scholarly journals The Economic Effects of COVID-19 Containment Measures

2021 ◽  
Author(s):  
Pragyan Deb ◽  
Davide Furceri ◽  
Jonathan D. Ostry ◽  
Nour Tawk
Keyword(s):  
Economic Effects ◽  
Containment Measures

scholarly journals The Economic Effects of COVID-19 Containment Measures

2020 ◽  
Vol 20 (158) ◽  
Author(s):  
Pragyan Deb ◽  
Davide Furceri ◽  
Jonathan Ostry ◽  
Nour Tawk
Keyword(s):  
Monetary Policy ◽  
Economic Activity ◽  
Economic Effects ◽  
Economic Costs ◽  
Short Term ◽  
Absolute Value ◽  
Containment Measures ◽  
Policy Measures ◽  
Fiscal And Monetary Policy ◽  
Global Data

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.

Coronavirus may cut global growth to 2% in early 2020

2020 ◽  
Keyword(s):  
Financial Markets ◽  
Infection Rate ◽  
Economic Effects ◽  
Chinese People ◽  
Content Type ◽  
Economic Threat ◽  
Key Characteristics ◽  
Containment Measures ◽  
The Impact ◽  
Global Growth

Subject Economic impact of the coronavirus. Significance The shape of the human and economic effects of such epidemics can be easily mapped, but the scale and length can vary enormously. Critical factors determining this include the key characteristics of the virus, the efficacy of containment measures and the type of economies involved. China accounts for a far larger share of world GDP and trade than in past decades, and this epidemic poses a serious economic threat in coming months. The death rate seems to be much lower than for SARS in 2003 but the infection rate is far higher. The third key characteristic, the incubation rate, is similar, at two weeks. Impacts The epidemic and the ensuing economic turbulence will continue for at least two months despite substantial quarantine efforts. If the infection rate is similar to annual flu strains and quarantining is ineffective, many millions of Chinese people could be infected. The pharmaceutical industry aims to produce a vaccine in record time, boosting confidence in the ability of science to manage outbreaks. Financial markets enjoyed a New Year rally, but volatility is likely to surge as markets will struggle to price the impact of the outbreak.

scholarly journals The effects of COVID-19 vaccines on economic activity

2022 ◽  
Vol 158 (1) ◽  
Author(s):  
Pragyan Deb ◽  
Davide Furceri ◽  
Daniel Jimenez ◽  
Siddharth Kothari ◽  
Jonathan D. Ostry ◽  
...  
Keyword(s):  
Economic Activity ◽  
High Frequency ◽  
Nonlinear Effects ◽  
Economic Benefits ◽  
Economic Effects ◽  
Equitable Access ◽  
Vaccination Rates ◽  
Containment Measures ◽  
Cross Country ◽  
Country Specific

AbstractThis paper empirically examines the economic effects of COVID-19 vaccine rollouts using a cross-country daily database of vaccinations and high-frequency indicators of economic activity—nitrogen dioxide (NO2) emissions, carbon monoxide (CO) emissions, and Google mobility indices—for a sample of 46 countries over the period December 16, 2020 to June 20, 2021. Using surprises in vaccines administered, we find that an unexpected increase in vaccination per capita is associated with a significant increase in economic activity. We also find evidence for nonlinear effects of vaccines, with the marginal economic benefits being larger when vaccination rates are higher. Country-specific conditions play an important role, with lower economic gains if strict containment measures are in place or if the country is experiencing a severe outbreak. Finally, the results provide evidence of spillovers across borders, highlighting the importance of equitable access to vaccines across nations.

scholarly journals Analysis of lockdown perception in the United States during the COVID-19 pandemic

2021 ◽  
Author(s):  
Francesco Vincenzo Surano ◽  
Maurizio Porfiri ◽  
Alessandro Rizzo
Keyword(s):  
United States ◽  
Temporal Analysis ◽  
The United States ◽  
Economic Effects ◽  
Economic Factors ◽  
Political Orientations ◽  
Containment Measures ◽  
Spatio Temporal ◽  
Different Parts ◽  
Socio Economic Factors

AbstractContainment measures have been applied throughout the world to halt the COVID-19 pandemic. In the United States, several forms of lockdown have been adopted in different parts of the country, leading to heterogeneous epidemiological, social, and economic effects. Here, we present a spatio-temporal analysis of a Twitter dataset comprising 1.3 million geo-localized Tweets about lockdown, from January to May 2020. Through sentiment analysis, we classified Tweets as expressing positive or negative emotions about lockdown, demonstrating a change in perception during the course of the pandemic modulated by socio-economic factors. A transfer entropy analysis of the time series of Tweets unveiled that the emotions in different parts of the country did not evolve independently. Rather, they were mediated by spatial interactions, which were also related to socio-ecomomic factors and, arguably, to political orientations. This study constitutes a first, necessary step toward isolating the mechanisms underlying the acceptance of public health interventions from highly resolved online datasets.

French men's professional basketball under the economic shock of the Covid-19

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yann Carin ◽  
Cyprien Desquennes ◽  
Lukas Jaworski ◽  
Wladimir Andreff
Keyword(s):  
Economic Model ◽  
Economic Effects ◽  
Product Diversification ◽  
Short Term ◽  
Health Crisis ◽  
Content Type ◽  
Professional Basketball ◽  
Men's Basketball ◽  
Financial Difficulties ◽  
Containment Measures

PurposeThe purpose of this paper is to analyse the economic effects of Covid-19 on French men's professional basketball club championships. Three research questions are raised: What are the characteristics of the economic model of French men's professional basketball? Has this economic model changed over the 2008/2009 to 2018/2019 period? What are the economic effects of the Covid-19 crisis on the finance of French men's professional basketball clubs?Design/methodology/approachRelying on a privileged access to the financial data of professional clubs in the two top-tier divisions (456 observations: 222 in Pro A/Jeep Elite and 234 in Pro B), this research focuses on economic models of French men's professional basketball clubs. The breakdown of revenues, expenses and financial performance is examined over the 2008/2009 to 2018/2019 period. The short-term economic effects of Covid-19 are measured over the 2019/2020 and 2020/2021 seasons.FindingsThe Covid-19 crisis, at least in the short term (2019/2020 season), has affected revenues and expenses. With the closedown of the championship, two out of three main revenue sources have significantly decreased, while two main expense sources have decreased as well. The net incomes of Jeep Elite and Pro B clubs are in the black contrasting with the 2018/2019 season (pre-Covid) owing to clubs having benefited from governmental and federal measures and a stronger support from local authorities and their shareholders.Practical implicationsGiven the financial difficulties that clubs would have faced without governmental support, the federation and leagues would be well advised to develop a real crisis management competence within professional clubs. Owners of French professional men’s basketball clubs must increasingly adopt product diversification strategies to be better prepared for future crises.Originality/valueRecent research on the economic effects of Covid-19 has focused on professional and amateur football. To the best of our knowledge, one does not avail detailed research on the potential effects of a health crisis fought with containment measures on professional basketball clubs. French professional basketball deserves to be studied because it has the third largest professional league revenue (behind football and rugby) and it is the second most practiced sport in France. Its sources of finance, which are different from those witnessed in football and rugby, also make it an appropriate subject for study.

Eurasian Economic union: Prospects and challenges for Development

2015 ◽  
pp. 87-108 ◽  
Author(s):  
A. Knobel
Keyword(s):  
Oil And Gas ◽  
Economic Effects ◽  
Necessary Condition ◽  
Gas Transfer ◽  
Eurasian Economic Union ◽  
Economic Union ◽  
Food Imports ◽  
Cis Countries ◽  
Integration Problems ◽  
Integration Challenge

The paper is devoted to the analysis of development prospects and problems of Eurasian Economic Union (EAEU) of Russia, Kazakhstan, Belarus and Armenia. It considers integration problems inside EAEU, interactions of EAEU with other CIS countries and with countries from the rest of the world. The paper shows that the major integration challenge inside EAEU is the domination of the redistributive motive over the creative one. It estimates the value of the oil and gas transfer from Russia to other EAEU members and the influence of the Russian tax maneuver on this transfer. The paper shows the need in redistribution mechanism inside EAEU as a necessary condition for getting the potential positive economic effects of free trade with other countries. It also assesses the risks for EAEU due to Russian embargo for food imports from countries of the sanctions list and possible application of tariff in the trade with Ukraine.

Economic effects of monetary policy in Russia: What do large datasets tell us?

2020 ◽  
pp. 31-53 ◽  
Author(s):  
Anna A. Pestova ◽  
Natalia A. Rostova
Keyword(s):  
Monetary Policy ◽  
Interest Rate ◽  
Interest Rates ◽  
Economic Activity ◽  
Global Financial Crisis ◽  
Exchange Rate Regime ◽  
Aggregate Demand ◽  
Economic Effects ◽  
Theoretical Concepts ◽  
Empirical Estimates

Is the Bank of Russia able to control inflation and, at the same time, manage aggregate demand using its interest rate instruments? In other words, are empirical estimates of the effects of monetary policy in Russia consistent with the theoretical concepts and experience of advanced economies? This paper is aimed at addressing these issues. Unlike previous research, we employ “big data” — a large dataset of macroeconomic and financial data — to estimate the effects of monetary policy in Russia. We focus exclusively on the period after the 2008—2009 global financial crisis when the Bank of Russia announced the abandoning of its fixed ruble exchange rate regime and started to gradually transit to an interest rate management. Our estimation results do not confirm standard responses of key economic activity and price variables to tightening of monetary policy. Specifically, our estimates do not reveal a statistically significant restraining effect of the Bank of Russia’s policy of high interest rates on inflation in recent years. At the same time, we find a significant deteriorating effect of the monetary tightening on economic activity indicators: according to our conservative estimates, each of the key rate increases occurred in March and December 2014 had led to a decrease in the industrial production index by about 0.2 percentage points within a year.

Economic Effects of 2004-2009 Tax Reforms: Retrospective Analysis

2012 ◽  
pp. 108-123
Author(s):  
E. Penukhina ◽  
D. Belousov ◽  
K. Mikhailenko
Keyword(s):  
Retrospective Analysis ◽  
Tax Policy ◽  
Economic Effects ◽  
Tax Policies ◽  
Policy Changes ◽  
Tax Reforms ◽  
Russian Economy ◽  
Balanced Budget ◽  
Budget System

The article determines, describes and analyzes phases of tax reforms in Russia. We estimate macroeconomic and fiscal effects of various tax policies held during the second and third phases of tax reforms. The necessity of providing a balanced budget system, as well as complex assessment of effects of tax policy changes for the development of the Russian economy is noted.

Socio-economic effects of labor migration from small towns of Russia

2016 ◽  
pp. 103-123 ◽  
Author(s):  
N. Mkrtchyan ◽  
Y. Florinskaya
Keyword(s):  
Migrant Workers ◽  
Labor Migration ◽  
Small Towns ◽  
Economic Benefits ◽  
Economic Effects ◽  
Spatial Mobility ◽  
Positive Effects ◽  
High Labor ◽  
Standardized Interview

The article examines labor migration from small Russian towns: prevalence of the phenomenon, the direction and duration of trips, spheres of employment and earnings of migrants, social and economic benefits of migration for households. The representative surveys of households and migrant-workers by a standardized interview were conducted in four selected towns. Authors draw a conclusion about high labor spatial mobility of the population of small towns and existence of positive effects for migrant’s households and the economy of towns themselves.

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