UID:
edoccha_9961420948302883
Format:
1 online resource (522 pages)
Edition:
1st ed.
ISBN:
9780443152733
,
044315273X
,
0-443-15273-X
Content:
The Economic and Financial Impacts of the COVID-19 Crisis Around the World: Expect the Unexpected provides an informed, research-based in-depth understanding of the COVID-19 crisis, its impacts on households, nonfinancial firms, banks, and financial market participants, and the effectiveness of the reactions of governments and policymakers in the United States and around the world. It provides reflections and perspectives on the social costs and benefits of various policies undertaken and a toolkit of preventive measures to deal with crises beyond the COVID-19 crisis. Authors Allen N. Berger, Mustafa U. Karakaplan, and Raluca A. Roman apply their expertise to the research and data on the COVID-19 economic crisis as well as draw on their own rich research experience. They take a holistic approach that compares and contrasts this crisis with other economic and financial crises and assesses economic and financial behavior and government policies in the booms before crises and the aftermaths following them, as well as the crises themselves. They do all this with a keen eye on "Expecting the Unexpected? future crises, and policies that might anticipate them and provide better outcomes for society.
Note:
Intro -- The Economic and Financial Impacts of the COVID-19 Crisis Around the World: Expect the Unexpected -- Copyright -- Dedication -- Contents -- List of figures -- List of tables -- About the authors -- Foreword -- Preface -- Acknowledgments -- Part I: Focus of the book and other introductory materials -- Chapter 1: Introduction to the economic and financial impacts of the COVID-19 crisis and related topics -- 1.1. The focus of the book-Be prepared by expecting the unexpected-and other introductory materials -- 1.1.1. The story of the book told by the book cover artwork -- 1.1.2. The story of COVID-19 as told by colorful data maps and charts -- 1.2. Empirical evidence on economic and financial effects of the COVID-19 crisis around the world -- 1.3. Government policy reactions to the COVID-19 crisis and their economic and financial effects around the world -- 1.4. The extraordinary recoveries in real economies, banking sectors, and financial markets -- 1.5. Economic and financial effects during the aftermath of the COVID-19 crisis around the world -- 1.6. Lessons learned from the COVID-19 crisis -- Chapter 2: The COVID-19 pandemic vs past epidemics, pandemics, and other health crises -- 2.1. The effects of health crises on the populations of the world, their economies, banking sectors, and financial markets -- 2.2. The COVID-19 pandemic -- 2.3. Other health crises: Justinian Plague, Black Death, Spanish Flu, Yellow Fever, Acquired Immunodeficiency Syndrome (A ... -- 2.3.1. Justinian Plague -- 2.3.2. Black Death -- 2.3.3. Spanish Flu -- 2.3.4. Yellow Fever -- 2.3.5. AIDS -- 2.3.6. H1N1 -- 2.3.7. Ebola Virus -- 2.3.8. Opioid Epidemic -- 2.3.9. Studies of multiple health crises -- References -- Chapter 3: The COVID-19 pandemic as a ``black swan´´ event-Comparisons with natural disaster shocks.
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3.1. How natural disaster shocks differ from health shocks in terms of manifestation, temporal duration, geographic dispe ... -- 3.2. Natural disasters: Institutional details -- 3.3. Natural disasters and economies around the world -- 3.3.1. Real estate prices -- 3.3.2. Household finance -- 3.3.3. Corporate finance -- 3.3.4. Local and national economies -- 3.4. Natural disasters and banking sectors around the world -- 3.5. Natural disasters and financial markets around the world -- References -- Chapter 4: Conceptual framework for economic, banking, and financial market cycles featuring crises -- 4.1. Why economies, banking sectors, and financial markets are subject to significant cycles and crises -- 4.1.1. The boom -- 4.1.2. The crisis -- 4.1.3. The aftermath -- 4.2. Behaviors by households, nonfinancial firms, banks, and policymakers that exacerbate cycles and intensify crises -- 4.3. Types of policies to moderate cycles and lessen the likelihood and impacts of crises -- References -- Chapter 5: Putting the COVID-19 crisis into context-Comparison with earlier global crises -- 5.1. Similarities and differences among economic, banking, and financial market crises -- 5.2. The COVID-19 crisis (economic crisis) -- 5.3. The Global Financial Crisis (banking crisis) -- 5.4. The crash of 1929 (financial market crisis) -- References -- Part II: Empirical evidence on the economic and financial effects of the COVID-19 crisis around the world -- Chapter 6: Empirical evidence on the economic effects of the COVID-19 crisis on national and local economies -- 6.1. Effects of COVID-19 crisis on GDP and unemployment outcomes -- 6.2. Effects of COVID-19 crisis on employment on the national and local levels -- 6.3. Effects of COVID-19 crisis on industrial exposure and other economic vulnerabilities/supply chain -- References.
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Chapter 7: Empirical evidence on the economic effects of the COVID-19 crisis on households -- 7.1. Effects of COVID-19 crisis on consumer demand and spending -- 7.2. Effects of COVID-19 crisis on consumer health, mobility, income, and employment -- 7.3. Effects of COVID-19 crisis on consumer credit cards -- 7.4. Effects of COVID-19 crisis on consumer mortgages, auto loans, and student loans -- References -- Chapter 8: Empirical evidence on the economic effects of the COVID-19 crisis on nonfinancial firms -- 8.1. Effects of COVID-19 crisis on nonfinancial firm failures and performance -- 8.2. Effects of COVID-19 crisis on firm stockholders and other stakeholders -- 8.3. Effects of COVID-19 crisis on other nonfinancial firm outcomes -- References -- Chapter 9: Empirical evidence on the effects of the COVID-19 crisis on banks -- 9.1. Effects of the COVID-19 crisis on lending and relationships -- 9.2. Effects of the COVID-19 crisis on bank profitability -- 9.3. Effects of COVID-19 crisis on bank risk -- References -- Chapter 10: Empirical evidence on the economic effects of the COVID-19 crisis on financial markets -- 10.1. Effects of the COVID-19 crisis on the stock market -- 10.2. Effects of the COVID-19 crisis on the bond market -- 10.3. Effects of the COVID-19 crisis on the CDS market -- References -- Part III: Government policy reactions to the COVID-19 crisis and their economic and financial effects around the ... -- Chapter 11: Putting the COVID-19 crisis policies into context-The Paycheck Protection Program (PPP) vs the Troubled Asset ... -- 11.1. Comparisons of the programs -- 11.1.1. Key similarities between the two programs -- 11.1.2. Key differences between the two programs -- 11.1.3. Description of PPP -- 11.1.4. Description of TARP -- 11.2. Empirical evidence on the economic and financial effects of PPP -- 11.2.1. Effects on households.
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11.2.2. Effects on nonfinancial firms -- 11.2.3. Effects on banks -- 11.2.4. Effects on financial markets -- 11.2.5. Effects on local economies -- 11.3. Empirical evidence on the economic and financial effects of TARP -- 11.3.1. Effects on households -- 11.3.2. Effects on nonfinancial firms -- 11.3.3. Effects on banks -- 11.3.4. Effects on financial markets -- 11.3.5. Effects on local economies -- References -- Chapter 12: Other policy reactions to the COVID-19 crisis in the US and their effects on local economies, households, non ... -- 12.1. CARES Act provisions other than PPP -- 12.1.1. CARES Act forbearance programs and forbearance moratorium -- 12.1.2. CARES Act eviction moratoria -- 12.1.3. CARES Act restrictions on delinquency reporting to credit bureaus -- 12.1.4. CARES Act extended unemployment insurance (UI) -- 12.1.5. CARES Act stimulus checks -- 12.1.6. CARES Act additional small business support other than PPP -- 12.1.7. CARES Act large business support: Employee retention credit and financial aid for the airspace industry and natio ... -- 12.2. Federal Reserve actions -- 12.2.1. Main Street Lending Program (MSLP) and other credit and liquidity facilities for larger businesses -- 12.2.2. Conventional and unconventional monetary policy -- 12.3. Corporate bond and loan purchase programs -- References -- Chapter 13: Policy reactions to the COVID-19 crisis in the rest of the world and their effects on economies, households, ... -- 13.1. COVID-19 financial aid programs -- 13.2. COVID-19 forbearance programs and other related policies -- 13.3. COVID-19 conventional and unconventional monetary policies -- 13.4. COVID-19 credit and liquidity facilities -- 13.5. COVID-19 asset and security purchases -- 13.6. COVID-19 fiscal and labor market support policies -- References.
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Part IV: The extraordinary recoveries in real economies, banking sectors, and financial markets during the COVID- ... -- Chapter 14: Recovery evidence from the US -- 14.1. Real economy recovery in the US -- 14.2. Banking sector recovery in the US -- 14.3. Financial markets recovery in the US -- Chapter 15: Recovery evidence from the rest of the world -- 15.1. Real economy recovery in the rest of the world -- 15.2. Banking sector recovery in the rest of the world -- 15.3. Financial markets recovery in the rest of the world -- Part V: Empirical evidence on COVID-19 economic and financial effects during the aftermath around the world -- Chapter 16: Continuations vs scale backs of COVID-19 crisis policies in the crisis aftermath -- 16.1. When and how should crisis policies be continued vs scaled back in crisis aftermaths to avoid policy traps -- 16.2. Policy continuations vs scale backs during the COVID-19 aftermath in the US -- 16.3. Policy continuations vs scale backs during the COVID-19 aftermath in the rest of the world -- Chapter 17: Evidence on national and local economies during the COVID-19 crisis aftermath -- 17.1. Evidence of GDP and unemployment outcomes during the aftermath -- 17.2. Evidence on employment on the national and local levels during the aftermath -- 17.3. Evidence of exposure by industry and other economic vulnerabilities during the aftermath -- Chapter 18: Evidence on households during the COVID-19 crisis aftermath -- 18.1. Evidence on inflation and consumer spending during the aftermath -- 18.2. Evidence on consumer credit cards during the aftermath -- 18.3. Evidence on consumer mortgages, auto loans, and student loans during the aftermath -- Chapter 19: Evidence on nonfinancial firms during the COVID-19 crisis aftermath -- 19.1. Evidence on nonfinancial firm failures and performance during the aftermath.
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19.2. Evidence on nonfinancial firm stockholders and other stakeholders during the aftermath.
Additional Edition:
ISBN 9780443191626
Language:
English
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