Date of Award
Bachelor of Arts
Public Policy and Law
Recessionary periods can seldom be avoided, but our modern public infrastructure has designed mechanisms to respond to these downturns. Economic policy has rapidly changed over the last 50 years, and the types of tools policymakers use have evolved with it. When looking at the Great Recession (2007-2009) and the COVID-19 recession (2020), a federal response structure was vital for the health of the macroeconomy. These recessionary periods serve as case studies for a review of economic policymaking activity in the United States since 2000. To examine the efficacy of the federal government’s fiscal and monetary infrastructure, policies focused on supporting student loan borrowers along with policies aimed at homeowners and renters have been identified and reviewed. Government policies supporting student loan borrowers after the Great Recession expired too soon following their implementation. This front-loaded support only worsened the economic position of borrowers during the 2010s. A more thorough policy response during the pandemic has provided relief to student loan borrowers for the duration of the crisis. The housing sector suffered considerably in both recessions. The policy response to the pandemic was considerably well-tailored to meet the needs of homeowners but was less successful in meeting the needs of renters. Still, most households had a more difficult time after the Great Recession because policies were not sufficiently implemented to disburse stimulus in the appropriate timeframe. Policymakers actively avoid missteps from the Great Recession response, enhancing the overall policy results of fiscal and monetary measures enacted during the pandemic.
Recck, Connor, "Recessionary Woes: Examining Economic Policies and Their Impact on Student Loan Debt and Housing Stability in the United States". Senior Theses, Trinity College, Hartford, CT 2023.
Trinity College Digital Repository, https://digitalrepository.trincoll.edu/theses/1020
Banking and Finance Law Commons, Economic Policy Commons, Economic Theory Commons, Education Policy Commons, Finance Commons, Housing Law Commons, Legislation Commons, Macroeconomics Commons, Public Economics Commons, Public Policy Commons, Social Welfare Law Commons