Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/247585 
Year of Publication: 
2020
Citation: 
[Journal:] Econometrics [ISSN:] 2225-1146 [Volume:] 8 [Issue:] 3 [Publisher:] MDPI [Place:] Basel [Year:] 2020 [Pages:] 1-16
Publisher: 
MDPI, Basel
Abstract: 
This paper studies long economic series to assess the long-lasting effects of pandemics. We analyze if periods that cover pandemics have a change in trend and persistence in growth, and in level and persistence in unemployment. We find that there is an upward trend in the persistence level of growth across centuries. In particular, shocks originated by pandemics in recent times seem to have a permanent effect on growth. Moreover, our results show that the unemployment rate increases and becomes more persistent after a pandemic. In this regard, our findings support the design and implementation of timely counter-cyclical policies to soften the shock of the pandemic.
Subjects: 
growth
long memory
pandemics
persistence
structural change
unemployment
JEL: 
C22
C50
E66
N10
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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