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Coronavirus economics: the impact of shutting down meatpacking plants

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  • Dennis W. Jansen
  • Liqun Liu
  • Andrew J. Rettenmaier

Abstract

Motivated by the observed beef and livestock market impacts of coronavirus-caused meatpacking plant shutdowns, this paper constructs a theoretical model to study the effects of closures among downstream producers on both consumers and upstream producers. It analyzes the pre-shock long-run equilibrium, the effects of firm shutdowns among the downstream producers, the effects of government subsidies, and the new long-run equilibrium if the underlying cause for firm shutdowns persists.

Suggested Citation

  • Dennis W. Jansen & Liqun Liu & Andrew J. Rettenmaier, 2021. "Coronavirus economics: the impact of shutting down meatpacking plants," Applied Economics Letters, Taylor & Francis Journals, vol. 28(15), pages 1264-1270, September.
    • Handle: RePEc:taf:apeclt:v:28:y:2021:i:15:p:1264-1270
    DOI: 10.1080/13504851.2020.1808168
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