From great depression to great recession

Evidence from the Great Recession

Employment Hysteresis from the Great Recession

This paper uses U.S. local areas as a laboratory to test whether the Great Recession depressed 2015 employment. In full-population longitudinal data, I find that exposure to a 1-percentage-point-larger 2007-2009 local unemployment shock caused working-age individuals to be 0.4 percentage points less likely to be employed at all in 2015, evidently via labor force exit. These shocks also increase...

Nber Working Paper Series Winning the War: Poverty from the Great Society to the Great Recession

This paper considers the long-run patterns of poverty in the United States from the early 1960s to 2010. Our results contradict previous studies that have argued that poverty has shown little improvement over time or that anti-poverty efforts have been ineffective. We find that moving from traditional income-based measures of poverty to a consumption-based measure (which we argue is superior on...

Winning the War: Poverty from the Great Society to the Great Recession*

Few measures of U.S. economic performance receive greater attention and scrutiny than the poverty rate. The official poverty rate in 2010 was more than 2 percentage points higher than the rate in 1970 despite a doubling of real GDP per capita and trillions of dollars spent on antipoverty programs. This paper considers the long run patterns of improved measures of poverty, examining the extent o...

The Great Recession and Entrepreneurship

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