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Use and Abuse of Statistical Models in COVID19 (Video)
In absence of factual tests, the void has been filled by statistical forecasts, many of which suffer from some of the same fallacies as historical models. Compounding the problem is that these models are being created in real time. These models have contributed to social and political panic.
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Unemployment Claims Surpass Great Recession
The unprecedented economic impact of the COVID-19 outbreak is crushing the labor market.
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Cash Is King in COVID-19
We’re still early in this crisis, so who knows what patterns in cash demand will emerge. But for now, cash is filling its normal role as alleviator of uncertainty. To cope with the turmoil, people are withdrawing a bit more of the stuff. And that’s fine!
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Controls Breeding More Controls
The extraordinary government clampdown on economic life that we are enduring — in order to preserve hospital beds and the capacity of doctors and nurses — is the result, not just of the coronavirus, but of the severe restrictions on economic activity that have made our economy brittle and poorly-suited to adapt and respond to this natural emergency.
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