For developed market economies, the corona crisis is a new type of crisis, but this crisis has parallels to economies at other times, and to crises at other places. We discuss some mechanisms from the traditional macro literature, and from the literature on macroeconomics for developing...

Korea’s manufacturing sector, the third most competitive in the world, has helped it weather the COVID-19 pandemic.While the global economy shrank 3.3 percent in 2020, its worst slowdown since the 2008 global financial crisis, the Korean economy contracted by just one percent thanks to its...

This report discusses the economic impact of the Coronavirus/COVID-19 crisis across industries, and countries. It also provides estimates of the potential global economic costs of COVID-19, and the GDP growth of different countries. The current draft includes estimates for 30 countries, under...

This paper identifies and discusses the regional heterogeneity of the Brazilian great economic recession of 2014-16. Specifically, we outline a state-level chronology of the recession by applying the Bry-Boschan algorithm, using the states' monthly index of economic activity as reference...

Using the U.S. Current Population Survey data, this paper compares the distributional impacts of the Pandemic Crisis and those of the Global Financial Crisis in terms of (i) worker characteristics, (ii) job characteristics-'social' (where individuals interact to consume goods), 'teleworkable'...

This study evaluates anti-contagion and economic policies by conducting a survey on Japanese small business managers' expectations about the pandemic, policies, and firm performance. First, the business suspension request decreased targeted firms' sales by 10 percentage points on top of the...

The paper adopts a Global Value Chain (GVC) perspective to estimate the intensity of impact of COVID-19 across sectors for all Commonwealth countries. The intensity of the impact was driven by a combination of supply and demand shocks transmitted across different sectors of the economy. Some...

For about three decades, the Japanese economy suffered a prolonged phase of economic stagnation but may have started, in late 2019, to emerge from this state with the implementation of Abenomics in late 2012 or early 2013. Abenomics consisted of “three arrows”, namely aggressive monetary...

Greek economic crisis and its impact on regional development and policy In the past 3 decades the main financial support mechanism for the development of Greek Regions was the European Cohesion Policy and less national instruments as the Regional Investment Framework and public investments....