Scarred but Wiser

• Tác giả: Vladimir Kolchin
• Ngôn ngữ: eng
• Ký hiệu phân loại: 157.3 [Unassigned]
• Thông tin xuất bản: World Bank, Washington, DC, 2020
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 321273
• Chủ đề: 1. ECONOMIC SHOCK; 2. PANDEMIC; 3. PREPAREDNESS; 4. SOCIETAL RESPONSE; 5. WAR DEATHS

Tóm tắt

The paper formalizes and tests the hypothesis that greater exposure to big shocks induces stronger societal responses for adaptation and protection from future big shocks. Support for this hypothesis is found in various strands of the literature and in new empirical tests using cross-country data on deaths due to COVID-19 and deaths during World War 2. Countries with higher death rates in the war saw lower death rates during the COVID-19 pandemic. The tests are robust to a wide range of model specifications and alternative assumptions.