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General Equilibrium Analyses of COVID-19 Impacts and Policies: An Historical Perspective

In: The Economics of COVID-19

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  • Roberto Roson
  • Camille Van der Vorst

Abstract

This survey presents the recent and rapidly expanding literature, which analyses the economic impacts of the COVID-19 pandemic, by means of Computable General Equilibrium (CGE) modelling. It does so not only by contrasting and assessing the different methodological approaches, and the key findings of the simulation exercises, but also by putting the various contributions in a historical perspective. This is necessary because each CGE-based study should be evaluated while keeping in mind when it was realised, since questions, priorities, expectations have been constantly changing during the spreading of the pandemic.

Suggested Citation

  • Roberto Roson & Camille Van der Vorst, 2022. "General Equilibrium Analyses of COVID-19 Impacts and Policies: An Historical Perspective," Contributions to Economic Analysis, in: The Economics of COVID-19, volume 127, pages 57-70, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:ceazzz:s0573-855520220000296005
    DOI: 10.1108/S0573-855520220000296005
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    1. Roberto Roson & Camille Van der Vorst, 2021. "The COVID crumbling of tourism in Andalusia: an assessment of economic and environmental consequences," Working Papers 2021: 18, Department of Economics, University of Venice "Ca' Foscari".
    2. Victor Nechifor & Emanuele Ferrari & Evelyne Kihiu & Joshua Laichena & Daniel Omanyo & Rogers Musamali & Benson Kiriga, 2020. "COVID-19 impacts and short-term economic recovery in Kenya," JRC Research Reports JRC121284, Joint Research Centre.
    3. Margaret Chitiga‐Mabugu & Martin Henseler & Ramos Mabugu & Hélène Maisonnave, 2021. "Economic and Distributional Impact of COVID‐19: Evidence from Macro‐Micro Modelling of the South African Economy," South African Journal of Economics, Economic Society of South Africa, vol. 89(1), pages 82-94, March.
    4. Dixon Peter B & Lee Bumsoo & Muehlenbeck Todd & Rimmer Maureen T. & Rose Adam & Verikios George, 2010. "Effects on the U.S. of an H1N1 Epidemic: Analysis with a Quarterly CGE Model," Journal of Homeland Security and Emergency Management, De Gruyter, vol. 7(1), pages 1-19, December.
    5. Channing Arndt & Jeffrey D. Lewis, 2001. "The HIV|AIDS pandemic in South Africa: sectoral impacts and unemployment," Journal of International Development, John Wiley & Sons, Ltd., vol. 13(4), pages 427-449.
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    7. Victor Nechifor & Ole Boysen & Emanuele Ferrari & Kidanemariam Hailu & Mohammed Beshir, 2020. "COVID-19: socioeconomic impacts and recovery in Ethiopia," JRC Research Reports JRC122405, Joint Research Centre.
    8. van Seventer, Dirk & Arndt, Channing & Davies, Robert J. & Gabriel, Sherwin & Harris, Laurence & Robinson, Sherman, 2021. "Recovering from COVID-19: Economic scenarios for South Africa," IFPRI discussion papers 2033, International Food Policy Research Institute (IFPRI).
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    10. Alexandre A. Porsse & Kênia B. de Souza & Terciane S. Carvalho & Vinícius A. Vale, 2020. "The economic impacts of COVID‐19 in Brazil based on an interregional CGE approach," Regional Science Policy & Practice, Wiley Blackwell, vol. 12(6), pages 1105-1121, December.
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    12. Christine Arriola & Sophie Guilloux-Nefussi & Seung-Hee Koh & Przemyslaw Kowalski & Elena Rusticelli & Frank van Tongeren, 2020. "Efficiency and risks in global value chains in the context of COVID-19," OECD Economics Department Working Papers 1637, OECD Publishing.
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    More about this item

    Keywords

    CGE models; COVID-19; economic impact; environmental impact; supply-side shocks; demand-side shocks; C68; D58; Q51; F62; I10;
    All these keywords.

    JEL classification:

    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts
    • I10 - Health, Education, and Welfare - - Health - - - General

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