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The distributional impact of recessions: The global financial crisis and the COVID-19 pandemic recession

机译:经济衰退的分布影响:全球金融危机和科维德 - 19大流行经济衰退

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Using U.S. Current Population Survey data, this paper compares the distributional impacts of the COVID-19 Pandemic Crisis and those of Global Financial Crisis in terms of (ⅰ) worker characteristics, (ⅱ) job characteristics-"social" (where individuals interact to consume goods), "tele-workable" (where individuals have the option of working at home), and "essential" jobs (which were not subject to government mandated shutdowns during the recent recession), and (ⅲ) wage distributions. We find that young and less educated workers have always been affected more in recessions, while women and Hispanics were more severely affected during the Pandemic Recession. Surprisingly, teleworkable, social and essential jobs have been historically less cyclical. This historical acyclicality of teleworkable occupations is attributable to its higher share of skilled workers. Unlike during the Global Financial Crisis, however, employment in social industries fell more whereas employment in teleworkable and essential jobs fell less during the Pandemic Crisis. During both recessions, workers at low-income earnings have suffered more than top-income earners, suggesting a significant distributional impact of the two recessions. Lastly, a large share of unemployed persons was on temporary layoff during the COVID-19 recession, unlike the Global Financial Crisis.
机译:本文使用美国现行人口调查数据比较了Covid-19大流行危机的分配影响和全球金融危机的分布影响(Ⅰ)工人特征,(Ⅱ)工作特征 - “社会”(个人互动)商品),“Teerv-Puperable”(个人在家中选择工作),以及“必不可少的”工作(在最近经济衰退期间不受政府的要求),以及(Ⅲ)工资分布。我们发现年轻人和较少的教育工人一直受到衰退的影响,而在大流行衰退期间,妇女和西班牙裔女性和西班牙裔人受到严重影响。令人惊讶的是,远程工作,社会和必要的工作历史上不太周期性。这种历史的远程工作职业是归因于其技术人员的高度份额。然而,与全球金融危机相比,社会产业的就业更加困扰,而在大流行危机期间,遥水和必要的工作中的就业率下降。在两次审理中,低收入收入的工人遭受了超过最高收入的人,这表明两个核算的重大分布影响。最后,与全球金融危机不同,在Covid-19经济衰退期间,大量失业人员正在临时裁员。

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