Long COVID? Prospects for economic scarring from the pandemic.

This paper examines the potential persistent effects (scarring) of the COVID-19 pandemic on the economy and the channels through which they may occur. Our findings from a broad set of historical recessions confirm that recessions are associated with persistent output losses and that the greatest scarring has occurred following financial crises. The amount of scarring following pandemic and epidemic recessions in the sample is in between that of typical recessions and financial crises. Results on the channels show that the productivity channel is important, as all types of recessions have been followed by persistent losses to total factor productivity.

Sectoral Spillovers Across Space and Time

We examine the spillovers from sectoral shocks across sectors, countries, and over time. Using a large cross-country sample from 1995 to 2014 with detailed sectoral information, we show that supply and demand shocks propagate upstream and downstream in the production and distribution network, both domestically and abroad. We estimate substantial domestic sectoral spillovers in our global sample, and find foreign spillovers to be sizeable as well. We document a persistent effect of negative shocks, especially supply shocks coming from the same sector, on a sector's share in aggregate gross value added in a country. We also illustrate our results by quantifying the significant role spillovers played in amplifying the sectoral shocks associated with the COVID-19 pandemic. Our findings have implications for the design of policies with a sectoral dimension, such as the allocation of sector-specific public investment.

A comprehensive review of various categories of face masks resistant to Covid-19.

The science about the usage of face masks by the common public to avert COVID-19 transmission is proceeding swiftly. A primary route of transmission of COVID-19 is probably through small respiratory droplets, and it is transmissible from asymptomatic and pre-symptomatic individuals. According to the World Health Organization, wearing a mask in public can help reduce the transmission of the COVID-19 virus. Different categories and types of masks and their usage are reviewed in this work. In a nutshell, this review work elucidates the aspects of utilizing the various face masks along with all possibilities to fight against the ongoing pandemic of COVID-19.