COVID-19 and airline employment: Insights from historical uncertainty shocks to the industry

Sobieralski, Joseph B.

doi:10.1016/j.trip.2020.100123

Cited by 214 publications

(183 citation statements)

References 29 publications

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“…There are also a limited, but growing, number of studies focusing on the impact of recent COVID-19 pandemic on the transportation sector (e.g., De Vos, 2020 ; Ito et al, 2020 ; Lee and Lee, 2020 ; Molloy et al, 2020 ; Sobieralski, 2020 ). In particular, there exists a dearth of research on the changes in travel patterns caused by the current COVID-19 pandemic.…”

Section: Introductionmentioning

confidence: 99%

“…Focusing on the airline industry in the U.S., Sobieralski (2020) studied the interactions among economic and industry variables in the COVID-19 pandemic in which reductions in capacity of airlines are growing, and the post-stimulus employment requirements expire. The author found that the estimated job loss in the airline industry is around 7% of the airline workforce, with an upper bound of over 13%.…”

Section: Introductionmentioning

confidence: 99%

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How is COVID-19 reshaping activity-travel behavior? Evidence from a comprehensive survey in Chicago

Shamshiripour

Rahimi

Shabanpour

et al. 2020

Transportation Research Interdisciplinary Perspectives

422

328

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The novel COVID-19 pandemic has caused upheaval around the world and has led to drastic changes in our daily routines. Long-established routines such as commuting to workplace and in-store shopping are being replaced by telecommuting and online shopping. Many of these shifts were already underway for a long time, but the pandemic has accelerated them remarkably. This research is an effort to investigate how and to what extent people's mobility-styles and habitual travel behaviors have changed during the COVID-19 pandemic and to explore whether these changes will persist afterward or will bounce back to the pre-pandemic situation. To do so, a stated preference-revealed preference (SP-RP) survey is designed and implemented in the Chicago metropolitan area. The survey incorporates a comprehensive set of questions associated with individuals' travel behaviors, habits, and perceptions before and during the pandemic, as well as their expectations about the future. Analysis of the collected data reveals significant changes in various aspects of people's travel behavior. We also provide several insights for policymakers to be able to proactively plan for more equitable, sustainable, and resilient cities.

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Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

How is COVID-19 reshaping activity-travel behavior? Evidence from a comprehensive survey in Chicago

Shamshiripour

Rahimi

Shabanpour

et al. 2020

Transportation Research Interdisciplinary Perspectives

422

328

View full text Add to dashboard Cite

show abstract

“…As on 8th August 2020, 19.5 million people around the world are affected due to the Novel Coronavirus (SARS-CoV-2) pandemic that started in Wuhan city, China, in early December 2019 ( Lipsitch et al, 2020 ; Sohrabi et al, 2020 ; Jiang et al, 2020 ; Huang et al, 2020 ). In addition to its severe effects on human health and life, the virus has potentially impacted the transportation system ( Rodríguez-Morales et al, 2020 ; Bogoch et al, 2020 ; Sobieralski, 2020 ). Avoiding physical contacts and reducing interaction between individuals (i.e., physical distancing) became a compulsory norm in most of the countries ( Vos, 2020 ; Wilder-Smith and Freedman, 2020 ).…”

Section: Introductionmentioning

confidence: 99%

Impact of physical distancing due to novel coronavirus (SARS-CoV-2) on daily travel for work during transition to lockdown

Pawar

Yadav

Akolekar

et al. 2020

Transportation Research Interdisciplinary Perspectives

128

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The outbreak of COVID-19 pandemic has resulted in change in both commute and personal travel patterns. Though, in India, lockdown was implemented from 25th March 2020, due to self-awareness and pandemic risk perception, change in commuter behavior was observed from the beginning of March 2020. The period from 15th to 24th March 2020 is considered as the transition phase of COVID-19 outbreak in India (i.e., between no lockdown and lockdown period). This study attempts to use a decision tree approach to investigate the modal preference of 1542 commuters in association with socio-economic and travel characteristics, and safety perceptions with respect to public and private modes during transition to lockdown due to COVID-19 in India. About 41% of commuters stopped traveling during the transition to lockdown phase, 51.3% were using the same mode of transport and 5.3% of commuters shifted from public to private mode. The study findings reported different interactions of factors influencing the decision to use public or private modes of transport for daily commuting during pandemic situations like COVID-19. Interestingly, safety perceptions (associated with personal health) of commuters did not play a significant role in their mode choice behavior during the transition phase. Though people perceived public transportation as unsafe over personal vehicle use, the actual commute patterns did not validate this due to a possible reason that commuters do not have enough alternative modes. Given the uncertainties in the decision making of the commuters regarding their travel behavior due to physical distancing, the insights from this study are important to policymakers and local transport authorities to understand the change in travel patterns.

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“…Since the outbreak of the COVID-19 pandemic, various studies were conducted to investigate its effect on the economy, including its impact on the correlations between crude oil and agricultural futures [ 1 ], co-movement between COVID-19 and Bitcoin [ 2 ], the tourism industry [ 3 ], the covariance between temperature, COVID-19 and exchange rate in Wuhan [ 4 ], Italian manufacturing firms [ 5 ], B2B sales forces [ 6 ], efficiency of equity and cryptocurrency markets [ 7 ], airline employment [ 8 ], entrepreneurial uncertainty [ 9 ], consumer behavior [ 10 ], marketing innovations [ 11 ], corporate social responsibility and marketing [ 12 ], and randomness and mutual information between markets [ 13 ], to name few. In addition, other interesting studies focused on the forecasting of new cases [ 14 ] and knowledge sharing and collaboration for preparedness to fight the pandemics [ 15 ].…”

Section: Introductionmentioning

confidence: 99%

Randomness, Informational Entropy, and Volatility Interdependencies among the Major World Markets: The Role of the COVID-19 Pandemic

Lahmiri

Bekiros

2020

Entropy

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The main purpose of our paper is to evaluate the impact of the COVID-19 pandemic on randomness in volatility series of world major markets and to examine its effect on their interconnections. The data set includes equity (Bitcoin and Standard and Poor’s 500), precious metals (Gold and Silver), and energy markets (West Texas Instruments, Brent, and Gas). The generalized autoregressive conditional heteroskedasticity model is applied to the return series. The wavelet packet Shannon entropy is calculated from the estimated volatility series to assess randomness. Hierarchical clustering is employed to examine interconnections between volatilities. We found that (i) randomness in volatility of the S&P500 and in the volatility of precious metals were the most affected by the COVID-19 pandemic, while (ii) randomness in energy markets was less affected by the pandemic than equity and precious metal markets. Additionally, (iii) we showed an apparent emergence of three volatility clusters: precious metals (Gold and Silver), energy (Brent and Gas), and Bitcoin and WTI, and (iv) the S&P500 volatility represents a unique cluster, while (v) the S&P500 market volatility was not connected to the volatility of Bitcoin, energy, and precious metal markets before the pandemic. Moreover, (vi) the S&P500 market volatility became connected to volatility in energy markets and volatility in Bitcoin during the pandemic, and (vii) the volatility in precious metals is less connected to volatility in energy markets and to volatility in Bitcoin market during the pandemic. It is concluded that (i) investors may diversify their portfolios across single constituents of clusters, (ii) investing in energy markets during the pandemic period is appealing because of lower randomness in their respective volatilities, and that (iii) constructing a diversified portfolio would not be challenging as clustering structures are fairly stable across periods.

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COVID-19 and airline employment: Insights from historical uncertainty shocks to the industry

Cited by 214 publications

References 29 publications

How is COVID-19 reshaping activity-travel behavior? Evidence from a comprehensive survey in Chicago

How is COVID-19 reshaping activity-travel behavior? Evidence from a comprehensive survey in Chicago

Impact of physical distancing due to novel coronavirus (SARS-CoV-2) on daily travel for work during transition to lockdown

Randomness, Informational Entropy, and Volatility Interdependencies among the Major World Markets: The Role of the COVID-19 Pandemic

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