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The Economic Effects 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 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 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.
Book Synopsis OECD Economic Outlook, Volume 2020 Issue 1 by : OECD
Download or read book OECD Economic Outlook, Volume 2020 Issue 1 written by OECD and published by OECD Publishing. This book was released on 2020-06-10 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: The OECD Economic Outlook is the OECD's twice-yearly analysis of the major economic trends and prospects for the next two years. This issue includes a general assessment of the macroeconomic situation, a series of notes on the macroeconomic and structural policy issues related to the COVID-19 outbreak and a chapter summarising developments and providing projections for each individual country.
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 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 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 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 What Are the Economic Effects of Pandemic Containment Policies? Evidence from Sweden by : Jana Bricco
Download or read book What Are the Economic Effects of Pandemic Containment Policies? Evidence from Sweden written by Jana Bricco and published by . This book was released on 2020-09-18 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the economic effects of policies to contain Covid-19, by extracting lessons from Sweden's experience during the 'Great Lockdown'. Sweden's approach was less stringent and based more on social responsibility than legal obligations compared to European peers. First, we provide an account of Sweden's strategy and the health outcomes. Second, drawing on a range of data sources and empirical findings, our analysis of the first Covid-19 wave indicates that a less stringent strategy can soften the economic impact initially. These benefits could be eroded subsequently, due to potentially higher infection rates and a prolonged pandemic, but in Sweden's case, the evidence remains mixed in this regard, and it is premature to judge the outcome of Sweden's containment strategy. In addition, the economic effects of the containment strategy also depend on social behavior, demographics and structural features of the economy, such as the degree of export orientation, reliance on global supply chains, and malleability to remote working.
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 Africa's Pulse, No. 21, Spring 2020 by : Cesar Calderon
Download or read book Africa's Pulse, No. 21, Spring 2020 written by Cesar Calderon and published by World Bank Publications. This book was released on 2020-04-07 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic has taken a toll on human life and brought major disruption to economic activity across the world. Despite a late arrival, the COVID-19 virus has spread rapidly across Sub-Saharan Africa in recent weeks. Economic growth in Sub-Saharan Africa is projected to decline from 2.4 percent in 2019 to -2.1 to -5.1 percent in 2020, the first recession in the region in 25 years. The coronavirus is hitting the region’s three largest economies —Nigeria, South Africa, and Angola— in a context of persistently weak growth and investment. In particular, countries that depend on oil and mining exports would be hit the hardest. The negative impact of the COVID-19 crisis on household welfare would be equally dramatic. African policymakers need to develop a two-pronged strategy of “saving lives and protecting livelihoods.†? This strategy includes relief measures and recovery measures aimed at strengthening health systems, providing income support to workers and liquidity support to viable businesses. However, financing of these policies will be challenging amid deteriorating fiscal positions and heightened public debt vulnerabilities. Therefore, African countries will require financial assistance from their development partners -including COVID-19 related multilateral assistance and a debt service stand still with creditors.
Book Synopsis Disease Control Priorities, Third Edition (Volume 9) by : Dean T. Jamison
Download or read book Disease Control Priorities, Third Edition (Volume 9) written by Dean T. Jamison and published by World Bank Publications. This book was released on 2017-12-06 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the culminating volume in the DCP3 series, volume 9 will provide an overview of DCP3 findings and methods, a summary of messages and substantive lessons to be taken from DCP3, and a further discussion of cross-cutting and synthesizing topics across the first eight volumes. The introductory chapters (1-3) in this volume take as their starting point the elements of the Essential Packages presented in the overview chapters of each volume. First, the chapter on intersectoral policy priorities for health includes fiscal and intersectoral policies and assembles a subset of the population policies and applies strict criteria for a low-income setting in order to propose a "highest-priority" essential package. Second, the chapter on packages of care and delivery platforms for universal health coverage (UHC) includes health sector interventions, primarily clinical and public health services, and uses the same approach to propose a highest priority package of interventions and policies that meet similar criteria, provides cost estimates, and describes a pathway to UHC.
Book Synopsis The Economy in the Time of Covid-19 by : World Bank
Download or read book The Economy in the Time of Covid-19 written by World Bank and published by World Bank Publications. This book was released on 2020-04-12 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: After a period of rapid economic growth associated with high commodity prices, the region had entered a phase of lackluster performance. Recent developments, including a new oil price shock, and the outbreak of the Covid-19 epidemic will push the region into recession. Many countries are struggling to contain the spread of the Covid-19 epidemic while avoiding a dramatic decline in economic activity. The report analyzes how to think about this tradeoff. It estimates the potential health costs, assesses the effectiveness of diverse containment strategies, and discusses how large the economic cost could be. The current crisis is unprecedented because it combines a fall in global demand, tighter financial conditions and a major supply shock. The response needs to consider how to socialize the losses, how to prevent a collapse of the financial sector, how to protect jobs and livelihoods, and how to manage and divest the assets that will inevitably end up in the hands of the state.
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 Economic Effects of COVID-19 Related Uncertainty Shocks by : Giray Gozgor
Download or read book Economic Effects of COVID-19 Related Uncertainty Shocks written by Giray Gozgor and published by Frontiers Media SA. This book was released on 2021-11-24 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:
