Rutgers Economist Available to Discuss Statewide Revenue Predictions for New Jersey

New Brunswick, N.J. (June 17, 2020) – Rutgers economist Bruce Mizrach is available to comment on a new Rutgers working paper that predicts a June 2020 tax revenue of $1.637 billion in New Jersey, a 5.18% increase compared to the levels in June 2019.

 Mizrach said: “We can predict more than 75% of the change in year-over-year monthly tax revenue for New Jersey using three variables: the change in the number of locations reporting employee scheduling data to Homebase, a provider of software to help run small businesses, the number of monthly COVID-19 cases, and Google data on the mobility of cell phone users. The model is currently forecasting a strong V-shaped recovery in statewide tax revenue, for June despite the restrictions.”

 “Our findings show that the progression of COVID-19 cases is fundamental to the state’s economic recovery,” Mizrach continued. “Alternative data sources like location data from cell phones and payment data from cell phone apps can provide a real-time portrait of economic activity even when the economy is facing unusual challenges.”

To view the full report, click here.

Mizrach is a professor in the department of economics at Rutgers-New Brunswick. He is the founder and editor of Studies in Nonlinear Dynamics and Econometrics, which uses nonlinear analysis to understand economic and financial markets.

For interviews, contact: Megan Schumann, [email protected], 848-445-1907

###

Broadcast interviews: Rutgers University–New Brunswick has broadcast-quality TV and radio studios available for remote live or taped interviews with Rutgers experts. For more information, contact Neal Buccino [email protected]

ABOUT RUTGERS—NEW BRUNSWICK

Rutgers University–New Brunswick is where Rutgers, the State University of New Jersey, began more than 250 years ago. Ranked among the world’s top 60 universities, Rutgers’s flagship university is a leading public research institution and a member of the prestigious Association of American Universities. It is home to internationally acclaimed faculty and has 12 degree-granting schools and a Division I Athletics program. It is the Big Ten Conference’s most diverse university. Through its community of teachers, scholars, artists, scientists, and healers, Rutgers is equipped as never before to transform lives.

Original post https://alertarticles.info

withyou android app