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on Demographic Economics |
| By: | Eichenbaum, Martin; Rebelo, Sérgio; Trabandt, Mathias |
| Abstract: | We analyse the effects of an epidemic in three standard macroeconomic models. We Ã?nd that the neoclassical model does not rationalize the positive comovement of consumption and investment observed in recessions associated with an epidemic. Intro- ducing monopolistic competition into the neoclassical model remedies this shortcoming even when prices are completely áexible. Finally, sticky prices lead to a larger recession but do not fundamentally alter the predictions of the monopolistic competition model. |
| Keywords: | comovement; Epidemic; investment; Recession |
| JEL: | E1 H0 I1 |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:14903&r= |
| By: | Carolina Arteaga Cabrales; Victoria Barone |
| Abstract: | This paper studies the origins and consequences of the opioid epidemic. Drawing on recently unsealed documents from state litigation against Purdue Pharma, we instrument for the supply of prescription opioids by exploiting features of the initial marketing of OxyContin. We find that moving from the 25th-to-the-75th percentile in the distribution of prescription opioid supply increases deaths from prescription opioids by 89% and deaths from all opioids by 39%. This corresponds to over 200,000 deaths. We estimate that the opioid crisis did not have an effect on labor market outcomes, such as labor force participation or employment rates, but it had adverse effects on socioeconomic conditions, as indicated by increased claims from SNAP and disability and increased crime. We estimate decreases in pregnancy duration, birth weight and health at birth but no effect on infant mortality and we estimate an increase in fertility rates. |
| Keywords: | Opioids, Mortality, Health |
| JEL: | I18 I30 J13 |
| Date: | 2021–06–08 |
| URL: | http://d.repec.org/n?u=RePEc:tor:tecipa:tecipa-698&r= |
| By: | Jane Humphries; Benjamin Schneider |
| Abstract: | Development economists have long studied the relationship between gender equality and economic growth. More recently economic historians have taken an overdue interest. We sketch the pathways within the development literature that have been hypothesised as linking equality for women to rising incomes and the reverse channels, from higher incomes to equality. We describe how the European Marriage Pattern literature applies these mechanisms, and we highlight problems with the claimed link between equality and growth. We then explain how a crucial example of technological unemployment for women—the destruction of hand spinning during the British Industrial Revolution—contributed to the emergence of the male breadwinner family. We show how this family structure created household relationships that play into the development pathways, and outline its persistent effects into the 21st century. |
| Keywords: | development economics, gender equality, technological unemployment, family structure |
| JEL: | J12 J63 N33 O14 O33 |
| Date: | 2021–05–01 |
| URL: | http://d.repec.org/n?u=RePEc:oxf:esohwp:_191&r= |
| By: | Borgschulte, Mark; Guenzel, Marius; Liu, Canyao; Malmendier, Ulrike M. |
| Abstract: | We show that increased job demands due to takeover threats and industry crises have significant adverse consequences for managers' long-term health. Using hand-collected data on the dates of birth and death for more than 1,600 CEOs of large, publicly listed U.S. firms, we estimate that CEOs' lifespan increases by around two years when insulated from market discipline via anti-takeover laws. CEOs also stay on the job longer, with no evidence of a compensating differential in the form of lower pay. In a second analysis, we find diminished longevity arising from increases in job demands caused by industry-wide downturns during a CEO's tenure. Finally, we utilize machine-learning age-estimation methods to detect visible signs of aging in pictures of CEOs. We estimate that exposure to a distress shock during the Great Recession increases CEOs' apparent age by roughly one year over the next decade. |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:14933&r= |
| By: | Anand, Paul; Chiappero-Martinetti, Enrica; Corneo, Giacomo; Mcknight, Abigail; Moro, Esteban; O'Brien, Dave; Peragine, Vito; Stuhler, Jan |
| Abstract: | This report summarises some of the most relevant theoretical and empirical challenges associated with the measurement and analysis of multidimensional inequalities. Each section delves into a specific topic, presents a state-of-the-art review of the key findings in that particular area, and proposes a number of policy recommendations and avenues for further research. The themes covered in this report range from the multidimensional nature of human wellbeing and quality of life, the multiplicity of life domains in which substantial inequalities can be found, the dynamic nature of those inequalities, the transmission of advantages and disadvantages over time, the availability of new data sources for fine-grained data collection and higher spatial resolution policy-making, the interplay of individual effort and external circumstances when it comes to identifying a just distribution of opportunities in society, as well as the relevance of lifetime approaches for the study of economic inequalities within countries. The content of this work will provide help and guidance to policy-makers willing to understand and tackle inequalities from a broader multidimensional perspective, beyond the narrow limits of economic indicators alone. |
| JEL: | N0 J1 |
| Date: | 2020–07–14 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:110745&r= |