Unequal Shocks and the Amplification of Recessions (Invitation only)
The Washington Center for Equitable Growth hosted a seminar by Christina Patterson, resident scholar at Equitable Growth and Ph.D. candidate in economics at the Massachusetts Institute of Technology. Patterson presented new research on the amplification of recessions through the unequal incidence of shocks among workers. Using U.S. administrative data, she defines a mechanism—the Matching Multiplier—to capture the amplification of aggregate shocks based on the composition of worker marginal propensities to consume, or MPC. Patterson documents that earnings of high-MPC individuals are more exposed to recessions and shows, using local labor market variation, that areas with higher matching multipliers experience larger employment fluctuations over the business cycle.
This event was an installment of our monthly academic seminar series, which aims to elevate important new research on issues related to whether and how economic inequality impacts economic growth. It was hosted at our offices in Washington, DC.
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