Economic Policy For A Pandemic Age

The global health and economic threats from the COVID-19 pandemic are not yet behind us. While the development of multiple safe and highly effective vaccines in less than a year is cause for hope, several significant dangers to recovery of global health and income are still clear and present: New concerning variants of SARS-CoV-2, the virus that causes COVID-19, continue to emerge at an alarming rate in different parts of the world; at the same time, vaccine rollouts have been shockingly inefficient even in some rich countries, while much of the developing world waits in line behind them for vaccines to arrive. The Briefing covers several policy areas in which cooperative forward-looking policy action will materially improve our chances of truly escaping today's pandemic and making future pandemics less costly.

A guide to the pandemic economy: essential reading about the long-term implications of our current crisis. The COVID-19 pandemic has unleashed a firehose of information (much of it wrong) and an avalanche of opinions (many of them ill-founded). Most of us are so distracted by the everyday awfulness that we don't see the broader issues in play. In this book, economist Joshua Gans steps back from the short-term chaos to take a clear and systematic look at how economic choices are being made in response to COVID-19. He shows that containing the virus and pausing the economy--without letting businesses fail and people lose their jobs--are the necessary first steps.Gans outlines the phases of the pandemic economy, from containment to reset to recovery and enhancement. Warning against thinking in terms of a "tradeoff" between public health and economic health, Gans explains that containment gives us the opportunity to develop effective testing that will make it safe for people to interact. Once the virus is contained, we will need to pivot toward innovating, and, finally, we will come together to plan how to protect ourselves from future pandemics. He looks at policy tools that might aid an economic recovery, distinguishing between economic losses during a pandemic and a recession. Gans lays out the economic choices accessibly but with urgency, leaving politics out of it. Economics in the Age of COVID-19 is essential reading for anyone interested in the long-term implications of our current crisis.--

Discussing the Spanish Flu, HIV/AIDs, SARS and Ebola against the background of Covid-19, Pandemic Economics demonstrates how scientists consistently warned the world about pandemics, and how, despite this, the possibility of global lockdown caused unprecedented economic policies and ruin. The book prepares for the next pandemic, that unquestionably will arrive, the impact of which is predicted to potentially exceed that of the current Covid-19 wreckage.

The COVID-19 pandemic posed a major threat to the well-being of older Europeans. Its economic and social effects, however, varied across countries. This multidisciplinary book presents the first results of analyses that combined the renowned longitudinal database of SHARE with new data from two telephone surveys that were uniquely conducted during the pandemic. The analyses address important policy-related issues, such as: Did social distancing destabilize family and social support networks? Did the pandemic increase health, social and economic inequality? Who had to forego essential health care because of the pandemic? Did lockdown affect one's physical and mental health? Did the shift towards remote work affect workload and well-being? Were different housing conditions related to the spread of the virus?

This two-volume book examines the most important global problem—the recovery of the social-economic crises due to the COVID-19 pandemic. This economic crisis has its own basis and differs from others by the lockdown of most businesses on the decision of authorities. The uncertainty of the future economic revival obliges scientists around the world to unite in search of effective solutions that will become the basis for prosperity and human wellbeing. The death of millions of people around the world, several waves of coronavirus, and a global pandemic have forced most states to seek extraordinary measures to save people and revive economic activity. The world economy experienced a global shock, probably never experienced before due to lockdowns. The disruptions and gaps in the value chains were primarily caused by the lockdowns of enterprises. The change in the essence of the economic crisis has raised the question of how to overcome it and revive economic activity. The crisis caused a sharp decline in incomes of the population around the world, which led to social upheavals. Post-COVID economic revival in a globalized world has become the most important problem of our time. This book offers contributions of authors from different countries and explores problem solving in the fields of public administration (Volume I, Part I), financial services (Volume I, Part II), different branches (Volume II, Part III) and the social sector (Volume II, Part IV). The second volume of the book is devoted problems in sectors of the economy, such as agriculture, tourism, aircraft, the automotive industry, electricity, culture, etc. The second part of the second volume examines trends in the revival in the social sector—medicine, pharmaceuticals, the labor market and social insurance. Despite the fact that the book is divided into two volumes and four parts, a holistic and systematic perception of the new reality of the post-COVID age can be obtained by reading the entire book. This book will be of interest to academics and practitioners in public administration and economics, particularly those who are interested in Post-COVID economic revival.

A guide to the pandemic economy: essential reading about the long-term implications of our current crisis. The COVID-19 pandemic has unleashed a firehose of information (much of it wrong) and an avalanche of opinions (many of them ill-founded). Most of us are so distracted by the everyday awfulness that we don't see the broader issues in play. In this book, economist Joshua Gans steps back from the short-term chaos to take a clear and systematic look at how economic choices are being made in response to COVID-19. He shows that containing the virus and pausing the economy—without letting businesses fail and people lose their jobs—are the necessary first steps.

This two-volume book examines the most important global problem—the recovery of the social-economic crises due to the COVID-19 pandemic. This economic crisis has its own basis and differs from others by the lockdown of most businesses on the decision of authorities. The uncertainty of the future economic revival obliges scientists around the world to unite in search of effective solutions that will become the basis for prosperity and human wellbeing. The death of millions of people around the world, several waves of coronavirus, and a global pandemic have forced most states to seek extraordinary measures to save people and revive economic activity. The world economy experienced a global shock, probably never experienced before due to lockdowns. The disruptions and gaps in the value chains were primarily caused by the lockdowns of enterprises. The change in the essence of the economic crisis has raised the question of how to overcome it and revive economic activity. The crisis caused a sharp decline in incomes of the population around the world, which led to social upheavals. Post-COVID economic revival in a globalized world has become the most important problem of our time. This book offers contributions of authors from different countries and explores problem solving in the fields of public administration (Volume I, Part I), financial services (Volume I, Part II), different branches (Volume II, Part III) and the social sector (Volume II, Part IV). The first volume discusses governmentality, public, and corporate management. The second part of the volume reveals the trends in the development of the financial sector in the post-COVID period. Despite the fact that the book is divided into two volumes and four parts, a holistic and systematic perception of the new reality of the post-COVID age can be obtained by reading the entire book. This book will be of interest to academics and practitioners in public administration and economics, particularly those who are interested in Post-COVID economic revival.

Meeting employee interests depending on the age and form of employment Abstract The aim of this chapter is the identification and assessment of meeting employee interests among the employed in standard and non-standard forms based on the age criterion. An empirical study was conducted using the CAWI technique covering a sample of 1,000 working Poles. Descriptive statistics methods and statistical tests were used to analyze the findings. The analysis of employee interests was performed by comparing the assessed interests by the representatives of four separate age groups. The statistically significant differences were examined. For this purpose, the non-parametric ANOVA Kruskal-Wallis test and the post-hoc test (statistical significance level * p<0.05, ** p<0.01) were used. The conducted analysis showed common strengths and weaknesses in meeting employee interests regarding the standard and non-standard forms. Providing employees with safe and hygienic working conditions was highly assessed, whereas employee participation was rated low. The specificity of Generation Z was evident, whose representatives (compared to older cohorts) frequently rated meeting employee interests higher. Filling the research gap related to the analysis of the authors’ presentation of employee interests regarding the age and form of employment in Poland. The results have practical usefulness for shaping employment, taking into account the above-mentioned variables. The research results covering a representative sample of working Poles fill the empirical data gap, extending beyond the scope of data available in statistical reporting (Statistics Poland, Eurostat). The empirical research used an original concept combining the issue of employee interests with the age and form of employment. Keywords: forms of employment, employee interests, age, cohort. Circular economy in the implementation of the investment and innovation policy of environmental management in post-war Ukraine Abstract The purpose of the study is to develop methodological support for a comprehensive assessment concerning dominants of the investment and innovation policy of nature management based on the circular economy. It also conducts an assessment of current trends and problems in post-war Ukraine. The basic methodological platform introduces the concept of sustainable development. The dominants of the investment and innovation policy of nature management are derivative and closely related to the objectives and indicators of sustainable development goals. To generalize and systematize the categorical apparatus and identify modern vectors of scientific research on this issue, a descriptive analysis was used - based on the sources of the Scopus scientometric database. The modern imperatives of the circular approach in the economy and the possibility of introducing the latest investment and innovation policy of nature management in post-war Ukraine are considered. The scientific novelty of the study lies in the development of methodological support for a comprehensive assessment and is based on: (1) a set of principles (systematicity and complexity, adequacy and dynamism, objectivity and accuracy, effectiveness, purposefulness, scientificity); (2) an expanded system of national indicators of sustainable development within the framework of Sustainable Development Goals 2, 6, 7, 8, 9, 12, 15, which integrates European, author's, economic and environmental indicators focused on an in-depth assessment of investment and natural resource potential in terms of species and structural-sectoral dimension, the relationship between the investment and environmental components of nature management; (3) a 7-stage procedure for quantitative, qualitative and expert assessment of the degree of implementation of the dominants of the investment and innovation policy of environmental management in the internal and external dimensions, the results of which form an analytical basis for adjusting the dominants, substantiating directions, ways and mechanisms for implementing the investment and innovation policy of the circular economy. The prospect of further research in this direction is the development of adaptive mechanisms to stimulate the introduction of eco-investments and innovations in the activities of business entities in various sectors of the economy. Keywords: circular economy, nature management, investment and innovation policy of nature management, sustainable development, Sustainable Development Goals, dominants of investment and innovation policy of nature management. The impact of economic activity zones on local development: The example of Wieliczka Municipality in Poland Abstract The purpose of this chapter is to present the impact of economic activity zones (EAZs) on local development and to identify good practices in the management of EAZs, based on the experience of the commune of Wieliczka, Poland. Nevertheless, beyond the theoretical insights, the empirical evidence of effective local development governance in EAZs is still limited, even in metropolitan areas where a range of instruments are provided to support local development. The chapter attempts to provide evidence of the impact of EAZ on local development by indicating the influence of investments located in economic activity zones on the management of local government units in the Krakow metropolitan area. The analysis of the impact of EAZs on local development has led to findings that a valuable tool for the impact of EAZs on local development are the investments located there, which determine the more effective use of local resources. These are challenging resources (including land and infrastructure) and soft, intangible ones (including location, quality of intellectual capital, and entrepreneurship of residents). As a result of the application of good practices in municipal management, they become key determinants that determine the potential of EAZ and increase competitiveness. The example of EAZs shows that their impact on local development can receive significant support from the EU and public authorities. Nevertheless, the development of EAZs is limited to metropolitan areas and tends to limit their development in peripheral areas far from major growth centers. Exploring further options for the impact of EAZ on local development may be an interesting direction to involve external stakeholders in order to enable the incorporation of their skills and resources. The experience of the municipality of Wieliczka is and will be, to a significant extent, a form of more effective use of a variety of local and external resources. The chapter briefly discusses the impact of EAZ on local development and provides practitioners with areas on the potential challenges of using EAZ. Local development carries certain risks, which have implications for EAZ creation efforts. Keywords: economic activity zones, EAZ, local development, municipal investment, entrepreneurship, innovation, EAZ management. A challenge for sustainable public management: Administrative performance measurement and public sector reform Abstract This chapter proposes a rational approach to administrative performance measurement. As Japan has entered an aged society with a low birthrate, administrative organizations in Japan are required to conduct performance-based public management under tight fiscal conditions. Aiming at efficient management with various schemes for administrative performance measurement based on the theory of New Public Management has been proposed. However, a tangible way of management has not been established due to authoritarianism or political shackles in organizations. In addition, such a performance measurement sometimes involves subjective factors in relation to outcome indices. Therefore, developing a practical evaluation scheme is not straightforward. By applying the Analytic Hierarchy Process, this chapter makes it possible to quantify subjective factors in the evaluation: the degree of contribution of each measure for the achievement of a policy. In order to verify the effectiveness of the application, a case study is performed in a local government in Japan. The proposed approach practically supports public service evaluation based on subjective judgment by executives of administrative organizations in addition to extant project appraisal. The results obtained from the case study show the practical effectiveness of the proposed approach. Based on the evaluation procedure, this chapter further considers a possible scheme of public sector reform in conjunction with a prospective way to transfer authority from an administrative organization to substitutable sectors. The implication of the scheme of reformation illustrates sustainable public management. Keywords: public management, sustainability, publicness, analytic hierarchy process, administrative performance measurement, public sector reform. Plan or die: Entrepreneurs' response to crisis situation Abstrac Thanks to the COVID-19 epidemic, the last two years have been filled with changes for entrepreneurs. As a result, the change leads to a new level, much higher than the previous one. It is a long-term strategy focused on debt levels, risk-advantage approaches, reinvestment in profits, and organizational changes. The purpose of this chapter is to present the results of the entrepreneurs’ response to the situation within and nearly after COVID-19 restrictions. Research findings are based on primary research in more than 300 companies in the Czech Republic (2 rounds of survey – 2020 and 2021). The comparison contrasts the change in strategic thinking due to long-term crisis. The results showed that measurable goals are extremely important during the crisis to maintain discipline in business (an increase of 91%). On the other hand, the exit strategy as a response to crisis is not the preferred solution (the lowest preference). Findings could be applied in managerial practice as a recommendation when research findings illustrate a possible combination of optimal business behavior within a crisis environment. Originality could be seen in the importance of ongoing profit investments and planning of individual activities in the company and the need for an active approach of the entrepreneur. Keywords: COVID-19, crisis behavior, changes in future goals, planning activities, entrepreneurs Hydraulic supplier selection: An Analytic Hierarchy Process approach Abstract In industrial environments, hydraulic systems work in continuous operation, for several applications that may demand control of large loads and high-power density. The inputs used in the maintenance of this type of equipment should follow the policies and procedures established by ISO standards, which may guarantee safety and operational reliability. The supplier selection for hydraulic components is a subject that involves several factors with complex decisions. Efficient and reliable suppliers can be decisive for the company's success. The aim of this study is to propose an evaluation framework for supplier selection of hydraulic equipment in the steel industry. The methods of multi-criteria decision analysis (MCDA) facilitate the decision-making, including the supplier selection strategies for hydraulic equipment. The Analytic Hierarchy Process (AHP) is the MCDA method applied to select suppliers by a Brazilian industrial plant. This chapter presents a case of supplier selection of hydraulic equipment, with four suppliers evaluated regarding five criteria and more than 20 sub-criteria, according to three experts. The AHP, the most widely used MCDA method, proved to be a reliable and useful MCDA method even in a case of more than nine criteria. In this case, Quality was the most important criterion, and Price was the less important. The main contribution of this study is to prove that a simple MCDA model, with the AHP application alone, may be enough to solve a practical decision problem, without increasing its complexity with hybridism. Keywords: Analytic Hierarchy Process, multi-criteria decision analysis, hydraulic systems, supplier selections. Strategic business planning technology for weakly-structured subject domains Abstract The purpose of this study is to create a technology and respective software tools for collegial (group) development of strategic plans for businesses in weakly structured domains. Strategic planning in such domains is an often challenging task, as quantitative (or even quantifiable) deterministic data is scarce or unavailable, uncertainty levels are high, and expert knowledge often represents the key information source (potentially, alongside open data). The technology is intended to overcome these challenges. It is based on group construction of a goal-oriented model of the system (subject domain), which is built through the decomposition of the main strategic goal and considers the terminal and resource properties of the system’s components, as well as mutual connections between them. The software toolkit allows knowledge engineers and their invited experts to remotely provide knowledge for building the system model. Then, based on the developed model, using the method of target-oriented dynamic estimation of alternatives and evolutionary methods of optimization, a set of measures (projects) is selected, complete with suggested funding allocated to them within the limited resource volume during the specific planning period. The selected set of measures guarantees the maximum level of achievement of the strategic goal within a given time perspective under limited funding and become the basis of the strategic plan. Methods of group knowledge acquisition and processing have been developed. They became the basis for the development of the original technology and software tools for strategic business planning. Theoretical foundations and methods for reliable obtaining of (thorough and undistorted) collective knowledge in a subject domain, ensuring their concordance and aggregation for further application in various areas, have been suggested. This research aims to solve a global problem of knowledge transfer from people with expertise (experience, intuition) in a certain field to people who need this knowledge to solve practical problems. This theoretical basis is intended for strategic planning practice in various areas, including business. An original way of automating the process of group subject domain model construction and the suggested application of existing and newly developed knowledge-oriented methods to strategic planning are proposed. All material presented in the chapter, is the result of ongoing original research led by the author. Keywords: strategic business-analysis, knowledge transfer, goal dynamic estimating of alternatives, rational distribution of resources, genetic algorithm, technology, subject domains