Macro-Financial Implications of the COVID-19 Pandemic
This paper examines the macro-financial implications of the COVID-19 pandemic. The pandemic represents a massive macro-economic demand and supply shock with significant adverse ramifications for global economic growth, employment, and poverty and d...
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World Bank, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/428531592796638957/Macro-Financial-Implications-of-the-COVID-19-Pandemic http://hdl.handle.net/10986/33955 |
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okr-10986-339552021-05-25T09:56:49Z Macro-Financial Implications of the COVID-19 Pandemic Utz, Robert Feyen, Erik Vazquez Ahued, Francisco Nie, Owen Moon, Jisung FINANCIAL RISK MACROECONOMIC MANAGEMENT CORONAVIRUS COVID-19 PANDEMIC RESPONSE ECONOMIC GROWTH PUBLIC EXPENDITURE MACRO-FINANCIAL POLICY FISCAL POLICY DEBT This paper examines the macro-financial implications of the COVID-19 pandemic. The pandemic represents a massive macro-economic demand and supply shock with significant adverse ramifications for global economic growth, employment, and poverty and demands an unprecedented response by national policy makers and international organizations. Prior to the outbreak of the pandemic, many economies already displayed increased macro-financial vulnerabilities in the form of high levels of debt of households, businesses, and the public sector, secular stagnation of economic growth, and an extended period of quantitative easing and low interest rates. The economic impact of the pandemic in the form of a global recession due to social distancing measures, losses of revenue and income for households, businesses, and the public sector, increased public spending to manage the health impacts, contain the pandemic, and protect vulnerable businesses, households, state-owned enterprises, and public entities adds significantly to pre-existing macro-financial vulnerabilities. Managing these vulnerabilities will be critical for a resilient recovery from the COVIC-19 pandemic, requiring a range of short- and medium term macro-financial policy measures. 2020-06-22T15:12:26Z 2020-06-22T15:12:26Z 2020-04-01 Working Paper http://documents.worldbank.org/curated/en/428531592796638957/Macro-Financial-Implications-of-the-COVID-19-Pandemic http://hdl.handle.net/10986/33955 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research :: Working Paper Publications & Research |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
| building |
World Bank Open Knowledge Repository |
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World Bank |
| language |
English |
| topic |
FINANCIAL RISK MACROECONOMIC MANAGEMENT CORONAVIRUS COVID-19 PANDEMIC RESPONSE ECONOMIC GROWTH PUBLIC EXPENDITURE MACRO-FINANCIAL POLICY FISCAL POLICY DEBT |
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FINANCIAL RISK MACROECONOMIC MANAGEMENT CORONAVIRUS COVID-19 PANDEMIC RESPONSE ECONOMIC GROWTH PUBLIC EXPENDITURE MACRO-FINANCIAL POLICY FISCAL POLICY DEBT Utz, Robert Feyen, Erik Vazquez Ahued, Francisco Nie, Owen Moon, Jisung Macro-Financial Implications of the COVID-19 Pandemic |
| description |
This paper examines the macro-financial
implications of the COVID-19 pandemic. The pandemic
represents a massive macro-economic demand and supply shock
with significant adverse ramifications for global economic
growth, employment, and poverty and demands an unprecedented
response by national policy makers and international
organizations. Prior to the outbreak of the pandemic, many
economies already displayed increased macro-financial
vulnerabilities in the form of high levels of debt of
households, businesses, and the public sector, secular
stagnation of economic growth, and an extended period of
quantitative easing and low interest rates. The economic
impact of the pandemic in the form of a global recession due
to social distancing measures, losses of revenue and income
for households, businesses, and the public sector, increased
public spending to manage the health impacts, contain the
pandemic, and protect vulnerable businesses, households,
state-owned enterprises, and public entities adds
significantly to pre-existing macro-financial
vulnerabilities. Managing these vulnerabilities will be
critical for a resilient recovery from the COVIC-19
pandemic, requiring a range of short- and medium term
macro-financial policy measures. |
| format |
Working Paper |
| author |
Utz, Robert Feyen, Erik Vazquez Ahued, Francisco Nie, Owen Moon, Jisung |
| author_facet |
Utz, Robert Feyen, Erik Vazquez Ahued, Francisco Nie, Owen Moon, Jisung |
| author_sort |
Utz, Robert |
| title |
Macro-Financial Implications of the COVID-19 Pandemic |
| title_short |
Macro-Financial Implications of the COVID-19 Pandemic |
| title_full |
Macro-Financial Implications of the COVID-19 Pandemic |
| title_fullStr |
Macro-Financial Implications of the COVID-19 Pandemic |
| title_full_unstemmed |
Macro-Financial Implications of the COVID-19 Pandemic |
| title_sort |
macro-financial implications of the covid-19 pandemic |
| publisher |
World Bank, Washington, DC |
| publishDate |
2020 |
| url |
http://documents.worldbank.org/curated/en/428531592796638957/Macro-Financial-Implications-of-the-COVID-19-Pandemic http://hdl.handle.net/10986/33955 |
| _version_ |
1764479894537895936 |