Word: isn
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Dates: during 2000-2009
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...these people [in our group], being laid off in a recession was important because they experienced a big and long-lasting shock to their lives, including large and lasting earnings losses. Accordingly, they have a large initial increase in mortality that settles down at a permanently higher level. That isn't in conflict with the other finding. Even though middle-aged men with good, stable jobs are an important part of the labor market, in terms of the entire population, they're not a dominating fraction. In a recession, everyone holds back on alcohol consumption, smoking and overeating. Also, there...
...upscale consumer than its competitors do - the company says the average family income for an average Dollar Tree consumer is above $40,000. Nor are these consumers likely to abandon Dollar Tree when times improve - they may simply buy more discretionary items. "Consumers are watching every penny, and this isn't temporary," says Davidowitz, the retail consultant. "Dollar Tree is positioned phenomenally...
...Minding the gap isn't merely an academic exercise. Excess capacity directly affects the biggest question facing policymakers today: when to exit from stimulus programs that were introduced to combat the recession. Everyone agrees the cure for excess capacity is increasing demand, whether it is generated through a fundamentally strengthening economy or through artificial means like "Cash for Clunkers" measures. Turn off the tap too quickly before normal demand recovers, and the downturn could persist. "The best way of reducing excess capacity is by not prematurely unwinding stimulus spending," Lin of the World Bank told TIME...
...what if this recession isn't an ordinary recession? There is a widespread belief among economists that a secular shift in global spending patterns is under way. U.S. consumers, the usual drivers of economic growth, are reducing their outlays and may do so for years to come as they pay down debt. Under this "new normal" scenario, some of today's spare capacity may never come back into action because total demand will remain depressed indefinitely. Factories in some crowded sectors will have to be permanently closed or retooled to make different products...
...That's not the only potential conflict at play. While the Justice Department has already decided that Birkenfeld isn't a true whistle-blower, the IRS has yet to make its own determination. An adverse ruling "may make more sense legally than it does from a policy standpoint," says former IRS commissioner Margaret Richardson. But if the IRS comes to a different conclusion from the DOJ - and under a new law, Birkenfeld can challenge the IRS decision in court - the UBS whistle-blower could end up collecting the first of millions of dollars from the government even as he sits...