01859cas a2200229 a 4500 AALejournalIMF021467 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513567013 1018-5941 BD-DhAAL BD-DhAAL Initial Output Losses from the Covid-19 Pandemic : Robust Determinants. Washington, D.C. : International Monetary Fund, 2021. 1 online resource (53 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students While the COVID-19 pandemic is affecting all countries, output losses vary considerably across countries. We provide a first analysis of robust determinants of observed initial output losses using model-averaging techniques-Weighted Average Least Squares and Bayesian Model Averaging. The results suggest that countries that experienced larger output losses are those with lower GDP per capita, more stringent containment measures, higher deaths per capita, higher tourism dependence, more liberalized financial markets, higher pre-crisis growth, lower fiscal stimulus, higher ethnic and religious fractionalization and more democratic regimes. With respect to the first factor, lower resilience of poorer countries reflects the higher economic costs of containment measures and deaths in such countries and less effective fiscal and monetary policy stimulus. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2021/018 Full text available on IMF http://elibrary.imf.org/view/journals/001/2021/018/001.2021.issue-018-en.xml IMF e-Library