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The Economic Effect Of Covid 19 Containment Measures
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Book Synopsis The Economic Effects of COVID-19 Containment Measures by : Pragyan Deb
Download or read book The Economic Effects of COVID-19 Containment Measures written by Pragyan Deb and published by . This book was released on 2020-08-07 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Containment measures are crucial to halt the spread of the 2019 COVID-19 pandemic but entail large short-term economic costs. This paper tries to quantify these effects using daily global data on real-time containment measures and indicators of economic activity such as Nitrogen Dioxide (NO2) emissions, flights, energy consumption, maritime trade, and mobility indices. Results suggest that containment measures have had, on average, a very large impact on economic activity--equivalent to a loss of about 15 percent in industrial production over a 30-day period following their implementation. Using novel data on fiscal and monetary policy measures used in response to the crisis, we find that these policy measures were effective in mitigating some of these economic costs. We also find that while workplace closures and stay-at-home orders are more effective in curbing infections, they are associated with the largest economic costs. Finally, while easing of containment measures has led to a pickup in economic activity, the effect has been lower (in absolute value) than that from the tightening of measures.
Book Synopsis The Economic Effect of COVID-19 Containment Measures by : Pragyan Deb
Download or read book The Economic Effect of COVID-19 Containment Measures written by Pragyan Deb and published by . This book was released on 2020 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Containment measures are crucial to halt the spread of the 2019 COVID-19 pandemic but entail large short-term economic costs. This paper tries to quantify these effects using daily global data on real-time containment measures and indicators of economic activity such as Nitrogen Dioxide (NO2) emissions, flights, energy consumption, maritime trade, and mobility indices. Results suggest that containment measures have had, on average, a very large impact on economic activity -- equivalent to a loss of about 15 percent in industrial production over a 30-day period following their implementation. Using novel data on fiscal and monetary policy measures used in response to the crisis, we find that these policy measures were effective in mitigating some of these economic costs. We also find that while workplace closures and stayat- home orders are more effective in curbing infections, they are associated with the largest economic costs. Finally, while easing of containment measures has led to a pickup in economic activity, the effect has been lower (in absolute value) than that from the tightening of measures.
Book Synopsis The Economic Effects of COVID-19 Containment Measures by : Pragyan Deb
Download or read book The Economic Effects of COVID-19 Containment Measures written by Pragyan Deb and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Activity, Fiscal Space and Types of COVID-19 Containment Measures by : Amr Hosny
Download or read book Economic Activity, Fiscal Space and Types of COVID-19 Containment Measures written by Amr Hosny and published by International Monetary Fund. This book was released on 2022-01-28 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper argues that the type of COVID-19 containment measures affects the trade-offs between infection cases, economic activity and sovereign risk. Using local projection methods and a year and a half of high-frequency daily data covering 44 advanced and emerging economies, we find that smart (e.g. testing) as opposed to physical (e.g. lockdown) measures appear to be best placed to tackle these trade-offs. Initial conditions also matter whereby containment measures can be less disruptive when public health response time is fast and public debt is low. We also construct a database of daily fiscal announcements for Euro area countries, and find that sovereign risk is improved under a combination of large support packages and smart measures.
Book Synopsis COVID-19 Containment Measures and Expected Stock Volatility: High-Frequency Evidence from Selected Advanced Economies by : Viral V. Acharya
Download or read book COVID-19 Containment Measures and Expected Stock Volatility: High-Frequency Evidence from Selected Advanced Economies written by Viral V. Acharya and published by International Monetary Fund. This book was released on 2021-06-04 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the effect of COVID-19 containment measures on expected stock price volatility in some advanced economies, using event studies with hand-collected minute-level data and panel regressions with daily data. We find that six-month-ahead volatility indices dropped following announcements of initial or re-imposed lockdowns, and that they did not drop significantly following the easing of lockdowns. Such patterns are not as strong for three-month-ahead expected volatility and generally absent for one-month-ahead expected volatility. These results provide suggestive evidence for the existence of an intertemporal trade-off: although stringent containment measures cause short-term economic disruptions, they may reduce medium-term uncertainty (reflected in expected stock volatility) by boosting markets’ confidence that the outbreak would be under control more quickly.
Book Synopsis Economic Impacts of COVID-19 Containment Measures by : Tom Stannard
Download or read book Economic Impacts of COVID-19 Containment Measures written by Tom Stannard and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Impact of COVID-19 Containment Policies by : Xinming Du
Download or read book Economic Impact of COVID-19 Containment Policies written by Xinming Du and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the outbreak of the coronavirus disease (COVID-19) pandemic, governments around the globe have undertaken multiple policies to control its spread. Yet, only a few studies estimated the cost of COVID-19-related stringency measures on economic output, which can be attributable to the time lag and low frequency of conventional economic data. To bridge this gap in the literature, this paper uses novel high-frequency and spatially granular surface urban heat island (SUHI) data from satellites to quantify the impact of COVID-19-related containment policies in the People's Republic of China, exploiting variations in such policies. Three empirical results emerge. First, we find stringency measures decrease urban heat island in locked cities only marginally, which is equivalent to 0.04-0.05 standard deviation or CNY22.2 billion ($3.6 billion) of economic output drop which is a 0.09% annual gross domestic product decline in 2020. Second, our results suggest that governments have been learning continuously to manage containment measures better. Third, the government's containment policies have generated both positive and negative spillover effects on unlocked cities in which the former effect has dominated the latter.
Book Synopsis Domestic and Global Economic Effects of COVID-19 Containment Measures by : Heli Simola
Download or read book Domestic and Global Economic Effects of COVID-19 Containment Measures written by Heli Simola and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis State-Level Health and Economic Impact of COVID-19 in India by : Mr. Pragyan Deb
Download or read book State-Level Health and Economic Impact of COVID-19 in India written by Mr. Pragyan Deb and published by International Monetary Fund. This book was released on 2021-11-19 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: The health and economic impacts of COVID-19 on India have been substantial, with wide variation across states and union territories. This paper quantifies the impact of containment measures and voluntary social distancing on both the spread of the virus and the economy at the state level during the first wave of the COVID-19 pandemic. We construct a de-facto measure of state-level social distancing, combining containment strigency and observed mobility trends. State-level empirical analysis suggests that social distancing and containment measures effectively reduced case numbers, but came with high economic costs. State characteristics, such as health care infrastructure and the share of services in the economy, played an important role in shaping the health and economic outcomes, highlighting the importance of adequate social spending, health care infrastructure, and social safety nets.
Book Synopsis Smart Containment: Lessons from Countries with Past Experience by : Alexandra Fotiou
Download or read book Smart Containment: Lessons from Countries with Past Experience written by Alexandra Fotiou and published by International Monetary Fund. This book was released on 2021-04-23 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the Great Lockdown in 2020, it is important to take stock of lessons learned. How effective have different containment measures been in slowing the spread of Covid-19? Have containment measures been costly in terms of economic growth, fiscal balances, and accumulated debt? This paper finds that countries with previous SARS experience acted fast and "smart", and were able to contain the virus by relying mainly on public health measures ─ testing, contact tracing, and public information campaigns ─ rather than stay-at-home requirements. Using past coronavirus outbreaks as an instrumental variable, we show that countries with past experience were able to contain the virus in a smart way, reducing transmission and deaths while also experiencing higher economic growth in 2020.
Book Synopsis The Effects of COVID-19 Vaccines on Economic Activity by : Mr. Pragyan Deb
Download or read book The Effects of COVID-19 Vaccines on Economic Activity written by Mr. Pragyan Deb and published by International Monetary Fund. This book was released on 2021-10-19 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper empirically examines the economic effects of COVID-19 vaccine rollouts using a cross-country daily database of vaccinations and high frequency indicators of economic activity—nitrogen dioxide (NO2) emissions, carbon monoxide (CO) emissions, and Google mobility indices—for a sample of 46 countries over the period December 16, 2020 to June 20, 2021. Using surprises in vaccines administered, we find that an unexpected increase in vaccination per capita is associated with a significant increase in economic activity. We also find evidence for non-linear effects of vaccines, with the marginal economic benefits being larger when vaccination rates are higher. Country-specific conditions play an important role, with lower economic gains if strict containment measures are in place or if the country is experiencing a severe outbreak. Finally, the results provide evidence of spillovers across borders, highlighting the importance of equitable access to vaccines across nations.
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 Monetary Policy and COVID-19 by : Michal Brzoza-Brzezina
Download or read book Monetary Policy and COVID-19 written by Michal Brzoza-Brzezina and published by International Monetary Fund. This book was released on 2021-11-12 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the macroeconomic effects of the COVID-19 epidemic in a quantitative dynamic general equilibrium setup with nominal rigidities. We evaluate various containment policies and show that they allow to dramatically reduce the welfare cost of the disease. Then we investigate the role that monetary policy, in its capacity to manage aggregate demand, should play during the epidemic. According to our results, treating the observed output contraction as a standard recession leads to overly expansionary policy. Finally, we check how central banks should resolve the trade-off between stabilizing the economy and containing the epidemic. If no administrative restrictions are in place, the second motive prevails and, despite the deep recession, optimal monetary policy is in fact contractionary. Conversely, if sufficient containment measures are introduced, central bank interventions should be expansionary and help stabilize economic activity.
Book Synopsis The Sooner (and the Smarter), the Better: COVID-19 Containment Measures and Fiscal Responses by : Amr Hosny
Download or read book The Sooner (and the Smarter), the Better: COVID-19 Containment Measures and Fiscal Responses written by Amr Hosny and published by International Monetary Fund. This book was released on 2021-03-05 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper finds empirical evidence that faster and smarter containment measures were associated with lower fiscal responses to the COVID-19 shock. We also find that initial conditions, such as fiscal space, income, health preparedness and budget transparency were important in shaping the amount and design of the COVID-19 fiscal response.
Book Synopsis International Capital Markets by : Morris Goldstein
Download or read book International Capital Markets written by Morris Goldstein and published by International Monetary Fund. This book was released on 1994 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Effects of Fiscal Measures During COVID-19
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 Effect of Containment Measures on the COVID-19 Pandemic by : Pragyan Deb
Download or read book The Effect of Containment Measures on the COVID-19 Pandemic written by Pragyan Deb and published by . This book was released on 2020-08-07 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Countries have implemented several containment measures to halt the spread of the 2019coronavirus disease, but it remains unclear the extent to which these unprecedented measureshave been successful. We examine this question using daily data on the number ofcoronavirus disease cases as well as on real-time containment measures implemented bycountries. Results suggest that these measures have been very effective in flattening the"pandemic curve", but there is significant heterogeneity across countries. Effectiveness isenhanced when measures are implemented quickly, where de facto mobility is curtailed, incountries with lower temperatures and population density, as well as in countries with alarger share of the elderly in total population and stronger health systems. We also find thateasing of containment measures has resulted in an increase in the number of cases, but theeffect has been lower (in absolute value) than that from a tightening of measures.
