Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/272040 
Year of Publication: 
2023
Series/Report no.: 
CESifo Working Paper No. 10396
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Abstract: 
This paper uses a new measure of human capital, which distinguishes both quality and quantity components, to estimate the long-term effect of the Covid-19-related school closures on aggregate productivity through the human capital channel. Productivity losses build up over time and are estimated to range between 0.4% and 2.1% after 45 years, for 12 weeks and 2 years of school closure, respectively. These results appear to be broadly consistent with earlier findings in the literature. Two opposing effects might influence these estimates. Online teaching would lower economic costs while learning losses in tertiary education (not considered here) would inflate them. Policies aimed at improving the quality of education and adult training will be needed to offset or, at least, alleviate the impact of the pandemic on human capital.
Subjects: 
Covid-19
human capital
PISA
PIAAC
productivity
education policies
OECD countries
JEL: 
E24
I19
I20
I25
I26
I28
Document Type: 
Working Paper
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