fbpx High Frequency Data and a Weekly Economic Index during the Pandemic - James Stock | Harvard Kennedy School

HKS Affiliated Authors

Professor of Public Policy, HKS; Harold Hitchings Burbank Professor of Political Economy, FAS

Abstract

December 2020, Paper: "This paper describes a weekly economic index (WEI) developed to track the rapid economic developments associated with the onset of and policy response to the novel coronavirus in the United States. The WEI, with its ten component series, tracks the overall economy. Comparing the contributions of the WEI’s components in the 2008 and 2020 recessions reveals differences in how the two events played out at a high frequency. During the 2020 collapse and recovery, it provides a benchmark to interpret similarities and differences of novel indicators with shorter samples and/or nonstationary coverage, such as mobility indexes or credit card spending." Read Via the Federal Reserve Bank of New York