The paper reports calibrated persistence values of 0.8 for the COVID demand shock and 0.9 or 0.95 for the vaccination supply shock in a behavioral DSGE model for India.
(2020), A monetary business cycle model for India, Economic Inquiry, 58(3), 1362–1386
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Behavioral Expectations in New Keynesian DSGE Models: Evidence from India's COVID-19 Recovery and Vaccination Program
The paper reports calibrated persistence values of 0.8 for the COVID demand shock and 0.9 or 0.95 for the vaccination supply shock in a behavioral DSGE model for India.