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A General Equilibrium Assessment Of Covid-19’S Labor Productivity Impacts On China’S Regional Economies, Xi He, Edward J. Balistreri, Gyu Hyun Kim, Wendong Zhang
A General Equilibrium Assessment Of Covid-19’S Labor Productivity Impacts On China’S Regional Economies, Xi He, Edward J. Balistreri, Gyu Hyun Kim, Wendong Zhang
Department of Economics: Faculty Publications
This study introduces a database for analyzing COVID-19’s impacts on China’s regional economies. This database contains various sectoral and regional economic outcomes at the weekly and monthly level. In the context of a general equilibrium trade model, we first formulate a mathematical representation of the Chinese regional economy and calibrate the model with China’s multi-regional input-output table. We then utilize the monthly provincial and sectoral value-added and national trade series to estimate COVID-19’s province-by-month labor-productivity impacts from February 2020 to September 2020. As a year-on-year comparison, relative to February 2019 levels, we find an average 39.5% decrease in labor productivity …