To help understand the wider impacts of this global crisis, our researchers have been offering their expert opinion on how COVID-19 could affect a wide range of sectors. They are also exploring new areas of research that could be crucial in helping society prepare for what lies ahead.
Reducing the international economic fallout of COVID-19 public health policies
What is the issue?
Governments worldwide have taken drastic measures to protect populations from the spread of COVID-19, the scale and severity of which is unprecedented in recent history and will likely have substantial and profound economic consequences. To safeguard their national economies, governments have promised economic rescue packages worth billions of dollars.
Isolation at home and other recommendations have sought to protect populations from COVID-19, but some policies have had a high economic cost and could also put lives and health at risk. Researchers are reviewing what is known about the impact of different measures taken.
How are we helping?
The study will assess existing evidence as the pandemic evolves and review what is known about the impact of different measures taken.
Using the evidence and data collected, researchers will model the economic consequences of the measures used to combat COVID-19. They will use a multi-country macroeconomic model to compare the economic impact of COVID-19 under different scenarios and how they affect factors such as GDP, employment, and inequality over the next five to ten years. This analysis will enable us to test the extent to which a variety of economic policies, such as cash transfers, wage subsidies, tax reliefs, and others, could help mitigate the economic fallout of the pandemic.