Top

Published in:

2021 | OriginalPaper | Chapter

4. Macro Economic Model of COVID-19 Pandemic Crisis

Author : Vladimir Čavrak

Published in: Macroeconomic Responses to the COVID-19 Pandemic

Publisher: Springer International Publishing

Activate our intelligent search to find suitable subject content or patents.

search-config

AI-assisted search

Off

Abstract

The economic crisis triggered by the COVID-19 virus is unique in economic history in its mode and rate of occurrence, global coverage, and consequences. The text reveals the mechanisms of the impact of health shock on the economy and the macroeconomic framework of mitigating and exiting the crisis. It uses the AS-AD macroeconomic model with vertical axis inflation for analysis. Empirical facts illustrate the case of the Republic of Croatia.

Dont have a licence yet? Then find out more about our products and how to get one now:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

inform now

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

inform now

previous chapter Short-Term Impact of COVID-19 in the Clusters of EU Market Economies

next chapter Central Bank’s Balance Sheet Management in Times of Systemic Crises

Baldwin, R. 2020. Keeping the Lights on: Economic Medicine for a Medical Shock. Dohvaćeno iz VOX CEPR Policy Portal, ožujak 13. https://voxeu.org/article/how-should-we-think-about-containing-covid-19-economic-crisis.

Blanchard, O., and D. Leigh. 2013. Growth Forecast Errors and Fiscal Multipliers. IMF Working Paper, WP/13/1. IMF, International Monetary Fund.

Blanchard, O., and J. Pisani-Ferry. 2020. Monetisation: Do Not Panic. VOX, CEPR Policy Portal, April 10. https://voxeu.org/article/monetisation-do-not-panic.

Caizzi, I. 2020. Coronavirus, all’Eurogruppo niente intesa su Mes e eurobond. Salta la conferenza stampa. Corriere della sere, L’Economia, April 8. https://www.corriere.it/economia/finanza/20_aprile_08/coronavirus-all-eurogruppo-niente-intesa-mes-eurobond-salta-conferenza-stampa-8548c3c4-7962-11ea-afb4-c5f49a569528.shtml?refresh_ce-cp.

Correia, S., S. Luck, and E. Verner. 2020. Pandemics Depress the Economy, Public Health Interventions Do Not: Evidence from the 1918 Flu. Preprint research paper, March 30. https://ssrn.com/abstract=3561560.

ECB. 2020. Recommendation of the European Central Bank. European Central Bank, March 27. https://www.ecb.europa.eu/ecb/legal/pdf/ecb_2020_19_f_sign.pdf.

Economist, T. 2020. Q2 Global Forecast 2020: Coronavirus Sinks Global Growth Forecasts for 2020. Dohvaćeno iz The Economist Intelligence Unit 2020. https://www.eiu.com/default.aspx.

Ed. Baldwin, R., and B. Weder di Mauro. 2020a. Dohvaćeno iz Mitigating the COVID Economic Crisis: Act Fast and Do Whatever It Takes. CEPR Press. https://voxeu.org/content/mitigating-covid-economic-crisis-act-fast-and-do-whatever-it-takes.

Ed. Baldwin, R., and B. Weder di Mauro. 2020b. Economics in the Time of Covid-19. CEPR Press: Economics in the Time of COVID-19.

Ed. Silvestre, C. 2020. The UniCredit Economics Chartbook, Quarterly, the Mother of All Recession Has Arrived. Milan: UniCredit, Macro Research.

Falck, O., and S. Schonherr. 2016. An Economic Reform Agenda for Croatia. IFO Institute, January 2016. https://www.ifo.de/DocDL/ifo_Forschungsberichte_70_2016_Falck_Schoenherr_Croatia.pdf.

Fornaro, L., & M. Wolf. 2020. Coronavirus and Macroeconomic Policy. VOX CEPR Policy Portal, March 10. https://voxeu.org/article/coronavirus-and-macroeconomic-policy.

Gechert, S., and A. Rannenberg. 2014. Are Fiscal Multipliers Regime-Dependent? A Meta Regression Analysis. Dusseldorf: IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.

Keynes, J.M. 1940. How to Pay for the War. London: Macmillan and Co., Ltd.

Marić, J. (2020). Na burzu stiglo 10 tisuća novih nezaposlenih, na “Vladinoj plaći” u Hrvatskoj čak pola milijuna ljudi. Novi list, 7. travanj 2020.

OECD. 2020. OECD Updates G20 Summit on Outlook for Global Economy. Dohvaćeno iz OECD, March 27. https://www.oecd.org/newsroom/oecd-updates-g20-summit-on-outlook-for-global-economy.htm.

Oliver, L. 2020. It Could Take Three Years for the US Economy to Recover From COVID-19, March 30. Retrieved From World Economic Forum. https://www.weforum.org/agenda/2020/03/economic-impact-covid-9/?utm_source=sfmc&utm_medium=email&utm_campaign=2715687_Agenda_weekly-3April2020-Campaign&utm_term=&emailType=Newsletter.

Surico, P., and A. Galeotti. 2020. The Economics of a Pandemic: The Case of Covid-19. Dohvaćeno iz London Business School, March 23. https://icsb.org/wp-content/uploads/2020/03/LBS_Covid19_final.pdf.pdf.pdf.pdf-1.pdf.pdf.

Valero, J. 2020. Commission Proposes Unprecedented Suspension of EU’s Fiscal Rules. Euractiv, March 20. https://www.euractiv.com/section/economy-jobs/news/commission-proposes-unprecedented-suspension-of-eus-fiscal-rules/.

Title: Macro Economic Model of COVID-19 Pandemic Crisis
Author: Vladimir Čavrak
Publisher: Springer International Publishing
Book: Macroeconomic Responses to the COVID-19 Pandemic
Print ISBN: 978-3-030-75443-3

Electronic ISBN: 978-3-030-75444-0

Copyright Year: 2021
DOI: https://doi.org/10.1007/978-3-030-75444-0_4