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Brad DeLong's Grasping Reality 2020-03-27 15:58:53

Summary:
Claudia Sahm, Joel Slemrod, and Matthew Shapiro have the baton on the effects of direct payments to people in cushioning the fall in aggregate demand during a recession. There are good reasons to fear that this supply shock induced recession will be different. But at the moment it is the best we got: Claudia Sahm: 'Research on payments to people in recessions... https://twitter.com/Claudia_Sahm/status/1243504127407243266 here are our past papers (with Joel Slemrod [and Matthew Shapiro]): 2008 payments: http://www-personal.umich.edu/~shapiro/papers/w15421.pdf. 2008 payments vs 2009-10 Making Work Pay tax credits: http://www-personal.umich.edu/~shapiro/papers/aejep2012.pdf. 2011-12 payroll tax cut: http://www-personal.umich.edu/~shapiro/papers/PayrollTaxes_SSS.pdf...

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Claudia Sahm, Joel Slemrod, and Matthew Shapiro have the baton on the effects of direct payments to people in cushioning the fall in aggregate demand during a recession. There are good reasons to fear that this supply shock induced recession will be different. But at the moment it is the best we got: Claudia Sahm: 'Research on payments to people in recessions... https://twitter.com/Claudia_Sahm/status/1243504127407243266 here are our past papers (with Joel Slemrod [and Matthew Shapiro]): 2008 payments: http://www-personal.umich.edu/~shapiro/papers/w15421.pdf. 2008 payments vs 2009-10 Making Work Pay tax credits: http://www-personal.umich.edu/~shapiro/papers/aejep2012.pdf. 2011-12 payroll tax cut: http://www-personal.umich.edu/~shapiro/papers/PayrollTaxes_SSS.pdf...

Bradford DeLong
J. Bradford DeLong is Professor of Economics at the University of California at Berkeley and a research associate at the National Bureau of Economic Research. He was Deputy Assistant US Treasury Secretary during the Clinton Administration, where he was heavily involved in budget and trade negotiations. His role in designing the bailout of Mexico during the 1994 peso crisis placed him at the forefront of Latin America’s transformation into a region of open economies, and cemented his stature as a leading voice in economic-policy debates.

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