Potential Implications of the Pandemic on Medium Term Productivity

Authors

Pakasa Bary, Bank IndonesiaFollow
Pandu Kuntoaji, Bank IndonesiaFollow
Dwi F. Multiretno, Bank IndonesiaFollow
IGP Wira Kusuma, Bank Indonesia - IndonesiaFollow

Document Type

Article

Abstract

This study analyses the potential medium-term impact of the pandemic to productivity and macroeconomy. It simulates the impact of the pandemic on productivity, labor and macroeconomic dynamics. The simulation is carried out using simple variations of real business cycle models, with shock on consumption-leisure preference which are endogenously responded by technology. Simulation results are consistent with macroeconomic dynamics observed during the pandemic and therefore may imply medium term prospects. In addition, permanent application of technology to replace pandemic-related labour restrictions is superior for medium-term growth.

Recommended Citation

Bary, Pakasa; Kuntoaji, Pandu; Multiretno, Dwi F.; and Kusuma, IGP Wira (2025) "Potential Implications of the Pandemic on Medium Term Productivity," Bulletin of Monetary Economics and Banking: Vol. 28: No. 1, Article 4.
DOI: https://doi.org/10.59091/2460-9196.2358
Available at: https://bulletin.bmeb-bi.org/bmeb/vol28/iss1/4

First Page

57

Last Page

84

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License

Country

Indonesia

Affiliation

Bank Indonesia