Macroeconomic implications of the COVID-19 pandemic: an analysis of early academic production

This paper consists of a comprehensive literature survey on Macroeconomics and COVID-19. For this, I revise thirty-four papers published by the Working Paper Series of the National Bureau of Economic Research (NBER) of the United States during the four months that followed the pandemic’s outbreak (from mid-March to mid-July 2020), under the Aggregate Macroeconomic Effects category. The present analysis is primarily focused on understanding the conceptual evolution that has been driven by the conciliation between macroeconomics and epidemiology, and how certain tools of contemporary macroeconomic analysis have helped at better understanding the epidemiological process and its effects over aggregate macroeconomic outcomes. I also analyze some of the most important optimal containment policy discussions that have been drawn from such evolution, in coherence with the particular methodological characteristics that each researcher included in their model, as well as the most relevant findings obtained.

• Main Author: Avila, Mario (author)
• Format: article
• Language: spa
• Published: 2021
• Subjects: Macroeconomics; Economic methodology; Macroeconomic modelling; Epidemiological modelling; COVID-19; Macroeconomía; Metodología económica; Modelización macroeconómica; Modelización epidemiológica
• Online Access: https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/293