A New World Post COVID-19

Pandemics are disruptive events that have profound consequences for society and the economy. This volume aims to present an analysis of the economic impact of COVID-19 and its likely consequences for our future. This is achieved by drawing from the expertise of authors who specialise in a wide range of fields including fiscal and monetary policy, banking, financial markets, pensions and insurance, artificial intelligence and big data, climate change, labour market, travel, tourism and politics, among others. We asked contributing authors to write their chapters for a non-technical audience so that their message could reach beyond academia and professional economists to policy makers and the wider society. The material in this volume draws from the latest research and provides a wealth of ideas for further investigations and opportunities for reflection. This also makes it an ideal learning tool for economics and finance students wishing to gain a deeper understanding of how COVID-19 could influence their disciplines.

PROBLEMS OF THE VENTSPILS REGION LABOUR MARKET AND PROPOSALS FOR SITUATION IMPROVEMENT

There are several studies carried out on the problems of the Ventspils region labour market, but due to rapid changes in the economic situation, the results of these studies no longer accurately reflect the current situation. The aim of the paper is to present the research for identification and analysing of specific problems in the Ventspils region labour market and propose solutions for situation improvement. The research has examined the relationship between labour market change, labour market conditions and employers’ expectations in Ventspils region. The research is based on both secondary data analysis and primary data analysis obtained in a quantitative (questionnaire survey of entrepreneurs – employers) way and a qualitative way (interviews with representatives of the non-governmental sector). The analysis also showed that the main problem of the labour market related to lack of a qualified, skilled and motivated labour force. It is very important to identify opportunities for increasing qualifications and re-qualification in cooperation with educational institutions and the State Employment Agency. The problem was also the employment of persons before retirement and persons with disabilities. Therefore, there are necessary new, more effective mechanisms of involvement of these groups in the labour market, which are based on cooperation with NGOs, continuing education possibilities and social entrepreneurship. The role of the municipality is very important in this process.

Flexicurity - Challenge to Improve Czech Labour Market

Flexicurity - Challenge to Improve Czech Labour Market Flexicurity reflects the current basic trend of the EU in guaranteeing high employment levels and attainability of national fiscal systems. It was introduced in Denmark in the 1990s and significantly helped reduce unemployment levels. The Czech labour market, despite the transformation process, has still space for further improvement, especially in the time of economic slow-down. The best way is to try to apply elements and components which have been already successfully implemented in the other EU Member States. The aim of the paper is (based on the statistical indicators and official documents concerning labour markets topic) to describe the basic function of the model and find the components of the flexicurity model which could be used also in the Czech Republic and change labour market operation.

An Ever-Rising Tide? Poverty in Australia in the Eighties

As in many other countries, the eighties have seen the re-emergence of poverty as a political issue in Australia. Rising unemployment and the increased incidence of sole parenthood have put more children at risk of poverty, a development which has prompted increased policy concern. This paper presents estimates of the incidence and structure of poverty in Australia in 1981–82, 1985–86 and 1989–90, using the poverty standard developed by the Poverty Commission in the seventies. The estimates for 1989–90 are based on data generated from the 1986 Income Distribution Survey by a microsimulation model that allows for trends in demographic change, labour market participation and income during the second half of the eighties. The results indicate that the overall poverty rate has increased from 9.2 per cent in 1981–82 to 12.8 per cent in 1989–90. This is despite the fact that the incomes of many low income groups have increased in real terms, in many cases substantially. The reason for this apparent paradox is that the poverty standard is a relative one, and has thus itself been increased in line with average community incomes. One of the conclusions of the paper is that it may be necessary to reconsider the use of a relative poverty standard when assessing short-run trends in the extent of poverty.