Pre-crisis Levels Research Articles

Assessing Greece’s social vulnerability patterns in times of perma-crisis (2008–2022)

IntroductionThe study aims to map and analyse the development of social vulnerability patterns in Greece through a perma-crisis context (economic crisis, austerity, covid-19, energy, and inflation crisis) over the period 2008-2022.MethodsThe paper rests on the construction of a composite index of four key pillars of social vulnerability (employment, living conditions, health, and education) consisting of 15 selected variables obtained from the official Eurostat datasets and using PCA analysis.ResultsOur findings show that social vulnerability patterns in Greece demonstrate a considerable shift during the stated period where certain social groups (i.e., NEETs and precarious workers) seem to suffer the most. The first pattern (2008-2016) is largely characterized by the intensity and severity of the economic crisis and austerity measures, which contributed to the exacerbation of social vulnerability. The second pattern (2017-2022) presents a gradual decline mainly due to the recovery of the economy and a decrease in unemployment rates featuring a strong tendency to reach the pre-crisis levels in the years to come.DiscussionThe high levels of social vulnerability leading to social exclusion, poverty, and the widening of inequalities, impede the country’s resilience and recovery efforts and undermine social cohesion.

The impact of economic crisis, COVID-19, and the Beirut Blast on colorectal cancer patients in Lebanon: A trend to operate more late-stage complex cases.

The convergence of the economic crisis, COVID-19 pandemic, and Beirut Blast has precipitated unprecedented challenges for the healthcare system in Lebanon, particularly for cancer patients. Amidst these crises, our study evaluates its contribution to a concerning trend of operating on more late-stage and complex colorectal cancer (CRC) cases. We included 155 patients operated for CRC between 2017 and 2023. Patients age; sex; operation type (emergency or elective); tumor size, grade, and location; tumour, node, metastasis stage; lymphatic, vascular and perineural invasions; American Society of Anesthesiologists (ASA) score, presentation and previous history, and complications were examined. Surgical outcomes remained relatively consistent before and after the crisis. However, there was a notable increase, with patients being 3.59 times more likely to undergo resection of adjacent organs in metastatic disease post-crisis. Patient characteristics also exhibited notable shifts, with a 9.60-fold increase in the likelihood of having an ASA score of at least 2 after the crisis. Additionally, there was a 5.36-fold decrease in the odds of patients undergoing a colonoscopy before their diagnostic one post-crisis. Preoperative carcinoembryonic antigen levels were significantly elevated post-crisis compared to pre-crisis levels. Pathological findings revealed increased odds of perineural, vascular, and lymphatic invasion post-crisis. Additionally, there was a notable increase in the likelihood of hepatic synchronous metastases post-crisis. Furthermore, a trend to operate on complicated diseases was noted with an increased number of colostomies. The economic crisis in Lebanon has profoundly affected early intervention and comprehensive treatment for CRC patients, resulting in a concerning rise in late-stage cases requiring surgical intervention.

From disruption to recovery: a multi-country analysis of tourism and hospitality firms’ performance post-COVID-19

ABSTRACT This study employs a discontinuous growth model, a method that captures shifts in trends over time, to explore how the performance of tourism and hospitality firms has evolved from the pre-COVID to the post-COVID period. It uncovers two key insights. Firstly, a substantial decrease in tourism and hospitality firms’ financial and market performance was evident in 2020. For instance, their return on assets in 2020 was 348% lower than in 2019. Secondly, while there was no improvement in their financial performance in 2021, a noteworthy improvement in market performance was observed. In 2022, both financial and market performance exhibited significant recovery. Remarkably, the degree of recovery in market performance in 2021 and financial performance in 2022 mirrored their respective declines in 2020, indicating a restoration of tourism and hospitality firms’ performance to the pre-crisis level. However, this restoration was not observable among firms with low liquidity, little retained earnings, and high financial constraints, suggesting that such firms may take actions (such as cost-cutting) that can lead to a decline in their quality of services and customer experiences. Therefore, this study underscores the importance of government support to some tourism and hospitality firms even in the aftermath of the COVID-19 crisis.

Implementation of Inpatient Electronic Consultations During the COVID-19 Crisis and Its Sustainability Beyond the Pandemic: Quality Improvement Study.

Limiting in-person contact was a key strategy for controlling the spread of the highly infectious novel coronavirus (COVID-19). To protect patients and staff from the risk of infection while providing continued access to necessary health care services, we implemented a new electronic consultation (e-consult) service that allowed referring providers to receive subspecialty consultations for patients who are hospitalized and do not require in-person evaluation by the specialist. We aimed to assess the impact of implementing e-consults in the inpatient setting to reduce avoidable face-to-face referrals during the COVID-19 pandemic. This quality improvement study evaluated all inpatient e-consults ordered from July 2020 to December 2022 at the University of California Irvine Medical Center. The impact of e-consults was assessed by evaluating use (eg, number of e-consults ordered), e-consult response times, and outcome of the e-consult requests (eg, resolved electronically or converted to the in-person evaluation of patient). There were 1543 inpatient e-consults ordered across 11 participating specialties. A total of 53.5% (n=826) of requests were addressed electronically, without the need for a formal in-person evaluation of the patient. The median time between ordering an e-consult and a specialist documenting recommendations in an e-consult note was 3.7 (IQR 1.3-8.2) hours across all specialties, contrasted with 7.3 (IQR 3.6-22.0) hours when converted to an in-person consult (P<.001). The monthly volume of e-consult requests increased, coinciding with surges of COVID-19 cases in California. After the peaks of the COVID-19 crisis subsided, the use of inpatient e-consults persisted at a rate well above the precrisis levels. An inpatient e-consult service was successfully implemented, resulting in fewer unnecessary face-to-face consultations and significant reductions in the response times for consults requested on patients who are hospitalized and do not require an in-person evaluation. Thus, e-consults provided timely, efficient delivery of inpatient consultation services for appropriate problems while minimizing the risk of direct transmission of the COVID-19 virus between health care providers and patients. The service also demonstrated its value as a tool for effective inpatient care coordination beyond the peaks of the pandemic leading to the sustainability of service and value.

Infant, Neonatal, and Post-neonatal Mortality in Greece: A Nationwide Time-Trend Analysis.

Infant mortality is a crucial perinatal measure and is also regarded as an important public health indicator. This study aimed to comprehensively present time trends in infant, neonatal, and post-neonatal mortality in Greece. The annual infant mortality rate (IMR), the neonatal mortality rate (NMR), and the post-neonatal mortality rate (PNMR) were calculated based on official national data obtained from the Hellenic Statistical Authority, spanning 67 years from 1956 to 2022. The time trends of the mortality rates were evaluated using joinpoint regression analysis, and the annual percent changes (APC) and the overall average annual percent change (AAPC) were calculated with a 95% confidence interval (95% CI). The IMR exhibited accelerating declines over more than 50 years, with an APC of -1.9 (-2.8 to -1.0) from 1956 to 1968, -5.4 (-5.6 to -5.2) from 1968 to 1999, and -7.3 (-8.9 to -5.7) between 1999 and 2008. In 2008, IMR reached its all-time low of 2.7 per 1,000 live births, down 16.6-fold from its peak at 44.1 per 1,000 live births in 1957. This improving trend was reversed following the onset of the economic crisis in the country, leading to a 57% increase in IMR from 2008 to 2016, with an upward trend APC of 3.4 (1.2 to 5.5). In the recent period 2016-2022, there was an improvement with an APC of -3.7 (-6.2 to -1.1), resulting in an IMR of 3.1 per 1,000 live births in 2022. The decrease in IMR was estimated to have prevented 209,109 infant deaths in the country from 1958 to 2022. From 1956 to 2022, the IMR decreased with an AAPC of -3.9 (-4.3 to -3.4), while the PNMR saw a decline with an AAPC of -4.5 (-5.1 to -3.9) and the NMR with an AAPC of -3.2 (-3.7 to -2.6). Greece achieved an impressive decrease in infant mortality rates, but this progress was halted and completely reversed during the economic crisis. Although there have been some recent improvements after the country's economic recovery, the rates have yet to reach pre-crisis levels.

Life values in different age groups before and after global health crisis: A comparison of two German representative cohorts in 2018 and 2022

Basic life values are known to be stable over a lifetime and are predictive of a wide range of attitudes and behaviors. However, they may fluctuate in response to environmental changes or challenges. This study, conducted in two large representative cohorts, aimed to investigate whether basic life values across different age groups remained consistent before and after the COVID-19 pandemic. Two large representative cohorts from the German general population were surveyed about their basic life values using the Short Schwartz Values Scale in 2018 (N = 2412) and 2022 (N = 2499). A comparison was made across age groups and time points (pre- and post-pandemic) using multivariate analysis of variance (MANOVA). Our findings revealed a slight discrepancy in values post-global health crisis compared to pre-crisis levels, with lower scores observed for achievement and benevolence and higher scores for hedonism and self-direction following the crisis. However, benevolence, universalism, stability, and self-direction maintained high mean scores across both time points. Younger individuals were more oriented toward hedonism and self-direction than older individuals. Differences in values between age groups were evident (partial eta2: 0.004&amp;ndash;0.110), whereas differences before and after the pandemic were minor (partial eta2 &lt;0.004). Basic life values, as observed on a societal level, did not change significantly despite a short-term external stressor such as a pandemic. In conclusion, patients&amp;rsquo; individual life values should be considered in psychosomatic counseling and treatment, as these values impact health behavior and may lead to mental health problems, such as embitterment, when compromised.

Examining the dynamics of risk, performance, and volatility during COVID-19: Evidence from Moroccan stock market

This study delves into the repercussions of the COVID-19 pandemic on the Moroccan stock market, with a specific focus on the MASI index and sectoral indices. The examination en-compasses distinct pre-COVID and during-COVID periods, shedding light on the market’s evolution, marked by unique phases and fluctuations. Notably, the MASI index experienced a significant downturn in March 2020, indicative of the pandemic’s disruptive impact on investor behavior. Despite this setback, the market showcased remarkable resilience, staging a swift recovery and surpassing pre-crisis levels by the close of 2020. This rebound can be attributed to various factors, including historically low bond yields, the initiation of vaccination campaigns, and the resumption of dividend payouts by the banking sector. Our findings bring forth a nuanced understanding of performance and risk dynamics across individual sectors. Moreover, there is a noteworthy surge in correlations between sectoral returns during the COVID-19 period, limiting diversification options for investors and exposing them to heightened risks. The volatility patterns, analyzed using GARCH models, underscore the dynamic nature of the MASI index, exhibiting stability in the pre-pandemic phase and a transient disturbance during the initial pandemic shock. This study contributes to the existing body of literature on the global financial impact of COVID-19, providing valuable insights into the Moroccan context. The results emphasize the significance of comprehending sector-specific vulnerabilities and market dynamics for both investors and policymakers. In navigating the uncertainties of the post-pandemic era, these insights offer crucial perspectives for market participants to make informed decisions and adapt optimal strategies.

Self-restraint behavior and partisanship during the COVID-19 pandemic: evidence from a list experiment in Japan

Abstract During the COVID-19 pandemic, lockdowns were considered a critical measure to control the spread of the virus. While Europe and the United States implemented strict lockdowns that restricted movement, Japan adopted a soft lockdown approach which relied on voluntary compliance without any legal enforcement. As a result, some citizens (especially young people) did not comply with the government’s request for voluntary restraint, and were frequently criticized in the media. To address the question of who did not comply with the government’s soft lockdown and why, this study analyzes a list experiment which measured participation in non-essential activities during Japan’s third COVID-19 wave, when economic stimulus policies and COVID-19 suppression measures were simultaneously implemented. The results showed that in particular young citizens who strongly disliked the ruling party did not comply with the government’s requests to stay at home. It is suggested that during a national crisis, the success of policies based on voluntary cooperation depends on citizens’ pre-crisis levels of trust in the government and the ruling parties.

The Greek crisis as a “morality tale”? An empirical assessment

Credit and debt are more than just material exchanges within a market economy, they are also social constructs embedded in moral judgments about the character of the agents involved. During the recent European Sovereign Bond crisis, some commentators noted how a similarly loaded moral media discourse juxtaposed “virtuous” Northern European countries on the one side, and “spendthrift, lazy” Southern European ones on the other side. In this article, I provide a quantitative large-N empirical assessment of this phenomenon. I employ a dictionary-based approach inspired by research in social psychology to measure moral content. Upon analyzing more than 14,000 articles published in the Anglo-American and German financial press between 2004 and 2019, I show the extent to which Greece was described in negative moral language. After the initial “shock” in the fall of 2009, the average moral tone turns negative, and more so in the German financial press relative to its Anglo-American counterpart. Moreover, by most measures, it never completely reverts to pre-crisis levels, thus suggesting how “sticky” economic narratives can become. Against the original expectations, though, there is no evidence that the financial press framed the last and most acute phase of the Greek crisis in 2015 in increasingly moral terms.

The Dynamics of Inequality and Mobility: A Panel Data Analysis of the Spanish Income Tax

AbstractObjectiveThis article aims to analyze the evolution of income inequality and mobility in Spain during the period 1999–2011 by exploiting data from personal income tax returns.MethodsTo assess the evolution of inequality over the period analyzed, we have used some of the many metrics developed for this purpose, each of which offers a different approach depending on the segment of the income distribution they focus on (Gini coefficient, income shares, generalized entropy index, and the Atkinson class of measures).ResultsOur results suggest that, after a period of slightly declining income inequality, Spain experienced a rise in inequality in the years immediately preceding the Great Recession, before falling back to precrisis levels. With regard to income mobility, during this period, it was more common for individuals in the middle of the distribution to experience changes, while those at the top and bottom maintained a more stable position.ConclusionsThe economic boom of the late 1990s and early 2000s, as well as the Great Recession, had a significant impact on income inequality and mobility.

A Study of Global Trade War and Its Impact on Indian Economy

A Study of Global Trade War and Its Impact on Indian Economy

Are protective measures against Covid-19 still active in orthodontic practices? A cross-sectional online survey of French orthodontists three years on from the pandemic.

The Covid-19 epidemic has imposed profound changes on the practice of orthodontics. It was in this anxiety-inducing context that drastic measures were imposed on orthodontists. The main aim of this online survey is to highlight the measures that are still in place in French orthodontic practices three years after the emergence of the pandemic. A cross-sectional online survey was distributed to French orthodontists from march to June 2023. The questionnaire, consisting of 32 questions, was divided into five sections covering habits before and after the pandemic, and the feelings of professionals. In this survey 230 complete answers were recorded. Three years later, the daily pace had returned to its pre-crisis level. Disinfection and aeration times were still present (p < 0.001). Orthodontists maintained and generalized the use of protective glasses (p = 0.17) and visors (p < 0.001). The same was true for the FFP2 mask and its frequency of change, as well as rigorous hand washing. Finally, the dedicated layout of the practices was maintained: protective screen, filtration system, supply of SHA, travel paths, removal of magazines (for all, p < 0.001). This study shows that the professional practices imposed by the Covid-19 crisis have been adopted by the majority of French orthodontists, and now appear to be anchored in their routine practice. opinion n°2023-004, dated 01.25.2023.

МІЖНАРОДНІ ФІНАНСОВІ ПОТОКИ В КРАЇНИ ЦЕНТРАЛЬНОЇ ТА СХІДНОЇ ЄВРОПИ ПІСЛЯ ГЛОБАЛЬНОЇ ФІНАНСОВОЇ КРИЗИ 2008 РОКУ: СТРУКТУРНІ ОСОБЛИВОСТІ

In our study, we will focus on determining the dynamics and structural changes in the flows of foreign capital to the countries of Central and Eastern Europe after the global financial crisis of 2008. For the analysis, we selected a group of Central and Eastern European countries that joined the European Union: Bulgaria, Romania, Poland, Hungary, the Czech Republic, Slovakia, Slovenia, Estonia, Lithuania, Latvia, as well as the post-Soviet European countries - Ukraine, Belarus, Russia and Moldova. We chose three periods for the study: the first period from the beginning of liberal reforms to the present (1991-2021); the second period from macroeconomic stabilization to the global financial crisis (1994-2008); the third period covers the post-crisis period before the start of the Russian-Ukrainian war (2009-2021). The article examines the structure of the inflow of foreign capital to the countries of Central and Eastern Europe before the global financial crisis of 2008 and in the period after it. It was determined that the share of direct and portfolio foreign investments in the structure of foreign capital increased significantly in the post-crisis period. In the post-crisis period of 2009-2021, there was a significant increase in the average value of the stock of foreign direct investment to 41.2% of GDP and a more than two-fold decrease in the volatility of FDI inflows, which amounted to 5.2, as well as a 1.5-fold increase in portfolio foreign investments and a drastic reduction in the volatility of this type of foreign capital to 2.69. As for other investments, they remained at the pre-crisis level, but volatility decreased by a quarter. An econometric study of the influence of the stock of foreign direct investment and foreign debt per worker on the level of economic well-being in the CEE countries was conducted, which proved the strengthening of the role of foreign direct investment after the global financial crisis and the lack of influence of foreign debt. In our opinion, the governments of the CEE countries have focused on the economic policy of slowing down foreign capital flows and avoiding financial risks associated with foreign debt flows. Today's geopolitical tensions, the Russian-Ukrainian war will contribute to the deepening of these processes, increasing the influence of states on limiting international financial flows.

How the 2008 financial crisis affected the Spanish economy due to household income

&lt;p&gt;Economic crises do not affect all households in the same way; therefore, it is crucial to analyze the differences in their impact based on household income. The last economic crisis, the financial crisis of 2008, lasted until 2013 in Spain; however, economic recovery was not considered to have been effectively achieved until 2016, when economic performance exceeded the pre-crisis level. Economic recovery was not reflected in households in the same way because of household income inequalities. This study identified the different effects of an economic crisis on households and economic sectors through a multisectoral model by analyzing the consumption behaviors of households according to monthly income after the crisis. A simulation was carried out based on consumption data for 2015, which identified the production sectors that suffered the greatest losses because of a crisis-induced decrease in household consumption spending. The results reveal that the decrease in low-income household consumption mainly affected accommodation and food services, manufactured products, wholesale and retail trade services, and activity generated by households as employers of domestic workers.&lt;/p&gt;

АНАЛІЗ ФІНАНСОВОЇ ЕФЕКТИВНОСТІ СВІТОВОЇ АВІАЦІЙНОЇ ІНДУСТРІЇ

The article examines the financial aspects of the global aviation industry, which is gradually recovering from the impact of COVID-19. It also examines the impact of economic instability on passenger traffic and airlines' strategies for adapting to new market conditions. The role of government programmes and financial support in the recovery of the aviation industry and ways to optimise these measures are analysed. Estimates suggest that in 2023, passenger kilometres (RPK) will reach only 94.1% of the previous pre-crisis level. Air traffic volumes have already exceeded 2019 levels and are expected to remain high, supported by strong global trade. The industry's net losses are projected to decrease, turning into a net profit of $23.3 billion by early 2024. Airlines cut costs by 31% in 2021 compared to 2019, but as passenger traffic increases, they are facing rising costs again. Since 2019, global governments have spent $243 billion to support airlines. Strong demand for air travel continued to drive the market recovery in 2023, with growth of 36.9% year-on-year. Traffic reached 94.1% of the 2019 level. Seat supply slightly exceeded demand, resulting in a load factor of 82.3%. Different regions are experiencing the recovery in different ways. North America is showing the fastest recovery, with regional traffic growing and intercontinental routes resuming. Europe is recovering moderately, while Asia-Pacific, particularly China, is showing stable demand. The Middle East is facing obstacles due to limited domestic markets, making it difficult to fully recover. Latin America and Africa are facing internal challenges such as airline restructuring and slow passenger growth. While the industry continues to make progress, it is forecast that a full recovery to pre-pandemic levels may not be achieved until 2024. In addition to financial and operational challenges, airlines are focusing on sustainability initiatives. The transition to more fuel-efficient aircraft, investments in sustainable aviation fuel (SAF), and efforts to reduce carbon emissions are central to the industry's recovery. Governments and stakeholders are collaborating to meet climate targets, including net-zero emissions by 2050.

The U.S. labor market: trends and challenges

The U.S. labor market quickly overcame the effects of the pandemic and 2020 recession. The unemployment rate has returned to its low pre-crisis levels, and the number of vacancies is almost twice the number of the unemployed. The key feature of the U.S. labor market is labor shortage in almost all industries and among all categories of workers. The shock of the pandemic recession accelerated some imminent processes, which led to long-term structural changes. This includes a decrease in labor force participation rate, mainly as a result of large-scale excess retirements, and an increase in telework. The favorable situation in the labor market enables the Fed to conduct tight monetary policy.

Blood Shortage Monitoring: Comparison of the Supply Situation During the Omicron Surge and at the Tail End of the COVID-19 Pandemic this Year

Abstract Introduction/Objective The COVID-19 pandemic was marked by the first-ever declaration of a severe blood crisis by the American Red Cross in 2022. During this blood crisis, the, there were significant shortages of blood products that required precise monitoring of the current stock for communication and collaboration with the clinical team to ensure uninterrupted patient care. The blood supply gradually improved since 2022’s blood crisis, particularly as the public health emergency related to COVID-19 ended on May 11th, 2023. However, published literature on the comparison of the blood supply in the last calendar months of the public health emergency versus during the blood shortage is sparse. Methods/Case Report From January 28th, 2022, to February 28th, 2022, the amount of red blood cell (RBC) inventory was noted along with the percentage reduction from usual pre-crisis inventory level. This inventory information was communicated with the clinical services to coordinate clinical care during the blood supply crisis. Additionally, a separate inventory comparison to cover the last 5 calendar months (including May) until the end of the Public Health Emergency on May 11th, 2023, was performed from January 1st, 2023, to May 11th, 2023. Results (if a Case Study enter NA) During the crisis from January 28th, 2022, to February 28th, 2022, there were significant reductions in red blood cell inventory (up to 67% reduction in O+ units and 75% for A+ units). Collaboration with the clinical team and efforts to procure and conserve blood products enabled continuity of clinical care. On the other hand, there was documented improvement in the blood inventory at the tail end of the pandemic (January 1st, 2023, to May 11th, 2023) with average inventory reductions of only 19% in O+ units and 43% in A+ units. Conclusion There was a significant blood shortage during the Omicron surge of 2022 that required inventory monitoring, collaboration with the clinical team, and efforts to procure and conserve blood products to ensure continued successful clinical care. As the pandemic’s public health emergency neared its end, the blood supply situation has been improving substantially.

Energy justice in times of crisis: protection of consumers and market-based renewable energy investments

ABSTRACT In response to the 2022 energy crisis, caused by the disruption of Russian gas supplies to Europe, the European Union (EU) emphasized the importance of accelerating the deployment of renewable energy to ensure supply security and lower energy prices. Paradoxically, renewable energy investments were also one of the main targets of the EU efforts to contain the hardship of the crisis. Based on the reasoning that investors in wind and solar energy received profits that by far exceeded pre-crisis levels, the EU capped their ‘surplus revenues’ and initially proposed to decouple electricity from gas prices. These initiatives were justified based on considerations of distributive energy justice. Yet, by interfering with revenues and the electricity market structure, the EU signalled to renewable energy investors the risk of regulatory intervention with the market basis governing their investments. Building on the arbitral practice on renewable energy and electricity regulation, this article examines the international protection of market-based renewable energy investments and critically reflects on how investment protection affects states’ right to ensure energy justice in times of crisis.

Residential demand response and dynamic electricity contracts with hourly prices: A study of Norwegian households during the 2021/22 energy crisis

Price-responsive demand and dynamic electricity price contracts can play a vital role in balancing renewable energy production and alleviating energy shortages such as those experienced in the European energy crisis. This study focuses on the implicit demand flexibility of residential consumers during extraordinarily high electricity prices in winter 2021/22 in Norway where most households have electric heating and spot price contracts. An econometric model is developed that compares the demand with pre-crisis levels, adjusts for factors influencing electricity consumption, such as outdoor temperature, and utilises a comprehensive dataset including hourly electricity demand data. The results reveal a quick response since the price signal was passed immediately to the customers and substantial energy savings of 11.4 % during winter. While the average household showed no significant short-term price response to daily or hourly price variations, several subgroups did. Particularly, households actively monitoring hourly prices via real-time information channels and those with automatic smart charging of electric cars showed higher load reductions in peak price hours and load shifting to low-price hours. Thus, the study concludes that households are able to respond to variable hourly electricity prices and suggests the promotion of spot price contracts to incentivise residential demand response.

Long-Run Labor Costs of Housing Booms and Busts

Abstract We show large flows of workers into the real estate agent (REA) occupation during the early 2000s from virtually all parts of the skill, wage, and education spectrums. We find those entering REA in Metropolitan Statistical Areas (MSAs) with house price bubbles end up in occupations paying significantly less in the long-run as compared to similar REA entrants in non-bubble areas. Even in 2017, when house prices and employment return to their pre-crisis levels, REA entrants in Bubble MSAs are in occupations earning about 6% less. These results point to lasting effects of labor allocation decisions in response to distorted price signals.