Quantifying the Economic Impacts of COVID-19 Policy Responses on Canada's Provinces in (Almost) Real Time

Christopher Cotton, Bahman Kashi (), Huw Lloyd-Ellis and Frederic Tremblay ()
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Bahman Kashi: Limestone Analytics

No 1441, Working Paper from Economics Department, Queen's University

Abstract: We develop a methodology to track and quantify the economic impacts of lock-down and re-opening policies by Canadian provinces in response to the COVID-19 pandemic, using data that is available with a relatively short time-lag. To do so, we adapt, calibrate and implement a dynamic, seasonally-adjusted, input-output model with supply constraints. Our framework allows us to quantify potential scenarios for the impacts of lock-down and reopening which allow for dynamic complementarities between industries, seasonal fluctuations, and changes in the composition of demand. Taking account of the observed variation in re-opening strategies across provinces, we estimate the costs of the policy response in term of lost hours of employment and production.

Keywords: COVID-19; pandemic; lock-down; policy response; policy analysis; scenario analysis (search for similar items in EconPapers)
JEL-codes: C67 E61 I18 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2020-08
New Economics Papers: this item is included in nep-mac
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https://www.econ.queensu.ca/sites/econ.queensu.ca/files/wpaper/qed_wp_1441.pdf First version 2020 (application/pdf)

Related works:
Journal Article: Quantifying the economic impacts of COVID‐19 policy responses on Canada's provinces in (almost) real time (2022)
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