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Covid -19 crisis in Sweden, a business cycle accounting approach
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Resumo(s)
In this paper we apply the Business Cycle Accounting methodology, developed by Chari et al.
(2007a), to the Covid-19 Crisis in Sweden. The drivers for this business cycle episode may be
explained by four types of distortions, labelled “wedges”, whose quantitative importance to this
crisis is assessed in this paper. The findings show that the efficiency wedge is the distortion that
plays the main role in explaining this crisis, followed by labour and, to a lesser extent,
investment, which also help in explaining those fluctuations, with the investment wedge having
a positive impact in contrast to the other two wedge.
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Palavras-chave
Covid-19 Recession Business cycle accounting Distortions Wedges Efficiency