NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Oddbjorn Raaum

Ragnar Frisch Centre for Economic Research
Gaustadalleen 21, 0349 Oslo
Norway

E-Mail: oddbjorn.raaum@frisch.uio.no
Institutional Affiliation: Frisch Centre

NBER Working Papers and Publications

May 2020The First Weeks of the Coronavirus Crisis: Who Got Hit, When and Why? Evidence from Norway
with Annette Alstadsæter, Bernt Bratsberg, Gaute Eielsen, Wojciech Kopczuk, Simen Markussen, Knut Røed: w27131
Using real-time register data we document the magnitude, dynamics and socio-economic characteristics of the crisis-induced temporary and permanent layoffs in Norway. We find evidence that the effects of social distancing measures quickly spread to industries that were not directly affected by policy. Close to 90% of layoffs are temporary, although this classification may change as the crisis progresses. Still, there is suggestive evidence of immediate stress on a subset of firms that manifests itself in permanent rather than temporary layoffs. We find that the shock had a strong socio-economic gradient, hit a financially vulnerable population, and parents with younger children, and was driven by layoffs in smaller, less productive, and financially weaker firms. Consequently though, the ris...
 
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