Uncertainty in the Euro Area During the First Wave of the COVID-19 Pandemic - 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 Uncertainty in the Euro Area During the First Wave of the COVID-19 Pandemic write by . This book was released on 2020. Uncertainty in the Euro Area During the First Wave of the COVID-19 Pandemic available in PDF, EPUB and Kindle. Uncertainty - a state in which assessing future conditions by economic agents is hampered - rose sharply during the current pandemic. A bout of uncertainty can have similar effects like an adverse demand shock, dampening private consumption, investment and, hence, inflation. According to our own estimations, however, the pandemic-induced spike of uncertainty has caused little macroeconomic damage so far. The introduction of PEPP was a quick and decisive action that stopped uncertainty from rising further and probably contained its adverse economic effects. This document was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 19 November 2020.
Economic Policy, COVID-19 and Corporations
Economic Policy, COVID-19 and Corporations - 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 Economic Policy, COVID-19 and Corporations write by Katarzyna Mroczek-Dąbrowska. This book was released on 2023-06-22. Economic Policy, COVID-19 and Corporations available in PDF, EPUB and Kindle. This book addresses the economic impact of the COVID-19 outbreak on Central and East European countries and examines the effect the pandemic has had on organizations in the region. It focuses on the widely understood business environment, covering companies’ responses to the crisis, the role of institutions in stabilizing markets, and the reshaping of global business trends. The book is a complex and multidimensional work that draws its roots from distinct yet simultaneously interlinked research areas. All of the chapters, whether they refer to macro-, meso-, or micro-perspectives, always highlight how crises – global and regional – change the global trends we have observed in business in the last 20 years. The book includes the most topical issues that delineate public discourse on firms’ resilience. In this way, it ‘connects the dots’ and uncovers the missing links necessary for any reader wishing to understand the specificity of contemporary companies’ responses to unexpected events such as pandemics or geopolitical crises. Further, it tackles questions such as what role institutions play in building the adaptive capacity of companies, how companies build their resilience capacity for 21st-century crises, and what the significance is of the uncertainty, the information asymmetry, and the bounded rationality concept on the company’s decision-making process. The book will find a broad audience among academics and students across diverse fields of study, as well as practitioners and policymakers. It is a key reference for all those who want to better understand the complex nature of uncertainty, crisis management, and its implications, not only for CEE countries but, first and foremost, the business environment.
Economic Uncertainty in the Post-Pandemic Era
Economic Uncertainty in the Post-Pandemic 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 Economic Uncertainty in the Post-Pandemic Era write by Fatma Feyza Gunduz. This book was released on 2024-12-10. Economic Uncertainty in the Post-Pandemic Era available in PDF, EPUB and Kindle. This book underscores the post-COVID global uncertainties that are still occurring on the world stage and presents the recent challenges such as geo-political tensions, war, economic disturbances, climate change, the energy crisis in Europe, recessions in developed economies and their effect on developing and least developed economies.
Euro Area Policies
Euro Area Policies - 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 Euro Area Policies write by International Monetary Fund. European Dept.. This book was released on 2020-12-22. Euro Area Policies available in PDF, EPUB and Kindle. The COVID-19 pandemic has led to severe socio-economic dislocations and hardship. Supported by an unprecedented policy response and by the easing of lockdown measures as the infection rate moderated, the euro area economy initially recovered strongly from the pandemic’s first wave. However, a large second wave and reimposition of containment measures suggest much slower growth momentum in the near term. The outlook is for a subdued economic recovery and low inflation, with a significant permanent output loss relative to the pre-crisis trajectory. Uncertainty remains extremely high, mainly due to different pandemic scenarios, including regarding the availability and effectiveness of potential vaccines and therapies and behavioral changes. Output growth is expected to be much lower through 2021Q1 than projected in 2020 October World Economic Outlook (WEO) but may rebound beyond then in light of recent promising news on vaccine development. The key policy challenge is to continue countering the pandemic while facilitating a robust and inclusive recovery, including by addressing the health crisis, containing economic scarring, supporting resource reallocation and transformation to greener and more digital economies, and limiting the crisis’s impact on inequality and poverty. In a downside scenario, sizable further stimulus would be needed.
A Comprehensive Macroeconomic Uncertainty Measure for the Euro Area and Its Implications to COVID-19
A Comprehensive Macroeconomic Uncertainty Measure for the Euro Area and Its Implications to COVID-19 - 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 A Comprehensive Macroeconomic Uncertainty Measure for the Euro Area and Its Implications to COVID-19 write by Mariarosaria Comunale. This book was released on 2023-11-03. A Comprehensive Macroeconomic Uncertainty Measure for the Euro Area and Its Implications to COVID-19 available in PDF, EPUB and Kindle. This paper develops a new data-driven metric to capture MacroEconomic Uncertainty (MEU) in the euro area. The measure is constructed as the conditional volatility of the unforecastable components of a large set of time series, accounting for the monetary union as well as cross-country heterogeneity. MEU exhibits the largest spike at the time of the COVID-19 outbreak and is noticeably different from other more financial-oriented and policy-driven uncertainty measures. It also reveals a significant increase in inflation uncertainty in 2021-2022. Our BVAR-based analysis shows that an unexpected increase in the MEU has a negative and persistent impact on euro area's industrial production, accounting for 80 percent of its reduction during the first wave of COVID-19, therefore supporting the interpretation of COVID-19 shock as a macroeconomic uncertainty shock. Public debt increases in response to this uncertainty shock. Finally, an increase in MEU negatively affects Emerging Europe countries, contributing the most to the decline in their economic activity during this COVID-19 period.
