Download or read book Households Income and the Cushioning Effect of Fiscal Policy Measures During the Great Lockdown written by Vanda Almeida and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyse the impact of the COVID-19 crisis on EU households' income and assess the cushioning effect of discretionary policy measures taken by the EU Member States. Our assessment is based on the European Commission Spring 2020 forecasts and counterfactual scenarios under a no policy change assumption. Our analysis suggests that over the course of 2020, on average, households' disposable income in the EU would fall by -5.9% due to the COVID-19 crisis without discretionary policy measures, and by -3.6% with policy intervention, pointing to a significant cushioning effect of these measures in protecting households against income losses. Furthermore, our results confirm that the impact of the COVID-19 crisis is likely to be highly regressive, with the poorest households being the most severely hit. However, discretionary policy measures are expected to contain the regressive effects of the recession, resulting in a quite homogeneous impact along the income distribution. Poverty, as measured by the at risk of poverty (AROP) rate, would increase significantly, even in presence of policy measures (+1.7pp), although this result depend on whether we anchor the poverty line to its pre-crisis level. When doing so, the impact of the COVID crisis on poverty becomes very close to the one observed in the aftermath of the financial crisis (i.e. +0.1pp) once policy measures are considered. Given the sheer size of the COVID shock, we might consider that the anchored poverty line may provide a more reliable assessment of the impact of the Great lockdown on poverty, however. Policy interventions are therefore seen as instrumental in cushioning against the impact of the crisis on inequality and poverty. Finally, our results suggest that the social impact of the Great Lockdown is likely to be much larger than the one experienced during the 2008/2009 financial crisis, at least for what concerns the immediate impact of the crisis.

Download or read book The Short and Winding Road to 2030 Measuring Distance to the SDG Targets written by OECD and published by OECD Publishing. This book was released on 2022-04-27 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2030 Agenda for Sustainable Development has an unprecedented ambition, but also confronts countries with an enormous challenge given the complex and integrated nature of the Agenda with its 17 Goals, underpinned by 169 Targets. To assist national governments with their implementation, the OECD has developed a unique methodology allowing comparison of progress across SDG goals and targets, and also over time.

Download or read book Research on Economic Inequality written by Sanghamitra Bandyopadhyay and published by Emerald Group Publishing. This book was released on 2021-12-02 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume of Research on Economic Inequality contains research on how we measure poverty, inequality and welfare and how these measurements contribute towards policies for social mobility. The volume contains eleven papers, some of which focus on the uneven impact of the Covid-19 pandemic on poverty and welfare.

Download or read book The Distributional Impact of Recessions the Global Financial Crisis and the Pandemic Recession written by Mr.Ippei Shibata and published by International Monetary Fund. This book was released on 2020-06-19 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using the U.S. Current Population Survey data, this paper compares the distributional impacts of the Pandemic Crisis and those of the Global Financial Crisis in terms of (i) worker characteristics, (ii) job characteristics–“social” (where individuals interact to consume goods), “teleworkable” (where individuals have the option of working at home), and “essential” jobs (which were not subject to government mandated shut-downs during the recent recession), and (iii) wage distributions. We find that young and less educated workers have always been affected more in recessions, while women and Hispanics were more severely affected during the Pandemic Recession. Surprisingly, teleworkable, social and essential jobs have been historically less cyclical. This historical acyclicality of teleworkable occupations is attributable to its higher share of skilled workers. Unlike during the Global Financial Crisis, however, employment in social industries fell more whereas employment in teleworkable and essential jobs fell less during the Pandemic Crisis. Lastly, during both recessions, workers at low-income earnings have suffered more than top-income earners, suggesting a significant distributional impact of the two recessions.

Download or read book The Work of the Future written by David H. Autor and published by MIT Press. This book was released on 2022-06-21 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why the United States lags behind other industrialized countries in sharing the benefits of innovation with workers and how we can remedy the problem. The United States has too many low-quality, low-wage jobs. Every country has its share, but those in the United States are especially poorly paid and often without benefits. Meanwhile, overall productivity increases steadily and new technology has transformed large parts of the economy, enhancing the skills and paychecks of higher paid knowledge workers. What’s wrong with this picture? Why have so many workers benefited so little from decades of growth? The Work of the Future shows that technology is neither the problem nor the solution. We can build better jobs if we create institutions that leverage technological innovation and also support workers though long cycles of technological transformation. Building on findings from the multiyear MIT Task Force on the Work of the Future, the book argues that we must foster institutional innovations that complement technological change. Skills programs that emphasize work-based and hybrid learning (in person and online), for example, empower workers to become and remain productive in a continuously evolving workplace. Industries fueled by new technology that augments workers can supply good jobs, and federal investment in R&D can help make these industries worker-friendly. We must act to ensure that the labor market of the future offers benefits, opportunity, and a measure of economic security to all.

Download or read book Does Inequality Matter How People Perceive Economic Disparities and Social Mobility written by OECD and published by OECD Publishing. This book was released on 2021-11-18 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recovery after the COVID-19 crisis requires policies and reforms that tackle inequalities and promote equal opportunities. However, the implementation of such reforms requires widespread support from the public. To better understand what factors drive public support, this report provides a detailed cross-country analysis of people’s perceptions of and concern over inequality.

Download or read book Who Bore the Brunt of the Pandemic in Europe Shifting Private Stress to the Public Sector written by and published by International Monetary Fund. This book was released on 2021-07-15 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Europe, the severe human toll of the COVID-19 pandemic was compounded by the deepest fall in economic activity in modern history. Yet this huge decline in output did surprisingly little damage to the aggregate financial balance sheets of firms and households. This paper discusses how unprecedented policy support transferred private sector income losses to the public sector’s balance sheet and contrasts this experience to that of the global financial crisis.

Download or read book Defying the Odds Remittances During the COVID 19 Pandemic written by Mr. Kangni R Kpodar and published by International Monetary Fund. This book was released on 2021-07-16 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides an early assessment of the dynamics and drivers of remittances during the COVID-19 pandemic, using a newly compiled monthly remittance dataset for a sample of 52 countries, of which 16 countries with bilateral remittance data. The paper documents a strong resilience in remittance flows, notwithstanding an unprecedent global recession triggered by the pandemic. Using the local projection approach to estimate the impulse response functions of remittance flows during Jan 2020-Dec 2020, the paper provides evidence that: (i) remittances responded positively to COVID-19 infection rates in migrant home countries, underscoring its role as an important automatic stabilizer; (ii) stricter containment measures have the unintended consequence of dampening remittances; and (iii) a shift from informal to formal remittance channels due to travel restrictions appears to have also played a role in the surge in formal remittances. Lastly, the size of the fiscal stimulus in host countries is positively associated with remittances as the fiscal response cushions the economic impact of the pandemic.

Download or read book Policy Advice to Asia in the COVID 19 Era written by Changyong Rhee and published by International Monetary Fund. This book was released on 2021-03-05 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Asia-Pacific region was the first to be hit by the COVID-19 pandemic; it put a strain on its people and economies, and policymaking became exceptionally difficult. This departmental paper contains the assessment of the key challenges facing Asia at this critical juncture and policy advice to the region both to address the current challenges and to build the foundations for a more sustainable and inclusive future. The paper focuses on (1) adjusting to the COVID-19 shock, (2) using unconventional policies when policy space is limited, (3) dealing with debt, and (4) helping the vulnerable and greening the recovery. The paper first presents the different ways countries are adjusting to the COVID-19 shock.

Download or read book Emerging European Economies after the Pandemic written by László Mátyás and published by Springer Nature. This book was released on 2022-03-11 with total page 610 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume examines the development path of eight Central and Eastern European countries with an overlapping historical background that joined the European Union between 2004 and 2013, and identifies the main similarities and differences between the countries concerned. Based on wide comparative data analysis of Bulgaria, Croatia, The Czech Republic, Hungary, Poland, Romania, Slovakia, and Slovenia, each chapter in the volume provides detailed information about the state of the economy in a specific area preceding the pandemic shock. The book offers a detailed snapshot of the state of the different areas of the economy, starting from the time when the countries concerned came out of the 2008 financial crisis, up to the date when COVID-19 hit. Further, each chapter analyzes the effects of this unprecedented shock on a particular field, which is followed by highlighting the main problems the countries are facing at present and in the near future, together with identifying the available policy options. Finally, before concluding and making general and country-specific policy recommendations, some thoughts will be given to longer-term prospects. More specifically, the question of how the subject area could contribute to avoiding the "middle-income-trap" that this region may be facing will be addressed. The comprehensive approach makes this volume a must-read for scholars and students of economics, as well as policy decision-makers in Europe, interested in a better understanding of the region's economic development.

Download or read book The Short Term Impact of COVID 19 on Labor Markets Poverty and Inequality in Brazil written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-03-05 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: We document the short-term impact of the COVID-19 pandemic on the Brazilian labor market focusing on employment, wages and hours worked using the nationally representative household surveys PNAD-Continua and PNAD COVID. Sectors most susceptible to the shock because they are more contact-intensive and less teleworkable, such as construction, domestic services and hospitality, suffered large job losses and reductions in hours. Given low income workers experienced the largest decline in earnings, extreme poverty and the Gini coefficient based on labor income increased by around 9.2 and 5 percentage points, respectively, due to the immediate shock. The government’s broad based, temporary Emergency Aid transfer program more than offset the labor income losses for the bottom four deciles, however, such that poverty relative to the pre-COVID baseline fell. At a cost of around 4 percent of GDP in 2020 such support is not fiscally sustainable beyond the short-term and ended in late 2020. The challenge will be to avoid a sharp increase in poverty and inequality if the labor market does not pick up sufficiently fast in 2021.

Download or read book Effects of Fiscal Stimulus in Structural Models written by Mr. Michael Kumhof and published by International Monetary Fund. This book was released on 2010-03-01 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper assesses, using seven structural models used heavily by policymaking institutions, the effectiveness of temporary fiscal stimulus. Models can, more easily than empirical studies, account for differences between fiscal instruments, for differences between structural characteristics of the economy, and for monetary-fiscal policy interactions. Findings are: (i) There is substantial agreement across models on the sizes of fiscal multipliers. (ii) The sizes of spending and targeted transfers multipliers are large. (iii) Fiscal policy is most effective if it has some persistence and if monetary policy accommodates it. (iv) The perception of permanent fiscal stimulus leads to significantly lower initial multipliers.

Download or read book OECD Employment Outlook 2020 Worker Security and the COVID 19 Crisis written by OECD and published by OECD Publishing. This book was released on 2020-07-07 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2020 edition of the OECD Employment Outlook focuses on worker security and the COVID-19 crisis.

Download or read book OECD Economic Surveys Belgium 2022 written by OECD and published by OECD Publishing. This book was released on 2022-06-14 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: Belgium’s recovery from the COVID-19 pandemic has been robust thanks to extensive policy support. However, the new shock from the war in Ukraine is exacerbating inflation, and supply and labour market shortages, highlighting the importance of boosting the resilience of the Belgian economy.

Download or read book World Inequality Report 2022 written by Lucas Chancel and published by Harvard University Press. This book was released on 2022-11 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: World Inequality Report 2022 is the most authoritative and comprehensive account of global trends in inequality, providing cutting-edge information about income and wealth inequality and also pioneering data about the history of inequality, gender inequality, environmental inequalities, and trends in international tax reform and redistribution.

Download or read book Policy Actions for COVID 19 Economic Recovery written by Ramesh Subramaniam and published by Asian Development Bank. This book was released on 2021-07-01 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Policy Actions for COVID-19 Economic Recovery (PACER) Dialogues were held from June to September 2020 as the coronavirus disease (COVID-19) pandemic accelerated around the world. They shared cutting-edge knowledge and best practices to help countries in Southeast Asia and the People's Republic of China strengthen cooperation to mitigate the devastating effects of COVID-19 and accelerate their economic recovery. This compendium of 13 policy briefs summarizes the discussions, recommendations, and actionable insights from the PACER Dialogues.

Download or read book Integrating Low Skilled Migrants in the Digital Age European and US Experience written by Gudrun Biffl (eds.) and published by Edition Donau-Universität Krems. This book was released on 2020-12-10 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book compares the effects of digitalization and automation on the working lives of low-skilled migrants in Europe and USA. The comparative analysis outlines the change in work and workers, and offers practical suggestions for policy makers, practitioners and all those interested in successfully integrating migrants.