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COVID-19 has made inflation a global problem
COVID-19 has made inflation a global problem
In case you haven’t heard … prices? They’re higher these days. That’s not terribly surprising, given the global supply chain debacle, but it turns out a once-in-a-lifetime pandemic has an impact, too. Dozens of countries have experienced inflation since the onset of the pandemic, and the United States has one highest rates. Today, we look at how the U.S. approach to addressing inflation differs from other countries around the globe. We’ll also take a trip to a warehouse to see its role in the global supply chain, hear how the Great Resignation isn’t necessarily benefitting everyone and celebrate jobless claims that haven’t been this low since the Beatles were together.
COVID-19 has made inflation a global problem
The Inflation Red Herring by Joseph E. Stiglitz - Project Syndicate
The Inflation Red Herring by Joseph E. Stiglitz - Project Syndicate
Far from signaling the return of significant inflation, temporary price increases are exactly what one would expect in a recovery following an economic shutdown. Whether those peddling inflation fears are pursuing their own agenda or simply jumping the gun, they should not be heeded.
The Inflation Red Herring by Joseph E. Stiglitz - Project Syndicate
Personal Income and Outlays, April 2021 | U.S. Bureau of Economic Analysis (BEA)
Personal Income and Outlays, April 2021 | U.S. Bureau of Economic Analysis (BEA)
Personal income decreased $3.21 trillion (13.1 percent) in April according to estimates released today by the Bureau of Economic Analysis (tables 3 and 5). Disposable personal income (DPI) decreased $3.22 trillion (14.6 percent) and personal consumption expenditures (PCE) increased $80.3 billion (0.5 percent).
Personal Income and Outlays, April 2021 | U.S. Bureau of Economic Analysis (BEA)
Gross Domestic Product, 1st Quarter 2021 (Second Estimate); Corporate Profits, 1st Quarter 2021 (Preliminary Estimate) | U.S. Bureau of Economic Analysis (BEA)
Gross Domestic Product, 1st Quarter 2021 (Second Estimate); Corporate Profits, 1st Quarter 2021 (Preliminary Estimate) | U.S. Bureau of Economic Analysis (BEA)
Real gross domestic product (GDP) increased at an annual rate of 6.4 percent in the first quarter of 2021 (table 1), according to the "second" estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2020, real GDP increased 4.3 percent.
Gross Domestic Product, 1st Quarter 2021 (Second Estimate); Corporate Profits, 1st Quarter 2021 (Preliminary Estimate) | U.S. Bureau of Economic Analysis (BEA)
U.S. durable goods orders drop 1.3% in April
U.S. durable goods orders drop 1.3% in April
WASHINGTON (AP) — U.S. orders for big-ticket manufactured goods dropped unexpectedly in April for the first time in 11 months as a shortage of computer chips disrupted auto production. The Commerce Department reported Thursday that orders for factory goods meant to last at least three years fell 1.3% in April after rising 1.3% in March.
U.S. durable goods orders drop 1.3% in April
Job Search, Job Posting and Unemployment Insurance During the COVID-19 Crisis by Ioana Elena Marinescu, Daphné Skandalis, Daniel Zhao :: SSRN
Job Search, Job Posting and Unemployment Insurance During the COVID-19 Crisis by Ioana Elena Marinescu, Daphné Skandalis, Daniel Zhao :: SSRN
During the COVID-19 pandemic, many businesses had to close and unemployment skyrocketed. To help the unemployed, the CARES Act increased US unemployment benefit
Job Search, Job Posting and Unemployment Insurance During the COVID-19 Crisis by Ioana Elena Marinescu, Daphné Skandalis, Daniel Zhao :: SSRN
Aggregate Employment Effects of Unemployment Benefits During Deep Downturns: Evidence from the Expiration of the Federal Pandemic Unemployment Compensation | NBER
Aggregate Employment Effects of Unemployment Benefits During Deep Downturns: Evidence from the Expiration of the Federal Pandemic Unemployment Compensation | NBER
Founded in 1920, the NBER is a private, non-profit, non-partisan organization dedicated to conducting economic research and to disseminating research findings among academics, public policy makers, and business professionals.
Aggregate Employment Effects of Unemployment Benefits During Deep Downturns: Evidence from the Expiration of the Federal Pandemic Unemployment Compensation | NBER