Earthquake hit regions would be a better example because it captures the avoidance behaviour to after-shocks as a proxy for the collapse of international tourism and international education
In 2005, Hurricane Katrina hit New Orleans in the US state of Louisiana. The hurricane caused enormous material destruction and about 2,000 people perished.
While Katrina obviously cannot be compared to Covid19 in terms material devastation and death it nonetheless is comparable in terms of the sudden the “shutdown” of the economy.
Katrina was a very clear case of a supply shock. Production facilities were simply shut down. And in the same way as today, it happened from one day to the next.
But nothing really had happened to the fundamentals of the economy – this to a large extent is also the case in terms of the Covid19 around the world.
Katrina was a huge, but very short-lived economic shock
If we look at how things were going for Louisiana’s economy in 2005-6, then you will see that in economic terms, it was a huge negative shock, but the…
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Utopia, you are standing in it! 
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