Will COVID-19 Have Long-Lasting Effects on Inequality? Evidence from Past Pandemics

46 Pages Posted: 14 May 2021

See all articles by Davide Furceri

Davide Furceri

International Monetary Fund (IMF)

Prakash Loungani

International Monetary Fund (IMF)

Jonathan D. Ostry

Georgetown University; International Monetary Fund (IMF)

Pietro Pizzuto

University of Palermo - d/SEAS

Multiple version iconThere are 2 versions of this paper

Date Written: May 1, 2021

Abstract

This paper provides evidence on the impact of major epidemics from the past two decades on income distribution. The pandemics in our sample, even though much smaller in scale than COVID-19, have led to increases in the Gini coefficient, raised the income share of higher-income deciles, and lowered the employment-to-population ratio for those with basic education compared to those with higher education. We provide some evidence that the distributional consequences from the current pandemic may be larger than those flowing from the historical pandemics in our sample, and larger than those following typical recessions and financial crises.

JEL Classification: D43, E52, E58, L11

Suggested Citation

Furceri, Davide and Loungani, Prakash and Ostry, Jonathan D. and Pizzuto, Pietro, Will COVID-19 Have Long-Lasting Effects on Inequality? Evidence from Past Pandemics (May 1, 2021). CEPR Discussion Paper No. DP16122, Available at SSRN: https://ssrn.com/abstract=3846234

Davide Furceri (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Prakash Loungani

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States
202-623-7043 (Phone)
202-623-4740 (Fax)

Jonathan D. Ostry

Georgetown University ( email )

Washington, DC 20057
United States

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

Pietro Pizzuto

University of Palermo - d/SEAS ( email )

Viale delle Scienze, edificio 13
Palermo, 90124
Italy

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