Subscribe to Wheeler Institute for Business and Development YouTube channel ➤ Professor Paolo Surico, Professor of Economics at London Business School, outlines his research that shows us how the poorest households are at most risk because they are more leveraged, have little or no savings and are more likely to experience redundancy during the crisis. Paolo’s research on real-time indicators for the UK economy shows that the top 25% of the income distribution accounts for about 46% of the decline in aggregate consumption during the crisis as high earners have cut their non-essential spending, driving the drop in aggregate demand. The hope is Paolo’s evidence will guide government policy – after all, why should it be harder to secure a rent holiday than a mortgage holiday? This presentation was extracted from the webinar “UK debt before and after the crisis” •UKdebtbeforeandafterthecrisis|Lond... and is part of the Wheeler Institute series: •WheelerInstituteCOVID-19series|London... To
