Knowledge@Wharton November 17, 2020
The U.S. economy seems stuck in neutral for the near term as the numbers of new COVID-19 cases reach new highs in nearly all states, although President-elect Joe Biden’s proposals could bring relief on several fronts, according to a recent post-election press briefing held by the Penn Wharton Budget Model (PWBM) on November 12. The PWBM is a nonpartisan research organization that provides economic analysis of the fiscal impact of public policy.
The implications of the unrelenting pandemic were at the top of the agenda during the briefing. “R,” or the effective reproduction number to measure secondary infections, is currently racing as if one’s foot were “on the gas pedal,” noted John Ricco, senior analyst at PWBM.
“When your R...
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