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Economic Policies for COVID-19

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  • Anand, Paul

    (The Open University)

Abstract

This note describes some of the early policy developments in the UK and the way in which the framing and understanding of a novel economic problem evolved to include a focus on livelihoods combining social protection and business support orientations. It highlights various points including the rapid iterative nature of policy development based on consultation in the face of uncertainty, as well as a trade-off between risk-sharing with commercial banks to limit adverse selection and the rapid prevention of insolvencies. We consider some of the policy-making lessons to date and conclude with suggestions for issues that policy makers might consider to support workers in the near and medium term.

Suggested Citation

  • Anand, Paul, 2020. "Economic Policies for COVID-19," IZA Policy Papers 156, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izapps:pp156
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    References listed on IDEAS

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    1. Anand, Paul & Krishnakumar, Jaya & Tran, Ngoc Bich, 2011. "Measuring welfare: Latent variable models for happiness and capabilities in the presence of unobservable heterogeneity," Journal of Public Economics, Elsevier, vol. 95(3-4), pages 205-215, April.
    2. Faia, Ester & Lechthaler, Wolfgang & Merkl, Christian, 2013. "Fiscal stimulus and labor market policies in Europe," Journal of Economic Dynamics and Control, Elsevier, vol. 37(3), pages 483-499.
    3. AgneÌ€s BeÌ nassy-QueÌ reÌ & Ramon Marimon & Jean Pisani- Ferry & Lucrezia Reichlin & Dirk Schoenmaker & Beatrice Weder di Mauro, 2020. "COVID-19: Europe needs a catastrophe relief plan," Vox eBook Chapters, in: AgneÌ€s BeÌ nassy-QueÌ reÌ & Beatrice Weder di Mauro (ed.), Europe in the Time of Covid-19, edition 1, volume 1, chapter 1, pages 109-112, Centre for Economic Policy Research.
    4. John Dagsvik & Tom Kornstad & Terje Skjerpen, 2013. "Labor force participation and the discouraged worker effect," Empirical Economics, Springer, vol. 45(1), pages 401-433, August.
    5. Ewart Keep & Ken Mayhew, 2010. "Moving beyond skills as a social and economic panacea," Work, Employment & Society, British Sociological Association, vol. 24(3), pages 565-577, September.
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    Cited by:

    1. Chakwizira, James, 2022. "Stretching resilience and adaptive transport systems capacity in South Africa: Imperfect or perfect attempts at closing COVID -19 policy and planning emergent gaps," Transport Policy, Elsevier, vol. 125(C), pages 127-150.
    2. Andersen, Torben M. & Schröder, Philipp J. H. & Svarer, Michael, 2020. "Designing Reopening Strategies in the Aftermath of COVID-19 Lockdowns: Some Principles with an Application to Denmark," IZA Policy Papers 158, Institute of Labor Economics (IZA).
    3. Nguyen Ngoc Thach, 2023. "Applying Monte Carlo Simulations to a Small Data Analysis of a Case of Economic Growth in COVID-19 Times," SAGE Open, , vol. 13(2), pages 21582440231, June.
    4. Chivu, Luminița & Georgescu, George, 2020. "Vulnerabilități ale pieței muncii din România sub impactul COVID-19 [Labor market vulnerabilities under the COVID-19 impact in Romania]," MPRA Paper 101676, University Library of Munich, Germany.
    5. Chivu, Luminita & Georgescu, George, 2021. "Employment and Labour Market Vulnerabilities during COVID-19. The Case of Romania," Working Papers of National Institute for Economic Research 210325, Institutul National de Cercetari Economice (INCE).
    6. DUTCAS, Monica Florica, 2020. "The Changing Labour Market: Digitization, Unemployment Trends, And The Minimum Wage," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 8(1), pages 15-25, October.

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    More about this item

    Keywords

    COVID-19; furlough; fiscal response; labour market policy; workers; social contract;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • J00 - Labor and Demographic Economics - - General - - - General
    • H - Public Economics
    • P1 - Political Economy and Comparative Economic Systems - - Capitalist Economies

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