The Economic Impact of Lockdowns: A Persistent Inoperability Input-Output Approach
The COVID-19 pandemic has forced governments around the world to implement unprecedented lockdowns, mandating businesses to shut down for extended periods of time. Previous studies have modeled the impact of disruptions to the economy at static and dynamic settings. This study develops a model to fu...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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MDPI AG
2020-12-01
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| Series: | Economies |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2227-7099/8/4/109 |
| _version_ | 1827700398783201280 |
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| author | Krista Danielle S. Yu Kathleen B. Aviso Joost R. Santos Raymond R. Tan |
| author_facet | Krista Danielle S. Yu Kathleen B. Aviso Joost R. Santos Raymond R. Tan |
| author_sort | Krista Danielle S. Yu |
| collection | DOAJ |
| description | The COVID-19 pandemic has forced governments around the world to implement unprecedented lockdowns, mandating businesses to shut down for extended periods of time. Previous studies have modeled the impact of disruptions to the economy at static and dynamic settings. This study develops a model to fulfil the need to account for the sustained disruption resulting from the extended shutdown of business operations. Using a persistent inoperability input-output model (PIIM), we are able to show that (1) sectors that suffer higher levels of inoperability during quarantine period may recover faster depending on their resilience; (2) initially unaffected sectors can suffer inoperability levels higher than directly affected sectors over time; (3) the economic impact on other regions not under lockdown is also significant. |
| first_indexed | 2024-03-10T14:12:38Z |
| format | Article |
| id | doaj.art-5e338d0ffbfb4e619f526f9305c3104f |
| institution | Directory Open Access Journal |
| issn | 2227-7099 |
| language | English |
| last_indexed | 2024-03-10T14:12:38Z |
| publishDate | 2020-12-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Economies |
| spelling | doaj.art-5e338d0ffbfb4e619f526f9305c3104f2023-11-21T00:04:26ZengMDPI AGEconomies2227-70992020-12-018410910.3390/economies8040109The Economic Impact of Lockdowns: A Persistent Inoperability Input-Output ApproachKrista Danielle S. Yu0Kathleen B. Aviso1Joost R. Santos2Raymond R. Tan3School of Economics, De La Salle University, Manila 0922, PhilippinesChemical Engineering Department, De La Salle University, Manila 0922, PhilippinesDepartment of Engineering Management & Systems Engineering, The George Washington University, Washington, DC 20052, USAChemical Engineering Department, De La Salle University, Manila 0922, PhilippinesThe COVID-19 pandemic has forced governments around the world to implement unprecedented lockdowns, mandating businesses to shut down for extended periods of time. Previous studies have modeled the impact of disruptions to the economy at static and dynamic settings. This study develops a model to fulfil the need to account for the sustained disruption resulting from the extended shutdown of business operations. Using a persistent inoperability input-output model (PIIM), we are able to show that (1) sectors that suffer higher levels of inoperability during quarantine period may recover faster depending on their resilience; (2) initially unaffected sectors can suffer inoperability levels higher than directly affected sectors over time; (3) the economic impact on other regions not under lockdown is also significant.https://www.mdpi.com/2227-7099/8/4/109COVID-19disease outbreakpandemiceconomic impact assessmentinput-output analysisinoperability input-output model |
| spellingShingle | Krista Danielle S. Yu Kathleen B. Aviso Joost R. Santos Raymond R. Tan The Economic Impact of Lockdowns: A Persistent Inoperability Input-Output Approach Economies COVID-19 disease outbreak pandemic economic impact assessment input-output analysis inoperability input-output model |
| title | The Economic Impact of Lockdowns: A Persistent Inoperability Input-Output Approach |
| title_full | The Economic Impact of Lockdowns: A Persistent Inoperability Input-Output Approach |
| title_fullStr | The Economic Impact of Lockdowns: A Persistent Inoperability Input-Output Approach |
| title_full_unstemmed | The Economic Impact of Lockdowns: A Persistent Inoperability Input-Output Approach |
| title_short | The Economic Impact of Lockdowns: A Persistent Inoperability Input-Output Approach |
| title_sort | economic impact of lockdowns a persistent inoperability input output approach |
| topic | COVID-19 disease outbreak pandemic economic impact assessment input-output analysis inoperability input-output model |
| url | https://www.mdpi.com/2227-7099/8/4/109 |
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