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Contact Intensity, Unemployment and Finite Change - The Case of Entertainment Sector under Pandemic: A General Equilibrium Approach

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  • Marjit, Sugata
  • Das, Gouranga

Abstract

This paper explores the short run, medium run and long run impact of pandemic on the contact intensive entertainment industry in terms of a simple general equilibrium model that can accommodate for unemployment and underemployment. Finite change as a response to large shocks may lead to vanishing occupations in this industry, even when pandemic is over and leads to underemployment. Pandemic tends to eliminate fixed wage contracts in this sector for its survival, but over the longer run affects fundamental occupational choice in a society.

Suggested Citation

  • Marjit, Sugata & Das, Gouranga, 2022. "Contact Intensity, Unemployment and Finite Change - The Case of Entertainment Sector under Pandemic: A General Equilibrium Approach," GLO Discussion Paper Series 1200, Global Labor Organization (GLO).
    • Handle: RePEc:zbw:glodps:1200
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    More about this item

    Keywords

    Wage gap; Covid-19; Entertainment; Contact-intensive; Finite Change; General Equilibrium;
    All these keywords.

    JEL classification:

    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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