Economic Consequences of School Closure

WIFO Research Brief by Julia Bock-Schappelwein and Ulrike Famira-Mühlberger
There is profound empirical evidence of the positive effect of school attendance and acquired skills on individual and social well-being. School closures over several weeks have proven to have negative effects on the later labour market success of the children concerned.

Macroeconomically, education is the most important determinant for the development of economic growth and thus for the long-term prosperity of a society, since education is an investment in the knowledge and skills of the population. Thus, there is very much at stake for the education policy in the COVID-19 crisis – at the individual level, but also at the level of society as a whole.

WIFO Research Briefs
Finalization: November 2020
Contractor project: Federal Ministry of Education, Science and Research
Specialist publication: WIFO Research Briefs