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).