Hello. This is Steve Fazzari and I'm starting to use Twitter. Look forward to connecting.

Ella Needler and I have just finished a paper comparing employment inequality in the Great Recession and the COVID-19 crisis. We explore: gender, race/ethnicity, age, education. Women and lower education groups are hit much harder in the COVID crisis. sites.wustl.edu/fazz/papers/

The federal rescue bill passed the House. Biden will sign it. Good! Here are my thoughts about the package from almost 2 months ago: ineteconomics.org/perspectives/b…

Hey #EconTwitter! I’ve got some research to share. My professor Steven Fazzari and I compared unemployment inequities during the Covid and Great recessions for groups based on gender, race, age and educ. Covid is different and women/less educated are getting hit hard. /1

Here are a few more quick thoughts about the American Rescue Plan: source.wustl.edu/2021/03/washu-…

Important observations from EPI on state/local funds in the ARP. Look at figure A. Much of what state/local governments need is the result of anemic growth prior to the pandemic. epi.org/blog/the-ameri… I make a related point in my Jan. 19 INET article.

Very important. Yes, the US unemployment rate fell to low levels before COVID. But the US economy never came close to recovering its pre-Great Recession trend. Also, it never came close to matching pre-Great Recessions "potential" output forecasts.

Hurray! Together with great coauthors Dominika Ehrenberger, Tomas + Zuzana we finally got it published: Our #metaanalysis on the elasticity of substitution b/w capital and labor, a.k.a. the “Death to the Cobb-Douglas production function” made it to the Review of Economic Dynamics. Thread:

A thread on second- and third-order comments as research killers, related to a recent bopinion post by tylercowen. 1/n

Nice work by Sebastian [email protected] and friends reminded me of an old obscure paper. Seems like I had it pretty much right in 1998! Maybe 21st century social media will make "Capital Income Taxes and Economic Performance" more popular. sites.wustl.edu/fazz/papers/ (at the bottom)

Year over year (Y/Y) measures can be misleading. If monthly CPI inflation were to fall one percentage point (annual rate) every month starting in 12/21 until it hit 2%, Y/Y measure would still keep rising through 3/22 and stay above 5% through 9/22.

We have lost another insightful economist and a truly decent person. I strongly recommend Josh Mason's summary of Jim Crotty's contributions.

🚨 New Working Paper Alert 🚨 Can higher demand growth stimulate productivity growth and labor supply growth? If so, by how much? In this new paper co-authored with Steven Fazzari, we show that the answer is 'Yes, a lot'. Link and short thread below!

Thanks for the shout out. Minor cringe when I see "excess saving" or "saving glut." There is no "saving" without corresponding expenditure defined as something besides consumption. To me, "excess saving" means deficient demand. Data updated through 2020: sites.wustl.edu/householdcashf….

New paper from my long-lasting project with Barry Cynamon and Daniel Cooper that develops and implements a comprehensive measure of American household economic well-being. Barry's tweet summarizes some key takeaways.