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After Effects Of The Covid 19 Pandemic Prospects For Medium Term Economic Damage
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Book Synopsis After-Effects of the COVID-19 Pandemic: Prospects for Medium-Term Economic Damage by : Mr. Philip Barrett
Download or read book After-Effects of the COVID-19 Pandemic: Prospects for Medium-Term Economic Damage written by Mr. Philip Barrett and published by International Monetary Fund. This book was released on 2021-07-30 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic has led to a severe global recession with differential impacts within and across countries. This paper examines the possible persistent effects (scarring) of the pandemic on the economy and the channels through which they may occur. History suggests that deep recessions often leave long-lived scars, particularly to productivity. Importantly, financial instabilities—typically associated with worse scarring—have been largely avoided in the current crisis so far. While medium-term output losses are anticipated to be lower than after the global financial crisis, they are still expected to be substantial. The degree of expected scarring varies across countries, depending on the structure of economies and the size of the policy response. Emerging market and developing economies are expected to suffer more scarring than advanced economies.
Book Synopsis Will the Economic Impact of COVID-19 Persist? Prognosis from 21st Century Pandemics by : Johannes Emmerling
Download or read book Will the Economic Impact of COVID-19 Persist? Prognosis from 21st Century Pandemics written by Johannes Emmerling and published by International Monetary Fund. This book was released on 2021-04-30 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: COVID-19 has had a disruptive economic impact in 2020, but how long its impact will persist remains unclear. We offer a prognosis based on an analysis of the effects of five previous major epidemics in this century. We find that these pandemics led to significant and persistent reductions in disposable income, along with increases in unemployment, income inequality and public debt-to-GDP ratios. Energy use and CO2 emissions dropped, but mostly because of the persistent decline in the level of economic activity rather than structural changes in the energy sector. Applying our empirical estimates to project the impact of COVID-19, we foresee significant scarring in economic performance and income distribution through 2025, which be associated with an increase in poverty of about 75 million people. Policy responses more effective than those in the past would be required to forestall these outcomes.
Book Synopsis Global Economic Prospects, June 2020 by : World Bank Group
Download or read book Global Economic Prospects, June 2020 written by World Bank Group and published by World Bank Publications. This book was released on 2020-07-07 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic has, with alarming speed, dealt a heavy blow to an already-weak global economy, which is expected to slide into its deepest recession since the second world war, despite unprecedented policy support. The global recession would be deeper if countries take longer to bring the pandemic under control, if financial stress triggers defaults, or if there are protracted effects on households and firms. Economic disruptions are likely to be more severe and protracted in emerging market and developing economies with larger domestic outbreaks and weaker medical care systems; greater exposure to international spillovers through trade, tourism, and commodity and financial markets; weaker macroeconomic frameworks; and more pervasive informality and poverty. Beyond the current steep economic contraction, the pandemic is likely to leave lasting scars on the global economy by undermining consumer and investor confidence, human capital, and global value chains. Being mostly a reflection of the recent plunge in global energy demand, low oil prices are unlikely to provide much of a boost to global growth in the near term. While policymakers' immediate priorities are to address the health crisis and moderate the short-term economic losses, the likely long-term consequences of the pandemic highlight the need to forcefully undertake comprehensive reform programs to improve the fundamental drivers of economic growth, once the crisis abates. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by these economies, while the June edition contains shorter analytical pieces.
Book Synopsis THE IMPACT OF THE COVID- 19 PANDEMIC ON THE GLOBAL ECONOMY by : Pooyan Ghamari
Download or read book THE IMPACT OF THE COVID- 19 PANDEMIC ON THE GLOBAL ECONOMY written by Pooyan Ghamari and published by Pooyan Ghamari. This book was released on 2023-03-13 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Impact of Covid-19 Pandemic on the Global Economy" by Pooyan Ghamari is an e-book that covers various aspects of the economic impact of the pandemic. The book consists of 15 chapters, including an introduction and a conclusion. Chapter 2 discusses the effects of the Covid-19 pandemic on developing countries, including the challenges they face in responding to the pandemic and the potential long-term economic consequences. Chapter 3 focuses on the role of international organizations, such as the World Health Organization and the International Monetary Fund, in responding to the pandemic and mitigating its economic impact. Chapters 4 to 9 examine the economic impact of the pandemic on specific countries and industries, including Brazil, India, the tourism industry, global trade, healthcare systems, and the labor market. Chapter 10 discusses how technology has played a role in mitigating the pandemic's impact on economies and countries worldwide. Chapter 11 analyzes the effectiveness of public health policies implemented to mitigate the spread of Covid-19 and their impact on the economy. Chapter 12 looks at the effect of the pandemic on small businesses and the support they require to recover. Chapter 13 compares the response of different governments worldwide to the pandemic and their effectiveness. Chapter 14 discusses the effect of the pandemic on mental health and its potential long-term consequences. Chapter 15 concludes the e-book by summarizing the key findings and providing recommendations for future research. It also explores potential investment opportunities arising from the pandemic, such as in healthcare or technology. Overall, "The Impact of Covid-19 Pandemic on the Global Economy" provides a comprehensive overview of the pandemic's economic impact, covering a wide range of topics and countries. It also provides insights into the lessons learned from the pandemic and how to prepare for similar global crises in the future.
Book Synopsis Recoveries After Pandemics: The Role of Policies and Structural Features by : Juan Pablo Cuesta Aguirre
Download or read book Recoveries After Pandemics: The Role of Policies and Structural Features written by Juan Pablo Cuesta Aguirre and published by International Monetary Fund. This book was released on 2021-07-09 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: To shed light on the possible scarring effects from Covid-19, this paper studies the economic effects of five past pandemics using local projections on a sample of fifty-five countries over 1990-2019. The findings reveal that pandemics have detrimental medium-term effects on output, unemployment, poverty, and inequality. However, policies can go a long way toward alleviating suffering and fostering an inclusive recovery. The adverse output effects are limited for countries that provided relatively greater fiscal support. The increases in unemployment, poverty, and inequality are likewise lower for countries with relatively greater fiscal support and relatively stronger initial conditions (as defined by higher formality, family benefits, and health spending per capita).
Book Synopsis Social, Health, and Economic Impacts of the COVID-19 Pandemic and the Epidemiological Control Measures by : Axel Börsch-Supan
Download or read book Social, Health, and Economic Impacts of the COVID-19 Pandemic and the Epidemiological Control Measures written by Axel Börsch-Supan and published by Walter de Gruyter GmbH & Co KG. This book was released on 2023-10-23 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic posed a major threat to the well-being of older Europeans. Its economic and social effects, however, varied across countries. This multidisciplinary book presents the first results of analyses that combined the renowned longitudinal database of SHARE with new data from two telephone surveys that were uniquely conducted during the pandemic. The analyses address important policy-related issues, such as: Did social distancing destabilize family and social support networks? Did the pandemic increase health, social and economic inequality? Who had to forego essential health care because of the pandemic? Did lockdown affect one's physical and mental health? Did the shift towards remote work affect workload and well-being? Were different housing conditions related to the spread of the virus?
Book Synopsis The Economics of COVID-19 by : Moosa, Imad A.
Download or read book The Economics of COVID-19 written by Moosa, Imad A. and published by Edward Elgar Publishing. This book was released on 2021-11-16 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely book explores the neglected risk in the advent of the Covid-19 pandemic, illustrating the ways in which four decades of neoliberal economic and public policy has eroded the functional capacity of states to handle catastrophic events.
Book Synopsis Macro-Financial Implications of the COVID-19 Pandemic by : Erik Feyen
Download or read book Macro-Financial Implications of the COVID-19 Pandemic written by Erik Feyen and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the macro-financial implications of the COVID-19 pandemic. The pandemic represents a massive macro-economic demand and supply shock with significant adverse ramifications for global economic growth, employment, and poverty and demands an unprecedented response by national policy makers and international organizations. Prior to the outbreak of the pandemic, many economies already displayed increased macro-financial vulnerabilities in the form of high levels of debt of households, businesses, and the public sector, secular stagnation of economic growth, and an extended period of quantitative easing and low interest rates. The economic impact of the pandemic in the form of a global recession due to social distancing measures, losses of revenue and income for households, businesses, and the public sector, increased public spending to manage the health impacts, contain the pandemic, and protect vulnerable businesses, households, state-owned enterprises, and public entities adds significantly to pre-existing macro-financial vulnerabilities. Managing these vulnerabilities will be critical for a resilient recovery from the COVIC-19 pandemic, requiring a range of short- and medium term macro-financial policy measures.
Book Synopsis The Effects of COVID-19 on the Global and Domestic Economy by : Magnus Strömberg
Download or read book The Effects of COVID-19 on the Global and Domestic Economy written by Magnus Strömberg and published by Nova Snova. This book was released on 2021-08-03 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the year since the COVID-19 outbreak was first diagnosed, it has spread to over 200 countries and all U.S. states. The pandemic has negatively affected global economic growth beyond anything experienced in nearly a century. Estimates so far indicate the virus reduced global economic growth to an annualized rate of -4.5% to -6.0% in 2020, with a partial recovery of 2.5% to 5.2% projected for 2021. Global trade is estimated to have fallen by 5.3% in 2020, but is projected to grow by 8.0% in 2021. The full economic impact of the pandemic likely will remain unclear until the negative health effects peak. This book provides an overview of the global and domestic economic costs to date and the response by governments and international institutions to address these effects.
Book Synopsis Economic Impact and Recovery Following a Global Health Crisis by : Sloboda, Brian W.
Download or read book Economic Impact and Recovery Following a Global Health Crisis written by Sloboda, Brian W. and published by IGI Global. This book was released on 2022-01-14 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic has raised challenges in the assessment of macroeconomic and microeconomic impacts. The impacts of COVID-19 on the macro and micro sectors of the economy and the current and future economic tendencies have yet to be determined. The impact of COVID-19 research holds limitless potential, but the necessary research for professionals to understand the economic impacts is lacking and unclear. Economic Impact and Recovery Following a Global Health Crisis assesses the economic impacts of the COVID-19 pandemic with a focus on the macroeconomic and microeconomic and uses various statistical methods and real-world data to predict and establish specific trends within the economy. Covering topics such as firm behavior and national economies, it is ideal for policymakers, industry professionals, researchers, academicians, instructors, and students.
Book Synopsis Economics in the Age of COVID-19 by : Joshua Gans
Download or read book Economics in the Age of COVID-19 written by Joshua Gans and published by MIT Press. This book was released on 2020-05-19 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: A guide to the pandemic economy: essential reading about the long-term implications of our current crisis. The COVID-19 pandemic has unleashed a firehose of information (much of it wrong) and an avalanche of opinions (many of them ill-founded). Most of us are so distracted by the everyday awfulness that we don't see the broader issues in play. In this book, economist Joshua Gans steps back from the short-term chaos to take a clear and systematic look at how economic choices are being made in response to COVID-19. He shows that containing the virus and pausing the economy—without letting businesses fail and people lose their jobs—are the necessary first steps.
Book Synopsis Global Productivity by : Alistair Dieppe
Download or read book Global Productivity written by Alistair Dieppe and published by World Bank Publications. This book was released on 2021-06-09 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD
Book Synopsis Pandemic Economics by : Peter A.G. van Bergeijk
Download or read book Pandemic Economics written by Peter A.G. van Bergeijk and published by Edward Elgar Publishing. This book was released on 2021-03-26 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discussing the Spanish Flu, HIV/AIDs, SARS and Ebola against the background of Covid-19, Pandemic Economics demonstrates how scientists consistently warned the world about pandemics, and how, despite this, the possibility of global lockdown caused unprecedented economic policies and ruin. The book prepares for the next pandemic, that unquestionably will arrive, the impact of which is predicted to potentially exceed that of the current Covid-19 wreckage.
Book Synopsis Global Economic Prospects, June 2021 by : World Bank
Download or read book Global Economic Prospects, June 2021 written by World Bank and published by World Bank Publications. This book was released on 2021-08-03 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominent among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth. This year marks the 30th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.
Book Synopsis Revisiting Covid Scarring in Emerging Markets by : Chris Jackson
Download or read book Revisiting Covid Scarring in Emerging Markets written by Chris Jackson and published by International Monetary Fund. This book was released on 2023-08-04 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Covid-19 pandemic is expected to result in large and persistent losses in economic output, known as scarring. These losses were expected to be more severe in Emerging Markets than in Advanced Economies. This paper examines the impact of Covid on output in Emerging Markets so far and its implications for projections of economic scarring. While Covid has had a material impact on activity, the recovery has been stronger than initially expected. We find that these positive data surprises have over time been treated increasingly as transitory rather than a signal for the state of scarring. Second, we show that the composition of output losses has been qualitatively different from past last shocks. History suggests that the main driver of scarring is weak productivity. Covid losses, however, have so far been more skewed to employment with a smaller than usual impact on productivity. We argue that these findings suggest that scarring, while substantial, may be ultimately less severe than initially feared, at least over the medium term. We provide alternative sets of medium-term projections to indicate potential magnitudes.
Book Synopsis The Impact of the Covid-19 Pandemic on People and their Lives by : R C Sobti
Download or read book The Impact of the Covid-19 Pandemic on People and their Lives written by R C Sobti and published by Taylor & Francis. This book was released on 2023-09-25 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the unparalleled adversities and strain that the COVID-19 pandemic caused on the social and economic lives of people. The book allows readers a glimpse into the experiences of death of near and dears, loss of livelihood, psychological trauma, restrictions on movement and social life, shifts in international relations, and effects on big and small industries caused by the pandvnemic. It focusses on the major shifts caused within communities and highlights how politics, power dynamics, and socio-cultural systems have been reset and recovered during recent times. The volume also offers suggestions to offset economic hardships the pandemic has caused especially to the poor and marginalized as well as policy changes to help governments and communities to build more resilient economic and health infrastructure and support systems. With interdisciplinary contributions, this book is an essential read for students and researchers of public health, social sciences, health economics, healthcare management, development studies, public policy, and South Asian studies.
Book Synopsis The Political Economy of Covid-19 by : Jonathan Michie
Download or read book The Political Economy of Covid-19 written by Jonathan Michie and published by Taylor & Francis. This book was released on 2022-08-18 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive book brings together research published during 2021 analysing the impact of the Covid-19 pandemic on the economy – on output and employment, on inequality, and on public policy responses. The Covid-19 pandemic has been the greatest public health crisis for a century – since the ‘Spanish Flu’ pandemic of 1919. The economic impact has been equally seismic. While it is too early to measure the full economic cost – since much of this will continue to accumulate for some time to come – it will certainly be one of the greatest global economic shocks of the past century. Some chapters in this edited volume report on specific countries, while some take a comparative look between countries, and others analyse the impact upon the global economy. Even before the Covid-19 pandemic, there had been calls for a ‘great reset’ in face of the climate crisis, the increased income and wealth inequality, and the need to avoid further global financial crisis. With the devastating Covid-19 pandemic – a harbinger for further such pandemics – there is an even greater need for a reset, and for the reset to be that much greater. The chapters in this book were originally published as special issues in the journal International Review of Applied Economics.
