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The Spillover Effects of COVID-19 on Productivity throughout the Supply Chain

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Abstract

While the shocks from COVID-19 were concentrated in a handful of contact-intensive industries, they had rippling effects throughout the economy, which culminated in a considerable decline in U.S. GDP. In this post, we estimate how much of the fall in U.S. GDP during the pandemic was driven by spillover effects from the productivity losses of contact-intensive industries.

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  • Victoria E. Agwam & Pablo D. Azar & Kyra Frye, 2021. "The Spillover Effects of COVID-19 on Productivity throughout the Supply Chain," Liberty Street Economics 20210927, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:93075
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    File URL: https://libertystreeteconomics.newyorkfed.org/2021/09/the-spillover-effects-of-covid-19-on-productivity-throughout-the-supply-chain/
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    More about this item

    Keywords

    pandemic; COVID-19; productivity; supply chains;
    All these keywords.

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment

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