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Covid-19: The World Economy Needs a Lifeline – But Which One?

Author

Listed:
  • Dorine Boumans
  • Sebastian Link
  • Stefan Sauer

Abstract

This paper from Dorine Boumans, Sebastian Link and Stefan Sauer (EconPol Europe, ifo Institute) presents the results of a survey of 1000 economic experts in 110 countries on the economic effects of the Covid-19 pandemic and the effectiveness of different policy measures to combat the crisis for different countries. The results indicate that economies all around the globe are severely hit by the Covid-19 crisis. The experts perceive the reductions in investment to have the strongest impact on their domestic economies. In consequence, the experts expect a severe recession in almost all countries in 2020, followed by a long period of economic recovery. The experts rate emergency liquidity assistance to firms as well as temporary tax deferrals for businesses as the most effective policy measures, but do not regard other responses such as helicopter money or lenient bank supervision as being well suited to combat the crisis.

Suggested Citation

  • Dorine Boumans & Sebastian Link & Stefan Sauer, 2020. "Covid-19: The World Economy Needs a Lifeline – But Which One?," EconPol Policy Brief 27, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
  • Handle: RePEc:ces:econpb:_27
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    File URL: https://www.ifo.de/DocDL/EconPol_Policy_Brief_27_COVID19_Economy_Lifeline.pdf
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    Cited by:

    1. Petr Polak & Lubos Komarek & Iveta Polaskova & Pavla Netusilova, 2020. "The fiscal policy reaction to COVID-19, or the fast way out of the crisis," Occasional Publications - Chapters in Edited Volumes, in: CNB Global Economic Outlook - May 2020, pages 12-19, Czech National Bank.
    2. Dorine Boumans & Pauliina Sandqvist & Stefan Sauer, 2020. "World Economy: What Does the Road to Recovery from COVID-19 Look Like? Expert Survey on Worldwide Effects of the Pandemic," EconPol Policy Reports 26, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    3. Otilia Manta, 2020. "Measures and Possible Support Solutions of the Sustainable European Economy in the Context of Actual Crises," European Journal of Marketing and Economics, European Center for Science Education and Research, vol. 3, May - Aug.

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