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Working Paper
Choices and Implications when Measuring the Local Supply of Prescription Opioids
Mezza, Alvaro; Cho, David; Montes, Joshua (2022-11-22)
Despite the growth in the literature on the opioid crisis, questions remain on how to best measure the local supply of prescription opioids. We document that measures based on the number of prescriptions largely track hydrocodone, while measures based on morphine-equivalent amounts largely track oxycodone. This choice matters, given the well-documented link between oxycodone and the rise in use of illicit opioids such as heroin, plus the fact that oxycodone and hydrocodone (the two most common prescription opioids) are only weakly correlated. We recommend local measures of the supply of ...
Finance and Economics Discussion Series , Paper 2022-078

Working Paper
What Happened to the US Economy During the 1918 Influenza Pandemic? A View Through High-Frequency Data
Velde, Francois R. (2020-04-15)
Burns and Mitchell (1946, 109) found a recession of "exceptional brevity and moderate amplitude." I confirm their judgment by examining a variety of high-frequency data. Industrial output fell sharply but rebounded within months. Retail seemed little affected and there is no evidence of increased business failures or stressed financial system. Cross-sectional data from the coal industry documents the short-lived impact of the epidemic on labor supply. The Armistice possibly prolonged the 1918 recession, short as it was, by injecting momentary uncertainty. Interventions to hinder the contagion ...
Working Paper Series , Paper WP-2020-11

Working Paper
Termination of SNAP Emergency Allotments, Food Sufficiency, and Economic Hardships
Plum, Alexander; Dasgupta, Kabir (2023-07-07)
To meet the rising need for food and nutrition assistance during the pandemic in the United States, all states were approved to provide Emergency Allotments (EA) to households enrolled in the Supplemental Nutrition Assistance Program (SNAP). In this analysis, we use the Census Bureauâ€™s Household Pulse Surveys and exploit staggered state-level variation in dissolution of the SNAP EA payments to study whether the end of EA is associated with food-related challenges and economic hardships. Our findings indicate that EA termination is followed by a decrease in the likelihood that adult ...
Finance and Economics Discussion Series , Paper 2023-046

Discussion Paper
Does the BCG Vaccine Protect Against Coronavirus? Applying an Economist’s Toolkit to a Medical Question
Pinkovskiy, Maxim L.; Bluhm, Richard (2020-05-11)
As COVID-19 has spread across the globe, there is an intense search for treatments and vaccines, with numerous trials running in multiple countries. Several observers and prominent news outlets have noticed that countries still administering an old vaccine against tuberculosis—the Bacillus Calmette-Guérin (BCG) vaccine—have had fewer coronavirus cases and fewer deaths per capita in the early stages of the outbreak. But is that correlation really strong evidence that the BCG vaccine provides some defense against COVID-19? In this post, we look at the incidence of coronavirus cases along ...
Liberty Street Economics , Paper 20200511

Report
Pandemic Lockdown: The Role of Government Commitment
Moser, Christian; Yared, Pierre (2021-08-03)
This paper studies lockdown policy in a dynamic economy without government commitment. Lockdown imposes a cap on labor supply, which improves health prospects at the cost of economic output and consumption. A government would like to commit to the extent of future lockdowns in order to guarantee an economic outlook that supports efficient levels of investment into intermediate inputs. However, such a commitment is not credible, since investments are sunk at the time when the government chooses a lockdown. As a result, lockdown under lack of commitment deviates from the optimal policy. Rules ...
Staff Report , Paper 627

Working Paper
The COVID-19 Pandemic and Family Economic Well-being: Evidence from the Survey of Consumer Finances
Goodman, Sarena; Li, Gina; Moore, Kevin B.; Volz, Alice Henriques (2024-08-23)
The COVID-19 pandemic caused severe disruptions to the U.S. labor market and economic activity. We establish connections between family experiences of the pandemic, their income under normal conditions, and their later economic well-being using the 2022 Survey of Consumer Finances. By their interview, one-third of families experienced net employment declines, one-third had teleworked, and one-fifth had significant COVID-19-related health events. These experiences strongly reflected families’ positions in the income distribution, with lower-income families bearing the brunt. They also ...
Finance and Economics Discussion Series , Paper 2024-068

Working Paper
How Important Is Health Inequality for Lifetime Earnings Inequality?
Hosseini, Roozbeh; Kopecky, Karen A.; Zhao, Kai (2021-01-04)
Using a dynamic panel approach, we provide empirical evidence that negative health shocks reduce earnings. The effect is primarily driven by the participation margin and is concentrated in less educated individuals and those with poor health. We build a dynamic, general equilibrium, life cycle model that is consistent with these findings. In the model, individuals whose health is risky and heterogeneous choose to either work, or not work and apply for social security disability insurance (SSDI). Health affects individuals’ productivity, SSDI access, disutility from work, mortality, and ...
FRB Atlanta Working Paper , Paper 2021-1

Working Paper
Employment Trajectories among Individuals with Opioid Use Disorder: Can Evidence-Based Treatment Improve Outcomes?
Burke, Mary A.; Sullivan, Riley; Carman, Katherine Grace; Wen, Hefei; Wharam, James Frank; Yu, Hao (2022-10-01)
Using administrative records of Medicaid enrollees in Rhode Island that link their health-care information with their payroll employment records, this paper produces new stylized facts concerning the association between opioid use disorder (OUD) and employment and inquires as to whether treatment with FDA-approved medications might boost the job-finding rates of OUD patients. We find that individuals diagnosed with OUD are less likely to be employed compared with other Medicaid enrollees, that their employment tends to be more intermittent, and that they face increased job-separation risk ...
Working Papers , Paper 22-25

Working Paper
Work from Home After the COVID-19 Outbreak
Mertens, Karel; Bick, Alexander; Blandin, Adam (2020-07-17)
Based on rich novel survey data, we document that 35.2 percent of the US workforce worked entirely from home in May 2020, up from 8.2 percent in February. Highly educated, high-income and white workers were more likely to shift to working from home and maintain employment following the pandemic. Individuals working from home daily before the pandemic lost employment at similar rates as daily commuters. This suggests that, apart from the potential for home-based work, demand conditions also mattered for job losses. We find that 71.7 percent of workers that could work from home effectively did ...
Working Papers , Paper 2017

Working Paper
Health Insurance and Hospital Supply: Evidence from 1950s Coal Country
http://fedora:8080/fcrepo/rest/objects/authors/; http://fedora:8080/fcrepo/rest/objects/authors/ (2020-04-17)
The United States government spends billions on public health insurance and has funded a number of programs to build health care facilities. However, the government runs these two types of programs separately: in different places, at different times, and for different populations. We explore whether access to both health insurance and hospitals can improve health outcomes and access to health care. We analyze a coal mining union health insurance program in 1950s Appalachia with and without a complementary hospital construction program. Our results show that the union insurance alone increased ...
Finance and Economics Discussion Series , Paper 2020-033

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