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. 2021 Oct 12;6(1):73–93. doi: 10.1007/s41885-021-00096-1

Table 5.

Impact of the pandemic mortality on productivity

Dependent variable Labor productivity TFP
(5.1) (5.2) (5.3) (5.4) (5.5) (5.6) (5.7) (5.8) (5.9) (5.10)
excess_a (baseline)

-1.006***

(0.335)

-0.949***

(0.322)

-0.923***

(0.326)

-0.880***

(0.265)

excess_b

-1.027***

(0.359)

-0.959***

(0.355)

-1.009***

(0.341)

-0.950***

(0.311)

excess_c

-0.927**

(0.382)

-0.929***

(0.312)

Controls No No Yes Yes Yes No No Yes Yes Yes
Obs 46 46 46 46 52 45 45 45 45 52
R-squared 0.13 0.14 0.37 0.36 0.25 0.12 0.15 0.41 0.42 0.41

*** p < 0.01, ** p < 0.05, * p < 0.1. Robust standard errors are in parenthesis.

excess_a (baseline): Averaged 1968–70 deviation (for the Northern hemisphere) or averaged 1969–70 deviation (for the Southern hemisphere) in excess mortality rate from pre-pandemic level (1965–67).

excess_b: Averaged 1969–70 deviation in excess mortality rate from pre-pandemic level (1965–67).

excess_c: Averaged 1968–70 deviation (for the Northern hemisphere) or averaged 1969–70 deviation (for the Southern hemisphere) in excess mortality rate from pre-pandemic level (1963–67).

Control variables: the underlying economic conditions, including inflation, government consumption, trade openness, years of secondary schooling, population growth, and political right index in the pre-pandemic period 1965–67. A few countries are missing data for TFP, so the sample size is smaller (see Appendix Table 9).