scholarly journals The Economic Impact of the SARS-COV-2 (COVID-19) Pandemic in Spain

2021 ◽  
Author(s):  
Jaime Pinilla ◽  
Patricia Barber ◽  
Laura Vallejo-Torres ◽  
Silvia Rodríguez-Mireles ◽  
Beatriz González López-Valcárcel G. ◽  
...  
Keyword(s):  
Economic Impact ◽  
Credible Interval ◽  
Economic Effects ◽  
Spanish Economy ◽  
Cumulative Impact ◽  
Autonomous Communities ◽  
Services Sector ◽  
Structural Time Series ◽  
Productive System ◽  
The Impact

Background: The COVID-19 pandemic has hit the Spanish economy hard. The result is an unprecedented economic and social crisis due to uncertainty about the remedy, and due to the socio-economic effects on people’s lives. Methods: We performed a retrospective analysis of the macro-economic impact of COVID-19 in 2020, using the principal indicators of the Spanish economic and productive model. National statistics were examined in the search for impacts or anomalies occurring since the beginning of the pandemic. To estimate the strength of the impact on each of the indicators analysed, we used Bayesian structural time series. Results: In 2020, the cumulative impact on the Gross Domestic Product was of -11.41% [95% credible interval: -13.46; -9.29]. The indicator for Business Turnover fell by -9.37% [-12.71; -6.07]. The reduction in business activity was related to the sharp fall in demand. The Spanish employment market was strongly affected; our estimates showed a cumulative increase of 11.9% [4.27; 19.45] in the rate of unemployment during 2020. The autonomous communities which are economically the most heavily dependent on the services sector were those which recorded the worst indicators. Conclusions: Our estimates portray a dramatic situation in our country, and show all too clearly the fragility of a productive system which has to make the behavioural changes that are necessary to confront the COVID-19 pandemic.

scholarly journals The Economic Impact of the SARS-COV-2 (COVID-19) Pandemic in Spain

2021 ◽  
Vol 18 (9) ◽  
pp. 4708
Author(s):  
Jaime Pinilla ◽  
Patricia Barber ◽  
Laura Vallejo-Torres ◽  
Silvia Rodríguez-Mireles ◽  
Beatriz G. López-Valcárcel ◽  
...  
Keyword(s):  
Credible Interval ◽  
Statistical Association ◽  
Spanish Economy ◽  
Cumulative Impact ◽  
Autonomous Communities ◽  
Services Sector ◽  
Structural Time Series ◽  
Macroeconomic Impact ◽  
Key Indicators ◽  
The Impact

Background: The COVID-19 pandemic has hit both the Spanish economy and the population’s health hard. The result is an unprecedented economic and social crisis due to uncertainty about the remedy and the socioeconomic effects on people’s lives. Methods: We performed a retrospective analysis of the macroeconomic impact of the COVID-19 pandemic in 2020 using key indicators of the Spanish economy for the 17 Autonomous Communities (ACs) of the country. National statistics were examined in the search for impacts or anomalies occurring since the beginning of the pandemic. To estimate the strength of the impact on each of the indicators analyzed, we used Bayesian structural time series. We also calculated the correlation between the rate of GDP decline during 2020 and the cumulative incidence of COVID-19 cases per 100,000 inhabitants in the ACs. Results: In 2020, the cumulative impact on the gross domestic product was of −11.41% (95% credible interval: −13.46; −9.29). The indicator for business turnover changed by −9.37% (−12.71; −6.07). The Spanish employment market was strongly affected; our estimates showed a cumulative increase of 11.9% (4.27; 19.45) in the rate of unemployment during 2020. The worst indicators were recorded in the ACs most economically dependent on the services sector. There was no statistical association between the incidence of COVID-19 in 2020 and the fall in GDP in the ACs. Conclusions: Our estimates portray a dramatic situation in Spain, where the COVID-19 crisis has had more serious economic and health consequences than in other European countries. The productive system in Spain is too dependent on sectors vulnerable to the pandemic, and it is necessary to design and implement profound changes through the European Next Generation program.

scholarly journals A Comprehensive Estimation of the Economic Effects of Meteorological Services Based on the Input-Output Method

2014 ◽  
Vol 2014 ◽  
pp. 1-14 ◽  
Author(s):  
Xianhua Wu ◽  
Guo Wei ◽  
Lingjuan Yang ◽  
Ji Guo ◽  
Huaguo Lu ◽  
...  
Keyword(s):  
Delphi Method ◽  
Economic Effect ◽  
Economic Effects ◽  
Jiangxi Province ◽  
Preventive Strategies ◽  
Input Output ◽  
Services Sector ◽  
Leontief Inverse ◽  
The Impact ◽  
Industrial Economic

Concentrating on consuming coefficient, partition coefficient, and Leontief inverse matrix, relevant concepts and algorithms are developed for estimating the impact of meteorological services including the associated (indirect, complete) economic effect. Subsequently, quantitative estimations are particularly obtained for the meteorological services in Jiangxi province by utilizing the input-output method. It is found that the economic effects are noticeably rescued by the preventive strategies developed from both the meteorological information and internal relevance (interdependency) in the industrial economic system. Another finding is that the ratio range of input in the complete economic effect on meteorological services is about 1 : 108.27–1 : 183.06, remarkably different from a previous estimation based on the Delphi method (1 : 30–1 : 51). Particularly, economic effects of meteorological services are higher for nontraditional users of manufacturing, wholesale and retail trades, services sector, tourism and culture, and art and lower for traditional users of agriculture, forestry, livestock, fishery, and construction industries.

scholarly journals An NIH Investment in Health Equity - The Economic Impact of the Flint Center for Health Equity Solutions

2020 ◽  
Author(s):  
Cristian I. Meghea ◽  
Barrett Wallace Montgomery ◽  
Roni Ellington ◽  
Ling Wang ◽  
Clara Barajas ◽  
...  
Keyword(s):  
Health Disparities ◽  
Research And Development ◽  
Economic Impact ◽  
Health Equity ◽  
Economic Activity ◽  
Economic Impacts ◽  
Services Sector ◽  
Economic Output ◽  
Genesee County ◽  
The Impact

ABSTRACTBackgroundHealth disparities are pervasive and are linked to economic losses in the United States of up to $135 billion per year. The Flint Center for Health Equity Solutions (FCHES) is a Transdisciplinary Collaborative Center for health disparities research funded by the National Institute of Minority Health and Health Disparities (NIMHD). The purpose of this study was to estimate the economic impact of the 5-year NIH investment in FCHES in Genesee County, Michigan.MethodsThe estimated impacts of FCHES were calculated using a U.S.-specific input/output (I/O) model, IMPLAN, from IMPLAN Group, LLC., which provides a software system to access geographic specific data regarding economic sector interactions from a variety of sources. This allowed us to model the cross-sector economic activity that occurred throughout Genesee County, Michigan, as a result of the FCHES investment. The overall economic impacts were estimated as the sum of three impact types: 1. Direct (the specific expenditures impact of FCHES and the Scientific Research and Development Services sector); 2. Indirect (the impact on suppliers to FCHES and the Scientific Research and Development Services sector); and 3. Induced (the additional economic impact of the spending of these suppliers and employees in the county economy).ResultsThe total FCHES investment amounted to approximately $11 million between 2016-2020. Overall, combined direct, indirect, and induced impacts of the total FCHES federal investment in Genesee County included over 161 job-years, over $7.6 million in personal income, and more than $19.2 million in economic output. In addition, this combined economic activity generated close to $2.3 million in state/local and federal tax revenue. The impact multipliers show the ripple effect of the FCHES investment. For example, the overall output of over $19.2 million led to an impact multiplier of 1.75 – every $1 of federal FCHES investment led to an additional $.75 of economic output in Genesee County.ConclusionsThe FCHES research funding yields significant U.S. direct economic impacts above and beyond the direct NIH investment of $11 million. The economic impact estimation method may be relevant and generalizable to other TCCs or other large research centers such as FCHES.

scholarly journals Modelling Economic Effects of the Media Influence as Methodological Basis for Strategizing the Media System

2021 ◽  
Vol 10 (4) ◽  
pp. 711-733
Author(s):  
Sergey Vartanov
Keyword(s):  
Economic Impact ◽  
Quantitative Methods ◽  
National Level ◽  
Special Kind ◽  
Economic Effects ◽  
Strategy Development ◽  
Media System ◽  
The Media ◽  
Industrial Level ◽  
The Impact

This research focused on the impact of media industry on other sectors of the economy. Advertising is considered as a basic implementation mechanism of media’s economic impact on the economy. The study used the original classification of the effects of economic impact on the market at all levels, developed by the author. It examined the highest level of advertising associated with the shift in market structure and economic interactions of its members and elements. The effects of this type — tertiary ones — include not only changes in the properties of equilibrium due to advertising, but also the emergence of new types of market participants whose economic activity is determined exclusively by advertising-related goals. To describe such effects, models of marketing channels are used — a special kind of production chains that connect the preceding and subsequent units with the help of contracts for advertising and promotional activities, and models of multi-sided markets, complementing the analysis with the study of the behavior of intermediary firms that place advertisements in the media. and linking producers and consumers. Classical models of two-sided markets, considering media as platforms connecting consumers with producers, do not consider the simultaneous consumption of goods and content by the audience and the nature of the producing firms’ problems. Therefore, in this paper, the focus of the study was on the models of a three-sided market, which includes three types of participants (consumers, media firms and industrial firms). It is proposed to put such models of intersectoral relations as the basis for quantitative methods of strategizing the media system, including at the national level. At the level of strategizing of individual media enterprises or holdings, the proposed model makes it possible to predict the long-term strategies of competitors. At the industrial level of strategy development, the proposed methodology makes it possible to build key indicators that determine the strategic priorities of the industry development based on the properties of the three-sided market equilibrium.

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 An NIH investment in health equity - the economic impact of the Flint Center for Health Equity Solutions

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Cristian I. Meghea ◽  
Barrett Wallace Montgomery ◽  
Roni Ellington ◽  
Ling Wang ◽  
Clara Barajas ◽  
...  
Keyword(s):  
Health Disparities ◽  
Research And Development ◽  
Economic Impact ◽  
Health Equity ◽  
Economic Activity ◽  
Economic Impacts ◽  
Services Sector ◽  
Economic Output ◽  
Genesee County ◽  
The Impact

Abstract Background Health disparities are pervasive and are linked to economic losses in the United States of up to $135 billion per year. The Flint Center for Health Equity Solutions (FCHES) is a Transdisciplinary Collaborative Center for health disparities research funded by the National Institute of Minority Health and Health Disparities (NIMHD). The purpose of this study was to estimate the economic impact of the 5-year investment in FCHES in Genesee County, Michigan. Methods The estimated impacts of FCHES were calculated using a U.S.-specific input/output (I/O) model, IMPLAN, from IMPLAN Group, LLC., which provides a software system to access geographic specific data regarding economic sector interactions from a variety of sources. This allowed us to model the cross-sector economic activity that occurred throughout Genesee County, Michigan, as a result of the FCHES investment. The overall economic impacts were estimated as the sum of three impact types: 1. Direct (the specific expenditures impact of FCHES and the Scientific Research and Development Services sector); 2. Indirect (the impact on suppliers to FCHES and the Scientific Research and Development Services sector); and 3. Induced (the additional economic impact of the spending of these suppliers and employees in the county economy). Results The total FCHES investment amounted to approximately $11 million between 2016 and 2020. Overall, combined direct, indirect, and induced impacts of the total FCHES federal investment in Genesee County included over 161 job-years, over $7.6 million in personal income, and more than $19.2 million in economic output. In addition, this combined economic activity generated close to $2.3 million in state/local and federal tax revenue. The impact multipliers show the ripple effect of the FCHES investment. For example, the overall output of over $19.2 million led to an impact multiplier of 1.75 – every $1 of federal FCHES investment led to an additional $.75 of economic output in Genesee County. Conclusions The FCHES research funding yields significant direct economic impacts above and beyond the direct NIH investment of $11 million. The economic impact estimation method may be relevant and generalizable to other large research centers such as FCHES.

The Impact of a Potential Public/Private Initiative on a Defined Region of the South Suburban Chicago Metropolitan Area

2019 ◽  
pp. 14-32
Keyword(s):  
Supply Chain ◽  
Economic Impact ◽  
Impact Analysis ◽  
Census Data ◽  
Economic Benefits ◽  
Local Economy ◽  
Market Area ◽  
State And Local ◽  
The University ◽  
The Impact

The university is considered one of the engines of growth in a local economy or its market area, since its direct contributions consist of 1) employment of faculty and staff, 2) services to students, and supply chain links vendors, all of which define the University’s Market area. Indirect contributions consist of those agents associated with the university in terms of community and civic events. Each of these activities represent economic benefits to their host communities and can be classified as the economic impact a university has on its local economy and whose spatial market area includes each of the above agents. In addition are the critical links to the University, which can be considered part of its Demand and Supply chain. This paper contributes to the field of Public/Private Impact Analysis, which is used to substantiate the social and economic benefits of cooperating for economic resources. We use Census data on Output of Goods and Services, Labor Income on Salaries, Wages and Benefits, Indirect State and Local Taxes, Property Tax Revenue, Population, and Inter-Industry to measure economic impact (Implan, 2016).

Impact of Tourist Arrivals on Revenue Generation In Jammu and Kashmir

Think India ◽  
2019 ◽  
Vol 22 (2) ◽  
pp. 178-185
Author(s):  
Rayees Ahmad Wani ◽  
Dr. Ishrat Khan ◽  
Maqsoodah Akhter
Keyword(s):  
Economic Development ◽  
Economic Impact ◽  
Tourist Destination ◽  
Jammu And Kashmir ◽  
Revenue Generation ◽  
Policy Perspective ◽  
Secondary Sources ◽  
State Present ◽  
The Impact

The present study examined the impact of tourist arrivals on revenue generation. The results revealed that tourist arrivals accounts 51 per cent variation in revenue generation. Jammu and Kashmir State has a tremendous potential to become a major global tourist destination. Importance of tourism in J&K economy is known for decades now and its role in economic development has been an area of great interest from policy perspective. The tourism is being the key contributor in the economic development of J&K state. To understand the economic impact of tourism in the J&K state, present paper uses secondary sources of data and tries to examine the economic development such as tourist inflow, revenue generation.

Pension Reform in Russia: Assessing the Susceptibility of GDP Production to a Shift in the Number of the Working-Age Population

2019 ◽  
pp. 80-86
Author(s):  
T. P. Skufina ◽  
S. V. Baranov
Keyword(s):  
Pension Reform ◽  
Fixed Capital ◽  
Economic Effects ◽  
Pension Scheme ◽  
Retirement Age ◽  
Working Age ◽  
Working Age Population ◽  
Long Term Forecasting ◽  
The Impact

The presented study considers the susceptibility of gross domestic product (GDP) production to a shift in the number of the working-age population due to an increase in retirement age starting with 2019.Aim. The study aims to examine the quantitative assessments of GDP production in Russia with allowance for the changes in the number of the working-age population due to an increase in the actual retirement age.Tasks. The authors forecast the number of the working-age population with allowance for an increase in the retirement age; develop a model to establish a correlation between the number of the workingage population, investment in fixed capital, and GDP production; quantify the impact of the shift in the number of the working-age population on GDP production in Russia. Methods. This study is based on the results of modeling and long-term forecasting.Results. An economic-mathematical model to establish a correlation between the number of the working-age population, investment in fixed capital, and GDP production is presented. To specify the economic effects of a shift in the number of the working-age population due to an increase in the retirement age, Russia’s GDP production is forecasted for the “old” and “new” (increased retirement age) pension scheme. The forecast is provided for three variants of the number of the working-age population.Conclusions. It is found that with the “old” pension scheme with a lower retirement age GDP production across all three variants will decrease by 2036 compared to 2017. With regard to the “new” scheme that increases the retirement age, it is concluded that an increase in the retirement age is a factor that facilitates GDP production. However, its effect on economic growth will be insignificant.

scholarly journals The Economic Effects of Electromobility in Sustainable Urban Public Transport

Energies ◽  
2021 ◽  
Vol 14 (4) ◽  
pp. 878 ◽  
Author(s):  
Oliwia Pietrzak ◽  
Krystian Pietrzak
Keyword(s):  
Public Transport ◽  
Research Study ◽  
Renewable Energy Sources ◽  
Economic Benefits ◽  
Economic Effects ◽  
Urban Transport ◽  
Energy Mix ◽  
Zero Emission ◽  
The Impact ◽  
The Given

This paper focuses on effects of implementing zero-emission buses in public transport fleets in urban areas in the context of electromobility assumptions. It fills the literature gap in the area of research on the impact of the energy mix of a given country on the issues raised in this article. The main purpose of this paper is to identify and analyse economic effects of implementing zero-emission buses in public transport in cities. The research area was the city of Szczecin, Poland. The research study was completed using the following research methods: literature review, document analysis (legal acts and internal documents), case study, ratio analysis, and comparative analysis of selected variants (investment variant and base variant). The conducted research study has shown that economic benefits resulting from implementing zero-emission buses in an urban transport fleet are limited by the current energy mix structure of the given country. An unfavourable energy mix may lead to increased emissions of SO2 and CO2 resulting from operation of this kind of vehicle. Therefore, achieving full effects in the field of electromobility in the given country depends on taking concurrent actions in order to diversify the power generation sources, and in particular on increasing the share of Renewable Energy Sources (RES).

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