scholarly journals Impact of implementation of the Dependency Act on the Spanish economy: an analysis after the 2008 financial crisis

2021 ◽  
Author(s):  
Raúl Del Pozo-Rubio ◽  
Fernando Bermejo-Patón ◽  
Pablo Moya-Martínez
Keyword(s):  
Value Added ◽  
Input Output ◽  
Spanish Economy ◽  
Term Care ◽  
Personal Assistance ◽  
Cash Benefit ◽  
Consumption Data ◽  
Cash Benefits ◽  
The 2008 Financial Crisis ◽  
The Impact

AbstractThe aim of this paper is to assess the industry-wide impact of Long-Term Care (LTC) spending on the Spanish economy. LTC spending includes beneficiaries’ copayment and the impact is quantified in terms of output, employment and value added. To this purpose, we use an input–output model of the Spanish economy that allows us to further describe how the value added generated is distributed throughout the economy according to the existing benefit-mix (in kind services, cash benefit for informal care and cash benefit for personal assistance). Additionally, the model provides results on how the return on LTC spending would improve by using only in-kind services instead of the benefit mix currently in place. The 2012 Spanish Input–Output Table at current prices was extracted from the WIOD Database’s 2016 Release. Consumption data for dependent, employed, and unemployed households were collected from the Spanish Household Budget Survey for 2012. The findings reveal that the total annual costs are 7,205.43 million €, with total costs from in-kind services being almost 71% higher than total costs from cash benefits. Each million euros invested in in-kind services and CBPA would create 41.91 jobs (68.41% direct, 9.16% indirect and 22.43% induced). However, each million euros spent on cash benefits would result in 16.88 jobs overall (53.02% direct, 24.53% indirect and 22.45% induced). The total number of jobs is 151,353 at the aggregate level, being 46,840 depending on cash-benefits and 104,513 on in-kind services.

scholarly journals TRANSMISI DAMPAK MELALUI JARINGAN PERDAGANGAN: PENDEKATAN ASIAN-IO

2014 ◽  
Vol 16 (4) ◽  
pp. 339-372
Author(s):  
Ibrahim Ibrahim ◽  
Tri Winarno ◽  
Melva Viva Grace ◽  
Yan Fitri
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Value Added ◽  
Jel Classification ◽  
Input Output ◽  
Asian Countries ◽  
Production Chain ◽  
The Us ◽  
Similar Point ◽  
The Impact

Global financial crisis which began in the US in the latter part of 2008 hit a lot of countries in both trade and finance. In trade aspect, the crisis spread widely; in Indonesia, the total export value in 2009 dropped to 14,3%. Therefore, the economy of China, tightly linked with Asian countries including Indonesia, which rapidly rose before the crisis but slowed after it should be monitored as this condition, could indirectly hold down Indonesia’s GDP. Applying RAS method to update Asian IO data, this research has attempted to describe the trade structure of Asian countries in 2010. Also, it implemented a simulation of the impact of US and China’s GDP decline and US exports on Indonesia’s GDP, both at aggregate and sector levels. The result of the mapping shows that Indonesia is getting more dependent on China. Generally, the link between Indonesia’s exported products and global production chain is weak. Indonesia’s export commodities which are mostly of intermediate goods have low contribution towards value added. Moreover, the result of the simulation shows that 1% decrease in China’s GDP has greater impact on Indonesia’s GDP (0,14%) than that of the US (0,05%) and EU (0,07%) though with similar point.  Keyword: Trade Interactions, Input Output Model JEL Classification : F16, R15

scholarly journals GOVERNMENT DEBT OF SELECTED EUROPEAN COUNTRIES

2019 ◽  
Vol 30 (6) ◽  
pp. 1569-1573
Author(s):  
Wioletta Świeboda
Keyword(s):  
Financial Crisis ◽  
Value Added ◽  
Government Debt ◽  
Sustainable Growth ◽  
European Countries ◽  
Specific Subset ◽  
General Government ◽  
The 2008 Financial Crisis ◽  
The Government ◽  
The Impact

The purpose of this paper is to present the main data about general government debt. It is a challenge to analyze selected group of countries because they are very heterogeneous. For instance Belgium is a well-developed “old-EU” country while Spain is one of the southern European countries with specific issues like unemployment and a huge national debt. Poland, on the contrary, had a centrally planned economy, went through the transition to market economy and only subsequently became an EU member. The key point of this research is to explain how they evolved in the years after the crisis. This paper includes an analysis of the evolution of the public budget of each government.It was fundamental to implement urgent measures and policies, in order to recover the economy of these countries and return to sustainable growth after the 2008 Financial Crisis. A brief overview of these countries’ pensions systems is included, as it has a major share in their government spending and fiscal stability. It is one of the most concerning fiscal issues nowadays that is constantly being in question and probably modified in the short-term.As of 2008, the first symptoms of the international financial crisis began to manifestthemselves in the European countries. As a consequence, European countries like Spain orBelgium suffered a drop in their economic activity and an increase of the unemploymentrate. In the case of Poland, the impact of the crisis was not as dramatic as in other countries,however they also needed to react to the financial deficit.Between the period of 2010 and 2017, the countries needed to make several reformsespecially concerning the national Value Added Tax, and restructuring the provision ofcertain public services such as health funding, infrastructure, education and employment. General government debt-to-GDP ratio is the amount of a country's total gross government debt as a percentage of its GDP. It is an indicator of an economy's health and a key factor for the sustainability of government finance. "Debt" is commonly defined as a specific subset of liabilities identified according to the types of financial instruments included or excluded. The evolution of public debt and the government surplus/deficit among the years, helps to picture how was the country economy situation before the Financial Crisis and therefore helps to understand why the consequences are in some cases more extreme and dramatic than other.

scholarly journals Impact of pharmaceutical companies upon the economy and public finance in Poland: The Sanofi case study

2019 ◽  
pp. 113-123
Author(s):  
Ewelina Nojszewska
Keyword(s):  
Public Finance ◽  
Negative Impact ◽  
Positive Impact ◽  
Value Added ◽  
Industrial Sector ◽  
Pharmaceutical Products ◽  
Pharmaceutical Companies ◽  
Input Output ◽  
The Impact

The paper discusses a two-channel impact of pharmaceutical companies upon the economy and public finance. Firstly, pharmaceutical companies predominantly impact the net value added, employment, income of people employed by their suppliers and customers as well as public finance revenue in the countries where they are based. The mechanisms of such an influence are presented in the input-output matrix (input-output analysis) that shows how output from one industrial sector in the economy may become an input to another industrial sector. The input-output model was developed by Leontief and earned him the Nobel Prize. This kind of influence upon the Polish economy has been illustrated with the case study of the Sanofi company. Secondly, pharmaceutical products improve the effectiveness of medical treatment, by which they contribute to the higher standard of living and economic growth.In this part of investigation into the impact of pharmaceutical companies upon the economy the key method consists in calculating indirect costs, that is, the lost productivity (lost GDP). Non-generated GDP as well as the negative impact of diseases and the treatment thereof on public finance can be significantly reduced by using more effective pharmaceutical products. This second channel through which pharmaceutical companies exert influence on the economy has been illustrated with an example of economic consequences calculated from the social viewpoint for three gynaecological–oncology diseases. Our calculations for both channels in this exercise have led us to conclude that a pharmaceutical company positively influences its business partners and the economy while by improving the health of the population it exerts a positive impact upon the economy and public finance.

scholarly journals HIGHER EDUCATION INSTITUTIONS’ IMPACT ON THE ECONOMY

2019 ◽  
Vol 20 (3) ◽  
pp. 507-525 ◽  
Author(s):  
Agnė Vaiciukevičiūtė ◽  
Jelena Stankevičienė ◽  
Nomeda Bratčikovienė
Keyword(s):  
Higher Education ◽  
Tertiary Education ◽  
Higher Education Institutions ◽  
Value Added ◽  
Local Economy ◽  
Input Output ◽  
Education Spending ◽  
Output Table ◽  
The Status ◽  
The Impact

Despite the strong public interest in the accountability and efficiency in education spending on higher education institutions (HEIs) in Lithuania, there are currently no existing studies which have examined the impact of HEIs on the country’s economy. In the present study, we have used a disaggregated input-output table for Lithuania’s tertiary education institutions in order to determine the output value added to the local economy by the presence of HEIs. The results of the study have revealed that HEIs contribute to the Lithuanian economy in the period of (2010–2016), with the average of gross domestic output (GDP) of 298.48 mln. euros. The present study is the first of its kind to use input-output table evaluate the impact of HEIs on Lithuania’s economy, and its results could be of significant value to the current policy debates regarding the status of higher education in Lithuania.

scholarly journals Estimating the impact of COVID-19 on the Spanish economy with input-output analysis

2021 ◽  
Vol 30 (1) ◽  
pp. 1-19
Author(s):  
Eladio Febrero Paños ◽  
Fernando Bermejo Patón
Keyword(s):  
Production System ◽  
Supply Side ◽  
Demand Side ◽  
Input Output ◽  
Spanish Economy ◽  
Output Analysis ◽  
Input Output Analysis ◽  
The Impact ◽  
Second Wave ◽  
Negative Shock

In this paper we present a forecast of the impact of measures to stem Covid-19 on the Spanish economy at a highly disaggregate level, using input-output techniques. Our estimations cover the period 2020-2021, and we consider two scenarios depending on the possibility of a second wave of massive infections in the autumn of 2020. In 2020, the lockdown of the population and the shutdown of a large part of the production system for several weeks are a supply-side shock that will be followed by a demand-side shock whose impact is expected to be even larger. In 2021 there will be some recovery, although we believe that it will not be sufficient for offsetting the initial negative shock. al negative shock.

scholarly journals Evaluating the contributions of strategies to prevent SARS-CoV-2 transmission in the healthcare setting: a modelling study

2020 ◽  
Author(s):  
Joel C. Miller ◽  
Xueting Qiu ◽  
Derek R. MacFadden ◽  
William P. Hanage
Keyword(s):  
Personal Protective Equipment ◽  
Value Added ◽  
Stochastic Simulations ◽  
Base Case ◽  
Protective Equipment ◽  
Random Testing ◽  
Term Care ◽  
Force Of Infection ◽  
Asymptomatic Individuals ◽  
The Impact

SummaryBackgroundSince its onset, the COVID-19 pandemic has caused significant morbidity and mortality worldwide, with particularly severe outcomes in healthcare institutions and congregate settings. To mitigate spread, healthcare systems have been cohorting patients to limit contacts between uninfected patients and potentially infected patients or healthcare workers (HCWs). A major challenge in managing the pandemic is the presence of currently asymptomatic individuals capable of transmitting the virus, who could introduce COVID-19 into uninfected cohorts. The optimal combination of personal protective equipment (PPE) and testing approaches to prevent these events is unclear, especially in light of ongoing limitations in access to both.MethodsUsing stochastic simulations with an SEIR model we quantified and compared the impacts of PPE use, patient and HCWs testing, and cohorting.FindingsIn the base case without testing or PPE, the healthcare system was rapidly overwhelmed, and became a net contributor to the force of infection. We found that effective use of PPE by both HCWs and patients could prevent this scenario, while random testing of apparently asymptomatic individuals on a weekly basis was less effective. We also found that even imperfect use of PPE could provide substantial protection by decreasing the force of infection, and that creation of smaller patient/HCW subcohorts can provide additional resilience to outbreak development.InterpretationThese findings reinforce the importance of ensuring adequate PPE supplies even in the absence of testing, and provide support for strict subcohorting regimens to reduce outbreak potential in healthcare institutions.FundingNational Institute of General Medical Sciences, National Institutes of Health.Research in contextEvidence beforePreserving healthcare from outbreaks of respiratory viruses is a longstanding concern, brought into sharp relief by the covid-19 pandemic. Early case series and numerous anecdotal reports suggest that health care workers (HCWs) and patients receiving treatment for conditions other than SARS-CoV-2 infection are at elevated risk of becoming infected, and the consequences of infections in long term care facilities are well known. In addition, the early stages of the pandemic have been marked by shortages of personal protective equipment (PPE) and diagnostic testing, but the most effective strategies for their use given the specific characteristics of SARS-CoV-2 transmission are unclear.Value addedOur research plainly shows the importance of presymptomatic transmission. Given reasonable estimates of this, random testing of currently asymptomatic staff and patients once a week is not able to prevent large outbreaks. We show that PPE is, as expected, the most effective intervention and moreover even suboptimal PPE use is highly beneficial. To further limit transmission, we show the benefit of sub-cohorting into smaller groups of HCWs and patients. When the force of infection in the community is low, this can entirely prevent the establishment of infection in a large fraction of healthcare.ImplicationsPPE should be used throughout healthcare, on the assumption that any patient or HCWs is potentially infected. Further work should determine the most effective means of PPE for the non-COVID cohort. If PPE resources are limited, whether in general or due to a second surge, we recommend subcohorting to limit the impact of introductions from the community.

scholarly journals Economic Effects of Employment Loss Among Young People During an Economic Crisis

2021 ◽  
Author(s):  
Miguel A. Martinez ◽  
Ángeles Cámara
Keyword(s):  
Economic Crisis ◽  
Age Groups ◽  
Economic Effects ◽  
Spanish Economy ◽  
2008 Financial Crisis ◽  
Jel Codes ◽  
Active Population ◽  
Younger Workers ◽  
The 2008 Financial Crisis ◽  
The Impact

Abstract This paper addresses the impact that the previous economic crisis had on Spanish economy, focusing on the effects on employment. To this end, the data on the employed population drawn from the Economically Active Population Surveys are broken down by age groups, to analyse the 2008 financial crisis. The results show that crises do not affect all workers equally, because younger workers have suffered disproportionate job losses. Through multisectoral modeling, the impact that this job loss has had on the Spanish economy as a whole is also analyzed.Jel Codes: C67; E24; J23

scholarly journals The Regional Impact Transmission via International Trade: An ASIAN-IO Approach

2014 ◽  
Vol 16 (4) ◽  
pp. 315-346
Author(s):  
Ibrahim Ibrahim ◽  
Tri Winarno ◽  
Melva Viva ◽  
Yanfitri Yanfitri
Keyword(s):  
International Trade ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Value Added ◽  
Input Output ◽  
Asian Countries ◽  
Production Chain ◽  
The Us ◽  
Similar Point ◽  
The Impact

Global financial crisis which began in the US in the latter part of 2008 hit a lot of countries in both trade and finance. In trade aspect, the crisis spread widely; in Indonesia, the total export value in 2009 dropped to 14,3%. Therefore, the economy of China, tightly linked with Asian countries including Indonesia, which rapidly rose before the crisis but slowed after it should be monitored as this condition, could indirectly hold down Indonesia’s GDP. Applying RAS method to update Asian IO data, this research has attempted to describe the trade structure of Asian countries in 2010. Also, it implemented a simulation of the impact of US and China’s GDP decline and US exports on Indonesia’s GDP, both at aggregate and sector levels. The result of the mapping shows that Indonesia is getting more dependent on China. Generally, the link between Indonesia’s exported products and global production chain is weak. Indonesia’s export commodities which are mostly of intermediate goods have low contribution towards value added. Moreover, the result of the simulation shows that 1% decrease in China’s GDP has greater impact on Indonesia’s GDP (0,14%) than that of the US (0,05%) and EU (0,07%) though with similar point.  Keyword: Trade Interactions, Input Output ModelJEL Classification : F16, R15

scholarly journals The Impact of Transportation on the Croatian Economy: The Input–Output Approach

Economies ◽  
2021 ◽  
Vol 9 (1) ◽  
pp. 7
Author(s):  
Luka Vukić ◽  
Davor Mikulić ◽  
Damira Keček
Keyword(s):  
European Union ◽  
Value Added ◽  
International Perspective ◽  
Transport Sector ◽  
Input Output ◽  
Output Analysis ◽  
Gross Value Added ◽  
Transportation Sector ◽  
The Impact ◽  
Multiplicative Effects

The aim of this paper was to determine the economic impact of the transportation sector on the Croatian economy by using input–output analysis. According to the input–output tables for the Croatian economy for 2004, 2010, 2013, and 2015, output and gross value-added multipliers were calculated. The results of the conducted analysis indicated that the multiplicative effects of the transportation sector in Croatia were significant in the observed period, especially for the air transport sector. Furthermore, comparative multiplier analysis with selected European Union countries was performed to assess the Croatian transportation industry position from an international perspective. Lower output and gross value-added multipliers for the Croatian transportation sector imply that old European Union member states capitalized the transportation sector more for growth and development. The Croatian transportation sector recorded lower imported intermediate inputs, average domestic inputs, and higher value-added multipliers similar to new European Union members. Simulations based on multiplicative effects show that restrictions on movements and human contacts, imposed due to the COVID-19 pandemic, could induce a strong reduction in the economic activity of transport and other sectors that are included in the value-added chain of the transport industry.

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