Economic Winners versus Losers and the Unequal Pandemic Recession
成果类型：
Article
署名作者：
Cirelli, Fernando; Gertler, Mark
署名单位：
New York University; National Bureau of Economic Research; Columbia University
刊物名称：
AMERICAN ECONOMIC JOURNAL-MACROECONOMICS
ISSN/ISSBN：
1945-7707
DOI：
10.1257/mac.20220285
发表日期：
2025
页码：
342-371
关键词：
摘要：
During the pandemic recession, firms directly exposed to the virus- i.e. the contact sector-contracted sharply and recovered slowly relative to the rest of the economy. Less understood is how firms that won by offering safer substitutes for contact sector goods have affected this unequal downturn. Using both firm and industry data, we first construct disaggregated measures of revenue growth that distinguish between contact sector losers, contact sector winners, and the noncontact sector. We show that contact sector losers contracted roughly 50 percent more than the sector average, while winners grew. We then develop a model to explain the evidence.
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