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The effectiveness of government measures in the first wave of Covid-19 pandemic

Author

Listed:
  • Emilie Jasova

    (University of Finance and Administration Prague)

  • Bozena Kaderabkova

    (Prague University of Economics and Business)

Abstract

The aim of the article is to use empirical analysis to confirm the applicability of NAIRU and NARRU concepts to evaluate the adequacy of measures against Covid 19. While higher NAIRU than NARRU throughout the coronavirus pandemic period confirmed the achievement of an epidemic-economic balance in the labor market at the cost of spreading the epidemic, a lower positive unemployment gap in the NAIRU concept indicated a milder recession than the epidemic in society would require. The Czech government should have either introduced a stricter lockdown or should have provided enough respirators, tests, and vaccines. The application of the NAIRU concept also confirms its suitability for use in economic and political practice in an unstable period.

Suggested Citation

  • Emilie Jasova & Bozena Kaderabkova, 2022. "The effectiveness of government measures in the first wave of Covid-19 pandemic," International Journal of Economic Sciences, European Research Center, vol. 11(1), pages 19-36, April.
    • Handle: RePEc:aop:jijoes:v:11:y:2022:i:1:p:19-36
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    References listed on IDEAS

    as
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    Cited by:

    1. Lucie Brozova & Petr Dlask & Zita Prostjeovska, 2022. "Evaluation of Price Fluctuation of Determining Materials for Total Construction Cost," Proceedings of Economics and Finance Conferences 12915597, International Institute of Social and Economic Sciences.
    2. KOTEN Marek & ŠIMŮNEK Lubor & SMOLÁK Pavel & BEDNÁŘ Milan & ZUBÍKOVÁ Adéla & ŠEVČÍK Miroslav, 2022. "Blanket Restrictive Measures in the Czech Republic During the COVID-19 Pandemic – A Trade-Off Concept Application," European Journal of Interdisciplinary Studies, Bucharest Economic Academy, issue 02, June.

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    More about this item

    Keywords

    Phillips curve; NAIRU; NARRU; economic cycle;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications

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