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CONTACT-INTENSITY, DISRUPTIONS IN THE CULTURAL SECTOR AND WAGE INEQUALITY: A MODEL OF COVID-19 CRISIS AND ITS IMPACT
- Authors
- Marjit, Sugata; Das, Gouranga G.
- Issue Date
- Apr-2024
- Publisher
- World Scientific
- Keywords
- contact-intensive; COVID-19; cultural sector; general equilibrium; quasi-specific; social-distancing; Wage-gap
- Citation
- Singapore Economic Review
- Indexed
- SSCI
SCOPUS
- Journal Title
- Singapore Economic Review
- ISSN
- 0217-5908
1793-6837
- Abstract
- COVID-19 has adverse impacts on contact-intensive sectors, viz., manufacturing, tourism, and the entertainment sector (ES). In a general equilibrium (GE) model with online, entertainment and informal sectors employing skill, unskilled, and capital, we show that COVID-19 could cause polarization pushing contact-intensive entertainment industry on the brink of collapse while the other two survive. Dual roles of factor intensity and contact intensity (CI) contribute to such finite changes, triggering inter-skill wage inequality. This is the first of its kind to offer a theoretical mechanism capturing the contractionary effects on contact-intensive sectors and wage inequality. These results match with the literature emphasizing the hardships faced by the cultural sector. © World Scientific Publishing Company.
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Related Researcher
- DAS, Gouranga
- COLLEGE OF BUSINESS AND ECONOMICS (DEPARTMENT OF ECONOMICS)