HKS Affiliated Authors


January 8, 2021, Opinion; "The US economy lost 9 million jobs in 2020, the second worst year since 1940 for job loss on a percentage basis. Overall, the unemployment rate averaged 8.1 percent, the seventh worst year since 1948. That the coronavirus pandemic resulted in merely a bad recession instead of an unprecedented depression, as many feared in the spring, is in large part due to the massive fiscal and monetary policy response to the crisis."