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Author: Seonghoon Kim Publisher: ISBN: Category : Languages : en Pages :
Book Description
We examine the short-term impact of COVID-19 on consumption spending and labor market outcomes. Using monthly panel data of individuals mainly aged 50-70 in Singapore, we find that COVID-19 reduced consumption spending and labor market outcomes immediately after its outbreak, and its negative impact quickly evolved. At its peak, the pandemic reduced total household consumption spending by 22.8% and labor income by 5.9% in April. Probability of full-time work also went down by 1.2 pp and 6.0 pp in April and May, respectively, but employment and self-employment were only mildly affected. Our heterogeneity analysis indicates that the reduction in consumption spending was greater among those with higher net worth, while the decreases in labor market outcomes were greater among those with lower net worth. However, we find little evidence that those in worse health status experienced larger reductions in consumption spending and labor market outcomes. Reductions in consumption spending correlated with increased risk avoidance behavior, the nationwide partial lockdown, worsening economic outlook, and reduced income.
Author: Seonghoon Kim Publisher: ISBN: Category : Languages : en Pages :
Book Description
We examine the short-term impact of COVID-19 on consumption spending and labor market outcomes. Using monthly panel data of individuals mainly aged 50-70 in Singapore, we find that COVID-19 reduced consumption spending and labor market outcomes immediately after its outbreak, and its negative impact quickly evolved. At its peak, the pandemic reduced total household consumption spending by 22.8% and labor income by 5.9% in April. Probability of full-time work also went down by 1.2 pp and 6.0 pp in April and May, respectively, but employment and self-employment were only mildly affected. Our heterogeneity analysis indicates that the reduction in consumption spending was greater among those with higher net worth, while the decreases in labor market outcomes were greater among those with lower net worth. However, we find little evidence that those in worse health status experienced larger reductions in consumption spending and labor market outcomes. Reductions in consumption spending correlated with increased risk avoidance behavior, the nationwide partial lockdown, worsening economic outlook, and reduced income.
Author: Elissaios Papyrakis Publisher: Springer Nature ISBN: 3030823393 Category : Social Science Languages : en Pages : 184
Book Description
The current coronavirus pandemic fundamentally reshapes existing debates and processes in international development. The unprecedented (and rapidly evolving) crisis is generating a number of substantial challenges for developing economies. Governments in low-income nations often find it extremely hard to cope with the increased demand for health services, make prompt decisions and put them into action, protect vulnerable segments of society and offer immediate relief to affected economic sectors. This book provides a series of reflective chapters that demonstrate how several areas of international development have been severely affected by the Covid-19 outbreak. It provides an in-depth critical discussion on how the current pandemic influences several development outcomes (in the domains of poverty/inequality, health, education, migration, formal/informal employment, (de)globalisation, the extractive sector, climate change, water and the global financial system). Each chapter draws policy recommendations on relevant interventions that can alleviate the identified negative repercussions of the Covid-19 pandemic, especially for the most vulnerable communities in the Global South.
Author: Axel Börsch-Supan Publisher: Walter de Gruyter GmbH & Co KG ISBN: 311113590X Category : Business & Economics Languages : en Pages : 360
Book Description
The COVID-19 pandemic posed a major threat to the well-being of older Europeans. Its economic and social effects, however, varied across countries. This multidisciplinary book presents the first results of analyses that combined the renowned longitudinal database of SHARE with new data from two telephone surveys that were uniquely conducted during the pandemic. The analyses address important policy-related issues, such as: Did social distancing destabilize family and social support networks? Did the pandemic increase health, social and economic inequality? Who had to forego essential health care because of the pandemic? Did lockdown affect one's physical and mental health? Did the shift towards remote work affect workload and well-being? Were different housing conditions related to the spread of the virus?
Author: Louis-Philippe Béland Publisher: ISBN: Category : Languages : en Pages :
Book Description
In this ongoing project, we examine the short-term consequences of COVID-19 on employment and wages in the United States. Guided by a pre-analysis plan, we document the impact of COVID-19 at the national-level using a simple difference and test whether states with relatively more confirmed cases/deaths were more affected. Our findings suggest that COVID-19 increased the unemployment rate, decreased hours of work and labor force participation and had no significant impacts on wages. The negative impacts on labor market outcomes are larger for men, younger workers, Hispanics and less-educated workers. This suggest that COVID-19 increases labor market inequalities. We also investigate whether the economic consequences of this pandemic were larger for certain occupations. We built three indexes using ACS and O*NET data: workers relatively more exposed to disease, workers that work with proximity to coworkers and workers who can easily work remotely. Our estimates suggest that individuals in occupations working in proximity to others are more affected while occupations able to work remotely are less affected. We also find that occupations classifed as more exposed to disease are less affected, possibly due to the large number of essential workers in these occupations.
Author: Louis-Philippe Béland Publisher: ISBN: Category : Languages : en Pages :
Book Description
In this ongoing project, we examine the short-term consequences of COVID- 19 on employment and wages in the United States. Guided by a pre-analysis plan, we document the impact of COVID-19 at the national-level using a simple difference and test whether states with relatively more confirmed cases/deaths were more affected. Our findings suggest that COVID-19 increased the unemployment rate, decreased hours of work and labor force participation and had no significant impacts on wages. The negative impacts on labor market outcomes are larger for men, younger workers, Hispanics and less-educated workers. This suggest that COVID-19 increases labor market inequalities. We also investigate whether the economic consequences of this pandemic were larger for certain occupations. We built three indexes using ACS and O*NET data: workers relatively more exposed to disease, workers that work with proximity to coworkers and workers who can easily work remotely. Our estimates suggest that individuals in occupations working in proximity to others are more affected while occupations able to work remotely are less affected. We also find that occupations classified as more exposed to disease are less affected, possibly due to the large number of essential workers in these occupations.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1513571648 Category : Business & Economics Languages : en Pages : 36
Book Description
We document the short-term impact of the COVID-19 pandemic on the Brazilian labor market focusing on employment, wages and hours worked using the nationally representative household surveys PNAD-Continua and PNAD COVID. Sectors most susceptible to the shock because they are more contact-intensive and less teleworkable, such as construction, domestic services and hospitality, suffered large job losses and reductions in hours. Given low income workers experienced the largest decline in earnings, extreme poverty and the Gini coefficient based on labor income increased by around 9.2 and 5 percentage points, respectively, due to the immediate shock. The government’s broad based, temporary Emergency Aid transfer program more than offset the labor income losses for the bottom four deciles, however, such that poverty relative to the pre-COVID baseline fell. At a cost of around 4 percent of GDP in 2020 such support is not fiscally sustainable beyond the short-term and ended in late 2020. The challenge will be to avoid a sharp increase in poverty and inequality if the labor market does not pick up sufficiently fast in 2021.
Author: Stefani Milovanska-Farrington Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
With more than 29 million confirmed cases of Covid-19 in the U.S. and 119 million cases worldwide, the pandemic has affected companies, households and the global economy. We explore the effect of this health and economic shock on labor market outcomes, and the changes in labor market disparities between ethnic groups and genders. The results provide evidence of an adverse effect of Covid-19 on labor market outcomes of all demographic groups, a widening gap between the employment prospects of minorities and whites, but no change in the earnings gaps between racial and ethnic groups. We also do not find a deterioration of the differentials between genders. The findings have implications related to the priorities of policy decision makers when implementing policies to combat race and ethnic, and gender gaps in the labor market.
Author: Ms.Valerie Cerra Publisher: International Monetary Fund ISBN: 1513536990 Category : Business & Economics Languages : en Pages : 50
Book Description
Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
Author: World Bank Publisher: World Bank Publications ISBN: 1464816476 Category : Political Science Languages : en Pages : 301
Book Description
Human capital—the knowledge, skills, and health that people accumulate over their lives—is a central driver of sustainable growth, poverty reduction, and successful societies. More human capital is associated with higher earnings for people, higher income for countries, and stronger cohesion in societies. Much of the hard-won human capital gains in many economies over the past decade is at risk of being eroded by the COVID-19 (coronavirus) pandemic. Urgent action is needed to protect these advances, particularly among the poor and vulnerable. Designing the needed interventions, targeting them to achieve the highest effectiveness, and navigating difficult trade-offs make investing in better measurement of human capital now more important than ever. The Human Capital Index (HCI)—launched in 2018 as part of the Human Capital Project—is an international metric that benchmarks the key components of human capital across economies. The HCI is a global effort to accelerate progress toward a world where all children can achieve their full potential. Measuring the human capital that children born today can expect to attain by their 18th birthdays, the HCI highlights how current health and education outcomes shape the productivity of the next generation of workers and underscores the importance of government and societal investments in human capital. The Human Capital Index 2020 Update: Human Capital in the Time of COVID-19 presents the first update of the HCI, using health and education data available as of March 2020. It documents new evidence on trends, examples of successes, and analytical work on the utilization of human capital. The new data—collected before the global onset of COVID-19—can act as a baseline to track its effects on health and education outcomes. The report highlights how better measurement is essential for policy makers to design effective interventions and target support. In the immediate term, investments in better measurement and data use will guide pandemic containment strategies and support for those who are most affected. In the medium term, better curation and use of administrative, survey, and identification data can guide policy choices in an environment of limited fiscal space and competing priorities. In the longer term, the hope is that economies will be able to do more than simply recover lost ground. Ambitious, evidence-driven policy measures in health, education, and social protection can pave the way for today’s children to surpass the human capital achievements and quality of life of the generations that preceded them.
Author: T. D. Stanley Publisher: Routledge ISBN: 0415670780 Category : Business & Economics Languages : en Pages : 202
Book Description
Meta-Regression Analysis in Economics and Business is the first text devoted to the meta-regression analysis (MRA) of economics and business research.
Author: Seonghoon Kim
Author: Seonghoon Kim
Author: Elissaios Papyrakis
Author: Axel Börsch-Supan
Author: Louis-Philippe Béland
Author: Louis-Philippe Béland
Author: International Monetary Fund
Author: Stefani Milovanska-Farrington
Author: Ms.Valerie Cerra
Author: World Bank
Author: T. D. Stanley