The Rise in Inequality After Pandemics: Can Fiscal Support Play a Mitigating Role? - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Rise in Inequality After Pandemics: Can Fiscal Support Play a Mitigating Role? write by Davide Furceri. This book was released on 2021-04-30. The Rise in Inequality After Pandemics: Can Fiscal Support Play a Mitigating Role? available in PDF, EPUB and Kindle. Major epidemics of the last two decades (SARS, H1N1, MERS, Ebola and Zika) have been followed by increases in inequality (Furceri, Loungani, Ostry and Pizzuto, 2020). In this paper, we show that the extent of fiscal consolidation in the years following the onset of these pandemics has played an important role in determining the extent of the increase in inequality. Episodes marked by extreme austerity—measured using either the government’s fiscal balance, health expenditures or redistribution—have been associated with an increase in the Gini measure of inequality three times as large as in episodes where fiscal policy has been more supportive. We survey the evidence thus far on the distributional impacts of the COVID-19 pandemic, which suggests that inequality is likely to increase in the absence of strong policy actions. We review the case made by many observers (IMF 2020; Stiglitz 2020; Sandbu 2020b) that fiscal support should not be withdrawn prematurely despite understandable concerns about high public debt-to-GDP ratios.
Recoveries After Pandemics: The Role of Policies and Structural Features
Recoveries After Pandemics: The Role of Policies and Structural Features - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Recoveries After Pandemics: The Role of Policies and Structural Features write by Juan Pablo Cuesta Aguirre. This book was released on 2021-07-09. Recoveries After Pandemics: The Role of Policies and Structural Features available in PDF, EPUB and Kindle. To shed light on the possible scarring effects from Covid-19, this paper studies the economic effects of five past pandemics using local projections on a sample of fifty-five countries over 1990-2019. The findings reveal that pandemics have detrimental medium-term effects on output, unemployment, poverty, and inequality. However, policies can go a long way toward alleviating suffering and fostering an inclusive recovery. The adverse output effects are limited for countries that provided relatively greater fiscal support. The increases in unemployment, poverty, and inequality are likewise lower for countries with relatively greater fiscal support and relatively stronger initial conditions (as defined by higher formality, family benefits, and health spending per capita).
Designing Fiscal Redistribution: The Role of Universal and Targeted Transfers
Designing Fiscal Redistribution: The Role of Universal and Targeted Transfers - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Designing Fiscal Redistribution: The Role of Universal and Targeted Transfers write by Mr.David Coady. This book was released on 2020-06-26. Designing Fiscal Redistribution: The Role of Universal and Targeted Transfers available in PDF, EPUB and Kindle. There is a growing debate on the relative merits of universal and targeted social assistance transfers in achieving income redistribution objectives. While the benefits of targeting are clear, i.e., a larger poverty impact for a given transfer budget or lower fiscal cost for a given poverty impact, in practice targeting also comes with various costs, including incentive, administrative, social and political costs. The appropriate balance between targeted and universal transfers will therefore depend on how countries decide to trade-off these costs and benefits as well as on the potential for redistribution through taxes. This paper discusses the trade-offs that arise in different country contexts and the potential for strengthening fiscal redistribution in advanced and developing countries, including through expanding transfer coverage and progressive tax financing.
Policy Advice to Asia in the COVID-19 Era
Policy Advice to Asia in the COVID-19 Era - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Policy Advice to Asia in the COVID-19 Era write by Changyong Rhee. This book was released on 2021-03-05. Policy Advice to Asia in the COVID-19 Era available in PDF, EPUB and Kindle. 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.
The Promise of Fintech
The Promise of Fintech - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Promise of Fintech write by Ms.Ratna Sahay. This book was released on 2020-07-01. The Promise of Fintech available in PDF, EPUB and Kindle. Technology is changing the landscape of the financial sector, increasing access to financial services in profound ways. These changes have been in motion for several years, affecting nearly all countries in the world. During the COVID-19 pandemic, technology has created new opportunities for digital financial services to accelerate and enhance financial inclusion, amid social distancing and containment measures. At the same time, the risks emerging prior to COVID-19, as digital financial services developed, are becoming even more relevant.
