Economic Costs of Work Stoppages Caused by the COVID-19 Outbreak
Economic Costs of Work Stoppages Caused by the COVID-19 Outbreak
Abstract This study explores the economic costs of work stoppages resulting from the COVID-19 pandemic. It utilizes a global multiregional dynamic computable general equilibrium model and finds that the higher the proportion of labor compensation in the initial factor distribution, the greater the economic damage. Macroeconomic loss was characterized by …