The COVID-19 pandemic and the consumption of nondurables and services

Charalampidis, Nikolaos; Guillochon, Justine

doi:10.1080/13504851.2021.1908515

Cited by 2 publications

(2 citation statements)

References 24 publications

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“…Faria‐e‐Castro (2021) formulates the pandemic as a sudden drop in employment in the contact‐intensive services sector. Charalampidis and Guillochon (2021) show that a shift in preferences from nondurables to services and a positive wage markup shock of the services sector are prominent in explaining the disparity between economic recessions and pandemic recessions. Cardani et al (2022) add a transitory forced savings shock that reduces consumption outside of habit persistence and a transitory labor hoarding shock that accounts for the disparity between households' hours worked and hours paid, that is, households work less during the pandemic while remaining paid.…”

Section: Related Literaturesmentioning

confidence: 99%

The impact of the COVID‐19 pandemic on high‐skilled and low‐skilled labor markets in a DSGE model

Chu

2023

Scottish J Political Eco

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This research analyzes the unequal impact of COVID‐19 on high‐skilled and low‐skilled labor in a dynamic stochastic general equilibrium (DSGE) model. The model is calibrated to fit Taiwan's economy and evaluates the effectiveness of various fiscal measures, including an increase in government spending, an increase in lump‐sum transfers, a disbursement of consumption vouchers, and an income tax cut, for combating the pandemic recession. Our results indicate that low‐skilled households tend to hoard labor more than high‐skilled households during economic downturns. An income tax cut outperforms other fiscal instruments in generating the highest aggregate welfare and in advancing output, employment, and consumption.

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Section: Related Literaturesmentioning

confidence: 99%

The impact of the COVID‐19 pandemic on high‐skilled and low‐skilled labor markets in a DSGE model

Chu

2023

Scottish J Political Eco

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“…Estrada (2021, p. 210) applied a developed simulator and found differences in developed, developing, and least-developed countries regarding how COVID-19 affected the inflation and unemployment in each type of country. Charalampidis andGuillochon (2022, p. 1093) compared the pandemic to the Great Recession, analysing the consumption, inflation, wages, and labour hours in services and nondurables. During the pan-demic, a reduction in the consumption of services was far deeper than the reduction in the consumption of nondurables.…”

Section: Introductionmentioning

confidence: 99%

Economic Drivers of Consumer Price Growth in the EU–27 Service Industry during the Post‑pandemic Period

Mileris

2023

CER

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The post‑pandemic period in the European Union is distinguished by the growth of business economic activity after two years of restrictions, growing debts and money supply, and extremely high inflation. This research analyses the Harmonised Index of Consumer Prices (HICP) in the service industries of the EU–27, comparing it to overall inflation and price growth in consumer goods markets. It also highlights the economic factors that contribute to the differences between service price growth in the EU–27. The results make it possible to classify the EU–27 countries according to the differences in service price changes. Consistent patterns of service HICP are highlighted, and the economic factors considering their relative importance to service HICP are ranked. Since 2022, public and governmental discussions concerning the post‑pandemic inflationary shock have become prevalent, so this research allows us to understand the economic factors that caused such huge inflation and substantiates the need for monetary policy measures to slow down inflation.

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The COVID-19 pandemic and the consumption of nondurables and services

Cited by 2 publications

References 24 publications

The impact of the COVID‐19 pandemic on high‐skilled and low‐skilled labor markets in a DSGE model

The impact of the COVID‐19 pandemic on high‐skilled and low‐skilled labor markets in a DSGE model

Economic Drivers of Consumer Price Growth in the EU–27 Service Industry during the Post‑pandemic Period

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