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Sectoral Impact of COVID-19: Cascading Risks

Sophie Osotimehin and Latchezar Popov

No 31, Opportunity and Inclusive Growth Institute Working Papers from Federal Reserve Bank of Minneapolis

Abstract: Workers are unequal in the face of the COVID-19 pandemic: Those who work in essential sectors face higher health risk whereas those in non-essential social-consumption sectors face greater economic risk. We study how these health and economic risks cascade into other sectors through supply chains and demand linkages. In the U.S., we find the cascading effects account for about 25-30% of the exposure to both risks. The cascading effect increases the health risk faced by workers in the transportation and retail sectors, and it increases the economic risk faced by workers in the textile and petroleum sectors. We provide sectoral estimates of the health and economic risk for 42 other countries in an online interactive document.

Keywords: Demand shocks; COVID-19; production networks; Demand complementarity; Input-output (search for similar items in EconPapers)
JEL-codes: D57 E23 E24 (search for similar items in EconPapers)
Pages: 22
Date: 2020-05-07
New Economics Papers: this item is included in nep-hea, nep-mac and nep-net
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedmoi:87921

DOI: 10.21034/iwp.31

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