Insights / Research Brief•Feb 27, 2024
Lives vs. Livelihoods: The Impact of the Great Recession on Mortality and Welfare
Amy Finkelstein, Matthew J. Notowidigdo, Frank Schilbach, Jonathan Zhang
Recessions reduce mortality, driven largely by the external health effects of reduced economic activity (such as decreases in air pollution); this substantially reduces the welfare cost of recessions, particularly for older people and workers with less education.
