Peter Ganong
p_ganong
new resultsHow did the expiration of the $600 unemployment supplement affect spending and saving?Tldr: the $600 life preserver is deflating quicklyNew work w @FionaGreigDC @Farrell_Diana @Dan_M_Sullivan @pascaljnoel @JoeVavra @maxliebeskind
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.@BLS_gov changed seasonal adjustment and has not provided any conversion factors. We do.Bottom line: new procedure lowers estimated new UI claimsold method would have given 1010K new method given 881K
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Huge puzzle about the role of UI in the economy now 1) $600 UI supplement expired, removing $30 billion/week from the economy2) Spending trackers for proprietary data look *flat*! Answer:
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