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Economic Activity, Fiscal Space and Types of COVID-19 Containment Measures

2022-01-28 Business & Economics
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Release : 2022-01-28
Genre : Business & Economics
Kind : eBook
Book Rating : 215/5 ( reviews)

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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. This book was released on 2022-01-28. 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.

The Sooner (and the Smarter), the Better: COVID-19 Containment Measures and Fiscal Responses

2021-03-05 Business & Economics
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Release : 2021-03-05
Genre : Business & Economics
Kind : eBook
Book Rating : 63X/5 ( reviews)

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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. This book was released on 2021-03-05. 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.

The Economic Effects of COVID-19 Containment Measures

2020-08-07
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Release : 2020-08-07
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Kind : eBook
Book Rating : 251/5 ( reviews)

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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. This book was released on 2020-08-07. 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.

Smart Containment: Lessons from Countries with Past Experience

2021-04-23 Business & Economics
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Release : 2021-04-23
Genre : Business & Economics
Kind : eBook
Book Rating : 47X/5 ( reviews)

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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. This book was released on 2021-04-23. 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.

The Economic Effect of COVID-19 Containment Measures

2020 COVID-19 (Disease)
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Author :
Release : 2020
Genre : COVID-19 (Disease)
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis The Economic Effect of COVID-19 Containment Measures by : Pragyan Deb

Download or read book The Economic Effect of COVID-19 Containment Measures written by Pragyan Deb. This book was released on 2020. 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 stayat- 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.

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