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[J. Bradford DeLong] Morgue testing the US economy
[J. Bradford DeLong] Morgue testing the US economy
ViewpointsAug 11, 2020
US national income and output in the first quarter of 2020 was 1.25 percent below what it had been in the fourth quarter of 2019, but still 9.5 percent above what it would be by the second quarter of this year. Now that US national income has plunged 12 percent below what it was at the start of the year, what should we expect for the third quarter? America could always turn out to be lucky; but betting on that would not be prudent. According to Austan Goolsbee and Chad Syverson of the Universit