COVID-19 Thought Leadership Digest: January 21, 2021

As we return from our holiday hiatus, we have a lot of new faculty research to share, including several new articles in Chicago Booth Review. We're also in the midst of our virtual Economic Outlook event series. We kicked off our first event in Chicago last week, where Booth experts shared thought-provoking insights on the economic recovery. Find highlights from their discussion below. Stay tuned for recaps of the Hong Kong and London events.

COVID-19 Research and Insights from Chicago Booth Review

How has the pandemic changed the labor market?
Marianne Bertrand, Steven J. Davis, and Matthew J. Notowidigdo discuss the impact of COVID-19, and policies created to counter it, on the US workforce.

How the COVID-19 recession has differed from the Great Recession
The size of the pandemic's economic shock, and the policy response to it, exceed many recent crises, says Marianne Bertrand.

Why patients may lack patience
Ayelet Fishbach and PhD student Annabelle R. Roberts study how the desire for closure can work against patience in medical contexts such as COVID-19.

Without commutes, how are Americans spending their extra time?
Nonleisure activities eat up the bulk of time saved by working from home, according to research from Steven J. Davis.

COVID-19 stimulus checks spurred saving and debt payment more than spending
Policy makers may be disappointed with the stimulative effects of the CARES Act's direct relief, suggests Michael Weber.

Sharing experiences, even from afar, can bring people closer
Doing things at the same time as others can increase social connection, according to research from Ayelet Fishbach and recent graduates Franklin Shaddy and Yanping Tu.

Follow CBR’s COVID-19 page and social channels for the latest insights from Booth faculty.

Select Thought Leadership in the Media

Mr. Biden goes to Washington
January 20 | BBC: Wake Up to Money
As Joe Biden is sworn in as president, Randall Kroszner discusses prioritizing fighting the virus to save lives and speed up economic recovery. (Interview begins 6:35)

Why Biden's COVID relief plan may need to be more targeted
January 19 | CNBC: Squawk Box
President-elect Joe Biden's rescue plan is following on campaign promises of higher minimum wage and more aid for those struggling during the pandemic. Austan Goolsbee weighs in.

Meet the economist charged with keeping Biden's promises to women and people of color
January 19 | The Washington Post
Cecilia Rouse's focus on how recessions affect women, or on how the changing labor market has hindered gig workers, are even more relevant during the pandemic, says Austan Goolsbee.

The Trump years: Tax cuts and trade wars overshadowed in the end by a virus
January 19 | Reuters
Austan Goolsbee, Raghuram Rajan, and Randall Kroszner comment on the labor market, trade wars, and the stock market during the Trump presidency, both before and after the pandemic.

Professor offers ways to battle 'Zoom fatigue,' reconnect with friends, family amid pandemic
January 8 | WBBM Newsradio
While video conferencing technology has scaled up our work-from-home experience, Nicholas Epley suggests it's had a negative impact on our relationships with others.

World economy faces debt doom loop, more inequity post-pandemic
January 5 | Bloomberg
"We have met every crisis in the recent past with yet more aggressive central bank accommodation and yet more leverage, both public as well as private," said Raghuram Rajan.

Stock market rally in 2020 easily outpaced luxury goods, hedge funds
January 4 | The Wall Street Journal
A lot of venture firms held up last year for the same reason as tech stocks: The pandemic accelerated the uptake of technology, said Steven Kaplan.

To stay up-to-date with media mentions, follow Booth’s In the News page and social channels.

COVID-19 Content across Campus

Between elections and the pandemic, what's next for the US economy?
At Economic Outlook Chicago, Booth faculty surveyed the year ahead as a new administration moves into the White House and the world reels amid the turbulence caused by COVID-19.

Missed credit card payments, payday loans, distrust in government: Americans struggle to bear pandemic impacts
The Rustandy Center shared the latest research update from Marianne Bertrand and coauthors, which highlights how the pandemic has exacerbated income, gender, and race inequalities.

The Pie: A vaccine for billions
On BFI's new podcast, Canice Prendergast describes the urgency of vaccine delivery, the promise of production incentives, and why it pays to fail when developing a vaccine.

The Pie: The pandemic recession's gender gap
On this episode of BFI's podcast, Heather Sarsons discusses labor force gender disparities and the potential long-term implications of the recession on women's employment choices.

Pandemic-era uncertainty on Main Street and Wall Street
This BFI working paper coauthored by Steven J. Davis finds that overall uncertainty continues to substantially dampen capital spending plans.

COVID-19 is a persistent reallocation shock
Steven J. Davis and coauthors present three pieces of evidence that COVID-19 is a persistent reallocation shock in a BFI working paper.

Stock prices, lockdowns, and economic activity in the time of coronavirus
A BFI working paper coauthored by Steven J. Davis finds that stricter lockdown policies drove larger declines in national stock prices.


VIRTUAL EVENTS

Brexit, the US election, and the economies of EMEA
Feb. 2, 1 p.m. GMT
At Economic Outlook London, Randall Kroszner, Veronica Guerrieri, and Brent Neiman will discuss COVID-19's impact on the labor market and much more.