Assessment of the demand side pandemic impact on the EU economy in the context of globalization

Abstract

The purpose of this research is to analyze the demand-side economic linkages among EU countries and to estimate the potential impact of a pandemic to EU economies in the context of globalization. The research was conducted based on input-output model, which allows assessing the direct and indirect international economic linkages. These linkages reveal the impact of the pandemic on the output of the countries themselves and their trading partners affected by the restrictions in the air transport, manufacture of motor vehicles, accommodation and food service, health and social work sectors.