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Insights / Research BriefMar 07, 2024

What Drives Inflation? Lessons from Disaggregated Price Data

Elisa Rubbo
US inflation in the early phases of the COVID pandemic was entirely driven by disruptions in supply and demand across industries, whereas most of the subsequent increase in consumer prices is driven by aggregate demand.
Topics:  COVID-19, Monetary Policy
Insights / Research BriefFeb 01, 2024

Quantifying the Social Value of a Universal COVID-19 Vaccine and Incentivizing Its Development

Rachel Glennerster, Thomas Kelly, Claire T. McMahon, Christopher M. Snyder
A universal COVID-19 vaccine that is effective against existing and future variants could provide the United States population with $1.5–$2.6 trillion more in social value than variant-specific boosters. The social value of a universal vaccine eclipses the cost of incentivizing manufacturers to develop it.
Topics:  COVID-19
Insights / Research BriefNov 15, 2023

Greater Than the Sum of Its Parts: Aggregate vs. Aggregated Inflation Expectations

Alexander Dietrich, Edward S. Knotek II, Kristian O. Myrseth, Robert W. Rich, Raphael Schoenle, Michael Weber
A novel measure of consumer inflation expectations that is constructed by combining forecasts from across different categories of consumption is consistently lower than conventional measures. It is also less volatile and a stronger predictor of consumers’ spending plans.
Topics:  COVID-19
Insights / Research BriefMar 06, 2023

Remote Work Across Jobs, Companies, and Space

Nick Bloom, Steven J. Davis, Stephen Hansen, Peter John Lambert, Raffaella Sadun, Bledi Taska
From 2019 to early 2023, the share of job postings offering remote work for one or more days per week rose more than three-fold in the United States and by a factor of five or more in Australia, Canada, New Zealand, and the United Kingdom.
Topics:  COVID-19, Employment & Wages
Insights / Research BriefJan 02, 2023

Representation and Hesitancy in Population Health Research: Evidence from a COVID-19 Antibody Study

Deniz Dutz, Michael Greenstone, Ali Hortaçsu, Santiago Lacouture, Magne Mogstad, Azeem Shaikh, Alexander Torgovitsky, Winnie van Dijk
This work sheds new light on the underrepresentation of minority and poor households in scientific studies; analysis of a recent COVID-19 serological study suggests that hesitancy to participate is key.
Topics:  COVID-19
Insights / Research BriefOct 18, 2022

Calculating the Costs and Benefits of Advance Preparations for Future Pandemics

Rachel Glennerster, Christopher M. Snyder, Brandon Joel Tan
Without additional action we should expect to lose an average of at least $800 billion every year to future pandemics. Investing to expand vaccine production so that we could vaccinate 70% of the global population against a new virus within six months would cost $60 billion up front and $5 billion a year and generate an expected net present value of over $400 billion. If the US went it alone it would generate $47 billion in net benefits or $141 per head, just from the first significant pandemic.
Topics:  COVID-19
Insights / Research BriefOct 12, 2022

Long Social Distancing

Steven J. Davis, Jose Maria Barrero, Nicholas Bloom
More than 10 percent of Americans with recent work experience will continue social distancing after the COVID-19 pandemic ends, and another 46 percent will do so in limited ways, with older persons, women, the less educated, lower wage earners, and “face-to-face” workers more inclined to social distance.
Topics:  COVID-19, Employment & Wages
Insights / Research BriefSep 13, 2022

Working from Home Around the World

Cevat Giray Aksoy, Jose Maria Barrero, Nicholas Bloom, Steven J. Davis, Mathias Dolls, Pablo Zarate
Based on surveys in 27 countries, this work finds that the pandemic catalyzed a shift to work from home (WFH) around the world, concentrated among college-educated workers. Workers value the option to WFH 2-3 days a week at five percent of pay, on average. Employer plans for WFH levels after the pandemic rise with individual-level productivity in WFH mode and with the cumulative stringency of government-mandated pandemic lockdowns during the pandemic.
Topics:  COVID-19