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ESTIMATING PRODUCTION FUNCTION BEFORE COVID-19 PANDEMIC IN EUROPE
European Integration Studies
The purpose of the study is to discuss consequences of pandemic events for estimating the economic growth mechanism in the European Union. The most recent COVID-19 growing death toll has drawn the attention to impact such unexpected, but not unprecedented situations have on society and economy. In the current study the focus is on estimating economic effects of a disease, which reduces the working population. It turns out that the prominent basic production function framework may fail todoi:10.5755/j01.eis.1.14.26367 fatcat:sud7ovn4bngxhn5exaekrgii2a