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1. The Economy in its Labyrinth: A Structuralist View of the Mexican Economy in the 21st Century

Author:
Liz Monroy Gomez Franco
Publication Date:
01-2024
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
In this paper, I analyze the performance of the Mexican economy during the two decades of the 21st century. I focus on the aggregate and sectoral dynamics of the economy to understand the underlying dynamics behind the aggregate performance of the economy. With these results in mind, I analyze the changes and continuities in the conduction of macroeconomic and labor market policy with the arrival of a new administration in 2018. The goal of analyzing both elements is to provide an integrated view of the situation in which the Mexican economy will face three structural challenges: the medium and long-run effects of the COVID-19 pandemic, the integration of artificial intelligence into the production process, and climate change.
Topic:
Climate Change, Political Economy, History, Macroeconomics, Artificial Intelligence, COVID-19, and Labor Market
Political Geography:
North America and Mexico

2. The influence of gasoline and food prices on consumer expectations and attitudes in the COVID era

Author:
Joanne Hsu
Publication Date:
05-2024
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
Food and gasoline prices are extremely salient to consumers, who regularly purchase these goods, and these prices are highly visible. The shared experience of purchasing food and gasoline makes it no surprise that those prices have been blamed for the relatively dismal consumer views of the economy in 2023 amid strong economic indicators, including slowing inflation, low unemployment, and robust growth. At the same time, consumer inflation expectations have eased during this past year. This Policy Brief investigates the role food and gasoline prices play in influencing consumer inflation expectations and economic sentiment, as measured on the University of Michigan Surveys of Consumers, and focuses on the COVID inflationary episode. The author finds that, although consumer sentiment now appears to be more sensitive to inflation than prior to the pandemic, inflation expectations do not. Even though inflation has waned, consumers still spontaneously comment on the negative impact of high prices on their lives. That said, these persistently negative perceptions about inflation have not translated into persistently high inflation expectations.
Topic:
Inflation, COVID-19, Consumer Behavior, and Cost of Living
Political Geography:
North America and United States of America

3. 'I Don't Know What Tomorrow will Bring': Understanding COVID-19’s Impact on the United States’ Stateless Population

Author:
Ashley Walters, Taryn Painter, and Heidi Meyers
Publication Date:
02-2024
Content Type:
Journal Article
Journal:
Statelessness & Citizenship Review
Institution:
Peter McMullin Centre on Statelessness, Melbourne Law School
Abstract:
In March 2020, COVID-19 was declared by the World Health Organisation (‘WHO’) as a global pandemic. Since the WHO’s declaration, it has become increasingly clear that the most vulnerable communities have experienced the brunt of the pandemic. Though race, ethnicity and economic status are considered in a majority of reports on the social, physical and financial impacts of COVID-19, there is little to no information on the impact of COVID-19 on stateless communities within the United States (‘US’). This research endeavours to add to the understanding of statelessness in the US by determining the impacts of COVID-19 on stateless people in the US through a survey scoping project. Through anonymous questionnaires completed by stateless individuals (n=19) in the United States, this study explores how stateless individuals have been impacted by the pandemic, including experiencing economic hardships, mental health challenges, physical health concerns and issues with documentation and legal status.
Topic:
Health, Economy, Mental Health, Pandemic, COVID-19, Stateless Population, Vulnerability, Legal Status, and Documentation
Political Geography:
North America and United States of America

4. Did Supply Chains Deliver Pandemic-Era Inflation?

Author:
Phil Levy
Publication Date:
10-2024
Content Type:
Policy Brief
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
This Policy Brief argues that supply chain breakdowns were not a principal cause of pandemic-era inflation. Levy focuses on US trade in containerized goods and shows that, within months of the pandemic’s onset, the quantities of goods delivered in fact increased significantly. The sharp increases in inflation and shipping prices and the accompanying delays and empty shelves in the presence of significantly increased quantities suggest, instead, a large positive demand shock. Goods consumption levels rose sharply and remained elevated into 2023 and beyond, even as shipping delays and price hikes dissipated. The author concludes that, while it may be worthwhile to make supply chains more efficient and aim for increased elasticity of supply, the goal of avoiding inflation and shortages is likely better met through improved demand management.
Topic:
Inflation, Trade, COVID-19, Shipping, and Supply Chains
Political Geography:
North America and United States of America

5. Formula for a Crisis: Protectionism and Supply Chain Resiliency—the Infant Formula Case Study

Author:
Scott Lincicome, Gabriella Beaumont-Smith, and Alfredo Carrillo Obregon
Publication Date:
01-2023
Content Type:
Policy Brief
Institution:
The Cato Institute
Abstract:
It has become accepted wisdom in Washington that the COVID-19 pandemic revealed how openness to international trade and investment increases U.S. vulnerability to economic shocks and contributes to widespread shortages of food, medicine, and other essential goods. This official narrative, however, ignores ample economic research showing that, while disruptions are inevitable in a modern economy, the alternative to free trade—a protectionism‐​driven onshoring of global supply chains—carries its own risks and can even heighten vulnerability by inhibiting natural market adjustments to economic shocks. The infant formula crisis, which lasted for most of 2022 and was unique to the United States, provided an unfortunate real‐​world lesson in this regard.
Topic:
International Trade and Finance, Free Trade, Resilience, COVID-19, and Supply Chains
Political Geography:
North America and United States of America

6. The First COVID Wave: Comparing Experiences of Adults Age 50 and Older in the U.S. and Europe

Author:
Thomas Barnay and Eric Defebvre
Publication Date:
04-2023
Content Type:
Policy Brief
Institution:
Commonwealth Fund
Abstract:
Three years after the COVID-19 pandemic began, the United States remains one of the hardest-hit countries, with more than 1 million confirmed coronavirus deaths, of which more than 91 percent involved people 50 years and older.1 Beyond causing this enormous loss of life, the pandemic has had other significant adverse consequences, including hospitalizations, job loss, and delayed care for millions of Americans. In this brief, we examine how U.S. adults age 50 and older fared during the first wave of the pandemic in the summer of 2020, compared with their peers in European countries.
Topic:
Pandemic, COVID-19, and Health Crisis
Political Geography:
North America and United States of America

7. Radical Steps Are Essential to Jump-Starting the Replacement of the Flawed US Money Regime

Author:
Brendan Brown
Publication Date:
03-2023
Content Type:
Policy Brief
Institution:
Hudson Institute
Abstract:
A previous policy memo argued that flaws in the actual US money regime are responsible for the Great Pandemic Inflation.1 Now that reported inflation has been falling, some of us might imagine that addressing these flaws has become a non-urgent matter. After all, great supply shocks tend to come rarely. But such complacence does not fit the facts. The case for getting rid of the present rotten monetary regime is not simply based on the argument that it has malfunctioned so severely during the pandemic and war supply shock. That malfunctioning continues into the present, where there is now positive supply side news (the pandemic dislocation is fading, and a natural gas glut has emerged despite the continuing Russia-Ukraine War). The Federal Reserve and other central banks, still trying to navigate policy in an anchorless monetary system by choosing a path for short-term interest rates, are stumbling from one huge blunder to another, even if they have a rare lucky stretch in between. Beyond the woes of how the 2 percent inflation standard performed during the supply shock and subsequent supply restoration, this regime should be held responsible for a range of economic and social consequences that predate the pandemic and war. These include malinvestment (poor allocation of capital due to corrupted signaling in markets), advancement of monopoly capitalism, bloated government outlays, and punitive monetary taxation (in the form of inflation tax or monetary repression tax), all of which take their toll. Instead of enjoying a top-quality money with all its benefits, individuals have had to put up with a poor money and all its related costs, particularly the ongoing danger of serious loss of purchasing power.
Topic:
Economics, Monetary Policy, Inflation, and COVID-19
Political Geography:
North America and United States of America

8. The Effects of the United States-China Trade War During the COVID-19 Pandemic on Global Supply Chains: Evidence from Viet Nam

Author:
Duc Anh Dang and Ngoc Anh Tran
Publication Date:
08-2023
Content Type:
Working Paper
Institution:
Economic Research Institute for ASEAN and East Asia (ERIA)
Abstract:
The trade war between the United States (US) and China has affected their bilateral trade as well as that with other countries. This study investigates how Vietnamese firms performed during the COVID-19 pandemic under the shadow of this trade war. The change in the log of Vietnamese exports to the US from 2017 to 2020 is used to measure the impact of the trade war, and the change in the log of Chinese exports to the US is then used as an instrument for the Vietnamese export change during the same period. It is found that firms that faced more trade war exposure increased their investment, profit, and value added, which may be due to the market exit of unproductive firms. Moreover, the trade war impact is more pronounced for large firms. Foreign-invested firms gained less from trade war exposure. The pandemic weakened the trade war effect on firm performances; however, it exacerbated the trade tension effect on foreign-trade firms.
Topic:
Bilateral Relations, Investment, Trade, and COVID-19
Political Geography:
China, Asia, North America, and United States of America

9. HIV, the Legacy of America’s Response, and Lessons for Future Outbreaks

Author:
Alisha Smith-Arthur
Publication Date:
11-2023
Content Type:
Journal Article
Journal:
American Diplomacy
Institution:
American Diplomacy
Abstract:
As I stood in line (safety distanced) to receive a COVID test before returning home to the US after a trip to Cote d’Ivoire in 2022, I was able to see and reflect upon the enduring legacy of the American public health diplomacy effort to fight the global pandemic of HIV. The testing site had the unmistakable dual-flag PEPFAR (The President’s Emergency Plan for AIDS Relief, announced by George W. Bush in 2003) logo outside, indicating that the testing equipment (and likely the training for the personnel inside) came via a PEPFAR project. I’ve seen similar stamps on rural labs and remote health posts across the countries I’ve worked in (as well as on the airport welcome signs of many a friendly health worker who has readily included me in their work), and it always serves to remind me of the common goals we are working towards in these health diplomacy projects.
Topic:
HIV/AIDS, Diplomacy, Public Health, and COVID-19
Political Geography:
Africa, North America, and United States of America

10. Resilience of Faith: Post-Covid Religious Trends and the Effect of Ecclesiastical Policy in the United States

Author:
Angela Cools, Carlos Esparza, and Jiwon Park
Publication Date:
12-2023
Content Type:
Working Paper
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
This paper delves into the impact of the Covid-19 pandemic and related policies on religious attendance, with a particular focus on Catholic church attendance in the United States. The study utilizes smartphone location data from SafeGraph Inc. to track weekly religious attendance trends from 2019 through the end of 2022. This approach offers a comprehensive analysis of how attendance patterns evolved during the pandemic. Notably, the study leverages two distinctive features of the Catholic Church: its division into 175 U.S. territorial dioceses, each overseen by a bishop, and the requirement for members to attend Sunday Mass. The study reveals several significant findings. Firstly, it highlights the dramatic decline in religious service attendance following the outbreak of Covid-19. In comparison to 2019 attendance levels, Catholic church visits lagged behind restaurants and other religious institutions throughout 2020 and 2021. However, by 2022, both Catholic and non-Catholic religious attendance had rebounded, returning to approximately 90% of their 2019 levels by October 2022. Secondly, the paper explores the impact of religious policies, focusing on the lifting of dispensations that temporarily exempted Catholics from the requirement to attend Sunday Mass during the pandemic. The study uncovers that dispensation lifting resulted in a 4 percentage point increase in weekend church attendance compared to the 2019 baseline. Notably, this boost was short-lived, lasting for only six weeks following the lifting of dispensations. It's worth mentioning that the effect of lifting dispensations was smaller in magnitude compared to the impact of church reopenings, which were associated with a 6 to 10 percentage point increase in attendance. Thirdly, the study emphasizes the lack of a significant correlation between the lifting of dispensations and changes in visits to non-Catholic religious institutions or restaurants. This suggests that the impact of dispensation lifting on church attendance was independent of other reopening events. In the broader context, this paper contributes to the understanding of religious practice in the face of adverse events, such as natural disasters or economic crises. It distinguishes itself by using actual behavioral data, offering high-frequency insights into the dynamics of religious practice, and benefiting from a large sample size. Additionally, the study sheds light on the impact of religious policies on individual behavior, particularly through the novel exogenous variation introduced by the lifting of dispensations in U.S. Catholic dioceses. Furthermore, this research aligns with the broader body of literature on the effects of social distancing measures on mobility patterns. It contributes valuable insights into mobility within religious institutions, contrasting it with mobility trends in restaurants and bars.
Topic:
Religion, Catholic Church, and COVID-19
Political Geography:
North America and United States of America