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October 23, 2023
Spatial Spillovers and the Effects of Fiscal Stimulus: Evidence from Pandemic-Era Federal Aid for State and Local Governments
Abstract We analyse whether US federal aid to state and local governments impacted economic activity through either direct or cross-state spillover effects during the COVID-19 pandemic. Deploying an instrumental-variables framework rooted in the funding advantage of states that are over-represented in Congress, we find that federal assistance had significantly less impact on state and local…
July 16, 2023
When Office Perks Become Perils
If you want to understand the downside of seeing your work as a “calling,” just look at zookeepers. In his book, The Good Enough Job, Simone Stolzoff writes: “It’s a job where the money is short and the hours are long. The majority of zookeepers have college degrees but the annual salary is less than $40,000…
February 8, 2023
Where the Tech Layoffs Are Hitting Hardest
Companies are cutting programmers, human resources, and DEI staffers. The hiring burst of 517,000 new jobs in January ran contrary to the conventional economic wisdom, namely that the Federal Reserve’s war on inflation is slowing interest-rate sensitive sectors like finance and technology and presaging a broader slowdown. Tech and finance did, indeed, show some losses—just not enough to…