A note on the heterogenous economic effects of COVID-19 on GDP via the sectoral structure

Jakub Mućk, Michał Rubaszek and Karol Szafranek

Bank i Kredyt, 2021, vol. 52, issue 3, 253-266

Abstract: This article shows how the effect of the COVID-19 pandemic on the aggregate activity depends on the sectoral structure of the economy. We show that in a prolonged lockdown scenario, in which we assume that the response of individual sectors is homogenous across countries, the decline in GDP across countries is heterogeneous and can vary in a substantial way purely due to the diverse sectoral structure of economies.

Keywords: COVID-19; production structure; value added (search for similar items in EconPapers)
JEL-codes: C67 E01 E23 E27 I15 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

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