The Economic and Financial Impacts of the Covid-19 Crisis Around the World: Expect the Unexpected

The Economic and Financial Impacts of the Covid-19 Crisis Around the World: Expect the Unexpected provides an informed, research-based deep understanding of the COVID-19 crisis and its impacts on the businesses, consumers, banks, and financial markets and effectiveness of reactions of governments and policymakers in the U.S. and around the world. It provides reflections and perspectives on the social costs and benefits of various policies undertaken and a toolkit of preventive measures to deal with crises beyond COVID-19 crisis. Authors Allen N. Berger, Mustafa U. Karakaplan, and Raluca A. Roman put the COVID-19 economic crisis in context by comparing it to two other massive crises from the past-the Crash of 1929 and the Global Financial Crisis of 2007-2009-to help illustrate how crises that originate in financial markets and in the banking sector differ from one another as well as from the COVID-19 crisis that harmed the real economy first. They also compare the U.S. policies and outcomes in the COVID-19 crisis to those in other nations with different policy responses to the pandemic. They assess the important costs and benefits of various government policy responses to the programs and suggest potential policy implications for prospective future economic crises. The book takes a holistic approach that considers the effects of policies taken in advance of crises as well as when they are occurring and pay particular attention to the speed and magnitude of the policy reactions.Economics and finance students and researchers can use the information in this book to innovate, create new research, and make informed decisions. Bank executives can learn about tools to better shield institutions from future crises, and regulators and policy makers can learn how to make informed policy decisions beyond COVID-19. Financial analysts and anyone with a basic knowledge of economics and finance can keep themselves up to date on developments in economics and finance and general causes, consequences, and policies for the COVID-19 crisis and others. Serves as a compendium of available research on COVID-19 and policies in response to it and effects on economy, banking and financial markets Uniquely compares the COVID-19 crises with two other prominent global crises: the Global Financial Crisis and the Crash of 1929 Offers a toolkit of measures to prevent and address future crises, informing readers about possible responses to future crises by exploring how they were dealt with in the past and the costs and benefits of the actions taken INDICE: Part I. Introductory Materials 1. Introduction to the COVID-19 crisis, resulting policies, and related topics in the book 2. Theoretical framework on cycles and crises 3. Putting the COVID-19 crisis into context - A comparison with other global crises 4. COVID-19 crisis as a black swan event - A comparison with natural disaster shocks Part II. Economic and financial effects of the COVID-19 shocks 5. Empirical evidence from the U.S. on the economic and financial effects of the COVID-19 shocks 6. Empirical evidence from the rest of the world on the economic and financial effects of the COVID-19 crisis Part III. Government policy reactions to the economic and financial consequences of the COVID-19 Crisis 7. Policy reactions of the U.S. government to the economic and financial consequences of the COVID-19 crisis 8. Policy reactions of the governments in the rest of the world to the economic and financial consequences of the COVID-19 crisis Part IV. Research Evidence on the Micro Effects of COVID-19 Crisis Policies 9. U.S. evidence: the Paycheck Protection Program (PPP) 10. U.S. evidence: Other CARES Act Policies Mainly Affecting Consumers 11. Evidence from the rest of the world Part V. The Extraordinary Macro Recoveries in the Real Economy, Banking System, and Financial Markets 12. U.S. evidence 13. Evidence from the rest of the world Part VI. Shock absorbers - Policies to improve resilience of the real economy, banking sector, and financial markets 14. Shock absorbers for the real economy 15. Shock absorbers for the banking sector 16. Shock absorbers for financial markets Part VII. Beyond the COVID-19 Crisis and Future Implications 17. Social costs and benefits of selected policies 18. Implications for policymakers 19. Open research questions

• ISBN: 978-0-443-19162-6
• Editorial: Academic Press
• Encuadernacion: Rústica
• Páginas: 300
• Fecha Publicación: 01/06/2023
• Nº Volúmenes: 1
• Idioma: Inglés