COVID-19 and the Costs of Deadly Disasters
Sydney C. Ludvigson, Sai Ma, Serena Ng
Abstract
Using monthly data on costly natural disasters affecting the United States over the last 40 years, we estimate 2 time series models and use them to generate predictions about the impact of COVID-19. We find that while our models yield reasonable estimates of the impact on industrial production and the number of scheduled flight departures, they underestimate the unprecedented changes in the labor market.
Topics & Concepts
Coronavirus disease 2019 (COVID-19)Natural disasterYield (engineering)Severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2)2019-20 coronavirus outbreakEconometricsEconomicsEnvironmental scienceGeographyMeteorologyMedicineOutbreakVirologyMaterials scienceDiseaseInfectious disease (medical specialty)PathologyMetallurgyCOVID-19 epidemiological studiesCOVID-19 Pandemic ImpactsAgricultural risk and resilience