Economic policies in a pandemic

IF 0.3 Q4 ECONOMICS

Zhurnal Novaya Ekonomicheskaya Assotsiatsiya-Journal of the New Economic Association Pub Date : 2021-01-01 DOI:10.31737/2221-2264-2021-49-1-7

A. Kireyev, J. Ferrer

引用次数: 0

Abstract

What economic policy space does a country have to respond to a crisis provoked by the Covid-19 pandemic? To assess this space, the article calculates the nominal policy space index as a sum of each country’s fiscal space, monetary space, and reserve space. This nominal policy space is then adjusted for institutional features of individual countries to derive the effective policy space index. By way of illustration, the article applies the index to the Covid-19 crisis. It finds that at least 95 countries (about 11 percent of global GDP and 23 percent of population) have no or very limited policy space and may require emergency assistance.

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流行病中的经济政策

一个国家有什么样的经济政策空间来应对Covid-19大流行引发的危机?为了评估这一空间，本文将名义政策空间指数计算为各国财政空间、货币空间和储备空间的总和。然后根据各国的制度特征对名义政策空间进行调整，得出有效政策空间指数。通过举例说明，本文将该指数应用于2019冠状病毒病危机。报告发现，至少95个国家(约占全球国内生产总值的11%和人口的23%)没有或非常有限的政策空间，可能需要紧急援助。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Zhurnal Novaya Ekonomicheskaya Assotsiatsiya-Journal of the New Economic Association ECONOMICS-

CiteScore

1.00

自引率

20.00%

发文量

期刊介绍： Key Journal''s objectives: bring together economists of different schools of thought across the Russian Federation; strengthen ties between Academy institutes, educational establishments and economic research centers; improve the quality of Russian economic research and education; integrate economic science and education; speed up the integration of Russian economic science in the global mainstream of economic research. The Journal publishes both theoretical and empirical articles, devoted to all aspects of economic science, which are of interest for wide range of specialists. It welcomes high-quality interdisciplinary projects and economic studies employing methodologies from other sciences such as physics, psychology, political science, etc. Special attention is paid to analyses of processes occurring in the Russian economy. Decisions about publishing of articles are based on a double-blind review process. Exceptions are short notes in the section "Hot Topic", which is usually formed by special invitations and after considerations of the Editorial Board. The only criterion to publish is the quality of the work (original approach, significance and substance of findings, clear presentation style). No decision to publish or reject an article will be influenced by the author belonging to whatever public movement or putting forward ideas advocated by whatever political movement. The Journal comes out four times a year, each issue consisting of 12 to 15 press sheets. Now it is published only in Russian. The English translations of the Journal issues are posted on the Journal website as open access resources.