Measuring the Cost of Covid-19 in Terms of the Rise in the Unemployment Rate: The Case of Spain-Reference-Cited by-同舟云学术

Measuring the Cost of Covid-19 in Terms of the Rise in the Unemployment Rate: The Case of Spain

Published:2021-01-01 Issue:1 Volume:15 Page:112-114
ISSN:1864-6042
Container-title:Economics
language:en
Short-container-title:

Author:

Cuestas Juan Carlos¹²³,Ordóñez Javier¹,Monfort Mercedes¹

Affiliation:

1. Department of Economics and IEI, Jaume I University, Castellón de la Plana , Spain

2. Department of Economics and Finance, Tallinn University of Technology , Tallinn , Estonia

3. Department of Economics , Universitat Jaume I , Avda Sos Baynat s.n , 12070 Castellón de la Plana , Spain

Abstract

Abstract In this article, we aim to estimate what the cost of Covid-19 has been in terms of unemployment for Spain. We use a simple autoregressive model to simulate what the unemployment rate would have been without the pandemic and we compare this with the actual values. We also forecast the unemployment rate for 2021 and 2022 to analyse the persistence of the pandemic shock to unemployment.

Publisher

Walter de Gruyter GmbH

Subject

General Economics, Econometrics and Finance

Link

https://www.degruyter.com/document/doi/10.1515/econ-2021-0009/pdf

Reference7 articles.

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2. Bauer, A., & Weber, E. (2021). COVID-19: How much unemployment was caused by the shutdown in Germany?. Applied Economics Letters, 28(12), 1053–1058. 10.1080/13504851.2020.1789544.

3. Blanchard, O. J., & Summers, L. H. (1986). Hysteresis in unemployment (October). NBER working paper No. w2035.

4. Cuestas, J. C., & Ordóñez, J. (2018). Fiscal consolidation in Europe: Has it worked?. Applied Economics Letters, 25(16), 1179–1182.

5. Faria, J. R., & León-Ledesma, M. A. (2008). A simple nonlinear dynamic model for unemployment: Explaining the Spanish case. Discrete Dynamics in Nature and Society, 2008, 981952.

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