This paper examines the individual records of patients treated for COVID-19 during the early phase of the pandemic in Ontario. We trace out daily transitions of patients through medical care of different intensity and address the right truncation in the database. We also examine the sojourn times and reveal duration dependence in the treatments for COVID-19. The transition model is used to estimate and forecast the counts of patients treated for COVID-19 in Ontario, while adjusting for the right truncation and right censoring in the sample. This research is based on the Public Health Ontario (PHO) data set from May 7, 2020.

Millions of goods and services are now unavailable in many countries due to the current coronavirus pandemic, dramatically impacting on the construction of key economic statistics used for informing policy. This situation is unprecedented; hence, methods to address it have not previously been developed. Current advice to national statistical offices from the International Monetary Fund, Eurostat and the United Nations is shown to result in downward bias in the consumer price index (CPI) and upward bias in real consumption. We conclude that, to produce a meaningful CPI within the lockdown period, it is necessary to establish a continuous consumer expenditure survey.

The recent COVID-19 pandemic has devastated economies worldwide. Using detailed, monthly data from a major consumer credit reporting agency in Canada, we have examined individuals' use of credit cards and home-equity lines of credit (HELOCs). We found a dramatic leftward shift in the distribution of credit card and HELOC outstanding balances, providing evidence for a widespread reduction in credit usage. Our findings suggest that, during the COVID-19 recession, Canadian consumers were able to meet their financial needs without increasing their debt burdens. These results complement other findings concerning a decline in consumer spending and the results of government assistance programs, and imply that the economic consequences of this pandemic are very different from those in other recessions.

We introduce a state-dependent algorithm with minimal data requirements for predicting output dynamics as a function of employment across industries and locations. The method generalizes insights of Okun (1963) by leveraging measures of industry heterogeneity. We use the algorithm to examine gross domestic product (GDP) dynamics following the COVID-19 pandemic of 2020, delivering informative projections of aggregate and sectoral output. Because the pandemic curtailed the ability to perform certain tasks at work, our application examines whether greater reliance on digital technologies can mediate employment and productivity losses. We use industry-level indices of digital task intensity and ability to work from home, together with publicly available data on employment and GDP for Canada, to document that: (i) employment responses after the shock's onset are milder in digitally intensive sectors and (ii) conditional on the size of employment changes, GDP responses are less extreme in digitally intensive sectors. Our projections indicate a return to pre-crisis aggregate output within eight quarters of the initial shock with significant heterogeneity in recovery patterns across sectors.

We document two COVID-19-related risks, viral risk and employment risk, and their distributions across the Canadian population. The measurement of viral risk is based on the VSE COVID-19 Risk/Reward Assessment Tool, created to assist policy-makers in determining the impacts of pandemic-related economic shutdowns and re-openings. Women are more concentrated in high-viral-transmission-risk occupations, which is the source of their greater employment loss over the first part of the pandemic. They were also less likely to maintain contact with their former employers, reducing employment recovery rates. Low-educated workers face the same viral risk rates as high-educated workers but much higher employment losses. This is largely due to their lower likelihood of switching to working from home. For both women and the low-educated, existing inequities in their occupational distributions and living situations have resulted in them bearing a disproportionate amount of the risk emerging from the pandemic. Assortative matching in couples has tended to exacerbate risk inequities.

Using a simple economic model in which social distancing reduces contagion, we study the implications of waning immunity for the epidemiological dynamics and social activity. If immunity wanes, we find that COVID-19 likely becomes endemic and that social distancing is here to stay until the discovery of a vaccine or cure. But waning immunity does not necessarily change optimal actions on the onset of the pandemic. Decentralized equilibria are virtually independent of waning immunity until close to peak infections. For centralized equilibria, the relevance of waning immunity decreases in the probability of finding a vaccine or cure, the costs of infection (e.g., infection-fatality rate), the degree of partial immunity and the presence of other NPIs that lower contagion (e.g., quarantining and mask use). In simulations calibrated to July 2020, our model suggests that waning immunity is virtually unimportant for centralized equilibria until at least 2021. This provides vital time for individuals and policy-makers to learn about immunity against SARS-CoV-2 before it becomes critical.

This work studies the impact of the Social Explosion and COVID-19 crisis on the household sector in Chile. The Social Explosion in October 2019 represented a mass protest, much larger than similar events in other nations such as the yellow jackets. Using delinquency models calibrated with survey data, I show that household debt risk increased substantially after the Social Explosion across all income backgrounds but fell slightly with the COVID-19 pandemic due to the public policies implemented. The expansion of the public support policies in August 2020 decreased the debt risk to levels similar to before the two crises.

I study the interaction between epidemics and economic decisions in a model where: (i) agents allocate their time to market and home production and social and home leisure, (ii) these activities differ in their degree of contagiousness, (iii) some infected individuals are indistinguishable from susceptible individuals and (iv) agents are not necessarily rational. For baseline parameter values for the COVID-19 pandemic, I find that agents partially self-isolate by allocating more time to home activities and that the effective reproduction number of the disease stabilizes at 1. Detection and isolation of infected individuals severely mitigate the recession and deaths caused by the pandemic.

In this paper, we exploit the geographical pattern of primary school reopenings during the COVID-19 pandemic in Canada to estimate the impact of school reopenings on parental employment and work hours. We use a triple-difference approach, in which we first compare parents of primary-school children in regions where schools reopened to similar parents in regions where schools remained closed and add parents of older, secondary-school children as an additional control group. We estimate the impact of school reopenings separately for mothers and fathers, and for single parents and parents living in dual-parent households. We find a positive impact of school reopenings on employment and on actual hours worked. The effects tend to be stronger for single mothers, but are also present for mothers and fathers in dual-parent households in the spring of 2020. Overall, single mothers experienced an 18 percentage point increase in their employment at work rate following school reopenings. We also split our sample according to whether the job can be done from home, and find stronger impacts for those whose jobs cannot easily be done from home.

This paper analyzes the effectiveness of debt-relief programs targeting short-run household liquidity constraints implemented in Canada in response to the COVID-19 pandemic. These programs allowed individuals to push off mortgage and credit card payments and cut in half interest rates on credit card debt. Using credit bureau data, we document that, despite potential savings above $4 billion, enrolment was limited: 24% for mortgages and 7% for credit cards. By exploiting the richness of our data set, we provide evidence that close to 80% of individuals were unaware of the credit card relief program while others faced important fixed non-monetary costs preventing uptake.

We outline a macro-pandemic model where individuals can select into working from home or in the market. Market work increases the risk of infection. Occupations differ in the ease of substitution between market and home work and in the risk of infection. We examine the evolution of a pandemic in the model as well as its macroeconomic and distributional consequences. The model is calibrated to British Columbian data to examine the implications of shutting down different industries by linking industries to occupations. We find that endogenous choice to self-isolate is key: it reduces the peak weekly infection rate by two percentage points but reduces the trough consumption level by four percentage points, even without policy-mandated lockdowns. The model also produces widening consumption inequality, a fact that has characterized COVID-19.

In this paper, we study the effect of COVID-19 on the labour market and reported mental health of Canadians. To better understand the effect of the pandemic on the labour market, we build indexes for whether workers: (i) are relatively more exposed to disease, (ii) work in proximity to co-workers, (iii) are essential workers and (iv) can easily work remotely. Our estimates suggest that the impact of COVID-19 was significantly more severe for workers that work in proximity to co-workers and those more exposed to disease who are not in the health sector, while the effects are less severe for essential workers and workers that can work remotely. Last, using the Canadian Perspective Survey Series, we observe that reported mental health is significantly lower among some of the most affected workers such as women and less-educated workers. We also document that those who were absent from work because of COVID-19 are more concerned with meeting their financial obligations and with losing their job than those who continue working outside their home.

We develop a methodology to track and quantify the economic impacts of lockdown and reopening policies by Canadian provinces in response to the COVID-19 pandemic, using data that is available with a relatively short time lag. To do so, we adapt, calibrate and implement a dynamic, seasonally adjusted, input-output model with supply constraints. Our framework allows us to quantify potential scenarios that allow for dynamic complementarities between industries, seasonal fluctuations and changes in demand composition. Taking account of the observed variation in reopening strategies across provinces, we estimate the costs of the policy response in terms of lost hours of employment and production. Among other results, we show how a more aggressive response, even though it imposes higher economic costs in the short run, can lead to lower economic costs in the long run if it means avoiding future waves of lockdowns.

This paper develops an agent-based model to quantify the impact of COVID-19 on household debt and savings. To build a representative cross-section of households that vary by income, debt portfolios and consumption baskets, we merge data from the Survey of Household Spending and the Survey of Financial Security. We construct paths for consumption and employment over the crisis, accounting for heterogeneous risk of unemployment across demographics, government transfers, and substitution between expenditure categories that vary in contact intensity. Our model simulations yield a heterogeneous effect of COVID-19 across the income distribution. Low-income households face the highest risk of unemployment, but transfers provide generous income replacement. Middle-income job losers see the fastest rise in debt because transfers only partially replace lost income. Most unplanned savings are accumulated by high-income households that face lower risk of unemployment and larger declines in hard-to-distance spending. We find the rise in savings could generate a brief jump of nearly 6% of monthly consumption.

To study the efficacy of the public policy response to the COVID-19 pandemic, we develop a model of the rich interactions between epidemiology and socioeconomic choices. Preferences feature a "fear of death" that lead individuals to reduce their social activity and work time in the face of the pandemic. The aggregate effect of these reductions is to slow the spread of the novel coronavirus. We calibrate the model, including public policies, to developments in Ontario in the spring of 2020. The model fits the epidemiological data quite well, including the second wave starting in late 2020. We find that socioeconomic interventions work well in the short term, resulting in a rapid drop-off in new cases. The long run, however, is governed chiefly by health developments. Welfare cost calculations point to synergies between the health and socioeconomic measures.

We examine the short-term impact of COVID-19 on consumption spending and its underlying mechanisms using individual-level monthly panel data from Singapore. Although Singapore's case fatality rate was one of the lowest in the world in the early stage of the pandemic (0.05%), we find that the COVID-19 pandemic reduced household consumption spending by almost one quarter at its peak, with a larger response from households with above-median wealth. We show that the reduction in consumption spending is associated with the nationwide lockdown policy, heightened economic uncertainty and reduced income. In addition, we find a substantial increase in monthly savings among households without income losses, suggesting a substantial rebound in consumption spending after the lifting of the lockdown. The results from June 2020 confirm this conjecture, as we find that consumption spending rebounded by about 10 percentage points in that month.

COVID-related government outlays will increase the level of government debt. A macroeconomic model, calibrated to the US, quantitatively assesses potential responses to this higher debt. In terms of economic welfare, reducing debt through capital incomes tax hikes is the least desirable option considered: the associated tax base is small, and anticipating such a tax increase reduces capital accumulation. There is little to choose between fiscal austerity through government spending cuts versus raising labour income tax rates. Accommodating higher government debt is welfare-improving but still requires substantial fiscal austerity owing to higher debt servicing costs.

Education and income are strong predictors of health and longevity. In the last 20 years many efforts have been made to understand if these relationships are causal and what the possible role of policy should be as a result. The evidence from various studies is ambiguous: the effects of education and income policies on health are heterogeneous and vary over time, and across places and populations. I discuss explanations for these disparate results and suggest directions for future research.

We assess the effect of the COVID-19 pandemic and particularly the sector-specific mobility restrictions on the Colombian labour market. We exploit the sectoral and temporal variation of the restriction policies to identify their effect. Mobility restrictions significantly reduced employment, accounting for approximately a quarter of the total job loss between February and April of 2020. The remaining three quarters of the job losses could be attributed to the disease's regional patterns and other epidemiological and economic factors affecting the whole country. Therefore, we should expect important employment losses even in the absence of such restrictions. We also assess the effect of restrictions on the intensive margin, finding negative, although smaller effects on the number of hours worked and wages. Most of the employment effect is driven by salaried workers, while self-employment was more responsive to the disease spread. Finally, we find that women are disproportionally affected: mobility restrictions account for a third of the recent increase of the gender gap in salaried employment.

This study examined the relationships between exposure to food and beverage product television advertisements and consumption and obesity outcomes among youth. Individual-level data on fast-food and soft drink consumption and body mass index (BMI) for young adolescents from the Early Childhood Longitudinal Study - Kindergarten Cohort (1998-1999) and adiposity measures for children from the U.S. National Health and Nutrition Examination Survey (2003-2004) were combined with designated market area (DMA) Nielsen media advertising ratings data. To account for unobserved individual-level and DMA-level heterogeneity, various fixed- and random-effects models were estimated. The results showed that exposure to soft drink and sugar-sweetened beverage advertisements are economically and statistically significantly associated with higher frequency of soft drink consumption among youth even after controlling for unobserved heterogeneity, with elasticity estimates ranging from 0.4 to 0.5. The association between fast-food advertising exposure and fast-food consumption disappeared once we controlled for unobservables. Exposure to cereal advertising was significantly associated with young adolescents' BMI percentile ranking but exposures to fast-food and soft drink advertisements were not. The results on adiposity outcomes revealed that children's exposure to cereal advertising was associated with both percent body and trunk fatness; fast-food advertising was significantly associated with percent trunk fatness and marginally significantly associated with percent body fatness; and, exposure to SSB advertising was marginally significantly associated with percent body and trunk fatness. The study results suggest that continued monitoring of advertising is important and policy debates regarding the regulation of youth-directed marketing are warranted.