美联储-盈利商业周期：新冠肺炎衰退、复苏与政策应对（英）-2022.12

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美联储-盈利商业周期：新冠肺炎衰退、复苏与政策应对（英）-2022.12

# 盈利 # 商业周期大小：0.39M | 页数：18 | 上架时间：2023-01-10 | 语言：英文

美联储-盈利商业周期：新冠肺炎衰退、复苏与政策应对（英）-2022.12.pdf

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美联储-盈利商业周期：新冠肺炎衰退、复苏与政策应对（英）-2022.12.pdf

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类型: 专题

上传者: Wna

撰写机构: 美联储

出版日期: 2023-01-04

摘要：

Using a panel of tax data, we follow the earnings of individuals over business cycles. Compared to prior recessions, the Covid policy response and recovery were far more progressive. Among workers starting in the bottom quintile, median real earnings including fiscal relief increased 66 percent in 2020 and earnings increases offset relief decreases in the 2021 recovery. After the prior two recessions, this measure had decreased by 24 percent. Among those starting in the top quintile, median and average real earnings were approximately unchanged. This difference from prior recessions is largely attributable to larger Covid-era stimulus payments and unemployment insurance.

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