China and World Output Impact of the Hubei Lockdown During the Coronavirus Outbreak

10 Pages Posted: 6 Oct 2020

See all articles by Shaowen Luo

Shaowen Luo

Virginia Polytechnic Institute & State University - Department of Economics

Kwok Ping Tsang

Virginia Polytechnic Institute & State University

Multiple version iconThere are 2 versions of this paper

Date Written: October 2020

Abstract

Using a network approach, we estimate the output loss due to the lockdown of the Hubei province triggered by the coronavirus disease (COVID‐19). Based on our most conservative estimate, China suffers about 4% loss of output from labor loss, and global output drops by 1% per period due to the economic contraction in China. About 40% of the impact is indirect, coming from spillovers through the supply chain inside and outside China.

JEL Classification: E23, E24, F62

Suggested Citation

Luo, Shaowen and Tsang, Kwok Ping, China and World Output Impact of the Hubei Lockdown During the Coronavirus Outbreak (October 2020). Contemporary Economic Policy, Vol. 38, Issue 4, pp. 583-592, 2020, Available at SSRN: https://ssrn.com/abstract=3704366 or http://dx.doi.org/10.1111/coep.12482

Shaowen Luo (Contact Author)

Virginia Polytechnic Institute & State University - Department of Economics ( email )

3021 Pamplin Hall
Blacksburg, VA 24061
United States

Kwok Ping Tsang

Virginia Polytechnic Institute & State University ( email )

250 Drillfield Drive
Blacksburg, VA 24061
United States

HOME PAGE: http://https://sites.google.com/site/byrontkp/

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