全球智库信息集成服务系统(G2TT): DP15892 Initial Output Losses from the Covid-19 Pandemic: Robust Determinants

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP15892
	DP15892 Initial Output Losses from the Covid-19 Pandemic: Robust Determinants
	Davide Furceri; Michael Ganslmeier; Jonathan D. Ostry; Naihan Yang
发表日期	2021-03-06
出版年	2021
语种	英语
摘要	While the COVID-19 pandemic is affecting all countries, output losses vary considerably across countries. We provide a first analysis of robust determinants of observed initial output losses using model-averaging techniques—Weighted Average Least Squares and Bayesian Model Averaging. The results suggest that countries that experienced larger output losses are those with lower GDP per capita, more stringent containment measures, higher deaths per capita, higher tourism dependence, more liberalized financial markets, higher pre-crisis growth, lower fiscal stimulus, higher ethnic and religious fractionalization and more democratic regimes. With respect to the first factor, lower resilience of poorer countries reflects the higher economic costs of containment measures and deaths in such countries and less effective fiscal and monetary policy stimulus.
主题	International Macroeconomics and Finance ; Macroeconomics and Growth
关键词	Covid-19 Recession Resilience Wals Bma Model-averaging
URL	https://cepr.org/publications/dp15892
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/544883
推荐引用方式 GB/T 7714	Davide Furceri,Michael Ganslmeier,Jonathan D. Ostry,et al. DP15892 Initial Output Losses from the Covid-19 Pandemic: Robust Determinants. 2021.