Annual Conference

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Trade, Growth and Development, Senior Fellows/Fellows

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May 2021

“Golden Ages”: A Tale of the Labor Markets in China and the United States

Hanming FANG, Xincheng QIU
We document stark differences in the labor market outcomes between the U.S. and China, the largest two economies in the world, during the past 30 years. (1) The peak age in cross-sectional age-earnings profiles stays constant at around 45- 50 years old in the U.S. but decreases sharply from 55 to 35...
Keywords: Age-Earnings Profiles, Human capital, Life Cycle
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Senior Fellows/Fellows

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Pandemic

Working from Home Around the World

Steven J. DAVIS, Nicholas A. BLOOM, Jose Maria BARRERO, Cevat Giray AKSOY, Mathias DOLLS, Pablo ZARATE
The pandemic triggered a large, lasting shift to work from home (WFH). To study this shift, we survey full-time workers who finished primary school in 27 countries as of mid 2021 and early 2022. Our cross-country comparisons control for age, gender, education, and industry and treat the U.S. mean as...
Keywords: Work from home, preferences over working arrangements, commute times, COVID-19 pandemic, productivity surprises, government lockdown effects, innovation, cities
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Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

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May 2020

Will COVID-19 Set off the Next Global Financial Crisis?

Cyn-Young PARK
Keywords: COVID-19, Pandemic, financial crisis
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Senior Fellows/Fellows

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Senior Fellows/Fellows

Why Working From Home Will Stick

Steven J. DAVIS, Nicholas A. BLOOM, Jose Maria BARRERO
COVID-19 drove a mass social experiment in working from home (WFH). We survey more than 30,000 Americans over multiple waves to investigate whether WFH will stick, and why. Our data say that 20 percent of full workdays will be supplied from home after the pandemic ends, compared with just 5 percent ...
Keywords: COVID, working-from-home
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Senior Fellows/Fellows

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Senior Fellows/Fellows

Why Have Negative Nominal Interest Rates Had Such a Small Effect on Bank Performance? Cross Country Evidence

Andrew K. ROSE, Jose A. LOPEZ, Mark M. SPIEGEL
We explore the effect of negative nominal interest rates on bank profitability and behavior using non‐structural techniques and a cross‐country panel of over 5,200 banks in 27 countries.  Our data set includes annual observations for Japanese and European banks between 2010 and 2017, and covers...
Keywords: zero, effective, lower, bound, data, firm, empirical, regression, panel, deposit, size
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