COVID-19, stay-at-home orders and employment : evidence from CPS data / Beland, Louis-Philippe, Brodeur, Abel, Wright, Taylor
In this paper, we examine the short-term consequences of COVID-19 and evaluate the impacts of stay-at-home orders on employment and wages in the United States. Guided by a pre-analysis plan, we document that COVID-19 increased the unemployment rate, decreased hours of work and labor force participation, especially for younger workers, non-white, not married and less-educated workers. We built four indexes (exposure to disease, proximity to coworkers, work remotely and critical workers) to study the impact of COVID-19. We find that workers that can work remotely are significantly less likely to have their labor market outcomes affected, while workers working in proximity to coworkers are more affected. The unemployment effects are significantly larger for states that implemented stay-at-home orders. Our estimates suggest that, as of early May, these policies increased unemployment by nearly 4 percentage points, but reduced COVID-19 cases by 186,600-311,000, and deaths by 17,851-23,325. We apply our estimates to compute lost income ($18.6-$21.4 billion), reduced government income tax revenues ($3.4-$5.5 billion), increased unemployment insurance benefit payments ($5-$5.8 billion) and reduced hospital costs ($0.7-$1.2 billion). Despite the jobs lost, age adjusted value of statistical life suggests that stay-at-home orders are cost effective..
Medienart: |
E-Book |
---|
Erscheinungsjahr: |
2020 |
---|---|
Erschienen: |
Essen: Global Labor Organization (GLO) ; 2020 |
Reihe: |
GLO discussion paper - no. 559 |
---|
Sprache: |
Englisch |
---|
Beteiligte Personen: |
Beland, Louis-Philippe [VerfasserIn] |
---|
Links: |
www.econstor.eu [kostenfrei] |
---|
Umfang: |
1 Online-Ressource (circa 111 Seiten) ; Illustrationen |
---|
Weitere IDs: |
10419/218748 |
---|
Förderinstitution / Projekttitel: |
|
---|
PPN (Katalog-ID): |
1699213526 |
---|
LEADER | 01000cam a2200265 4500 | ||
---|---|---|---|
001 | 1699213526 | ||
003 | DE-627 | ||
005 | 20230427032033.0 | ||
007 | cr uuu---uuuuu | ||
008 | 200602s2020 gw |||||o 00| ||eng c | ||
024 | 7 | |a 10419/218748 |2 hdl | |
035 | |a (DE-627)1699213526 | ||
035 | |a (DE-599)KXP1699213526 | ||
035 | |a (OCoLC)1189757122 | ||
040 | |a DE-627 |b ger |c DE-627 |e rda | ||
041 | |a eng | ||
044 | |c XA-DE | ||
084 | |a I15 |a I18 |a J21 |2 jelc | ||
100 | 1 | |a Beland, Louis-Philippe |e verfasserin |0 (DE-588)121020116X |0 (DE-627)1698257082 |4 aut | |
245 | 1 | 0 | |a COVID-19, stay-at-home orders and employment |b evidence from CPS data |c Beland, Louis-Philippe, Brodeur, Abel, Wright, Taylor |
264 | 1 | |a Essen |b Global Labor Organization (GLO) |c 2020 | |
300 | |a 1 Online-Ressource (circa 111 Seiten) |b Illustrationen | ||
336 | |a Text |b txt |2 rdacontent | ||
337 | |a Computermedien |b c |2 rdamedia | ||
338 | |a Online-Ressource |b cr |2 rdacarrier | ||
490 | 1 | |a GLO discussion paper |v no. 559 | |
520 | |a In this paper, we examine the short-term consequences of COVID-19 and evaluate the impacts of stay-at-home orders on employment and wages in the United States. Guided by a pre-analysis plan, we document that COVID-19 increased the unemployment rate, decreased hours of work and labor force participation, especially for younger workers, non-white, not married and less-educated workers. We built four indexes (exposure to disease, proximity to coworkers, work remotely and critical workers) to study the impact of COVID-19. We find that workers that can work remotely are significantly less likely to have their labor market outcomes affected, while workers working in proximity to coworkers are more affected. The unemployment effects are significantly larger for states that implemented stay-at-home orders. Our estimates suggest that, as of early May, these policies increased unemployment by nearly 4 percentage points, but reduced COVID-19 cases by 186,600-311,000, and deaths by 17,851-23,325. We apply our estimates to compute lost income ($18.6-$21.4 billion), reduced government income tax revenues ($3.4-$5.5 billion), increased unemployment insurance benefit payments ($5-$5.8 billion) and reduced hospital costs ($0.7-$1.2 billion). Despite the jobs lost, age adjusted value of statistical life suggests that stay-at-home orders are cost effective. | ||
700 | 1 | |a Brodeur, Abel |e verfasserin |0 (DE-588)1035512084 |0 (DE-627)747819467 |0 (DE-576)383223148 |4 aut | |
700 | 1 | |a Wright, Taylor |e verfasserin |0 (DE-588)1197010114 |0 (DE-627)167881332X |4 aut | |
830 | 0 | |a GLO discussion paper |v no. 559 |9 559 |w (DE-627)1041298935 |w (DE-576)514706384 |w (DE-600)2951901-9 |7 ns | |
856 | 4 | 0 | |u https://www.econstor.eu/bitstream/10419/218748/1/GLO-DP-0559.pdf |x Verlag |z kostenfrei |
856 | 4 | 0 | |u http://hdl.handle.net/10419/218748 |x Resolving-System |z kostenfrei |
912 | |a GBV_ILN_26 | ||
912 | |a ISIL_DE-206 | ||
912 | |a SYSFLAG_1 | ||
912 | |a GBV_KXP | ||
912 | |a SSG-OLC-PHA | ||
912 | |a GBV_ILN_2403 | ||
912 | |a ISIL_DE-LFER | ||
951 | |a BO | ||
980 | |2 26 |1 01 |x 0206 |b 3681636990 |c 08 |f K: |d DS 565 |e --%%-- |j --%%-- |y z1k |z 02-06-20 | ||
980 | |2 2403 |1 01 |x DE-LFER |b 3684415146 |c 00 |f --%%-- |d --%%-- |e n |j --%%-- |y l01 |z 09-06-20 | ||
981 | |2 2403 |1 01 |x DE-LFER |r https://www.econstor.eu/bitstream/10419/218748/1/GLO-DP-0559.pdf | ||
982 | |2 26 |1 00 |x DE-206 |8 56 |a COVID-19 | ||
982 | |2 26 |1 00 |x DE-206 |8 56 |a unemployment | ||
982 | |2 26 |1 00 |x DE-206 |8 56 |a wages | ||
982 | |2 26 |1 00 |x DE-206 |8 56 |a remote work | ||
982 | |2 26 |1 00 |x DE-206 |8 56 |a exposure to disease | ||
982 | |2 26 |1 00 |x DE-206 |8 56 |a essential workers | ||
982 | |2 26 |1 00 |x DE-206 |8 56 |a stay-at-home orders | ||
982 | |2 26 |1 00 |x DE-206 |8 56 |a lockdown |