Title :

Teaching the Economic Impact of COVID-19 with a Simple Short-run Macro-model: Simultaneous Supply and Demand Shocks

Author(s) :

Charles, Sebastien [Auteur]
Laboratoire d'Economie Dionysien [LED]
Dallery, Thomas [Auteur]
Centre Lillois d'Études et de Recherches Sociologiques et Économiques (CLERSE) - UMR 8019
Marie, Jonathan [Auteur]
Centre d'Economie de l'Université Paris Nord [CEPN]

Journal title :

Review of Political Economy

Abbreviated title :

ROPE

Volume number :

33

Pages :

462-479

Publisher :

Informa UK Limited

Publication date :

2021-04-14

Article status :

Publié

ISSN :

1465-3982

English keyword(s) :

simultaneous shocks
recession
lockdown
COVID-19

HAL domain(s) :

Sciences de l'Homme et Société/Economies et finances

English abstract : [en]

This short note has one main ambition. It seeks to provide students with a very simple macroeconomic framework to deal with the short-term economic impact of the COVID-19 pandemic. The explanation for the unprecedented ...
Show more >This short note has one main ambition. It seeks to provide students with a very simple macroeconomic framework to deal with the short-term economic impact of the COVID-19 pandemic. The explanation for the unprecedented magnitude of the recession over a short span of time is to be found in the peculiar form of the shock due to the various lockdowns. Indeed, the 2020 crisis is specific in that it involved two recessive shocks simultaneously: a demand shock superimposed on a supply shock. This model is original in that although it is driven by demand it is capable of dealing with supply issues without entailing any additional technical difficulties.Show less >

Language :

Anglais

Peer reviewed article :

Oui

Audience :

Internationale

Popular science :

Non

Administrative institution(s) :

Université de Lille
CNRS
Univ. Littoral Côte d’Opale

Collections :

• Centre Lillois d'Études et de Recherches Sociologiques et Économiques (CLERSE) - UMR 8019

Research team(s) :

Économies et sociétés : développement, richesse, innovation et régulation

Submission date :

2023-07-07T09:53:19Z
2023-10-26T11:17:01Z