Decomposing the Relationship between Macroeconomic Conditions and Fatal Car Crashes during the Great Recession: Alcohol- and Non-Alcohol-Related Accidents

2011 ◽  
Vol 11 (1) ◽  
Author(s):  
Chad Cotti ◽  
Nathan Tefft
Keyword(s):  
Unemployment Rate ◽  
Great Recession ◽  
Fixed Effects ◽  
Accident Rate ◽  
Automobile Accidents ◽  
Fatal Accidents ◽  
Macroeconomic Conditions ◽  
The Great Recession ◽  
Fatal Crashes ◽  
The Relationship

Abstract This paper investigates to what extent and in what ways conditions related to the 2007-2008 recession reduced fatal crashes. It hypothesizes that the reduction in fatal automobile accidents operates through both the quantity of driving and changes in behaviors associated with driving. Using state-by-quarter fixed effects models, the study shows that unemployment rate increases significantly reduce fatal accidents. Decomposing the fatal accident rate into accidents per mile traveled and miles traveled per capita reveals that higher unemployment is significantly associated with fewer accidents per mile, and also reveals that fatal accidents associated with alcohol are more responsive to unemployment rate changes than are accidents overall. These results suggest that the recession’s “lost” fatal accidents occurred in areas hit harder by the recession and were in the form of fewer alcohol-related accidents per mile traveled rather than fewer miles traveled overall.

scholarly journals Betrayed by the Elites: How Corruption Amplifies the Political Effects of Recessions

2021 ◽  
pp. 001041402110474
Author(s):  
Carlos Sanz ◽  
Albert Solé-Ollé ◽  
Pilar Sorribas-Navarro
Keyword(s):  
Great Recession ◽  
Fixed Effects ◽  
Political Corruption ◽  
The Political ◽  
Difference In Difference ◽  
The Great Recession ◽  
Level Data ◽  
Political Effects ◽  
History Of ◽  
Municipal Level

We investigate whether corruption amplifies the political effects of economic crises. Using Spanish municipal-level data and a difference-in-difference strategy, we find that local unemployment shocks experienced during the Great Recession (2008–2015) increased political fragmentation. This effect was four times larger in municipalities exposed to malfeasance than in municipalities without a history of political corruption. We bolster this evidence by showing that, conditional on province and population strata fixed effects, there is no evidence of differential pre-trends. We also find that the interaction of unemployment and corruption harms the two traditional main parties and benefits especially the new party on the left ( Podemos).

scholarly journals Vehicle Currency Pricing and Exchange Rate Pass-Through

2021 ◽  
Author(s):  
Natalie Chen ◽  
Wanyu Chung ◽  
Dennis Novy
Keyword(s):  
Exchange Rate ◽  
Exchange Rates ◽  
Great Recession ◽  
Firm Level ◽  
Bilateral Exchange ◽  
The Great Recession ◽  
Pass Through ◽  
Exchange Rate Changes ◽  
Exchange Rate Pass Through ◽  
The Relationship

Abstract Using detailed firm-level transactions data for UK imports, we find that invoicing in a vehicle currency is pervasive, with more than half of the transactions in our sample invoiced in neither sterling nor the exporter’s currency. We then study the relationship between invoicing currencies and the response of import unit values to exchange rate changes. We find that for transactions invoiced in a vehicle currency, import unit values are much more sensitive to changes in the vehicle currency than in the bilateral exchange rate. Pass-through therefore substantially increases once we account for vehicle currencies. This result helps to explain why UK inflation turned out higher than expected when sterling depreciated during the Great Recession and after the Brexit referendum. Finally, within a conceptual framework we show why bilateral exchange rates are not suitable for capturing exchange rate pass-through under vehicle currency pricing. Overall, our results help to clarify why the literature often finds a disconnect between exchange rates and prices when vehicle currencies are not accounted for.

Disparate Recoveries: Wealth, Race, and the Working Class after the Great Recession

2021 ◽  
Vol 695 (1) ◽  
pp. 173-192
Author(s):  
Fenaba R. Addo ◽  
William A. Darity
Keyword(s):  
Middle Class ◽  
Working Class ◽  
Great Recession ◽  
Wealth Inequality ◽  
Net Worth ◽  
The Great Recession ◽  
Consumer Finances ◽  
White Working Class ◽  
Using Data ◽  
The Relationship

What does it mean to be working class in a society of extreme racial wealth inequality? Using data from the Survey of Consumer Finances, we investigate the wealth holdings of Black, Latinx, and white working-class households during the post–Great Recession (pre–COVID-19) period that spanned 2010 to 2019. We then explore the relationship between working-class and middle-class attainment using a wealth-based metric. We find that, in terms of their net worth, fewer Black working-class households benefitted from the economic recovery than white working-class households. Among white households, the working class saw the greatest increase in wealth in both absolute and relative terms. Working-class households were less likely to be middle class as defined by their wealth holdings, and Black and Latinx households were also less likely to be middle class. For Black households, racial identity is a stronger predictor of wealth attainment than occupational sector.

Booms, Busts, and Changing Labor Markets

2017 ◽  
Author(s):  
James E. Coverdill ◽  
William Finlay
Keyword(s):  
Labor Markets ◽  
Great Recession ◽  
Risk Averse ◽  
The Great Recession ◽  
The Relationship

This chapter explores three issues. First, it shows why the Great Recession affected headhunting so severely: both the hiring rate and the quitting rate declined sharply. Second, it shows how this recession changed the relationship between headhunters and their clients, as the latter became increasingly difficult to please when presented with candidates, because they wanted “perfect” candidates only due to there being a supposed “buyer’s market.” Third, it explains why the recession made employees so reluctant to become candidates and why employee wounds became less effective in turning them into job-changers; candidates, especially those with secure jobs, were now far more risk averse. The Great Recession, notwithstanding the claims that it had created a buyer's market for employers, was not a bonanza for them or for headhunters.

Conclusion

2018 ◽  
Author(s):  
Daniel Edmiston
Keyword(s):  
Public Service ◽  
Great Recession ◽  
Relative Deprivation ◽  
Welfare Policy ◽  
Political Agency ◽  
Social Citizenship ◽  
The Great Recession ◽  
The Everyday ◽  
The Uk ◽  
The Relationship

This book has examined the relationship between inequality and social citizenship through the everyday accounts of notionally equal citizens in austerity Britain. In doing so, it has sought to establish how citizens perceive and negotiate the material and status hierarchies that condition their lives. In particular, whether and how individuals experiencing relative deprivation and affluence develop distinctive modes of reference, attachment and engagement when it comes to welfare and social citizenship. Since the Great Recession, public service reforms and fiscal recalibration have resulted in an increasingly individualistic and commodified welfare settlement in the UK. These developments have given rise to fault lines in the subjectivity and political agency of social citizens that need to be understood within and as contributing towards systemic processes of inclusion and exclusion. Through a schematic summary of the key themes and lessons that have emerged from this book, this concluding chapter considers what this reveals about the rise of anti-social citizenship and its implications for welfare policy and politics going forward.

scholarly journals As Goes the City? Older Americans’ Home Upkeep in the Aftermath of the Great Recession

2019 ◽  
Vol 67 (2) ◽  
pp. 379-397
Author(s):  
Markus H Schafer ◽  
Jason Settels ◽  
Laura Upenieks
Keyword(s):  
Older Adults ◽  
Great Recession ◽  
Fixed Effects ◽  
Physical Space ◽  
Community Dwelling ◽  
Older Americans ◽  
Individual Level ◽  
The Great Recession ◽  
Fixed Effects Regression ◽  
Community Dwelling Older Adults

Abstract The private home is a crucial site in the aging process, yet the upkeep of this physical space often poses a challenge for community-dwelling older adults. Previous efforts to explain variation in disorderly household conditions have relied on individual-level characteristics, but ecological perspectives propose that home environments are inescapably nested within the dynamic socioeconomic circumstances of surrounding spatial contexts, such as the metro area. We address this ecological embeddedness in the context of the Great Recession, an event in which some U.S. cities saw pronounced and persistent declines across multiple economic indicators while other areas rebounded more rapidly. Panel data (2005–6 and 2010–11) from a national survey of older adults were linked to interviewer home evaluations and city-level economic data. Results from fixed-effects regression support the hypothesis that older adults dwelling in struggling cities experienced an uptick in disorderly household conditions. Findings emphasize the importance of city-specificity when probing effects of a downturn. Observing changes in home upkeep also underscores the myriad ways in which a city’s most vulnerable residents— older adults, in particular—are affected by its economic fortunes.

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