Center for Research on the Wisconsin Economy
3.27.20. Noah Williams. As the COVID-19 pandemic has spread throughout the United States, it has led to mass shutdowns of businesses with many states being placed under shelter-in-place orders.
3.26.20. Junjie Guo. On March 24, 2020, at the direction of Governor Tony Evers, Wisconsin issued a “safer at home” order requiring residents not to leave their home unless necessary. Similar orders to lock down the economy in an attempt to limit the spread of COVID-19 have been issued elsewhere.
3.23.20. Junjie Guo. In its latest news release on unemployment insurance (UI) weekly claims, the U.S. Department of Labor (DOL) reported that, relative to the prior week, the number of initial claims increased significantly by 70,000 in the week ending on March 14, 2020.
3.23.20. Noah Williams. In the wake of the unprecedented economic disruptions caused by COVID-19, there is an increased need for high-frequency data. The economies in many locations around the globe have ground to a standstill, as businesses have shut down and workers have been ordered to shelter in place in order to try to slow the spread of the virus
2.21.20. Junjie Guo and Noah Williams. We evaluate the effects of the expansion in the standard deduction proposed recently in AB 910 by Wisconsin lawmakers. We find it would reduce taxes for about 2 million taxpayers and reduce state tax revenue by about $200 million, so the reduction per affected taxpayer is about $100.
1.17.20. Junjie Guo and Noah Williams. This paper provides forecasts for the United States and Wisconsin economies in 2020. We use a mixed-frequency vector auto-regression model that has been previously applied to forecast the national economy, which we extend to also consider the state of Wisconsin. Our forecasts suggest that the long economic recovery will continue in 2020.
1.6.20. Zhigang Ge. The recent tax policy debate has largely focused on increasing taxes on top earners. Many policies have been proposed with the clear goal of raising tax revenues, such as increasing top income tax rates or imposing wealth taxes.
12.18.19. Noah Williams. In 2017 the state of Wisconsin agreed to an unprecedented agreement, both in the scale of the project and the accompanying state subsidies, for a planned large-scale manufacturing plant by Foxconn.
12.5.19. Noah Williams. Nationwide there has been a slowdown in manufacturing employment in 2019, and the decline seemed to be especially strong in Pennsylvania and Wisconsin.
11.10.19. Kim Ruhl. As part of the escalating trade war, the Chinese government increased substantially the tariffs it levies on a range of products exported from the United States. Trade policy is applied at a national level—a good entering China from the United States is tariffed the same regardless of where it was produced within the United States.