Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

Labour Markets During the COVID-19 Crisis: A Preliminary View

Olivier COIBION, Yuriy GORODNICHENKO, Michael WEBER
We use a repeated large-scale survey of households in the Nielsen Homescan panel to characterize how labor markets are being affected by the covid-19 pandemic. We document several facts. First, job loss has been significantly larger than implied by new unemployment claims: we estimate 20 million los...
Keywords: Labor market, unemployment, Employment, covid-19.
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Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

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May 2020

Post-Lockdown Economic Recovery in China

Qin CHEN, Zhiguo HE, Chang-Tai HSIEH, Zheng Michael SONG
The Chinese government ended the 76-day lockdown of Wuhan on April 8. Outside Wuhan, many local governments had already eased restrictions on movement and shifted their focus to reviving the economy. This letter documents several facts of the post-lockdown economic recovery in China. The main findin...
Keywords: COVID-19, Pandemic, Post-Lockdown, economic recovery, China
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Commentaries

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2020, Pandemic

Post-Lockdown Economic Recovery in China

Qin CHEN, Zhiguo HE, Chang-Tai HSIEH, Zheng Michael SONG
The Chinese government ended the 76-day lockdown of Wuhan on April 8. Outside Wuhan, many local governments had already eased restrictions on movement and shifted their focus to reviving the economy. This letter documents several facts of the post-lockdown economic recovery in China. The main findin...
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Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

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May 2020

Firm-Level Exposure to Epidemic Diseases: COVID-19, SARS, and H1N1

Tarek A. HASSAN, Laurence VAN LENT, Stephan HOLLANDER, Ahmed TAHOUN
We construct text-based measures of the primary concerns listed firms associate with the spread of COVID-19 and other epidemic diseases. We identify which firms expect to lose or gain from a given epidemic, and textually decompose the epidemic’s effect on the firm’s demand and supply. We find th...
Keywords: Epidemic diseases, Pandemic, firms, uncertainty, sentiment, Computational linguistics
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Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

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May 2020

COVID-19 Infection Externalities: Trading Off Lives vs. Livelihoods

Anton KORINEK, Zachary BETHUNE
We analyze the externalities that arise when social and economic interactions transmit infectious diseases such as COVID-19. Individually rational agents do not internalize that they impose infection externalities upon. In an SIR model calibrated to capture the main features of COVID-19 in the US ec...
Keywords: cost of disease, COVID-19, infection externalities, Social Distancing
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