"Recession and Recovery: How are Americans Affected?" 00:00:00
Effects of the Recession on American Households 00:05:51
High-frequency Surveys in the RAND American Life Panel 00:06:17
Tracked Effects Over Time 00:06:53
Since May 2009: Added Shorter Monthly Surveys 00:07:45
Some of the Topics Covered in the Surveys 00:08:01
Indicator of Immediate Financial Distress 00:08:23
Indicator of Financial Distress 00:08:52
Indicator of Financial Distress 00:09:25
Younger Households More Affected 00:09:50
Poorer Households More Affected 00:10:26
Percent of home owners with negative home equity 00:10:36
Most Have Reduced Spending 00:11:42
Spending Chart 00:12:33
But older persons had smaller declines or even gains 00:13:25
Important component of spending Prescription drugs and health care services 00:13:57
Coping with Income Loss due to Unemployment May 2009 – Jan 2010 00:14:23
Spending and unemployment 00:14:43
Spending levels and change over 3 months 00:15:05
Effect of job loss on dissatisfaction 00:15:45
Effect of job loss on dissatisfaction 00:16:14
Effect of job loss on depression 00:16:20
Stock Market Expectations 00:16:30
Stock Market Expectations Give Mixed Picture 00:16:44
Stock Market Expectations Give Mixed Picture 00:17:06
Expectations About Unemployment Show No Improvement 00:17:18
Effect of recession on retirement 00:17:32
Effect on Retirement 00:17:49
Subjective Probability Past Age 62 Chart 00:18:19
Subjective Probability Past Age 65 Chart 00:19:46
Conclusions 00:20:15
Conclusions (cont’) 00:20:42
Thanks To 00:21:11
Recession and Recovery: How are Americans Affected? 00:21:18
Impact of Recession on Young Adults 00:21:33
At Risk Young Adults 00:22:12
How the Recession has Affected Young Adults 00:23:15
Data Source: Add Health 00:23:31
Measures: Key Impacts of Severe Recession, Young Adults aged 24-32 in 2008 00:24:12
Economic Status Measures 00:25:13
Economic Status by Key Impacts of Economic Downturn 00:25:46
Material Hardships by Job Instability 00:26:38
Material Hardships by Living Arrangement 00:27:13
Percent in Debt if all Assets Liquefied 00:27:42
Health Measures 00:28:00
Health Indicators by Key Impacts of Economic Downturn 00:28:21
Health Indicators by Job Instability 00:28:44
Mental Health by Job Instability 00:29:04
Health Indicators by Living Arrangement 00:29:12
Mental Health by Living Arrangement 00:29:34
Health Indicators by Living Arrangement 00:29:44
Attitudes/Expectations 00:29:51
Attitudes by Key Impacts of Economic Downturn 00:30:14
Young Adults Who Plan to Have 0 or 1 Child 00:30:31
Conclusion 00:30:52
Implications 00:31:45
The Long Reach of Early Childhood Poverty 00:33:21
Poverty rate for children < 6 years old 00:33:51
My talk: Does poverty early in childhood compromise children’s life chances? 00:35:00
A Process Model 00:35:43
Experience Shapes Brain Architecture by Over-Production Followed by Pruning 00:36:57
Neural Circuits are Wired in a Bottom-Up Sequence 00:37:15
Brains and Skills are Built in a Bottom-Up Sequence and Shaped by the “Serve and Return” Nature of Human Interaction 00:37:42
Significant Adversity Affects Brain Power 00:38:12
My focus 00:38:43
Adult Outcomes (up to age 37) 00:38:59
Data and Sample 00:39:26
Simple correlations between childhood income and the child’s adult: 00:40:40
Hypothesized relationship between early-childhood income and adult attainment 00:41:30
Regression model 00:42:16
Statistically significant effects of low income on children’s outcomes 00:43:08
Increase in adult earnings associated with a $3,000 annual increase in income 00:44:13
Norwegian replication: adult earnings 00:45:23
Policy considerations 00:46:13