IDEAS home Printed from https://ideas.repec.org/p/hal/journl/hal-04298779.html
   My bibliography  Save this paper

Optimal Policy After Covid Crisis In Europe, Chance Or Disaster?

Author

Listed:
  • Anna Tykhonenko

    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur)

  • Nahla Dhib

    (LJAD - Laboratoire Jean Alexandre Dieudonné - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur)

Abstract

This paper sought to examine the impact of policy-maker decisions on economic convergence in a period characterized by turbulence, uncertainty, and complexity, like the COVID-19 pandemic. Recognizing the critical need for structure in times, we used a Markov decision process. This framework has proven invaluable modeling for modeling making decision scenarios where outcomes are determined by actions of decision-makers. First, our study is deeply rooted in Bayesian approach which analyze growth dynamics. Then we used k-means clustering to categorize EU-states into three categories which allows us to analyze the performance of each group. By utilizing MDP model, we examine three political scenarios for decision-makers then basis on the assumptions of our model, we determined the optimal policy for the scenario which maximizes the reward function. We found that effective decision-making is crucial for achieving economic convergence in a post-crisis world. Furthermore, our research indicated that a global and coordinated approach might offer several benefits. The COVID-19 crisis could paradoxically provide an opportunity for poorer states to implement optimal policies they might not have been able to afford under normal circumstances.

Suggested Citation

  • Anna Tykhonenko & Nahla Dhib, 2022. "Optimal Policy After Covid Crisis In Europe, Chance Or Disaster?," Post-Print hal-04298779, HAL.
  • Handle: RePEc:hal:journl:hal-04298779
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:hal-04298779. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.