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Business dynamism, sectoral reallocation and productivity in a pandemic()
Asymmetric effects across sectors are the distinctive features of the Covid-19 shock. An Epidemiological-Industry Dynamic model with heterogeneous firms and endogenous firms dynamics mimics the deep recession suffered by sectors characterized by high exposure, the reallocation of entry and exit oppo...
Autores principales: | , , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
The Author(s). Published by Elsevier B.V.
2023
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Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10195779/ https://www.ncbi.nlm.nih.gov/pubmed/37265687 http://dx.doi.org/10.1016/j.euroecorev.2023.104473 |
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author | Ascari, Guido Colciago, Andrea Silvestrini, Riccardo |
author_facet | Ascari, Guido Colciago, Andrea Silvestrini, Riccardo |
author_sort | Ascari, Guido |
collection | PubMed |
description | Asymmetric effects across sectors are the distinctive features of the Covid-19 shock. An Epidemiological-Industry Dynamic model with heterogeneous firms and endogenous firms dynamics mimics the deep recession suffered by sectors characterized by high exposure, the reallocation of entry and exit opportunities across sectors, and the dynamics of aggregate productivity during the first wave of the pandemic. The cleansing effect induced by the Covid-19 crisis is sector-specific. Monetary policy and sticky wages are central ingredients to capture reallocation effects. Social distancing, by smoothing out cleansing in the social sector, slows down the reallocation process and prolongs the recession, but saves lives. |
format | Online Article Text |
id | pubmed-10195779 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2023 |
publisher | The Author(s). Published by Elsevier B.V. |
record_format | MEDLINE/PubMed |
spelling | pubmed-101957792023-05-19 Business dynamism, sectoral reallocation and productivity in a pandemic() Ascari, Guido Colciago, Andrea Silvestrini, Riccardo Eur Econ Rev Article Asymmetric effects across sectors are the distinctive features of the Covid-19 shock. An Epidemiological-Industry Dynamic model with heterogeneous firms and endogenous firms dynamics mimics the deep recession suffered by sectors characterized by high exposure, the reallocation of entry and exit opportunities across sectors, and the dynamics of aggregate productivity during the first wave of the pandemic. The cleansing effect induced by the Covid-19 crisis is sector-specific. Monetary policy and sticky wages are central ingredients to capture reallocation effects. Social distancing, by smoothing out cleansing in the social sector, slows down the reallocation process and prolongs the recession, but saves lives. The Author(s). Published by Elsevier B.V. 2023-07 2023-05-19 /pmc/articles/PMC10195779/ /pubmed/37265687 http://dx.doi.org/10.1016/j.euroecorev.2023.104473 Text en © 2023 The Author(s) Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active. |
spellingShingle | Article Ascari, Guido Colciago, Andrea Silvestrini, Riccardo Business dynamism, sectoral reallocation and productivity in a pandemic() |
title | Business dynamism, sectoral reallocation and productivity in a pandemic() |
title_full | Business dynamism, sectoral reallocation and productivity in a pandemic() |
title_fullStr | Business dynamism, sectoral reallocation and productivity in a pandemic() |
title_full_unstemmed | Business dynamism, sectoral reallocation and productivity in a pandemic() |
title_short | Business dynamism, sectoral reallocation and productivity in a pandemic() |
title_sort | business dynamism, sectoral reallocation and productivity in a pandemic() |
topic | Article |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10195779/ https://www.ncbi.nlm.nih.gov/pubmed/37265687 http://dx.doi.org/10.1016/j.euroecorev.2023.104473 |
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