Local governments are facing large losses in revenues and increased expenditures because of the COVID-19 crisis. We document a causal relationship between fiscal pressures induced by COVID-19 and the layoffs of state and local government workers. States that depend more on sales tax as a source...

It has been demonstrated that innovative business models designed to serve the population at the "base of the pyramid" are an effective means to create employment and improve quality of life. However, the effect that various levels of poverty have on the viability of these business models is not...