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Jorda, Singh, and Taylor's research on pandemic economics cited by Bloomberg, Reuters

UC Davis Economics faculty Oscar Jordà, Sanjay Singh, and Alan M Taylor's new paper, Pandemics: Long-Run Effects, was featured in reporting by Reuters and Bloomberg. The professors analyzed the macroeconomic impacts of 14 pandemics stretching back 700 years, finding adverse effects on the economy persisting roughly 40 years on average.

Drawing on insights from this paper and other work, Taylor also commented on prospects for the U.S. economy for the Wall Street Journal. See additional coverage for UC Davis by Karen Nikos-Rose here.

Another paper by Jordà, Singh, and Taylor, The Long-Run Effects of Monetary Policy, also made a splash in the Financial Times and Wall Street Journal. The paper uses data for seventeen countries over 1890-2015 to estimate macro effects of tight monetary policy on aggregate output, investment, and productivity.

Martin Sandbu summarized their conclusions for the Financial Times:

"Oscar Jordà, Sanjay Singh and Alan Taylor show that after a monetary contraction 'output declines and even twelve years out it has not returned to its pre-shock trend'... This is an important finding for two reasons: 12 years is a very long time — certainly into the 'long run,' which central bankers usually see as far beyond their remit — and the mechanism is different from earlier concerns about 'hysteresis,' or the possibility that unemployment does not go all the way back down after it rises in a downturn."