Eyes on the Economy Before, During, and After COVID-19—David Berger, PhD—Duke University

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Jul 25 2020 29 mins   9
David Berger is an associate professor of economics at Duke University who joins the show the discuss his expertise on the current and future economic climate in the U.S. Press play to learn: What the historically low interest rates in the housing market right now might mean for homeowners and the housing market in general What’s wrong with the administration of unemployment insurance across different states Why/how personal savings rates increased by 30% in April of 2020 As an empirical macroeconomist, Berger researches a variety of topics having to do with the interactions between government policy and the housing markets, as well as issues around imperfect competition in the labor market (i.e. the economic effects of firms that have the power to set wages). In this episode, Berger talks about the current housing market and how mortgage interest rates have trended over the past 30 years, state-level implementation of unemployment insurance administration amid the coronavirus pandemic, what Berger thinks should happen if cases of foreclosure increase, the increasing rate of permanent job loss each month, and the economic importance of reopening elementary schools. He also discusses reasons why the current recession is different from other recessions, such as the fact that wealthier households are not spending money, perhaps because they’ve cut back on eating out and travelling due to the pandemic. This is having a devastating effect on a lot of retailers, and Berger doesn’t think it will improve until the public health problems improve. Press play for all the details, and learn more about Berger’s work at https://sites.google.com/site/davidwberger. Available on Apple Podcasts: apple.co/2Os0myK