Lockdown Accounting

Item Type Journal paper
Abstract

We use an accounting framework to evaluate the aggregate impact of a common lockdown policy for 85 countries. We find that poorer countries devote more labor to essential activities that are unaffected by the lockdown, while richer countries can more easily substitute non-essential employment with work from home. The lockdown generates an employment response that is U-shaped in income: it drops by 32% in the poorest quintile of the distribution, by 36% in the middle quintile, and by 31% in the richest quintile. Annualized GDP declines by 39% in the bottom three quintiles and by 31% in the richest quintile. Agriculture, an essential sector, is key in sustaining employment and economic activity in poorer countries.

Authors Gottlieb, Charles; Grobovsek, Jan; Poschke, Markus & Saltiel, Fernando
Journal or Publication Title The B.E. Journal of Macroeconomics
Language English
Subjects economics
HSG Classification contribution to scientific community
HSG Profile Area SEPS - Economic Policy
Refereed Yes
Date February 2021
ISSN 2194-6116
ISSN-Digital 1935-1690
Publisher DOI https://doi.org/10.1515/bejm-2020-0251
Official URL https://www.degruyter.com/document/doi/10.1515/bej...
Depositing User Prof. Ph.D Charles Gottlieb
Date Deposited 03 Feb 2021 14:15
Last Modified 14 Apr 2021 00:25
URI: https://www.alexandria.unisg.ch/publications/262250

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Citation

Gottlieb, Charles; Grobovsek, Jan; Poschke, Markus & Saltiel, Fernando (2021) Lockdown Accounting. The B.E. Journal of Macroeconomics, ISSN 2194-6116

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https://www.alexandria.unisg.ch/id/eprint/262250
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