Naslov
Measuring institutional response and convergence in the time of COVID-19: unified vs heterogeneous policy response

Autori
Škare, Marinko ; Porada Rochon, Malgorzata ; Blažević Burić, Sanja

Vrsta, podvrsta i kategorija rada
Poglavlja u knjigama, znanstveni

Knjiga
Stabilnost, institucionalni rast i perspektive razvoja hrvatskog financijskog sustava u uvjetima pandemije Covid-19 znanstvena monografija = Stability, institutional growth and perspectives of the development of the Croatian financial system in the conditions of the Covid 19 pandemic

Urednik/ci
Olgić Draženović, Bojana ; Buterin, Vesna ; Suljić Nikolaj, Stella

Izdavač
Ekonomski fakultet Sveučilišta u Rijeci

Grad
Rijeka

Godina
2022

Raspon stranica
1-21

ISBN
978-953-7813-69-7

Ključne riječi
institutions and institutional response ; OECD ; panel multinomial logit ; COVID-19 pandemic ; business cycles

Sažetak
The COVID-19 pandemic crisis has put enormous pressure on all economic agents, particularly fiscal/monetary authorities and institutions across countries. The purpose of this study is to measure and assert the role of institutional response in fighting the pandemic and avoiding business cycles. Setting up optimal government response to the pandemic requires empirical knowledge on the links between distinct government responses: health and economic policy. The former is designed to address the security of and protection for the population and the latter to prevent global economic fallout. We use data from January 2020 to September 2021 for 47 OECD countries on government response, lockdown and stringency policies, income support, and debt relief response. Data are analysed using panel multinomial logit modelling to predict the chances of avoiding pandemic business cycles resulting from the institutional response. Our study provides empirical knowledge to policymakers and practitioners, enabling them to set up an optimal policy framework in fighting the pandemic. Governments’ optimal response to COVID-19 significantly affects institutional response, which is essential not only during the pandemic but also afterwards.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

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