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Future Output Loss From COVID-Induced School Closures

this post authored by John Fernald, Huiyu Li, and Mitchell Ochse
The COVID-19 pandemic has caused massive disruptions to the U.S. educational system. Research on school closures - particularly combined with parental income loss - implies that children are likely to attain lower levels of lifetime education compared with pre-pandemic trends. Projections show learning disruptions could lower the level of annual economic output by 1/4 percentage point on average over the next 70 years. The effect is small the first 5-10 years then peaks at a loss of 1/2 percentage point in about 25 years when the children reach prime working age. ....

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Unite paper on economic inequality makes for sobering reading - Louise O'Reilly TD

Sinn Féin spokesperson on Workers’ Rights Louise O’Reilly TD has welcomed the publication of a research paper by the Unite Trade Union, Hungry Bellies are not Equal to Full Bellies, which explores inequality and deprivation in Ireland.
Speaking today, Teachta O’Reilly said that while the paper made for sobering reading, it was also an important piece of work that laid out the facts and tackled some misleading claims which had been allowed to surface recently.
Teahcta O’Reilly said:
“The research paper by the Unite Trade Union was a thoroughly researched piece, and while it made for sobering reading, it is an important piece of work which explores the facts behind inequality and deprivation in Ireland. ....

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The bond market's non-taper tantrum is odd but explainable

That US Treasury yields rose despite the Fed’s no-taper promise suggests a return of inflation fears ....

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Beware the illuson of wages growth - MacroBusiness

Beware the illuson of wages growth - MacroBusiness
macrobusiness.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from macrobusiness.com.au Daily Mail and Mail on Sunday newspapers.

Bureau Of Labor Statistics , Economic Letter , Great Recession , Labor Statistics , பணியகம் ஆஃப் தொழிலாளர் புள்ளிவிவரங்கள் , பொருளாதார கடிதம் , நன்று மந்தநிலை , தொழிலாளர் புள்ளிவிவரங்கள் ,

Accurate data is key in 'quality of life' comparisons

Economics Correspondent
Just before Christmas, the UN Human Development Index 2020 ranked Ireland joint second in the World across a range of indicators which measure quality of life, just below Norway.
There was a minor kerfuffle on Twitter. Hurrah, shouted some. Bah, shouted others.
Quality of life means many things to many people. Some aspects are measurable; some not.
One aspect is prosperity. And normally, income is used to measure that. Economists can make a stab at guessing what that is. But not without a lot of disagreements and even more caveats.
The International Comparison Programme is a data series going back to 1950, managed by the World Bank. It adjusts measures of income across economies around the globe to allow for comparisons. ....

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