Search Results
How Spread Out Is the U.S. Population?
Half the nation’s population lives in less than 5% of its counties.
Working Paper
Consumption in the Great Recession: The Financial Distress Channel
During the Great Recession, the collapse of consumption across the US varied greatly but systematically with house-price declines. Our message is that household financial health matters for understanding this relationship. Two facts are essential for our finding: (1) the decline in house prices led to an increase in household financial distress (FD) prior to the decline in income during the recession, and (2) at the zip-code level, the prevalence of FD prior to the recession was positively correlated with house-price declines at the onset of the recession. We measure the power of the ...
Journal Article
Measuring Levels of Debt in the Eighth District’s Key Metro Areas
Debt growth and delinquency rate data do not seem to indicate that a severe debt problem may be brewing in these cities.
How Will COVID-19 Affect the Spending of Financially Distressed Households?
Consumer spending will drop substantially due to COVID-19, and the declines will hit hardest in households already in financial distress.
COVID-19 and Financial Distress: Employment Vulnerability
The burden of COVID-19 will likely be borne unevenly, with the largest financial burdens potentially hitting populations already vulnerable to economic shocks.
Working Paper
Consumption in the Great Recession: The Financial Distress Channel
During the Great Recession, the collapse of consumption across the U.S. varied greatly but systematically with house-price declines. We find that financial distress among U.S. households amplified the sensitivity of consumption to house-price shocks. We uncover two essential facts: (1) the decline in house prices led to an increase in household financial distress prior to the decline in income during the recession, and (2) at the zip-code level, the prevalence of financial distress prior to the recession was positively correlated with house-price declines at the onset of the recession. Using ...
Journal Article
Geographic Disparity in the U.S. Population
About half the U.S. population resides on less than 200,000 square miles; the rest is spread over more than 3 million square miles.
How Closing Restaurants and Hotels Spills Over to Total Employment
Due to the increasingly interconnected nature of our economy, losses in one sector could quickly spread to other sectors.
Reopening the U.S.: Gauging the Trend of COVID-19 Transmissions
An analysis suggests that counties accounting for the vast bulk of U.S. GDP aren’t yet seeing a downward trajectory in COVID-19 cases, but growth rates have generally slowed.
How will COVID-19 Affect Financial Assets, Delinquency and Bankruptcy?
Communities with greater financial distress will face larger income shocks caused by COVID-19 and are less prepared to weather them, while also being more likely to go into further financial distress as the pandemic continues.