Oxford Martin School: Public Lectures And Seminars

In this recorded talk, Professor Doyne Farmer and Maria del Rio-Chanona talk about their new paper on supply and demand shocks, and the impacts on society, resulting from the COVID-19 pandemic The COVID-19 pandemic is having an unprecedented impact on societies around the world. As governments mandate social distancing practices and instruct non-essential businesses to close to slow the spread of the outbreak, there is significant uncertainty about the effect such measures will have on lives and livelihoods. While demand for specific sectors such as healthcare has skyrocketed in recent months, other sectors such as air transportation and tourism have seen demand for their services evaporate. At the same time, many sectors are experiencing issues on the supply-side, as governments curtail the activities of non-essential industries. Which industries will suffer most from demand-side or supply-side shocks resulting from the pandemic? Which workers are most of risk of unemployment or reduced wage income? Who wi