Using Macroeconomic Frameworks To Analyze The Impact Of Covid 19
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Using Macroeconomic Frameworks To Analyze The Impact Of Covid 19
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Author : Mr. Ales Bulir
language : en
Publisher: International Monetary Fund
Release Date : 2021-04
Using Macroeconomic Frameworks To Analyze The Impact Of Covid 19 written by Mr. Ales Bulir and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-04 with Business & Economics categories.
This technical note and manual (TNM) addresses the following issues: • Evaluating the full implications from the policies adopted to mitigate the impact of the COVID-19 pandemic on the economy requires a well-developed macroeconomic framework. This note illustrates how such frameworks were used to analyze Colombia and Cambodia's shock impact at the beginning of the pandemic. • The use of macroeconomic frameworks is not to infer general policy conclusions from abstract models or empirical analysis but to help policymakers think through and articulate coherent forecasts, scenarios, and policy responses. • The two country cases illustrate how to construct a baseline scenario consistent with a COVID-19 shock within structural macroeconomic models. The scenario is built gradually to incorporate the available information, the pandemic's full effects, and the policy responses. • The results demonstrate the value of combining close attention to the data, near-term forecasting, and model-based analyses to support coherent policies.
Economic Policy And The Covid 19 Crisis
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Author : Bernadette Andreosso-O'Callaghan
language : en
Publisher: Routledge
Release Date : 2021-09-28
Economic Policy And The Covid 19 Crisis written by Bernadette Andreosso-O'Callaghan and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-28 with Business & Economics categories.
This book offers an assessment of the different monetary and fiscal policy responses that have been implemented by national governments in major European and Asian countries faced with the Covid-19 crisis since 2020; it also deals with the case of the US experience as a benchmarking example. The book provides a comprehensive cross-country comparative study on health crisis management at the macroeconomic level. Its focus on monetary and fiscal policies across different countries in Asia, Europe and the USA makes it unique. Divided into three parts following a general introduction that sets the context of the study, the book deals with the case of the USA, EU and European countries as well as with that of key Asian countries. Of specific relevance is the European Union and euro-area contexts that serve as a framework to the different EU national monetary and fiscal policy responses. Each chapter deals with a specific country, including Italy and the UK in Europe and Singapore and South Korea in Asia, and covers the following topics: the extent of the outbreak of the public health crisis and its macroeconomic impact; the comparative examination of fiscal and monetary policy responses to both crises; and an overall assessment of the effectiveness of these policies along with the public health policy to mitigate the economic impact. Given the unprecedented nature of the Covid-19 crisis, anyone eager to know more about its macroeconomic impact and ensuing policies in a comparative framework will be keen to read this book. It will be essential reading to any researcher, policy maker and/or analyst working in the area of public policy and is also a unique contribution to the field of European studies, Asian studies and Comparative Economic Studies.
Covid 19 Impact And Mitigation Policies A Didactic Epidemiological Macroeconomic Model Approach
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Author : John P. Ansah
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2020-11-08
Covid 19 Impact And Mitigation Policies A Didactic Epidemiological Macroeconomic Model Approach written by John P. Ansah and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-11-08 with Social Science categories.
We develop an integrated epidemiological-macroeconomic model to analyze the interplay between the COVID-19 outbreak and economic activity, as a tool for capacity building purposes. We illustrate a workhorse framework that combines a rich epidemiological model with an economic block to shed light on the tradeoffs between saving lives and preserving economic outcomes under various mitigation policies and scenarios calibrated for emerging market and developing economies. In our benchmark setup, we link the effective contact frequency and labor supply decisions to the current state of the disease progression, allowing for relevant behavioral responses that introduce multiple feedback channels. We showcase the effects of various “smart” mitigation measures, e.g. improved quarantine capacity or targeted labor market restrictions, to alleviate the tradeoffs between health-related outcomes and economic activity, including in response to a second infection wave. The discovery of treatment or vaccine, and the possibility of temporary immunity for the recovered individuals are also considered. The model is further extended to a multisector framework to analyze the sectoral allocation effects of the COVID-19 shock.
A Pandemic Forecasting Framework An Application Of Risk Analysis
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Author : Allan Dizioli
language : en
Publisher: International Monetary Fund
Release Date : 2021-08-27
A Pandemic Forecasting Framework An Application Of Risk Analysis written by Allan Dizioli and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08-27 with Business & Economics categories.
This paper introduces a simple, frequently and easily updated, close to the data epidemiological model that has been used for near-term forecast and policy analysis. We provide several practical examples of how the model has been used. We explain the epidemic development in the UK, the USA and Brazil through the model lens. Moreover, we show how our model would have predicted that a super infectious variant, such as the delta, would spread and argue that current vaccination levels in many countries are not enough to curb other waves of infections in the future. Finally, we briefly discuss the importance of how to model re-infections in epidemiological models.
Covid 19 Pandemic Impact On New Economy Development And Societal Change
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Author : Popescu, Cristina Raluca Gh.
language : en
Publisher: IGI Global
Release Date : 2021-12-17
Covid 19 Pandemic Impact On New Economy Development And Societal Change written by Popescu, Cristina Raluca Gh. and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-12-17 with Business & Economics categories.
Globalization and technological advances have the immense power to create a new economy, address sustainability concerns, and facilitate societal changes. In addition, the COVID-19 pandemic has led to notable modifications in the world economy and society that require adjustments to business models, as well as our way of life. It is critical to understand these new models in our changing society for businesses to not only survive, but to thrive. COVID-19 Pandemic Impact on New Economy Development and Societal Change provides an updated view of the newest trends, novel practices, and latest tendencies concerning the manner of shaping the new economy and accelerating societal change, demonstrating the crucial importance of rethinking the world’s models, priorities, and strategies while seeking a more responsible path for humanity. Covering topics such as tourism and salesmanship skills, this publication is ideal for academicians, researchers, scientists, scholars, practitioners, industry professionals, consultants, instructors, and students.
Macroeconomic Responses To The Covid 19 Pandemic
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Author : Neven Vidaković
language : en
Publisher: Springer Nature
Release Date : 2021-07-17
Macroeconomic Responses To The Covid 19 Pandemic written by Neven Vidaković and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-17 with Political Science categories.
This book examines economic policies utilized within Southeast Europe in response to the COVID-19 pandemic. Covering countries both within and outside the European Union, the human and economic cost of the pandemic is calculated using macroeconomic models from a short and longer term perspective. The economic policies used during the pandemic are analyzed, alongside crisis management approaches, to highlight the effectiveness of monetary policy, fiscal policies and potential future economic solutions for the post COVID-19 period. This book aims to provide policy recommendations based on findings from Southeast Europe. It is relevant to researchers and policymakers involved in economic policy and the political economy, as well as anyone interested in the responses to the COVID-19 pandemic.
Framework For Equitable Allocation Of Covid 19 Vaccine
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Author : National Academies of Sciences, Engineering, and Medicine
language : en
Publisher: National Academies Press
Release Date : 2020-11-30
Framework For Equitable Allocation Of Covid 19 Vaccine written by National Academies of Sciences, Engineering, and Medicine and has been published by National Academies Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-11-30 with Medical categories.
In response to the coronavirus disease 2019 (COVID-19) pandemic and the societal disruption it has brought, national governments and the international community have invested billions of dollars and immense amounts of human resources to develop a safe and effective vaccine in an unprecedented time frame. Vaccination against this novel coronavirus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), offers the possibility of significantly reducing severe morbidity and mortality and transmission when deployed alongside other public health strategies and improved therapies. Health equity is intertwined with the impact of COVID-19 and there are certain populations that are at increased risk of severe illness or death from COVID-19. In the United States and worldwide, the pandemic is having a disproportionate impact on people who are already disadvantaged by virtue of their race and ethnicity, age, health status, residence, occupation, socioeconomic condition, or other contributing factors. Framework for Equitable Allocation of COVID-19 Vaccine offers an overarching framework for vaccine allocation to assist policy makers in the domestic and global health communities. Built on widely accepted foundational principles and recognizing the distinctive characteristics of COVID-19, this report's recommendations address the commitments needed to implement equitable allocation policies for COVID-19 vaccine.
Covid 19 And Emerging Markets
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Author : Cem Çakmaklı
language : en
Publisher:
Release Date : 2020
Covid 19 And Emerging Markets written by Cem Çakmaklı and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
Abstract: We quantify the macroeconomic effects of COVID-19 for a small open economy by calibrating a SIR-multi-sector-macro model to Turkey. Sectoral supply shocks are based on the proximity requirements in each sector and the ability to work from home. Physical proximity determines the supply shock through its effect on infection rates. Sectoral demand shocks incorporate domestic and foreign demand, both of which adjust with infection rates. We calibrate demand shocks during COVID-19 using real-time credit card purchase data. Our results show that the optimal policy, which yields the lowest economic cost and saves the maximum number of lives, can be achieved under a full lockdown of 39 days. Economic costs are much larger for an open economy as the shocks are amplified through the international production network. A decline in foreign demand leads to losses in domestic sectors through international input-output linkages, accounting for a third of the total output loss. In addition, the reduction in capital flows deprives the network from its trade financing needs, where sectors with larger external finance needs experience larger losses. The policy options are limited given sparse fiscal resources to fight the pandemic domestically, while serving the external debt. We present historical evidence from 2001 crisis of Turkey, when fiscal, monetary and exchange rate policies were employed altogether to deal with a triple crisis of balance of payments, banking, and sovereign debt
Quantifying Systemic Risk
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Author : Joseph G. Haubrich
language : en
Publisher: University of Chicago Press
Release Date : 2013-01-24
Quantifying Systemic Risk written by Joseph G. Haubrich and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-24 with Business & Economics categories.
In the aftermath of the recent financial crisis, the federal government has pursued significant regulatory reforms, including proposals to measure and monitor systemic risk. However, there is much debate about how this might be accomplished quantitatively and objectively—or whether this is even possible. A key issue is determining the appropriate trade-offs between risk and reward from a policy and social welfare perspective given the potential negative impact of crises. One of the first books to address the challenges of measuring statistical risk from a system-wide persepective, Quantifying Systemic Risk looks at the means of measuring systemic risk and explores alternative approaches. Among the topics discussed are the challenges of tying regulations to specific quantitative measures, the effects of learning and adaptation on the evolution of the market, and the distinction between the shocks that start a crisis and the mechanisms that enable it to grow.
Monetary Policy Inflation And The Business Cycle
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Author : Jordi Galí
language : en
Publisher: Princeton University Press
Release Date : 2015-06-09
Monetary Policy Inflation And The Business Cycle written by Jordi Galí and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-09 with Business & Economics categories.
The classic introduction to the New Keynesian economic model This revised second edition of Monetary Policy, Inflation, and the Business Cycle provides a rigorous graduate-level introduction to the New Keynesian framework and its applications to monetary policy. The New Keynesian framework is the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. A backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, the framework provides the theoretical underpinnings for the price stability–oriented strategies adopted by most central banks in the industrialized world. Using a canonical version of the New Keynesian model as a reference, Jordi Galí explores various issues pertaining to monetary policy's design, including optimal monetary policy and the desirability of simple policy rules. He analyzes several extensions of the baseline model, allowing for cost-push shocks, nominal wage rigidities, and open economy factors. In each case, the effects on monetary policy are addressed, with emphasis on the desirability of inflation-targeting policies. New material includes the zero lower bound on nominal interest rates and an analysis of unemployment’s significance for monetary policy. The most up-to-date introduction to the New Keynesian framework available A single benchmark model used throughout New materials and exercises included An ideal resource for graduate students, researchers, and market analysts