The Unequal COVID Saving and Wealth Surge

Household saving increased sharply during the COVID-19 crisis in many countries. Lower consumption, both as a result of lockdowns or precaution, combined with an increase in disposable income from government transfers allowed households to put more money into their bank accounts, buy shares, a house, or pay back their debt. Along with saving, surging equity and housing prices also made certain households a lot wealthier. In our latest chart of the week, an analysis of US data as part of our recent External Sector Report found the bulk of the increase in saving…

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Saving Mexico City’s Art Deco Treasures

The El Moro building, one of Mexico City’s Art Deco treasures, suffered significant damage during last year’s earthquake; the upper floors swayed several feet during the tremors. Photo by Paul Biasco Pin this image Facebook Share this image One year ago—September 19, 2017—a massive earthquake rattled Mexico City, toppling dozens of buildings and damaging thousands more. The neighborhoods of Condesa and La Roma, home to some of the most excellent examples of Art Deco architecture arguably anywhere in the world, were hit hardest. While many structures throughout the city, including historical buildings,…

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