E-Books published by the Centre for Economic Policy Research:
Economics in the Time of COVID-19, edited by Richard Baldwin and Beatrice Weder di Mauro
COVID-19 may be as contagious economically as it is medically. This eBook addresses some key questions: How, and how far and fast, will the economic damage spread? How bad will it get? How long will the damage last? What are the mechanisms of economic contagion? And, above all, what can governments do about it?
Mitigating the COVID Economic Crisis: Act Fast and Do Whatever It Takes, edited by Richard Baldwin and Beatrice Weder di Mauro
Leading economists from around the world are calling for swift policy action to mitigate the economic damage from the global pandemic. In this second eBook on the coronavirus from CEPR and Vox, the experts are unanimous that the case for decisive and coordinated fiscal stimulus is overwhelming.
Organisation for Economic Co-operation and Development (OECD) Policy Briefs:
Covid-19: SME Policy Responses
This note is developed by the OECD Centre for Entrepreneurship, SMEs, Regions and Cities (CFE). It examines how SMEs are likely to be affected by the current coronavirus epidemic, reports on early evidence and estimates about the impact, and provides a preliminary inventory of country responses to foster SME resilience.
Supporting people and companies to deal with the Covid-19 virus: Options for an immediate employment and social-policy response
The unfolding Covid-19 crisis is challenging people, households and firms in unprecedented ways. Containing the pandemic and protecting people is the top priority. But disrupted supply chains, containment measures that are limiting economic and social interactions and falling demand put people’s jobs and livelihoods at risk. An immediate employment and social-policy response is needed. Reducing workers’ exposure to Covid-19 in the workplace and ensuring access to income support for sick and quarantined workers are essential. Working parents need help with unforeseen care needs as schools are closing and elderly relatives are particularly vulnerable. Short-time work schemes can help protect jobs and provide relief to struggling companies, as evidenced during the last financial and economic crisis. Workers who lose their jobs and incomes, including those in non-standard forms of employment, need income support. As companies are suffering from a sharp drop in demand, rapid financial support through grants or credits can help them bridge liquidity gaps. Many affected countries introduced or announced bold measures over the last days and weeks, often with a focus on supporting the most vulnerable who are bearing a disproportionate share of the burden. This note and the accompanying policy table contribute to evidence-sharing on the role and effectiveness of various policy tools.
International Labour Organization (ILO) Note:
COVID-19 and world of work: Impacts and responses
This note offers the ILO’s preliminary assessment concerning the possible impacts of COVID-19 on the world of work and proposes a range of policy options to mitigate these impacts and facilitate strong and fast recovery.
ANU Centre for Applied Macroeconomic Analysis (CAMA) Working Paper:
The global macroeconomic impacts of COVID-19: Seven scenarios, by Warwick McKibbin and Roshen Fernando
The outbreak of coronavirus named COVID-19 has disrupted the Chinese economy and is spreading globally. The evolution of the disease and its economic impact is highly uncertain which makes it difficult for policymakers to formulate an appropriate macroeconomic policy response. In order to better understand possible economic outcomes, this paper explores seven different scenarios of how COVID-19 might evolve in the coming year using a modelling technique developed by Lee and McKibbin (2003) and extended by McKibbin and Sidorenko (2006). It examines the impacts of different scenarios on macroeconomic outcomes and financial markets in a global hybrid DSGE/CGE general equilibrium model.
The scenarios in this paper demonstrate that even a contained outbreak could significantly impact the global economy in the short run. These scenarios demonstrate the scale of costs that might be avoided by greater investment in public health systems in all economies but particularly in less developed economies where health care systems are less developed and popultion density is high.
On the blog
JobKeeper Could Be a Depression Beater, by Chris Edmond, Steven Hamilton and Bruce Preston.
Open Letter to the Prime Minister: Extend Coronavirus Support to Temporary Workers, by Peter Whiteford.
The Government’s Fiscal Tool Kit for COVID-19, by Miranda Stewart and Peter Whiteford.
The Australian Government Opens a Coronavirus Super Loophole: It’s Legal to Put Your Money In, Take It Out, and Save on Tax, by Robert Breunig and Tristram Sainsbury.
Coronavirus Supplement: Your Guide to the Australian Payments That Will Go to the Extra Million on Welfare, by Peter Whiteford and Bruce Bradbury.
When It Comes to Sick Leave, We’re Not Much Better Prepared for Coronavirus Than the US, by Peter Whiteford and Bruce Bradbury.
Recent Comments