The COVID-19 Crisis: Policy Recommendations for Japan

Yoshino, Naoyuki; Hendriyetty, Nella

doi:10.1515/ev-2020-0017

Cited by 6 publications

(4 citation statements)

References 3 publications

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“…The pandemic has also kindled a re-examination of the purposes of growth and economic development that places socio-cultural transformations alongside a recalibration of economic goals [ 8 ]. Such rethinking must take into account not only the possibility of future pandemics [ 9 ], but also drive current policy decisions with an eye on a future path of sustainable growth [ 8 , 10 ].…”

Section: Introductionmentioning

confidence: 99%

V–, U–, L– or W–shaped economic recovery after Covid-19: Insights from an Agent Based Model

et al. 2021

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We discuss the impact of a Covid-19–like shock on a simple model economy, described by the previously developed Mark-0 Agent-Based Model. We consider a mixed supply and demand shock, and show that depending on the shock parameters (amplitude and duration), our model economy can display V-shaped, U-shaped or W-shaped recoveries, and even an L-shaped output curve with permanent output loss. This is due to the economy getting trapped in a self-sustained “bad” state. We then discuss two policies that attempt to moderate the impact of the shock: giving easy credit to firms, and the so-called helicopter money, i.e. injecting new money into the households savings. We find that both policies are effective if strong enough. We highlight the potential danger of terminating these policies too early, although inflation is substantially increased by lax access to credit. Finally, we consider the impact of a second lockdown. While we only discuss a limited number of scenarios, our model is flexible and versatile enough to accommodate a wide variety of situations, thus serving as a useful exploratory tool for a qualitative, scenario-based understanding of post-Covid recovery. The corresponding code is available on-line.

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Section: Introductionmentioning

confidence: 99%

V–, U–, L– or W–shaped economic recovery after Covid-19: Insights from an Agent Based Model

et al. 2021

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“…In 2016, the Asian Development Bank (ADB) estimated that in developing Asia an annual investment of $1.7 trillion is required from 2016 to 2030 to fill the infrastructure investment gap for the ongoing growth momentum to be sustained (ADB 2017). However, COVID-19 and the associated emergent fiscal spending for healthcare and compensation for affected people reduces the expected infrastructure investments in developing nations (Yoshino and Hendriyetty 2020). With the emergence of variants in the past two years, the pandemic and its impact will be long-term.…”

Section: Need For Private-sector Financing In Infrastructure Investmentmentioning

confidence: 99%

Cost–Benefit Analysis of Spillover Tax Revenues of High-Speed Rail in Taipei,China

Yoshino¹,

Xu²,

Agarwal³

et al. 2023

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This paper introduces the concept of spillover tax revenues, which are also known as "indirect" or "secondary revenues," or "externality effects." Based on a case study of high-speed rail in Taipei,China, the spillover tax revenues are identified using the regional tax data through a DID analysis. This paper proposes alternatives for financing infrastructure investments with incorporation of the floating bond and land trust scheme. Further on, a cost-benefit analysis is carried out for the case from both the public and private sector's perspective. Compared to the traditional investment scheme, the proposed financing schemes show a significant improvement of the IRR.The introduction of spillover tax revenues is essential to meet the needs of infrastructure investment in Asia. Increased spillover tax revenues should be shared with the local government and private investors. Combined with the innovative financing schemes, the improved IRR would induce private-sector financing in infrastructure investments.

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“…However, COVID-19 and the associated emergent fiscal spending for healthcare and compensation for affected people has reduced the expected infrastructure investments in developing nations (Yoshino and Hendriyetty 2020). With the emergence of variants in the past 2 years, the pandemic and its impact will be long term.…”

Section: Need For Private Sector Financing In Infrastructure Investmentmentioning

confidence: 99%

Infrastructure Spillover Impacts in Developing Asia

2023

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The views in this publication do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI), its Advisory Council, ADB's Board or Governors, or the governments of ADB members. ADBI does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. ADBI uses proper ADB member names and abbreviations throughout and any variation or inaccuracy, including in citations and references, should be read as referring to the correct name.By making any designation of or reference to a particular territory or geographic area, or by using the term "recognize," "country," or other geographical names in this publication, ADBI does not intend to make any judgments as to the legal or other status of any territory or area.Users are restricted from reselling, redistributing, or creating derivative works without the express, written consent of ADBI.ADB recognizes "China" as the People's Republic of China; and "

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The COVID-19 Crisis: Policy Recommendations for Japan

Cited by 6 publications

References 3 publications

V–, U–, L– or W–shaped economic recovery after Covid-19: Insights from an Agent Based Model

V–, U–, L– or W–shaped economic recovery after Covid-19: Insights from an Agent Based Model

Cost–Benefit Analysis of Spillover Tax Revenues of High-Speed Rail in Taipei,China

Infrastructure Spillover Impacts in Developing Asia

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