How Should The Government Spend The Fiscal Budget During The COVID-19 Pandemic?
from the St Louis Fed
– this post authored by Serdar Birinci, Economist, St. Louis Fed; Fatih Karahan, Senior Economist, New York Fed; Yusuf Mercan, Assistant Professor, University of Melbourne; and Kurt See, Senior Economist, Bank of Canada.
The COVID-19 crisis has had unprecedented negative effects on the aggregate economic activity in the U.S., especially on the labor market. In response, the U.S. government established a policy package through the Coronavirus Aid, Relief, and Economic Security (CARES) Act in order to help alleviate the effects of economic contraction. This package has two prominent components: the expansion of unemployment insurance (UI) benefits and the introduction of payroll subsidies through forgivable loans provided to firms by the Payroll Protection Program (PPP).
Source: http://econintersect.com/pages/contributors/contributor.php?post=202008290547
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