Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

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May 2020

Still the World’s Safe Haven? Redesigning the U.S. Treasury Market After the COVID-19 Crisis

Darrell DUFFIE
I review the functionality of the secondary market for U.S. Treasuries in March 2020, when the Covid-19 crisis triggered investor flows that overwhelmed intermediaries. Although the Fed was able to largely restore market liquidity through its unprecedented rate of Treasury purchases and other action...
Keywords: COVID-19, Pandemic, US Treasury Market
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Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

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May 2020

Labor Markets During the Covid-19 Crisis: A Preliminary View

Olivier COIBION, Yuriy GORODNICHENKO, Michael WEBER
We use a repeated large-scale survey of households in the Nielsen Homescan panel to characterize how labor markets are being affected by the covid-19 pandemic. We document several facts. First, job loss has been significantly larger than implied by new unemployment claims: we estimate 20 million los...
Keywords: Labor market, unemployment, Employment, COVID-19
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Webinar Series

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Pandemic

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May 2020

Population flow drives spatio-temporal distribution of COVID-19 in China

Jayson S. JIA, Yun YUAN, Ge XU, Jianmin JIA, Nicholas A. CHRISTAKIS
Sudden, large-scale and diffuse human migration can amplify localized outbreaks of disease into widespread epidemics1,2,3,4. Rapid and accurate tracking of aggregate population flows may therefore be epidemiologically informative. Here we use 11,478,484 counts of mobile phone data from individuals l...
Keywords: COVID-19, Population flow, Spatio-temporal distrubution, China
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Webinar Series

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Pandemic

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Apr 2020

Social connections to COVID-19-affected areas increase compliance with mobility restrictions

Ben CHAROENWONG, Alan KWAN, Vesa PURSIAINEN
We study the role of social connections in compliance of U.S. households with mobility restrictions imposed in response to the coronavirus disease 2019 (COVID-19) pandemic, using aggregated and anonymized Facebook data on social connections and mobile phone data for measuring social distancing at th...
Keywords: social networks, non-pharmaceutical interventions, COVID-19
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Webinar Series

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Senior Fellows/Fellows, Capital Market Development: China and Asia

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Jun 2021

FinTech Adoption and Household Risk-Taking

Claire Yurong HONG, Xiaomeng LU, Jun PAN
Using a unique FinTech data containing monthly individual-level consumption, investments, and payments, we examine how FinTech can lower investment barriers and improve risk-taking. Seizing on the rapid expansion of offline usages of Alipay in China, we measure individuals' FinTech adoption by the s...
Keywords: FinTech, Digital Payment, Financial Inclusion, Consumption, Risk Taking, Household Finance
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