The economics of the COVID-19 pandemic: an assessment

Susskind, Daniel; Vines, David

doi:10.1093/oxrep/graa036

Cited by 125 publications

(78 citation statements)

References 28 publications

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“…The parameter

represents the extent of the economic impact of the lockdown, with a higher value indicating a more negative impact. Consistent with the intuition in Susskind and Vines (2020) , we characterize how under some parameter values, optimal lockdowns are not draconian or long drawn out i.e. of low intensity and only for one period.…”

Section: Introductionmentioning

confidence: 66%

“…This behavioral response is indeed being seen in many countries where a majority of citizens maintain social distancing and continue to reduce their social contact and take precautions against the disease even after the government eases some of the restrictions imposed earlier. As Susskind and Vines (2020) point out, the use of lockdowns thus had an additional effect of signaling how important it was to change behavior, obviating the need for long drawn out draconian lockdowns for disease containment. This idea is formalized through our habit formation parameter

which internalizes some of the messages that a lockdown conveys.…”

Section: Introductionmentioning

confidence: 99%

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Learning versus habit formation: Optimal timing of lockdown for disease containment

Bandyopadhyay

Chatterjee

Das

et al. 2021

Journal of Mathematical Economics

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“…The parameter

Section: Introductionmentioning

confidence: 66%

which internalizes some of the messages that a lockdown conveys.…”

Section: Introductionmentioning

confidence: 99%

Learning versus habit formation: Optimal timing of lockdown for disease containment

Bandyopadhyay

Chatterjee

Das

et al. 2021

Journal of Mathematical Economics

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“…The adverse economic effects of the pandemic have already been widely documented, as has variation in countries’ policy responses intended to buffer them [ 18 ]. A large and longstanding literature indicates that economic shocks and economic uncertainty are associated with subsequent family demographic trends.…”

Section: Introductionmentioning

confidence: 99%

COVID-19 lockdowns and demographically-relevant Google Trends: A cross-national analysis

et al. 2021

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The spread of COVID-19 and resulting local and national lockdowns have a host of potential consequences for demographic trends. While impacts on mortality and, to some extent, short-term migration flows are beginning to be documented, it is too early to measure actual consequences for family demography. To gain insight into potential future consequences of the lockdown for family demography, we use cross-national Google Trends search data to explore whether trends in searches for words related to fertility, relationship formation, and relationship dissolution changed following lockdowns compared to average, pre-lockdown levels in Europe and the United States. Because lockdowns were not widely anticipated or simultaneous in timing or intensity, we exploit variability over time and between countries (and U.S. states). We use a panel event-study design and difference-in-differences methods, and account for seasonal trends and average country-level (or state-level) differences in searches. We find statistically significant impacts of lockdown timing on changes in searches for terms such as wedding and those related to condom use, emergency contraception, pregnancy tests, and abortion, but little evidence of changes in searches related to fertility. Impacts for union formation and dissolution tended to only be statistically significant at the start of a lockdown with a return to average-levels about 2 to 3 months after lockdown initiation, particularly in Europe. Compared to Europe, returns to average search levels were less evident for the U.S., even 2 to 3 months after lockdowns were introduced. This may be due to the fact, in the U.S., health and social policy responses were less demarcated than in Europe, such that economic uncertainty was likely of larger magnitude. Such pandemic-related economic uncertainty may therefore have the potential to slightly increase already existing polarization in family formation behaviours in the U.S. Alongside contributing to the wider literature on economic uncertainty and family behaviors, this paper also proposes strategies for efficient use of Google Trends data, such as making relative comparisons and testing sensitivity to outliers, and provides a template and cautions for their use in demographic research when actual demographic trends data are not yet available.

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“…Indeed, due to the pandemic, the global community has been facing not only a public health crisis, but also an economic crisis [ 18 ]. According to Kose and Sugawara, the current recession is the first, since 1870, to be driven solely by a pandemic [ 19 ].…”

Section: Introductionmentioning

confidence: 99%

Feeling Uncertainty during the Lockdown That Commenced in March 2020 in Greece

Zavras

2021

IJERPH

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The coronavirus disease 2019 (COVID-19) pandemic has resulted in significant uncertainty for the global population. However, since not all population groups experience the impacts of the pandemic in the same way, the objective of this study was to identify the individual characteristics associated with the feeling of uncertainty during the lockdown that commenced in March 2020 in Greece. The study used data from the “Public Opinion in the European Union (EU) in Time of Coronavirus Crisis” survey. The sample consisted of 1050 individuals aged between 16 and 54 years. According to the analysis, which was based on a logistic regression model, the emotional status of older individuals, those who experienced income and job losses since the beginning of the pandemic, and middle-class and high-class individuals, is more likely to be described as a feeling of uncertainty. In addition, the emotional status of individuals with less concern for their own health and that of family and friends is less likely to be described as a feeling of uncertainty. Although the results related to age, income, and job losses, as regards concern for health, agree with the international literature, the limited health literacy of lower-class individuals may explain the reduced likelihood of their experiencing feelings of uncertainty. The results confirm the international literature describing several aspects of uncertainty due to the COVID-19 crisis.

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The economics of the COVID-19 pandemic: an assessment

Cited by 125 publications

References 28 publications

Learning versus habit formation: Optimal timing of lockdown for disease containment

Learning versus habit formation: Optimal timing of lockdown for disease containment

COVID-19 lockdowns and demographically-relevant Google Trends: A cross-national analysis

Feeling Uncertainty during the Lockdown That Commenced in March 2020 in Greece

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