The Economic Ripple Effects of COVID-19:
What are the effects of a large temporary shock to the economy such as a temporary lockdown in response to a pandemic? Are the effects propagated and made persistent by firms' deteriorating balance sheets and labor market frictions? This paper develops a model with financial market and labor ma...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
2021
|
| Online-Zugang: | Volltext |
| Zusammenfassung: | What are the effects of a large temporary shock to the economy such as a temporary lockdown in response to a pandemic? Are the effects propagated and made persistent by firms' deteriorating balance sheets and labor market frictions? This paper develops a model with financial market and labor market frictions to answer these questions. The model makes quantitative predictions about the effect on output, employment and firm dynamics from lockdowns of varying magnitude and duration. It finds that the effects are not persistent despite the deterioration of the financial soundness of non-essential firms and labor market frictions, if (i) laid-off workers can be recalled by their previous employers without having to go through the frictional labor market and (ii) the government provides employment subsidies to firms during lockdown. However, the effect are heterogeneous and young non-essential firms are disproportionately affected. In addition, if lockdowns lead to more permanent reallocation across industries, the recession becomes more protracted |
| Beschreibung: | 1 Online-Ressource (42 Seiten) |
| DOI: | 10.1596/1813-9450-9631 |
Internformat
MARC
| LEADER | 00000nmm a22000001c 4500 | ||
|---|---|---|---|
| 001 | BV049081836 | ||
| 003 | DE-604 | ||
| 007 | cr|uuu---uuuuu | ||
| 008 | 230731s2021 xxu|||| o||u| ||||||eng d | ||
| 024 | 7 | |a 10.1596/1813-9450-9631 |2 doi | |
| 035 | |a (ZDB-1-WBA)063324601 | ||
| 035 | |a (OCoLC)1392150762 | ||
| 035 | |a (DE-599)KEP063324601 | ||
| 040 | |a DE-604 |b ger |e rda | ||
| 041 | 0 | |a eng | |
| 044 | |a xxu |c XD-US | ||
| 049 | |a DE-12 |a DE-521 |a DE-573 |a DE-523 |a DE-Re13 |a DE-19 |a DE-355 |a DE-703 |a DE-91 |a DE-706 |a DE-29 |a DE-M347 |a DE-473 |a DE-824 |a DE-20 |a DE-739 |a DE-1043 |a DE-863 |a DE-862 | ||
| 100 | 1 | |a Buera, Francisco J. |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a The Economic Ripple Effects of COVID-19 |c Francisco J. Buera |
| 264 | 1 | |a Washington, D.C |b The World Bank |c 2021 | |
| 300 | |a 1 Online-Ressource (42 Seiten) | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b c |2 rdamedia | ||
| 338 | |b cr |2 rdacarrier | ||
| 520 | 3 | |a What are the effects of a large temporary shock to the economy such as a temporary lockdown in response to a pandemic? Are the effects propagated and made persistent by firms' deteriorating balance sheets and labor market frictions? This paper develops a model with financial market and labor market frictions to answer these questions. The model makes quantitative predictions about the effect on output, employment and firm dynamics from lockdowns of varying magnitude and duration. It finds that the effects are not persistent despite the deterioration of the financial soundness of non-essential firms and labor market frictions, if (i) laid-off workers can be recalled by their previous employers without having to go through the frictional labor market and (ii) the government provides employment subsidies to firms during lockdown. However, the effect are heterogeneous and young non-essential firms are disproportionately affected. In addition, if lockdowns lead to more permanent reallocation across industries, the recession becomes more protracted | |
| 700 | 1 | |a Fattal Jaef, Roberto N. |e Sonstige |4 oth | |
| 700 | 1 | |a Hopenhayn, Hugo |e Sonstige |4 oth | |
| 700 | 1 | |a Neumeyer, P. Andres |e Sonstige |4 oth | |
| 700 | 1 | |a Shin, Yongseok |e Sonstige |4 oth | |
| 856 | 4 | 0 | |u https://doi.org/10.1596/1813-9450-9631 |x Verlag |z kostenfrei |3 Volltext |
| 912 | |a ZDB-1-WBA | ||
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-034343727 | |
Datensatz im Suchindex
| _version_ | 1812671855048261632 |
|---|---|
| adam_text | |
| adam_txt | |
| any_adam_object | |
| any_adam_object_boolean | |
| author | Buera, Francisco J. |
| author_facet | Buera, Francisco J. |
| author_role | aut |
| author_sort | Buera, Francisco J. |
| author_variant | f j b fj fjb |
| building | Verbundindex |
| bvnumber | BV049081836 |
| collection | ZDB-1-WBA |
| ctrlnum | (ZDB-1-WBA)063324601 (OCoLC)1392150762 (DE-599)KEP063324601 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| doi_str_mv | 10.1596/1813-9450-9631 |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>00000nmm a22000001c 4500</leader><controlfield tag="001">BV049081836</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">230731s2021 xxu|||| o||u| ||||||eng d</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1596/1813-9450-9631</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-1-WBA)063324601</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1392150762</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)KEP063324601</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rda</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="044" ind1=" " ind2=" "><subfield code="a">xxu</subfield><subfield code="c">XD-US</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-12</subfield><subfield code="a">DE-521</subfield><subfield code="a">DE-573</subfield><subfield code="a">DE-523</subfield><subfield code="a">DE-Re13</subfield><subfield code="a">DE-19</subfield><subfield code="a">DE-355</subfield><subfield code="a">DE-703</subfield><subfield code="a">DE-91</subfield><subfield code="a">DE-706</subfield><subfield code="a">DE-29</subfield><subfield code="a">DE-M347</subfield><subfield code="a">DE-473</subfield><subfield code="a">DE-824</subfield><subfield code="a">DE-20</subfield><subfield code="a">DE-739</subfield><subfield code="a">DE-1043</subfield><subfield code="a">DE-863</subfield><subfield code="a">DE-862</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Buera, Francisco J.</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">The Economic Ripple Effects of COVID-19</subfield><subfield code="c">Francisco J. Buera</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Washington, D.C</subfield><subfield code="b">The World Bank</subfield><subfield code="c">2021</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (42 Seiten)</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="520" ind1="3" ind2=" "><subfield code="a">What are the effects of a large temporary shock to the economy such as a temporary lockdown in response to a pandemic? Are the effects propagated and made persistent by firms' deteriorating balance sheets and labor market frictions? This paper develops a model with financial market and labor market frictions to answer these questions. The model makes quantitative predictions about the effect on output, employment and firm dynamics from lockdowns of varying magnitude and duration. It finds that the effects are not persistent despite the deterioration of the financial soundness of non-essential firms and labor market frictions, if (i) laid-off workers can be recalled by their previous employers without having to go through the frictional labor market and (ii) the government provides employment subsidies to firms during lockdown. However, the effect are heterogeneous and young non-essential firms are disproportionately affected. In addition, if lockdowns lead to more permanent reallocation across industries, the recession becomes more protracted</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Fattal Jaef, Roberto N.</subfield><subfield code="e">Sonstige</subfield><subfield code="4">oth</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Hopenhayn, Hugo</subfield><subfield code="e">Sonstige</subfield><subfield code="4">oth</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Neumeyer, P. Andres</subfield><subfield code="e">Sonstige</subfield><subfield code="4">oth</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Shin, Yongseok</subfield><subfield code="e">Sonstige</subfield><subfield code="4">oth</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">https://doi.org/10.1596/1813-9450-9631</subfield><subfield code="x">Verlag</subfield><subfield code="z">kostenfrei</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-1-WBA</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-034343727</subfield></datafield></record></collection> |
| id | DE-604.BV049081836 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T22:28:00Z |
| indexdate | 2024-10-12T04:03:12Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-034343727 |
| oclc_num | 1392150762 |
| open_access_boolean | 1 |
| owner | DE-12 DE-521 DE-573 DE-523 DE-Re13 DE-BY-UBR DE-19 DE-BY-UBM DE-355 DE-BY-UBR DE-703 DE-91 DE-BY-TUM DE-706 DE-29 DE-M347 DE-473 DE-BY-UBG DE-824 DE-20 DE-739 DE-1043 DE-863 DE-BY-FWS DE-862 DE-BY-FWS |
| owner_facet | DE-12 DE-521 DE-573 DE-523 DE-Re13 DE-BY-UBR DE-19 DE-BY-UBM DE-355 DE-BY-UBR DE-703 DE-91 DE-BY-TUM DE-706 DE-29 DE-M347 DE-473 DE-BY-UBG DE-824 DE-20 DE-739 DE-1043 DE-863 DE-BY-FWS DE-862 DE-BY-FWS |
| physical | 1 Online-Ressource (42 Seiten) |
| psigel | ZDB-1-WBA |
| publishDate | 2021 |
| publishDateSearch | 2021 |
| publishDateSort | 2021 |
| publisher | The World Bank |
| record_format | marc |
| spellingShingle | Buera, Francisco J. The Economic Ripple Effects of COVID-19 |
| title | The Economic Ripple Effects of COVID-19 |
| title_auth | The Economic Ripple Effects of COVID-19 |
| title_exact_search | The Economic Ripple Effects of COVID-19 |
| title_exact_search_txtP | The Economic Ripple Effects of COVID-19 |
| title_full | The Economic Ripple Effects of COVID-19 Francisco J. Buera |
| title_fullStr | The Economic Ripple Effects of COVID-19 Francisco J. Buera |
| title_full_unstemmed | The Economic Ripple Effects of COVID-19 Francisco J. Buera |
| title_short | The Economic Ripple Effects of COVID-19 |
| title_sort | the economic ripple effects of covid 19 |
| url | https://doi.org/10.1596/1813-9450-9631 |
| work_keys_str_mv | AT buerafranciscoj theeconomicrippleeffectsofcovid19 AT fattaljaefroberton theeconomicrippleeffectsofcovid19 AT hopenhaynhugo theeconomicrippleeffectsofcovid19 AT neumeyerpandres theeconomicrippleeffectsofcovid19 AT shinyongseok theeconomicrippleeffectsofcovid19 |