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A Literature Review of the Economics of COVID-19

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  • Brodeur, Abel
  • Gray, David
  • Islam, Anik
  • Bhuiyan, Suraiya Jabeen

Abstract

The goal of this piece is to survey the emerging and rapidly growing literature on the economic consequences of COVID-19 and 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 used to measure social distancing and COVID-19 cases and deaths; (ii) reviews the literature on the determinants of compliance and effectiveness of social distancing; (iii) summarizes the literature on the socio-economic consequences of COVID-19 and governmental interventions, focusing on labor, health, gender, discrimination and environmental aspects; and (iv) discusses policy proposals.

Suggested Citation

  • Brodeur, Abel & Gray, David & Islam, Anik & Bhuiyan, Suraiya Jabeen, 2020. "A Literature Review of the Economics of COVID-19," GLO Discussion Paper Series 601, Global Labor Organization (GLO).
  • Handle: RePEc:zbw:glodps:601
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    References listed on IDEAS

    as
    1. Ying Fan & A. Yeşim Orhun & Dana Turjeman, 2020. "Heterogeneous Actions, Beliefs, Constraints and Risk Tolerance During the COVID-19 Pandemic," NBER Working Papers 27211, National Bureau of Economic Research, Inc.
    2. Luca Fornaro & Martin Wolf, 2020. "Covid-19 coronavirus and macroeconomic policy," Economics Working Papers 1713, Department of Economics and Business, Universitat Pompeu Fabra.
    3. Aum, Sangmin & Lee, Sang Yoon (Tim) & Shin, Yongseok, 2021. "Inequality of fear and self-quarantine: Is there a trade-off between GDP and public health?," Journal of Public Economics, Elsevier, vol. 194(C).
    4. Dingel, Jonathan I. & Neiman, Brent, 2020. "How many jobs can be done at home?," Journal of Public Economics, Elsevier, vol. 189(C).
    5. Michele Valsecchi & Ruben Durante, 2020. "Internal migration and the spread of Covid-19," Working Papers w0276, New Economic School (NES).
    6. Nicholas W. Papageorge & Matthew V. Zahn & Michèle Belot & Eline Broek-Altenburg & Syngjoo Choi & Julian C. Jamison & Egon Tripodi, 2021. "Socio-demographic factors associated with self-protecting behavior during the Covid-19 pandemic," Journal of Population Economics, Springer;European Society for Population Economics, vol. 34(2), pages 691-738, April.
    7. Alfaro, Laura & Faia, Ester & Lamersdorf, Nora & Saidi, Farzad, 2020. "Social Interactions in Pandemics: Fear, Altruism, and Reciprocity," CEPR Discussion Papers 14716, C.E.P.R. Discussion Papers.
    8. Robert Fairlie, 2020. "The impact of COVID‐19 on small business owners: Evidence from the first three months after widespread social‐distancing restrictions," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 29(4), pages 727-740, October.
    9. Michael Greenstone & Vishan Nigam, 2020. "Does Social Distancing Matter?," Working Papers 2020-26, Becker Friedman Institute for Research In Economics.
    10. Yothin Jinjarak & Rashad Ahmed & Sameer Nair-Desai & Weining Xin & Joshua Aizenman, 2020. "Accounting for Global COVID-19 Diffusion Patterns, January–April 2020," Economics of Disasters and Climate Change, Springer, vol. 4(3), pages 515-559, October.
    11. Fairlie, Robert, 2020. "The impact of COVID-19 on small business owners: Evidence from the first 3 months after widespread social-distancing restrictions," Santa Cruz Department of Economics, Working Paper Series qt1n60b6p6, Department of Economics, UC Santa Cruz.
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    More about this item

    Keywords

    COVID-19; coronavirus; employment; lockdowns;
    All these keywords.

    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • J20 - Labor and Demographic Economics - - Demand and Supply of Labor - - - General

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