We estimate the impact of fiscal stimulus measures enacted in response to COVID-19 on U.S. GDP, investment and exports. We apply a dynamic computable general equilibrium model adept at estimating total direct and indirect effects and their time-path. Initial stimulus bills, including the CARES Act, reduced the potential decline in GDP resulting from the pandemic by 7.1 percentage points in early 2020. Later rounds were not as beneficial, largely due to crowding out of investment. Unemployment benefits provided a larger increase in GDP than direct and indirect payments to individuals, and corporate tax relief had a positive impact on growth.

This book presents carefully selected chapters from the proceedings of the 6th International Scientific Conference on Business and Economics (ISCBE),Tetovo, North Macedonia, which took place in May 2023. The chapters address a wide range of areas relevant to contemporary business and economics issues such as economic shocks, high inflation, energy crisis, COVID-19, growth prospects, economic forecast, labor market, gender inequalities, migration, entrepreneurship, and family businesses, firm development and innovations, technological transformation, etc. Researchers learn about the latest studies that discuss emerging challenges and perspectives of business and economics in the perspective of post-crisis economic recovery, consolidation, and stability.

This book explores the unparalleled adversities and strain that the COVID-19 pandemic caused on the social and economic lives of people. The book allows readers a glimpse into the experiences of death of near and dears, loss of livelihood, psychological trauma, restrictions on movement and social life, shifts in international relations, and effects on big and small industries caused by the pandvnemic. It focusses on the major shifts caused within communities and highlights how politics, power dynamics, and socio-cultural systems have been reset and recovered during recent times. The volume also offers suggestions to offset economic hardships the pandemic has caused especially to the poor and marginalized as well as policy changes to help governments and communities to build more resilient economic and health infrastructure and support systems. With interdisciplinary contributions, this book is an essential read for students and researchers of public health, social sciences, health economics, healthcare management, development studies, public policy, and South Asian studies.

On March 12th 2020, World Health Organization (WHO) declared the spreading of the new virus, 2019-nCoV, a pandemic. In Asia, the virus, more commonly referred to as COVID-19, has been spreading since the end of December. To contain the public health threat, almost all countries enforced a variety of measures, including lockdowns, to minimize face-to-face human interactions between the infected and the susceptible.While these vigilant measures save lives, they also generate a substantial negative economic shock that immediately halts demand and significantly disrupts supply, global production value chain and trade. The consequences are dire — considerable decline in output, massive surge in unemployment, countless bankruptcy cases, and unrelentless worries over financial stability. The result, a worldwide economic setback, is more severe than that experienced during the Great Financial Crisis of 2008-2009.Asia's experiences with COVID-19 precede that in the West. This fortuitous timing allows Asia to share its learnings drawn from experiences to benefit the world.The Asian Bureau of Finance and Economic Research's (ABFER) community has gathered a collection of insights to inform the public. Besides providing access to research on the pandemic conducted in Asia, these commentaries offer comprehensive information on the effects of the pandemic, the effectiveness of measures employed to contain it and the subsequent economic impacts from such implementation. With granular analyses of government policies and their associated economic rescue packages, these commentaries elucidate the hard trade-offs between public health protection and economic security. Finally, the commentaries address the broader impact of the pandemic on international trade, global value chains and society.

A year after the first case was confirmed in Wuhan COVID-19 is proving hard to suppress even, while the emergence of more transmissible variants of the variant poses new challenges to the containment of the disease globally. The economies of the region began to bounce back in the second half of 2020. However, only China and Vietnam have followed a V-shape recovery path with output surpassing pre-COVID-19 levels. Most of the other countries have not seen a full-fledged recovery in terms of either output or growth momentum. Economic performance across countries continues to depend on (i) the efficiency with which the virus is contained; (ii) the ability to take advantage of the revival in international goods trade; and (iii) the capacity of governments to provide fiscal and monetary support. China and Vietnam are expected to enjoy strong growth in 2021, whereas other economies in the region will grow more gradually. Many economies, especially in the Pacific islands are not expected to reach pre-COVID-19 levels of output until 2022 or later. Governments in the region need to work cooperatively to address three key issues: (i) a regional and global distribution of vaccines that minimizes the risk of a continued spread of COVID-19 and its variants; (ii) continue to provide economic support to their economies while carefully evaluating the trade-offs between the need for further stimulus and debt sustainability; and (iii) enact policies and prioritize investments that protect against climate risk to ensure sustainable economic growth.

Macroeconomic Principles and Problems: A Pluralist Introduction offers a comprehensive overview of the major topics in modern macroeconomics, from mainstream and heterodox perspectives. This textbook examines the key macroeconomic problems and policy debates facing contemporary society, including economic crises, sustainability, fiscal and monetary policy, government debt, state-led vs. market-led approaches for growth, and unregulated trade vs. protectionism. Written in an engaging style and focused on real-world examples, this textbook brings macroeconomics to life. Multiple examples of how each economic model works, coupled with critical analysis of the assumptions behind them, enable students to develop a sophisticated understanding of the material. Digital supplements are also available for students and instructors. Macroeconomic Principles and Problems offers the most contemporary and complete package for any pluralist macroeconomics principles class.

This book reviews the historical evolution of U.S. monetary policy, and then uses various methods such as mathematical models and econometric analysis to study the impact of U.S. monetary policy adjustments on the domestic economy and the spillover effects on the world economy. Finally, it summarizes the challenges faced by the Chinese economy in the post financial crisis era and proposes relevant countermeasures and suggestions for China to respond to U.S. monetary policy adjustments.

This book assesses the impacts of COVID-19 on the Indonesian economy, particularly on employment, education, poverty, trade, and macroeconomy. The chapters explain how fiscal and monetary stimulus work and the roles of local governments in managing stimulus. It also presents paths to recovery and lessons learned from countries that have found success in mitigating the economic impacts of the pandemic (China, Germany, Singapore, and Vietnam). This text will be a useful reference for policy makers, scholars, students, and public audience working or interested in the fields of development economics, trade, health economics, economics, and East Asia.

The crisis triggered by the COVID-19 pandemic has been unlike any other the world has experienced, requiring social distancing and restrictions on mobility, and rendering some economic activity impossible. This publication explores and compares the characteristics that have affected the ability of firms, workers and consumers to maintain production, employment and consumption during the COVID-19 crisis, across industries and countries.