COVID-19 Is a Persistent Reallocation Shock

Jose Maria Barrero, Nicholas Bloom, Steven Davis and Brent Meyer

No c8wk7, SocArXiv from Center for Open Science

Abstract: Drawing on data from the firm-level Survey of Business Uncertainty, we present three pieces of evidence that COVID-19 is a persistent reallocation shock. First, rates of excess job and sales reallocation over 24-month periods have risen sharply since the pandemic struck, especially for sales. We compute these rates by aggregating over monthly firm-level observations that look back 12 months and ahead 12 months. Second, as of December 2020, firm-level forecasts of sales revenue growth over the next year imply a continuation of recent changes, not a reversal. Third, COVID-19 shifted relative employment growth trends in favor of industries with a high capacity of employees to work from home, and against those with a low capacity.

Date: 2021-01-25
New Economics Papers: this item is included in nep-bec and nep-hrm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (28)

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Related works:
Journal Article: COVID-19 Is a Persistent Reallocation Shock (2021)
Working Paper: COVID-19 Is a Persistent Reallocation Shock (2021)
Working Paper: COVID-19 Is a Persistent Reallocation Shock (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:osf:socarx:c8wk7

DOI: 10.31219/osf.io/c8wk7

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