Governments’ economic support for households during the COVID-19 pandemic and consumer confidence

Gholipour, Hassan F.; Tajaddini, Reza; Farzanegan, Mohammad Reza

doi:10.1007/s00181-023-02367-0

Cited by 7 publications

(4 citation statements)

References 49 publications

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“…Analyzing relevant and highly frequent macro economic variables opens up for the possibility of more exactly determining the power and timing of other factors affecting macro economic outcomes. In Gholipour et al [3], consumer confidence as a crucial factor in explaining households' aggregate consumption is analyzed. Their estimation result, covering a wide range of advanced and emerging market economies, is that government stimulus and leading economic indicators have a positive and significant impact on consumer confidence, whereas Covid deaths have a negative and significant impact.…”

Section: Policy Analysismentioning

confidence: 99%

Business Cycles, Money and Risk - Some New Implications for Economic Policy

Bergström

2024

Economic Recessions - Navigating Economies in a Volatile World and the Path for Economic Resilience and Development [Working Ti

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A striking feature of the pandemics was the massive fiscal policy stimulus that was initiated globally and the reaction of households. Before a vaccine against Covid was invented, households reacted by saving a big part of their incomes, resulting in falling real consumption. When the vaccine was invented and expected to be rolled out, the reaction among households was the opposite: a big rebound in consumption driven primarily by spending saved funds on top of the increase in income. Household expenditure growth has tracked real wage growth this decade. Countries with wage constraint and high inflation were found to fare worse economically. The higher interest rates 2022–2023 in the wake of rising inflation have not given rise to the widely expected recession. It is concluded that fiscal, monetary and macro prudential policy have not been overly efficient during the first four years of the 2020s. It is found that other factors than policy are more powerful in affecting economic activity. The exception is the efficiency of monetary policy to control financial cycles, exemplified by the Swedish real estate boom-and-bust cycle of the past decade. Monetary policy it is concluded needs to set the policy rate close to real economic growth.

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Section: Policy Analysismentioning

confidence: 99%

Business Cycles, Money and Risk - Some New Implications for Economic Policy

Bergström

2024

Economic Recessions - Navigating Economies in a Volatile World and the Path for Economic Resilience and Development [Working Ti

View full text Add to dashboard Cite

show abstract

“…11 Farzanegan and Gholipour (2023) show that government economic support weakens the (positive) association between COVID-19 mortality and internal conflict (specifically, civil disorder). Additionally, Gholipour et al (2023) document that a higher level of government economic support during the pandemic leads to a higher level of consumer confidence (with likely positive implications for consumption and investment expenditures). 12 The subnational region is the highest level of geographic aggregation at which the HFPS data can be matched with the conflict fatality data.…”

Section: Orcidmentioning

confidence: 99%

The welfare implications of COVID‐19 for fragile and conflict‐affected regions

Tabakis¹,

Ten

Newhouse

et al. 2023

Review Development Economics

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Understanding the ramifications of the COVID‐19 pandemic for households' welfare in regions subject to fragility, conflict, and violence (FCV) is important to inform programs and policies in this context. Harmonized data from high‐frequency phone surveys indicates that, at the onset of the pandemic, a higher fraction of respondents in FCV regions relative to non‐FCV ones faced adverse household income changes and reported to have stopped working since the outbreak of the crisis. On top of that, households in FCV regions were far less likely to have received government assistance than those in non‐FCV regions. These findings suggest that, at the start of the COVID‐19 pandemic, there was a widening of the preexisting economic gap between FCV and non‐FCV regions, raising the recovery bar for the former.

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“…About 37,000 contract school teachers were appointed for the purpose with the allocation of 400 million US dollars in funds. Three-fourths of the funds were supported by the state, while the other one-fourth financing gap was filled by the C2D program (Gholipour et al, 2023;Sperduto, 2019).…”

Section: Review Of Literaturementioning

confidence: 99%

Debt Swap Funding Nexus Education Attainment in the Presence of Per Capita Income in Debt Burdened Economies: An Empirical Analysis Using Two Step SYS-GMM

Ahmad,

Safdar,

Azam

2023

J. educ. soc. stud.

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Debt swap funding is one of the important catalysts for education attainment in debt-burdened economies. It enhances the education status by providing extra fiscal space for the government to invest resources for quality education, increasing capital inflow, and reducing the debt burden in the recipient countries. The main purpose of the study is to investigate the impact of debt swap funding on education attainment in debt-burdened economies for the period 2003-2021. The relationship between debt swap funding and education attainment is analyzed in the presence of per capita income of the respective countries by using the advanced methodology Two Step System GMM. Other variables, which are the main determinants of debt swap funding, like IMF structural adjustment program and debt service, are used as control variables. Education attainment is also dependent on per capita income included in the model, along with growth parameters of new growth theory (technological growth, population growth, and depreciation rate), which are part of the control variables. The results of the study show a positive and statistically significant relation between debt swap funding and education attainment in debt-burdened economies in the presence of per capita income. Policy recommendations are proposed in light of the results obtained regarding the debt swap funding nexus education attainment.

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Governments’ economic support for households during the COVID-19 pandemic and consumer confidence

Cited by 7 publications

References 49 publications

Business Cycles, Money and Risk - Some New Implications for Economic Policy

Business Cycles, Money and Risk - Some New Implications for Economic Policy

The welfare implications of COVID‐19 for fragile and conflict‐affected regions

Debt Swap Funding Nexus Education Attainment in the Presence of Per Capita Income in Debt Burdened Economies: An Empirical Analysis Using Two Step SYS-GMM

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