently as possible. It was, however, limited in resources, time, and experience. To make matters worse, the complexity and opaqueness of the financial market and these institutions greatly affected the government’s ability to design an efficient and consistent method to contain the crisis. Shortly after Lehman Brothers filed for bankruptcy on September 15, 2008, American International …

Editors’ Note: Fighting The Covid-19 Pandemic Financial Crisis, Andrew Metrick, Rosalind Z. Wiggins

Journal of Financial Crises

Policy makers need decision support as they consider their options. For the past six years the Yale Program on Financial Stability (YPFS), which also publishes the Journal of Financial Crises, has researched and created content about the numerous interventions governments deployed during the Global Financial Crisis (2007-09) and other crises. With the onset of the COVID-19 crisis, we considered how we could best deploy our past research and skills to assist the current crisis-fighting efforts. We decided that we could best contribute to the effort by staying true to our mission to create, disseminate, and preserve knowledge about financial crises …

Migration Of Millennials And Seniors In The Mountain West, Ashley Leclair, Mary Blankenship, Caitlin Saladino, William E. Brown

Demography

This Fact Sheet examines trends in intraregional migration of millennials and seniors since the Great Recession, with a focus on the Mountain West. The data presented were originally published in a report by the Brookings Institution, titled “How migration of millennials and seniors has shifted since the Great Recession.”

Understanding The Impact Of Psychological Empowerment, Workplace Motivation, And Social Capital On The Job Performance Of Farmers In Honduras: A Mixed Methods Study, Susan Lale Karimiha

LSU Doctoral Dissertations

A farmer’s job performance is critical to the production of raw materials such as food, fiber, and fuel and is therefore an important concern for individuals, businesses, and economies across the world. The literature on improving farmers’ job performance has focused more on introducing new technologies, and less on the psychosocial factors that improve job performance. The primary purpose of this study was to examine the impact of psychological empowerment, workplace motivation, and social capital on farmers’ job performance in Honduras.

A mixed methods approach was used to collect and analyze both quantitative and qualitative data. For quantitative data, a …

The Gig Is Up: Supporting Non-Standard Workers Now And After Coronavirus, Tyra Jean

Population Health Research Brief Series

This issue brief discusses the specific COVID-19 related challenges of three gig work populations: rideshare and delivery drivers; hair stylists, barbers, and aestheticians; and sex workers.

The Economic Impacts Of School Closure In Rural Maine, Heather Perry

Muskie School Dissertations

The purpose of this case study research was to examine the economic impact of school closures on three rural communities in Maine. I created a conceptual framework around six healthy community economic markers. Each of the six markers are studied in 2010 when schools were closed and then again in 2016. This data, in addition to perceptions data from stakeholders in each of the three communities was studied to determine if the closure of the school had any impact on these healthy economic markers. Findings suggest that there were no negative impact to the economic markers studied within the three …

Final Project Report, Nikhil Menon

CTEDD Final Project Reports - Archive

No abstract provided.

Room To Grow: A Comparative Analysis Of Cannabis Regulation Models In Europe, Amanda H. Cronin

Independent Study Project (ISP) Collection

Debilitated by years of economic instability, the Spanish economy has not fully rebounded to its once strong place in the European market. And now, in the aftermath of a devastating pandemic, the nation will be searching for new sources of wealth. The lucrative market potential of controlled cannabis in medicinal and recreational settings is an attractive industry gaining popularity across Europe. This paper explores the various policy models and legal systems in Portugal, Germany, and the Netherlands. Combining a variety of sources, I seek to ascertain the best plan for Spain. Ultimately, analysis shows that a multi-pronged approach is the …

Changing Water Resources’ Effect On Livelihoods And Socio-Ecological Relationships In Himalayan Communities Of Nepal, Luke Bazemore

Independent Study Project (ISP) Collection

The looming threat of climate change will lead to significant alterations in livelihoods and daily practices for individuals across the world. This paper seeks to identify the effects of climate change on hydrological regimes in Himalayan communities in Nepal with particular focus towards livelihood and socio-ecological transformations. Using the socio-ecological systems framework to analyze specific communities and their resource use, along with vulnerability and adaptative capacity analysis, this paper includes a meta-analysis of existing literature. Numerous findings indicated that rural, mountainous communities of Nepal face a variety of environmental impacts which may reduce viability of two significant modes of production: …