Older Workers, The Great Recession, and The Impact of Long-Term Unemployment

2011 ◽  
Vol 21 (1) ◽  
pp. 29-33 ◽  
Author(s):  
C. E. Van Horn ◽  
N. Corre ◽  
M. Heidkamp
Keyword(s):  
Great Recession ◽  
Older Workers ◽  
The Great Recession ◽  
The Impact

Modeling Fiscal Stress and Contracting Out in Local Government: The Influence of Time, Financial Condition, and the Great Recession

2017 ◽  
Vol 48 (6) ◽  
pp. 565-583 ◽  
Author(s):  
Antonio M. López-Hernández ◽  
José L. Zafra-Gómez ◽  
Ana M. Plata-Díaz ◽  
Emilio J. de la Higuera-Molina
Keyword(s):  
Great Recession ◽  
Local Governments ◽  
Fiscal Stress ◽  
Contracting Out ◽  
The Great Recession ◽  
Financial Condition ◽  
Precise Understanding ◽  
The Impact ◽  
The Relationship

Various studies have analyzed the relationship between fiscal stress and contracting out, but have failed to achieve conclusive results. In this article, we take a broad view of fiscal stress, addressed in terms of financial condition and studied over a lengthy period (2000-2010). The relationship between fiscal stress and contracting out is studied using a dynamic model, based on survival analysis, a methodology that enables us to take into account the effect of time on this relationship. As this study period includes the years of the Great Recession (2008-2010), we also highlight the impact of this event on the fiscal stress–contracting out relation. The results obtained suggest that taking into account the passage of time and conducting a long-term assessment of financial condition enable a more precise understanding of this relation. We also find that the Great Recession reduced the probability of local governments’ contracting out public services.

scholarly journals The Long-Term Effects of Financial Hardship on Health: Pre and Post the Great Recession

2020 ◽  
Vol 4 (Supplement_1) ◽  
pp. 694-694
Author(s):  
Gillian Marshall
Keyword(s):  
Great Recession ◽  
Medication Use ◽  
Financial Hardship ◽  
Long Term Effects ◽  
Psychological Conditions ◽  
The Great Recession ◽  
Health And Wellbeing ◽  
Survey Sample ◽  
The Impact

Abstract Purpose: Now 10 years after the Great Recession of 2018, we examined the impact and long-term health outcomes impacting adults (≥ 50 years). Methods: Data from the Health and Retirement Survey (sample n=5,160), was used to examine how changes in financial hardship pre-post the Great Recession of 2008 impacted the likelihood of developing new chronic conditions in 2016. Results: Preliminary results suggest that reduced medication use during the recession was significantly correlated with a higher likelihood of developing arthritis, lung disease, psychological conditions, depression, and greater deterioration of mental and physical health relative to an absence of reduced medication use in 2006 and 2010 (1). Conclusion: These findings underscore the adverse influences of increased financial hardships that impact medication use during recessionary periods on long term health and wellbeing of older adults. They also provide evidence of deleterious effects on health of difficulty paying bills throughout the study period.

Liquidity versus Wealth in Household Debt Obligations: Evidence from Housing Policy in the Great Recession

2020 ◽  
Vol 110 (10) ◽  
pp. 3100-3138 ◽  
Author(s):  
Peter Ganong ◽  
Pascal Noel
Keyword(s):  
Housing Policy ◽  
Great Recession ◽  
Regression Discontinuity ◽  
Short Term ◽  
Difference In Differences ◽  
The Great Recession ◽  
Consumption Decisions ◽  
Research Designs ◽  
The Impact

We exploit variation in mortgage modifications to disentangle the impact of reducing long-term obligations with no change in short-term payments (“wealth”), and reducing short-term payments with no change in long-term obligations (“liquidity”). Using regression discontinuity and difference-in-differences research designs with administrative data measuring default and consumption, we find that principal reductions that increase wealth without affecting liquidity have no effect, while maturity extensions that increase only liquidity have large effects. This suggests that liquidity drives default and consumption decisions for borrowers in our sample and that distressed debt restructurings can be redesigned with substantial gains to borrowers, lenders, and taxpayers. (JEL E21, G21, G51, R38)

scholarly journals The Impact of the Great Recession on Mothers’ Employment

2020 ◽  
Author(s):  
Liana Christin Landivar
Keyword(s):  
Labor Force ◽  
Labor Force Participation ◽  
Great Recession ◽  
Job Experience ◽  
The Great Recession ◽  
Married Mothers ◽  
Employment Rates ◽  
Tight Labor Market ◽  
The Impact

In all recent recessions, men’s unemployment has been higher than women’s because they are disproportionately likely to be concentrated in cyclical industries such as construction and manufacturing. This recession has been particularly severe for men and women, as they are both experiencing unprecedented levels of long-term unemployment, along with declining wages. Because of the severity of the recession, married mothers of young children may have increased their labor force participation to compensate for their husbands’ under- or unemployment. Using 2006 and 2010 American Community Survey data, I show that married mothers’ increased labor force participation likely occurred in households that were less economically disadvantaged prior to the recession. The demand for married women’s employment should have been stronger in households where men were employed in industries that were hard-hit by the recession. However, employment rates were lower among women married to men with lower earnings who are or were employed in construction and agriculture, the two industries with the highest levels of unemployment. Because their wives were less likely to be employed prior to the start of the recession, they may have been at a stronger disadvantage in obtaining employment in a tight labor market without recent job experience.

Disruptive Soft Law and Post-Crisis US Reform

2018 ◽  
Author(s):  
Abraham L. Newman ◽  
Elliot Posner
Keyword(s):  
Financial Markets ◽  
Great Recession ◽  
Regulatory Reform ◽  
The United States ◽  
Soft Law ◽  
Long Term Effects ◽  
The Great Recession ◽  
The Us ◽  
International Interaction

Chapter 6 examines the long-term effects of international soft law on policy in the United States since 2008. The extent and type of post-crisis US cooperation with foreign jurisdictions have varied considerably with far-reaching ramifications for international financial markets. Focusing on the international interaction of reforms in banking and derivatives, the chapter uses the book’s approach to understand US regulation in the wake of the Great Recession. The authors attribute seemingly random variation in the US relationship to foreign regulation and markets to differences in pre-crisis international soft law. Here, the existence (or absence) of robust soft law and standard-creating institutions determines the resources available to policy entrepreneurs as well as their orientation and attitudes toward international cooperation. Soft law plays a central role in the evolution of US regulatory reform and its interface with the rest of the world.

Sign in / Sign up

Export Citation Format

Share Document