Coronavirus economics: the impact of shutting down meatpacking plants

Dennis W. Jansen, Liqun Liu and Andrew J. Rettenmaier

Applied Economics Letters, 2021, vol. 28, issue 15, 1264-1270

Abstract: Motivated by the observed beef and livestock market impacts of coronavirus-caused meatpacking plant shutdowns, this paper constructs a theoretical model to study the effects of closures among downstream producers on both consumers and upstream producers. It analyzes the pre-shock long-run equilibrium, the effects of firm shutdowns among the downstream producers, the effects of government subsidies, and the new long-run equilibrium if the underlying cause for firm shutdowns persists.

Date: 2021
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DOI: 10.1080/13504851.2020.1808168

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