Containing the Virus or Reviving the Economy? Evidence from Individual Expectations during the COVID-19 Epidemic

Li, Keyang; Qin, Yu; Wu, Jing; Yan, Jubo

doi:10.2139/ssrn.3563597

Cited by 16 publications

(16 citation statements)

References 7 publications

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“…e experience from China suggested that it is possible to contain the virus if governments implement tried and tested public health outbreak responses [3,4]. Furthermore, Li et al [5] suggest that during an epidemic, policymakers should prioritise measures to contain the spread of the disease instead of favouring economic activities.…”

Section: Introductionmentioning

confidence: 99%

COVID-19 Outbreak in Colombia: An Analysis of Its Impacts on Transport Systems

Arellana

Márquez

Cantillo

2020

Journal of Advanced Transportation

162

120

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The global COVID-19 outbreak has demanded drastic actions and policies from the governments and local authorities to stem the spread of the virus. Most of the measures involve behavioural changes from citizens to reduce their social contact to a minimum. Thus, these actions influence individual activity patterns and transport systems in different ways. This paper studies the short-term impacts on the transport system caused by the different policies adopted by the Colombian government and local authorities to contain the COVID-19 spread. Using official and secondary data concerning the seven most populated cities in Colombia, we analyse the impacts on three components of the transport system: air transport, freight transport, and urban transport. Results show that national policies and local decisions have decreased the demand for motorised trips across the cities, diminishing congestion levels, reducing transit ridership, and creating a reduction in transport externalities. The country banned air transport for passengers and only allowed air cargo for medical and necessary supplies, which will have negative consequences for the economics of the airline industry. During the first three months of the COVID-19, freight was the most resilient transport component. However, freight trips diminished around 38%, affecting mainly the supply chain of nonessential products. During the pandemic, governments need to provide subsidies to maintain the system supply to avoid crowdedness and promote active transport by allocating less-used street space to cyclists and pedestrians. In the short term, transportation service providers will face a financial crisis, deepened by the pandemic, which will require government assistance for their recovery.

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Section: Introductionmentioning

confidence: 99%

COVID-19 Outbreak in Colombia: An Analysis of Its Impacts on Transport Systems

Arellana

Márquez

Cantillo

2020

Journal of Advanced Transportation

162

120

View full text Add to dashboard Cite

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“…At least 25 provinces and cities have issued nearly 90 relevant policies to support the small and medium-sized micro-enterprises affected by the epidemic (Wong et al, 2020). Plans include financial support, innovation support, public support, legal support, and so on; among them, the most frequent support measures are increasing credit intensity, maintaining credit scale, reducing financing cost, giving a financial discount, delaying tax payment, reducing rent, tax-free fee, stabilizing subsidy, and so on (Li, Qin, et al, 2020). These policies will improve the viability of SMEs to a certain extent and then ensure the micro vitality of the economy.…”

Section: Adequate Support For Smesmentioning

confidence: 99%

“…In 2003, the monetary policy adopted the way of "reducing revenue and expenditure" to reduce the tax burden of some industries, which is in the same line with the idea of taking tax reduction and fee reduction as the main starting point of the active fiscal policy in recent years. In 2020, the central government's deficit target is likely to be adjusted to exceed the 3% level (K. Li, Qin, et al, 2020). Besides, we should make use of the low-cost financing advantages of national debt to raise funds further to increase tax reduction and fee reduction (Adda, 2016).…”

Section: Smart and Active Fiscal Policymentioning

confidence: 99%

Impact of COVID-19 Pandemic on Consumer Economy: Countermeasures Analysis

2021

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The COVID-19 pandemic will change China’s macroeconomic environment in terms of total demand and total supply in the next one to two quarters. The article compares the economic environment at present and that of severe acute respiratory syndrome (SARS) to define the potential influence of the new coronavirus (COVID-19). The potential impact on the macroeconomy includes the slower growth of consumption and investment, fluctuation of prices, and the contraction of export and import. The policy environment will also change in terms of monetary and fiscal policy, which will affect firms’ financing and tax paying. The impact on the consumer economy will be large. First, three modes of the influence on different types of retail industries include moderate, positive, and negative. The epidemic accelerates the revolution of business patterns in China, since the no-man delivery, sinking market, and indoors economy have emerged as the new powers in changing the business models. In general, although the impact of the epidemic on consumption seems comparatively the largest, the “compensatory consumption” can alleviate it to some extent.

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“…When the Dutch and American public were probed with the question of what they value more, pro-health or pro-economy, in the context of the pandemic, an overwhelming majority of participants supported both dimensions [13,37]. In contrast, a study conducted in China which assessed whether the public cared more about containing the virus or sustaining normal economic activities during the pandemic, found that economic expectations are significantly affected by the severity of the pandemic, rather than by the level of economic recovery [38]. Therefore, in accordance with the studies' findings, containment measures for the virus must first be prioritized, as a lower number of COVID-19 cases significantly correlated to increases in individual expectation for Gross Domestic Product (GDP) growth rate [38].…”

Section: General Public Views and Tradeoff Prioritiesmentioning

confidence: 99%

Deciphering the COVID-19 Health Economic Dilemma (HED): A Scoping Review

Kaim

Gering

Moshaiov

et al. 2021

IJERPH

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Lessons learnt from the initial stages of the COVID-19 outbreak indicate the need for a more coordinated economic and public health response. While social distancing has been shown to be effective as a non-pharmaceutical intervention (NPI) measure to mitigate the spread of COVID-19, the economic costs have been substantial. Insights combining epidemiological and economic data provide new theoretical predictions that can be used to better understand the health economy tradeoffs. This literature review aims to elucidate perspectives to assist policy implementation related to the management of the ongoing and impending outbreaks regarding the Health Economic Dilemma (HED). This review unveiled the need for information-based decision-support systems which will combine pandemic spread modelling and control, with economic models. It is expected that the current review will not only support policy makers but will also provide researchers on the development of related decision-support-systems with comprehensive information on the various aspects of the HED.

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Containing the Virus or Reviving the Economy? Evidence from Individual Expectations during the COVID-19 Epidemic

Cited by 16 publications

References 7 publications

COVID-19 Outbreak in Colombia: An Analysis of Its Impacts on Transport Systems

COVID-19 Outbreak in Colombia: An Analysis of Its Impacts on Transport Systems

Impact of COVID-19 Pandemic on Consumer Economy: Countermeasures Analysis

Deciphering the COVID-19 Health Economic Dilemma (HED): A Scoping Review

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