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But in a region whose economy is in so many ways tied to the lakes, he said, there will also be large negative effects: the region's billion-dollar water recreation industry is likely to be hit hard, as many marinas no longer have enough water to hold boats.
Two separate studies based on past recessions found large, negative effects on wages for people who graduated from college in a bad economy, which persist for as long as two decades.
While some correlational studies have found a positive relationship between on-campus employment and academic outcomes, one particularly rigorous quasi-experimental study found large negative effects of student employment on grade point averages.
By the same logic, the $600 billion of revenue increases and spending cuts scheduled for next year — the so-called fiscal cliff — would have large negative effects on demand, output and employment and would reduce future potential output as well.
In particular, my hard-line views on policy in the current crisis — it's a demand problem not a structural problem, there is no risk of crowding out, there is no risk of inflation from aggressive monetary expansion, there are large negative effects from austerity — aren't simplifications of some more complex story, they are what my basic model and the lessons of history teach.
Furthermore, across all content areas no large negative effects were seen.
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The paper finds a large negative effect of spending cuts under such circumstances, a much smaller effect of tax hikes.
"Although we cannot say with certainty why surge has such a large, negative effect on demand, one possibility is that customers have learned that surges tend to have short duration, and thus they choose to wait for 5 minutes before requesting a ride," the researchers wrote.
Interesting is the large negative effect of attending vocational types of education.
For Biodyvin wines, there is a large negative effect of added SO2 (Table 9).
We conclude that these positive effects were due to the large negative effect of dwarf bamboo on the seedlings.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com