Macroeconomic policies and the pandemic-driven recession

Stock market volatility and the COVID-19 reproductive number

“…The COVID-19 pandemic is considered the most adverse peacetime shock to the global economy in a century ( World Bank, 2020 , p. 136). According to Baker et al (2020) , its effects on the volatility of financial markets has been the largest in the history of pandemics (see also Costa Junior et al, 2021 ), while Altig et al (2020) identify significant jumps in uncertainty as a reaction to the pandemic and its economic fallout. Such increases may have profound adverse effects on resource allocation ( Bloom, 2014 ) and financial stability ( Bekaert and Hoerova, 2014 ), so the pandemic has naturally boosted academic debate on its effect on the financial markets worldwide.…”

Guest editorial: The effect of COVID-19 on the performance of ethnic-minority firms in the UK and worldwide

“…The COVID-19 crisis, which was declared as a global pandemic in March 2020 brought several economic and social consequences worldwide. For example, existing economic and business literature show that a decline in gross domestic product (GDP), an increase in income inequalities within and across economies, supply chain disruptions and product shortages, augmented job insecurity and financial stress as well as increased business failure risk are some of the myriad outcomes that are associated with this external shock (Bartik et al ., 2020; Barrero et al ., 2020; Blundell et al ., 2020; Junior et al ., 2021; Belitski et al ., 2022; Pereira and Patel, 2022). In this uncertain environment, business owners, innovators, entrepreneurs and investors were all called to adapt to the new challenging conditions (Welsh et al ., 2021) and to the (hostile or less hostile) strategies used by their government to control and limit the spread of the virus.…”

Analysis of Price Effect and Employment Effect of Government Tax Reduction

“…Clemens and Veuger(2020) argued how the Covid-19 pandemic affected American state governments' cash flow in the first few months, due to the reduction of income and the increase of expenditure demand, the pressure increased, and the severity of the Covid-19 crisis itself led to the decline of employment and consumption [1]. By comparing the possible impact of the epidemic on state government income with more typical economic contraction and providing health and macroeconomic data describing the impact of Covid-19 in the first few months, they found that Covid-19 led to the decline of personal health care Consumer spending on catering and accommodation fell significantly [1].In the first few months after the outbreak of the Covid-19, Jr et al(2020) found that the employment and sales income of SMEs in developing countries in Asia decreased significantly, the epidemic has a serious impact on employment and enterprise sustainability therefore SMEs in low-income economies are easy to use liquid assets and reduce employment to lessen those problems incurred from the epidemic [2]. In the face of cash shortage, many companies use online sales to increase their share, but there is a nonlinear relationship between online sales share and employment [2].…”