POTENTIAL IMPLICATIONS OF THE PANDEMIC ON MEDIUM TERM PRODUCTIVITY

Pakasa Bary (), Pandu Kuntoaji, Dwi Febby Multiretno and Wira Kusuma Igp
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Pakasa Bary: Bank Indonesia, Indonesia
Pandu Kuntoaji: Bank Indonesia, Indonesia
Dwi Febby Multiretno: Bank Indonesia, Indonesia
Wira Kusuma Igp: Bank Indonesia, Indonesia

Bulletin of Monetary Economics and Banking, 2025, vol. 28, issue 1, 57-84

Abstract: This study analyses the potential medium-term impact of the pandemic to productivity and macroeconomy. It simulates the impact of the pandemic on productivity, labor and macroeconomic dynamics. The simulation is carried out using simple variations of real business cycle models, with shock on consumption-leisure preference which are endogenously responded by technology. Simulation results are consistent with macroeconomic dynamics observed during the pandemic and therefore may imply medium term prospects. In addition, permanent application of technology to replace pandemic-related labour restrictions is superior for medium-term growth.

Keywords: Productivity; Pandemic; COVID-19; General equilibrium; Digitalization (search for similar items in EconPapers)
JEL-codes: E23 E24 J22 J63 O33 O47 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:idn:journl:v:28:y:2025:i:1d:p:57-84

DOI: 10.59091/2460-9196.2358

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