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General equilibrium analyses of Covid-19 impacts and policies: an historical perspective

Author

Listed:
  • Roberto Roson

    (Department of Economics, Ca' Foscari University of Venice; Loyola Andalusia University; GREEN Bocconi University Milan)

  • Camille Van der Vorst

    (Leuven Centre for Global Governance Studies, KU Leuven)

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 realized, since questions, priorities, expectations have been constantly changing during the spreading of the pandemic.

Suggested Citation

  • Roberto Roson & Camille Van der Vorst, 2021. "General equilibrium analyses of Covid-19 impacts and policies: an historical perspective," Working Papers 2021:25, Department of Economics, University of Venice "Ca' Foscari".
    • Handle: RePEc:ven:wpaper:2021:25
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    References listed on IDEAS

    as
    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. Laëtitia, Leroy de Morel & Glen, Wittwer & Christina, Leung & Dion, Gämperle, 2020. "The potential local and regional impacts of COVID-19 in New Zealand: with a focus on tourism," NZIER Working Paper 2020/3, New Zealand Institute of Economic Research.
    3. 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.
    4. 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.
    5. 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.
    6. Russell Hillberry & David Hummels, 2021. "Tom Hertel’s Influence and Its Lessons about Academic Inquiry," World Scientific Book Chapters, in: Peter Dixon & Joseph Francois & Dominique van der Mensbrugghe (ed.), POLICY ANALYSIS AND MODELING OF THE GLOBAL ECONOMY A Festschrift Celebrating Thomas Hertel, chapter 2, pages 9-39, World Scientific Publishing Co. Pte. Ltd..
    7. Robinson, Sherman & Levy, Stephanie & Hernández, Victor & Davies, Rob & Gabriel, Sherwin & Arndt, Channing & van Seventer, Dirk Ernst & Pleitez, Marcelo, 2021. "Covid-19 and lockdown policies: A structural simulation model of a bottom-up recession in four countries," IFPRI discussion papers 2015, International Food Policy Research Institute (IFPRI).
    8. 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.
    9. 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.
    10. van Seventer, Dirk Ernst & Arndt, Channing & Davies, Rob & 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).
    11. 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.
    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;
    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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