Journal
JOURNAL OF ECONOMIC SURVEYS
Volume 35, Issue 4, Pages 1007-1044Publisher
WILEY
DOI: 10.1111/joes.12423
Keywords
COVID-19; coronavirus; economic impact; lockdowns; social impact
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This article surveys the literature on the economic consequences of COVID-19 and governmental responses, covering topics such as data sets, techniques, social distancing, macroeconomic impacts, socioeconomic consequences, and public policy responses.
The goal of this piece is to survey the developing and rapidly growing literature on the economic consequences of COVID-19 and the governmental responses, and to synthetize the insights emerging from a very large number of studies. This survey: (i) provides an overview of the data sets and the techniques employed to measure social distancing and COVID-19 cases and deaths; (ii) reviews the literature on the determinants of compliance with and the effectiveness of social distancing; (iii) mentions the macroeconomic and financial impacts including the modelling of plausible mechanisms; (iv) summarizes the literature on the socioeconomic consequences of COVID-19, focusing on those aspects related to labor, health, gender, discrimination, and the environment; and (v) summarizes the literature on public policy responses.
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