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The Reagan Question: Are You Better Off Now Than You Were Eight Years Ago?

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Author Info
John Schmitt
Hye Jin Rho

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Abstract

This paper updates Ronald Reagan's famous question during the 1980 presidential election: "Are you better off now than you were four years ago?" by comparing the state of the economy in 2000 and 2008. We use 25 indicators of economic well-being and economic performance and find that 23 of the 25 indicators are worse in 2008 than they were in 2000. Even after we limit comparisons to similar points across the business cycle, the same 23 indicators were worse at the most recent business-cycle peak (2007) than they were in 2000.

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Publisher Info
Paper provided by Center for Economic and Policy Research (CEPR) in its series CEPR Reports and Issue Briefs with number 2008-27.

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Length: 16 pages
Date of creation: Oct 2008
Date of revision:
Handle: RePEc:epo:papers:2008-27

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Related research
Keywords: recession; business cycle;

Find related papers by JEL classification:
E - Macroeconomics and Monetary Economics
E2 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Barry T. Hirsch & Edward J. Schumacher, 2004. "Match Bias in Wage Gap Estimates Due to Earnings Imputation," Journal of Labor Economics, University of Chicago Press, vol. 22(3), pages 689-722, July. [Downloadable!]
    Other versions:
  2. John Schmitt, 2008. "The Union Wage Advantage for Low-Wage Workers," CEPR Reports and Issue Briefs 2008-17, Center for Economic and Policy Research (CEPR). [Downloadable!]
  3. John Schmitt & Ben Zipperer, 2008. "The Decline in African-American Representation in Unions and Manufacturing, 1979-2007," CEPR Reports and Issue Briefs 2008-06, Center for Economic and Policy Research (CEPR). [Downloadable!]
    Other versions:
  4. David G. Blanchflower & Alex Bryson, 2004. "What Effect Do Unions Have on Wages Now and Would Freeman and Medoff Be Surprised?," Journal of Labor Research, Transaction Publishers, vol. 25(3), pages 383-414, July. [Downloadable!] (restricted)
  5. Heather Boushey & Shawn Fremstad & Rachel Gragg & Margy Waller, 2007. "Understanding Low-Wage Work in the United States," CEPR Reports and Issue Briefs 2007-09, Center for Economic and Policy Research (CEPR). [Downloadable!]
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This page was last updated on 2009-11-14.

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