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Is the COVID-19 Pandemic a Supply or a Demand Shock?

Author

Listed:
  • Pedro Brinca
  • Joao B. Duarte
  • Miguel Faria-e-Castro

Abstract

Labor supply shocks likely account for most of the fall in hours worked.

Suggested Citation

  • Pedro Brinca & Joao B. Duarte & Miguel Faria-e-Castro, 2020. "Is the COVID-19 Pandemic a Supply or a Demand Shock?," Economic Synopses, Federal Reserve Bank of St. Louis, issue 31, May.
  • Handle: RePEc:fip:fedles:88065
    DOI: 10.20955/es.2020.31
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    References listed on IDEAS

    as
    1. Brinca, Pedro & Duarte, Joao B. & Faria-e-Castro, Miguel, 2021. "Measuring labor supply and demand shocks during COVID-19," European Economic Review, Elsevier, vol. 139(C).
    2. Asger Lau Andersen & Emil Toft Hansen & Niels Johannesen & Adam Sheridan, 2020. "Pandemic, Shutdown and Consumer Spending: Lessons from Scandinavian Policy Responses to COVID-19," Papers 2005.04630, arXiv.org.
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    Cited by:

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    2. Vijay Victor & Joshy Joseph Karakunnel & Swetha Loganathan & Daniel Francois Meyer, 2021. "From a Recession to the COVID-19 Pandemic: Inflation–Unemployment Comparison between the UK and India," Economies, MDPI, vol. 9(2), pages 1-19, May.
    3. Chadha, Jagjit S. & Corrado, Luisa & Meaning, Jack & Schuler, Tobias, 2021. "Monetary and fiscal complementarity in the Covid-19 pandemic," Working Paper Series 2588, European Central Bank.
    4. P. K. Mishra & S. K. Mishra, 2020. "Corona Pandemic and Stock Market Behaviour: Empirical Insights from Selected Asian Countries," Millennial Asia, , vol. 11(3), pages 341-365, December.
    5. Vikash Murmu & Dinesh Kumar & Ashok Kumar Jha, 2023. "Quality and selling price dependent sustainable perishable inventory policy: Lessons from Covid-19 pandemic," Operations Management Research, Springer, vol. 16(1), pages 408-432, March.
    6. UMBA, Gilles Bertrand & SIASI, Yves & LUMBALA, Grégoire, 2020. "Leçons macroéconomiques de la Covid-19: une analyse pour la RDC [Macroeconomic Lessons from Covid-19: An Analysis for DRC]," MPRA Paper 102589, University Library of Munich, Germany.
    7. Elżbieta Kacperska & Jakub Kraciuk, 2021. "Changes in the Stock Market of Food Industry Companies during the COVID-19 Pandemic—A Comparative Analysis of Poland and Germany," Energies, MDPI, vol. 14(23), pages 1-17, November.
    8. KOTEN Marek & ŠIMŮNEK Lubor & SMOLÁK Pavel & BEDNÁŘ Milan & ZUBÍKOVÁ Adéla & ŠEVČÍK Miroslav, 2022. "Blanket Restrictive Measures in the Czech Republic During the COVID-19 Pandemic – A Trade-Off Concept Application," European Journal of Interdisciplinary Studies, Bucharest Economic Academy, issue 02, June.
    9. Brand, Claus & Obstbaum, Meri & Coenen, Günter & Sondermann, David & Lydon, Reamonn & Ajevskis, Viktors & Hammermann, Felix & Angino, Siria & Hernborg, Nils & Basso, Henrique & Hertweck, Matthias & Bi, 2021. "Employment and the conduct of monetary policy in the euro area," Occasional Paper Series 275, European Central Bank.
    10. Dany Brouillette & Julien Champagne & Julien McDonald-Guimond, 2020. "Potential output in Canada: 2020 reassessment," Staff Analytical Notes 2020-25, Bank of Canada.
    11. Marlena Piekut & Kamil Piekut, 2022. "Changes in Patterns of Consumer Spending in European Households," Sustainability, MDPI, vol. 14(19), pages 1-25, October.
    12. Xinxiong Wu & Chen Chen Yong & Su Teng Lee, 2022. "Addressing the COVID-19 Shock: The Potential Job Creation in China by the RCEP," IJERPH, MDPI, vol. 19(23), pages 1-15, November.
    13. LIANG, Licheng, 2023. "Resilience of Japanese Multinational Enterprises' Production Networks during the COVID-19 Pandemic," Discussion Paper Series 742, Institute of Economic Research, Hitotsubashi University.
    14. Valeria Borsellino & Sina Ahmadi Kaliji & Emanuele Schimmenti, 2020. "COVID-19 Drives Consumer Behaviour and Agro-Food Markets towards Healthier and More Sustainable Patterns," Sustainability, MDPI, vol. 12(20), pages 1-26, October.
    15. Nashwan M. A. Saif & Jianping Ruan & Bojan Obrenovic, 2021. "Sustaining Trade during COVID-19 Pandemic: Establishing a Conceptual Model Including COVID-19 Impact," Sustainability, MDPI, vol. 13(10), pages 1-20, May.
    16. Dany Brouillette & Julien Champagne & Julien McDonald-Guimond, 2020. "Production potentielle au Canada : réévaluation de 2020," Staff Analytical Notes 2020-25fr, Bank of Canada.
    17. Stephen Roll & Yung Chun & Olga Kondratjeva & Mathieu Despard & Talia Meital Schwartz-Tayri & Michal Grinstein-Weiss, 2022. "Household Spending Patterns and Hardships during COVID-19: A Comparative Study of the U.S. and Israel," Journal of Family and Economic Issues, Springer, vol. 43(2), pages 261-281, June.

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    Keywords

    COVID-19;

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