02417cas a2200337 a 4500 AALejournalIMF022562 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513587394 1018-5941 BD-DhAAL BD-DhAAL Das, Sonali. Sectoral Shocks and Spillovers : An Application to COVID-19 / Sonali Das, Giacomo Magistretti, Evgenia Pugacheva, Philippe Wingender. Washington, D.C. : International Monetary Fund, 2021. 1 online resource (26 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 This paper examines the role of sectoral spillovers in propagating sectoral shocks in the broader economy, both in the past and during the COVID-19 pandemic. In particular, we study how shocks that occur within a sector itself and spillovers from shocks to other sectors affect sectoral activity, for a large sample of countries from 1995 to 2014. We find that both supply and demand shocks-measured as changes in, respectively, productivity and government purchases at the sector level-have large spillover effects on sector-level gross value added and on a sector's share of the economy. We then use these historical estimates, together with the network structure of global production, to quantify the spillovers from the economic shock associated with the pandemic. We find spillover effects to be sizeable, making up a significant fraction of the overall decline in activity in 2020.Our results have implications for the design of policies with a sectoral dimension. Mode of access: Internet Business Fluctuations imf Cycles imf Externalities imf General Equilibrium and Disequilibrium imf Macroeconomic Aspects of International Trade and Finance imf Magistretti, Giacomo. Pugacheva, Evgenia. Wingender, Philippe. IMF Working Papers; Working Paper ; No. 2021/204 Full text available on IMF http://elibrary.imf.org/view/journals/001/2021/204/001.2021.issue-204-en.xml IMF e-Library