The Medium-Term Economic Impact of COVID-19 in Luxembourg

Michal Burzynski

The Medium-Term Economic Impact of COVID-19 in Luxembourg

Research output: Other contribution

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Abstract

The economy of Luxembourg has been drastically affected by the COVID-19 pandemic in 2020. STATEC reports a slump in gross domestic product (GDP) by more than 7% in the second quarter of 2020 (2Q2020), while the unemployment rate is expected to increase from 5.6% to 6.5% by the end of 2020. As the spread of COVID-19 continues, hundreds of new cases are reported every day in Luxembourg, and infections skyrocket in all European Union (EU) member states. The chances of improving the economic prospects in the coming months are slim, as authorities in many countries implement mild lockdowns. In this policy brief, we quantify the mediumterm economic implications of the COVID-19 crisis, with a focus on the economy of Luxembourg.

Original language	English
Publisher	LISER
Number of pages	4
Place of Publication	Esch-sur-Alzette
Publication status	Published - 17 Dec 2020

Publication series

Name	Policy Brief
Publisher	LISER
No.	11
ISSN (Electronic)	2716-7437

Keywords

COVID-19
economic impact
Luxembourg

LISER Collections

Policy Brief

Access to Document

policy-brief_11.02Final published version, 398 KB

MODVid: Modeling the macroeconomic and distributional effects of COVID-19 and restarting scenarios
Docquier, F., Burzynski, M., Beine, M., Magni, S., Peroni, C., Van Kerm, P., Islam, N., Lorentz, N., Leduc, K., Sologon, D., Machado, J., Linden, J. & Kyzyma, I.
Luxembourg National Research Fund (FNR), Luxembourg Institute of Socio-Economic Research (LISER)
15/06/20 → 14/12/20
Project: Research

Cite this

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The Medium-Term Economic Impact of COVID-19 in Luxembourg

Abstract

Publication series

Keywords

LISER Collections

Access to Document

Projects

MODVid: Modeling the macroeconomic and distributional effects of COVID-19 and restarting scenarios

Cite this