'Potential capital', working from home, and economic resilience
The impact of an economic shock depends both on its severity and the resilience of the response. The COVID-19 pandemic caused a widespread decline in recorded GDP, but this was buffered by an unprecedented and spontaneous deployment of ‘potential capital’ – the dwelling/residential capital and connective technologies used while working from home. This column estimates that
United Kingdom Resilient Society Actual Output National Accounts Labour Reallocation Working From Home
Source: voxeu.org