Labor markets during pandemics
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985998%3A_____%2F22%3A00560151" target="_blank" >RIV/67985998:_____/22:00560151 - isvavai.cz</a>
Alternative codes found
RIV/00216208:11640/22:00560153
Result on the web
<a href="https://doi.org/10.1016/j.jet.2022.105520" target="_blank" >https://doi.org/10.1016/j.jet.2022.105520</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.jet.2022.105520" target="_blank" >10.1016/j.jet.2022.105520</a>
Alternative languages
Result language
angličtina
Original language name
Labor markets during pandemics
Original language description
The COVID-19 pandemic has killed millions across the globe and government responses have led to tens of millions of jobs lost. This paper combines the SIR epidemic model with a frictional labor market to examine the interaction between infection, wages and unemployment. The labor market is not efficient during the pandemic. Optimal policies show that it is often optimal to shut down businesses and impose a quarantine before the pandemic peaks. A quarantine itself is not enough, however, and must be complemented by additional policies. The policies are not unique and include a Pigouvian “infection tax” on those infected, a tax on susceptible individuals, higher unemployment benefits and a tax on vacancy creation. All policies are state dependent and depend both on the number of unemployed and on the number of infected.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50202 - Applied Economics, Econometrics
Result continuities
Project
Result was created during the realization of more than one project. More information in the Projects tab.
Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2022
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Journal of Economic Theory
ISSN
0022-0531
e-ISSN
1095-7235
Volume of the periodical
204
Issue of the periodical within the volume
September
Country of publishing house
US - UNITED STATES
Number of pages
37
Pages from-to
105520
UT code for WoS article
000843011400009
EID of the result in the Scopus database
2-s2.0-85135848114