{
  "title": "IT Shields: Technology Adoption and Economic Resilience during the COVID-19 Pandemic",
  "publication": "IMF Working Papers, September 25, 2020",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2020/09/25/it-shields-technology-adoption-and-economic-resilience-during-the-covid-19-pandemic-49754",
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  "summary": "We study the economic effects of information technology (IT) adoption during the COVID-19 pandemic. Using data on IT adoption covering almost three million establishments in the US, we find that technology adoption can partly shield the economy from the impact of the pandemic.",
  "authors": [
    "Nicola Pierri",
    "Yannick Timmer"
  ],
  "publishDate": "2020-09-25",
  "series": "IMF Working Papers",
  "sections": [
    {
      "heading": "Study scope and data",
      "content": "- Authors: Nicola Pierri, Yannick Timmer\n- Date: September 25, 2020\n- Data: IT adoption covering almost three million establishments in the US\n- Publication: IMF Working Papers, Working Paper No. 2020/208, Pages: 41, Issue: 208, Volume: 2020, DOI: https://doi.org/10.5089/9781513557755.001, ISBN: 9781513557755, ISSN: 1018-5941"
    },
    {
      "heading": "Key findings on economic effects of IT adoption",
      "content": "- Technology adoption can partly shield the economy from the impact of the pandemic.\n- In areas where firms adopted more IT, the unemployment rate rose less in response to social distancing.\n- Counterfactual implication: if the pandemic had hit the world 5 years ago, the resulting unemployment rate would have been 2 percentage points higher during April and May 2020 (16% vs. 14%), due to the lower availability of IT.\n- Local IT adoption mitigates the labor market consequences of the pandemic for all individuals, regardless of gender and race, except those with the lowest level of educational attainment."
    },
    {
      "heading": "Subject areas and keywords highlighted",
      "content": "- Subject: COVID-19, Education, Health, Labor, Technology, Unemployment, Unemployment rate\n- Keywords: adoption dummy, adoption measure, adoption pattern, adoption state, COVID-19, Europe, Global, Inequality, IT adopter, IT adoption, IT budget, Skill-Biased Technical Change, Technology, Unemployment, Unemployment rate, WP\n\nIMF Working Paper: \"IT Shields: Technology Adoption and Economic Resilience during the COVID-19 Pandemic\", Nicola Pierri and Yannick Timmer, September 25, 2020.\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2020/09/25/it-shields-technology-adoption-and-economic-resilience-during-the-covid-19-pandemic-49754"
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    "Authors: Nicola Pierri, Yannick Timmer",
    "Published: September 25, 2020",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781513557755.001",
    "Authors: Nicola Pierri, Yannick Timmer",
    "Date: September 25, 2020",
    "Data: IT adoption covering almost three million establishments in the US",
    "Publication: IMF Working Papers, Working Paper No. 2020/208, Pages: 41, Issue: 208, Volume: 2020, DOI: https://doi.org/10.5089/9781513557755.001, ISBN: 9781513557755, ISSN: 1018-5941",
    "Technology adoption can partly shield the economy from the impact of the pandemic.",
    "In areas where firms adopted more IT, the unemployment rate rose less in response to social distancing.",
    "Counterfactual implication: if the pandemic had hit the world 5 years ago, the resulting unemployment rate would have been 2 percentage points higher during April and May 2020 (16% vs. 14%), due to the lower availability of IT.",
    "Local IT adoption mitigates the labor market consequences of the pandemic for all individuals, regardless of gender and race, except those with the lowest level of educational attainment.",
    "Subject: COVID-19, Education, Health, Labor, Technology, Unemployment, Unemployment rate",
    "Keywords: adoption dummy, adoption measure, adoption pattern, adoption state, COVID-19, Europe, Global, Inequality, IT adopter, IT adoption, IT budget, Skill-Biased Technical Change, Technology, Unemployment, Unemployment rate, WP",
    "**Working Paper**"
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