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10.1186/s41937-020-00053-x

http://scihub22266oqcxt.onion/10.1186/s41937-020-00053-x
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suck abstract from ncbi


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pmid32934939      Swiss+J+Econ+Stat 2020 ; 156 (1): 12
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  • COVID-19 outbreak and beyond: the information content of registered short-time workers for GDP now- and forecasting #MMPMID32934939
  • Kaufmann S
  • Swiss J Econ Stat 2020[]; 156 (1): 12 PMID32934939show ga
  • The number of short-time workers from January to April 2020 is used to now- and forecast quarterly GDP growth. We purge the monthly log level series from the systematic component to extract unexpected changes or shocks to log short-time workers. These monthly shocks are included in a univariate model for quarterly GDP growth to capture timely, current-quarter unexpected changes in growth dynamics. Included shocks additionally explain 24% in GDP growth variation. The model is able to forecast quite precisely the decrease in GDP during the financial crisis. It predicts a mean decline in GDP of 5.7% over the next two quarters. Without additional growth stimulus, the GDP level forecast remains persistently 4% lower in the long run. The uncertainty is large, as the 95% highest forecast density interval includes a decrease in GDP as large as 9%. A recovery to pre-crisis GDP level in 2021 lies only in the upper tail of the 95% highest forecast density interval.
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