Journal Article
Future Output Loss from COVID-Induced School Closures
Fernald, John G.; Ochse, Mitchell; Li, Huiyu (2021-02-16)
The COVID-19 pandemic has caused massive disruptions to the U.S. educational system. Research on school closures—particularly combined with parental income loss—implies that children are likely to attain lower levels of lifetime education compared with pre-pandemic trends. Projections show learning disruptions could lower the level of annual economic output ¼ percentage point on average over the next 70 years. The effect is small the first 5–10 years then peaks at a loss of ½ percentage point in about 25 years, when the children reach prime working age.
FRBSF Economic Letter , Volume 2021 , Issue 04 , Pages 01-05