Framework for evaluating economic impact of IT based disasters on the interdependent sectors of the US economy

AbstractThis research measures the epidemiological and economic impact of COVID-19 spread in the US under different mitigation scenarios, comprising of non-pharmaceutical interventions. A detailed disease model of COVID-19 is combined with a model of the US economy to estimate the direct impact of labor supply shock to each sector arising from morbidity, mortality, and lockdown, as well as the indirect impact caused by the interdependencies between sectors. During a lockdown, estimates of jobs that are workable from home in each sector are used to modify the shock to labor supply. Results show trade-offs between economic losses, and lives saved and infections averted are non-linear in compliance to social distancing and the duration of the lockdown. Sectors that are worst hit are not the labor-intensive sectors such as the Agriculture sector and the Construction sector, but the ones with high valued jobs such as the Professional Services, even after the teleworkability of jobs is accounted for. Additionally, the findings show that a low compliance to interventions can be overcome by a longer shutdown period and vice versa to arrive at similar epidemiological impact but their net effect on economic loss depends on the interplay between the marginal gains from averting infections and deaths, versus the marginal loss from having healthy workers stay at home during the shutdown.

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US dock strike unlikely to be repeated

Emerald Expert Briefings ◽

10.1108/oxan-db197837 ◽

2015 ◽

Keyword(s):

United States ◽

Economic Impact ◽

Case Studies ◽

Low Income ◽

The United States ◽

Content Type ◽

Work Stoppage ◽

Us Economy ◽

Complete Work ◽

The Us

Significance The slowdown led to extreme backlogs at the ports, which are responsible for about 45.0% of containerised cargo in the United States and goods representing 12.5% of GDP. Importers and exporters are concerned that the tactic of an economically-damaging slowdown or complete work stoppage may be repeated at the end of the contract, or at ports on the East or Gulf Coasts. Impacts The economic impact of the slowdown is calculated to have cost GDP one percentage point in the fourth quarter of 2014. State actions against unions will provide case studies for examining their impact on wage levels. The segmentation of the US economy has made low-income workers suited for greater unionisation. However, they are also most vulnerable to employer action and less able to withstand strikes.

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The Impact of the Cruise Industry on a Region's Economy: A Case Study of Port Canaveral, Florida

Tourism Economics ◽

10.5367/000000002101298124 ◽

2002 ◽

Vol 8 (3) ◽

pp. 281-288 ◽

Cited By ~ 39

Author(s):

Bradley M. Braun ◽

James A. Xander ◽

Kenneth R. White

Keyword(s):

Economic Impact ◽

Survey Data ◽

Input Output ◽

Significant Component ◽

Cruise Industry ◽

Us Economy ◽

The Us ◽

Cruise Line ◽

The Impact

The cruise industry has become a significant component of the US economy, and Port Canaveral has become the second largest cruise port in the country. This study focuses on the special considerations that must be taken into account in measuring the direct spending of the cruise industry, and uses a regional input–output model to estimate the total economic impact. The impacts are based on survey data for the following three groups: cruise line spending; cruise passenger spending; and ships' crew spending.

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Epidemiological and Economic Impact of COVID-19 in the US

10.1101/2020.11.28.20239517 ◽

2020 ◽

Author(s):

Jiangzhuo Chen ◽

Anil Vullikanti ◽

Joost Santos ◽

Srinivasan Venkatramanan ◽

Stefan Hoops ◽

...

Keyword(s):

Labor Supply ◽

Economic Impact ◽

Disease Model ◽

Economic Loss ◽

Professional Services ◽

Economic Losses ◽

Us Economy ◽

Trade Offs ◽

The Us ◽

Epidemiological Impact

AbstractThis research measures the epidemiological and economic impact of COVID-19 spread in the US under different mitigation scenarios, comprising of non-pharmaceutical interventions. A detailed disease model of COVID-19 is combined with a model of the US economy to estimate the direct impact of labor supply shock to each sector arising from morbidity, mortality, and lockdown, as well as the indirect impact caused by the interdependencies between sectors. During a lockdown, estimates of jobs that are workable from home in each sector are used to modify the shock to labor supply. Results show trade-offs between economic losses, and lives saved and infections averted are non-linear in compliance to social distancing and the duration of lockdown. Sectors that are worst hit are not the labor-intensive sectors such as Agriculture and Construction, but the ones with high valued jobs such as Professional Services, even after the teleworkability of jobs is accounted for. Additionally, the findings show that a low compliance to interventions can be overcome by a longer shutdown period and vice versa to arrive at similar epidemiological impact but their net effect on economic loss depends on the interplay between the marginal gains from averting infections and deaths, versus the marginal loss from having healthy workers stay at home during the shutdown.

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