Health versus Wealth: On the Distributional Effects of Controlling a Pandemic

Glover, Andrew; Heathcote, Jonathan; Krueger, Dirk; Ŕıos-Rull, José-V́ıctor

doi:10.3386/w27046

Cited by 95 publications

(11 citation statements)

References 10 publications

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“…These anti-contagion policies inevitably have been accompanied by a deep recession in the world economy ( OECD, 2020 ). This short-run trade-off between health and wealth ( Glover et al., 2020 ) polarized society into two: those who wish to control the spread of the virus and those who emphasize the economic down-side ( Allcott et al., 2020 ). In the longer run, however, anti-contagion policies could benefit both health and the economy ( Jordà et al., 2020 ).…”

Section: Introductionmentioning

confidence: 99%

Small business under the COVID-19 crisis: Expected short- and medium-run effects of anti-contagion and economic policies

Kawaguchi

Kodama

Tanaka

2021

Journal of the Japanese and International Economies

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This study makes a causal inference on the effects of anti-contagion and economic policies on small business by conducting a survey on Japanese small business managers' expectations about the pandemic, policies, and firm performance. We first find the business suspension request decreased targeted firms' sales by 10 percentage points on top of the baseline 8 percentage points decline due to COVID-19. Second, using a discontinuity in the eligibility criteria, we find lump-sum subsidies improved firms' prospects of survival by 19 percentage points. Third, the medium-run recovery of firms' performance is expected to depend crucially on when infections would end, indicating that stringent anti-contagion policies could complement longer-run economic goals.

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Section: Introductionmentioning

confidence: 99%

Small business under the COVID-19 crisis: Expected short- and medium-run effects of anti-contagion and economic policies

Kawaguchi

Kodama

Tanaka

2021

Journal of the Japanese and International Economies

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“…They projected this situation onto the US economy. There have been many studies conducted in the expanding literature on the economic impacts of the pandemic period in the USA (Atkeson, 2020;Berger et al, 2020;Bethune & Korinek, 2020;Glover et al, 2020;Kemp-Benedict, 2020;Kuloğlu, 2021). The economic impacts of the pandemic being examined on a sectoral basis, it is understood that not every sector has been equally affected.…”

Section: The Effects Of the Pandemic On General Economy On Global And...mentioning

confidence: 99%

The Impact of the Covid-19 Pandemic on Financial Markets on Selected Developed Countries

Kuloğlu

2022

Nevşehir Hacı Bektaş Veli Üniversitesi SBE Dergisi

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Studies cannot provide adequate predictions regarding the depth and length of the Covid-19 virus because the Covid-19 pandemic is an unprecedented epidemic in terms of the lack of data gathered so far. The measures taken by governments and the deterioration of human health conditions have affected all sectors; especially production, distribution, and supply chains. The sector most severely inflicted by the epidemic is the financial markets. This study examined the effects of Covid-19 cases and CDS (Credit Default Swap) premiums on financial markets benefitting from the daily data collected between February 3, 2020, and September 20, 2021. As a result, it was seen that Covid-19 cases and CDS premiums posed a negative impact on stock market indices in selected countries (England, France and the United States). The country with the highest impact of Covid-19 cases on stock market indices is England. The country with the lowest CDS premiums on stock market indices is England and the country with the highest is the United States. More strikingly, the negative impact posed by CDS premiums on stock market returns due to the uncertainty of the epidemic was analyzed to be stronger than that posed by Covid-19 cases. Thus, governments should develop policies to reduce pandemicinduced uncertainty in the financial markets. DOI: https://dergipark.org.tr/tr/pub/nevsosbilen/article/914921 Atıf/Cite as: Kuloğlu, A. (2022). The impact of the covid-19 pandemic on financial markets on selected developed countries.

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“…On the one hand our focus is to estimate economic losses only and not perform a cost-benefit analysis as in Refs. [58][59][60] . On the other hand, we want to be parsimonious about our set of assumptions.…”

Section: A Model For Economic Lossesmentioning

confidence: 99%

After the lockdown: simulating mobility, public health and economic recovery scenarios

Spelta

Flori

Pierri

et al. 2020

Sci Rep

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The spread of SARS-COV-2 has affected many economic and social systems. This paper aims at estimating the impact on regional productive systems in Italy of the interplay between the epidemic and the mobility restriction measures put in place to contain the contagion. We focus then on the economic consequences of alternative lockdown lifting schemes. We leverage a massive dataset of human mobility which describes daily movements of over four million individuals in Italy and we model the epidemic spreading through a metapopulation SIR model, which provides the fraction of infected individuals in each Italian district. To quantify economic backslashes this information is combined with socio-economic data. We then carry out a scenario analysis to model the transition to a post-lockdown phase and analyze the economic outcomes derived from the interplay between (a) the timing and intensity of the release of mobility restrictions and (b) the corresponding scenarios on the severity of virus transmission rates. Using a simple model for the spreading disease and parsimonious assumptions on the relationship between the infection and the associated economic backlashes, we show how different policy schemes tend to induce heterogeneous distributions of losses at the regional level depending on mobility restrictions. Our work shed lights on how recovery policies need to balance the interplay between mobility flows of disposable workers and the diffusion of contagion.

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Health versus Wealth: On the Distributional Effects of Controlling a Pandemic

Cited by 95 publications

References 10 publications

Small business under the COVID-19 crisis: Expected short- and medium-run effects of anti-contagion and economic policies

Small business under the COVID-19 crisis: Expected short- and medium-run effects of anti-contagion and economic policies

The Impact of the Covid-19 Pandemic on Financial Markets on Selected Developed Countries

After the lockdown: simulating mobility, public health and economic recovery scenarios

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