{
  "title": "Will COVID-19 Have Long-Lasting Effects on Inequality? Evidence from Past Pandemics",
  "publication": "IMF Working Papers, May 1, 2021",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2021/05/01/will-covid-19-affect-inequality-evidence-from-past-pandemics-50286",
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  "summary": "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 t",
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    {
      "heading": "Overview",
      "content": "- Paper examines the impact of major epidemics from the past two decades on income distribution.\n- Authors: Davide Furceri, Prakash Loungani, Jonathan David Ostry, Pietro Pizzuto.\n- Date: May 1, 2021.\n- Core finding: pandemics in the sample, though much smaller in scale than COVID-19, have produced measurable distributional effects; evidence suggests COVID-19’s consequences may be larger than historical pandemics and larger than those following typical recessions and financial crises."
    },
    {
      "heading": "Key findings",
      "content": "- Income distribution effects observed after past pandemics:\n  - Increases in the Gini coefficient.\n  - Raised the income share of higher-income deciles.\n  - Lowered the employment-to-population ratio for those with basic education compared to those with higher education.\n- Comparative magnitude:\n  - The distributional consequences from the current pandemic (COVID-19) may be larger than those from the historical pandemics in the sample.\n  - The distributional consequences from COVID-19 may be larger than those following typical recessions and financial crises."
    },
    {
      "heading": "Scope, data, and keywords",
      "content": "- Subject areas: COVID-19, Financial crises, Health, Income, Income distribution, Income inequality, National accounts.\n- Keywords: COVID-19, Global, impact of pandemic, Income, Income distribution, Income inequality, income share, pandemic dummy regression, pandemic event, severity of the pandemic.\n- Sample period: major epidemics from the past two decades (as described in the paper)."
    },
    {
      "heading": "Implications highlighted by the study",
      "content": "- Past pandemics have distributional impacts that disproportionately affect lower-educated workers and increase inequality measures.\n- Policymakers should note that COVID-19’s distributional effects may exceed those seen in prior epidemics and typical macroeconomic crises, implying a need for targeted policy responses to limit long-lasting increases in inequality.\n\nSource: IMF Working Paper No. 2021/127\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/2021/05/01/will-covid-19-affect-inequality-evidence-from-past-pandemics-50286"
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    "Authors: Davide Furceri, Prakash Loungani, Jonathan David Ostry, Pietro Pizzuto",
    "Published: May 1, 2021",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781513582375.001",
    "Paper examines the impact of major epidemics from the past two decades on income distribution.",
    "Authors: Davide Furceri, Prakash Loungani, Jonathan David Ostry, Pietro Pizzuto.",
    "Date: May 1, 2021.",
    "Core finding: pandemics in the sample, though much smaller in scale than COVID-19, have produced measurable distributional effects; evidence suggests COVID-19’s consequences may be larger than historical pandemics and larger than those following typical recessions and financial crises.",
    "Income distribution effects observed after past pandemics:",
    "Comparative magnitude:",
    "Subject areas: COVID-19, Financial crises, Health, Income, Income distribution, Income inequality, National accounts.",
    "Keywords: COVID-19, Global, impact of pandemic, Income, Income distribution, Income inequality, income share, pandemic dummy regression, pandemic event, severity of the pandemic.",
    "Sample period: major epidemics from the past two decades (as described in the paper).",
    "Past pandemics have distributional impacts that disproportionately affect lower-educated workers and increase inequality measures.",
    "Policymakers should note that COVID-19’s distributional effects may exceed those seen in prior epidemics and typical macroeconomic crises, implying a need for targeted policy responses to limit long-lasting increases in inequality.",
    "**Working Paper**"
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