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The Economy in the Time of Covid-19
[La Economía en los Tiempos del Covid-19]

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  • World Bank

Abstract

After a period of rapid economic growth associated with high commodity prices, the region had entered a phase of lackluster performance. Recent developments, including a new oil price shock, and the outbreak of the Covid-19 epidemic will push the region into recession. Many countries are struggling to contain the spread of the Covid-19 epidemic while avoiding a dramatic decline in economic activity. The report analyzes how to think about this tradeoff. It estimates the potential health costs, assesses the effectiveness of diverse containment strategies, and discusses how large the economic cost could be. The current crisis is unprecedented because it combines a fall in global demand, tighter financial conditions and a major supply shock. The response needs to consider how to socialize the losses, how to prevent a collapse of the financial sector, how to protect jobs and livelihoods, and how to manage and divest the assets that will inevitably end up in the hands of the state.

Suggested Citation

  • World Bank, "undated". "The Economy in the Time of Covid-19 [La Economía en los Tiempos del Covid-19]," World Bank Publications - Reports 33555, The World Bank Group.
    • Handle: RePEc:wbk:wboper:33555
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    References listed on IDEAS

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    1. Glover, Andrew & Heathcote, Jonathan & Krueger, Dirk & Ríos-Rull, José-Víctor, 2023. "Health versus wealth: On the distributional effects of controlling a pandemic," Journal of Monetary Economics, Elsevier, vol. 140(C), pages 34-59.
    2. J. Vernon Henderson & Adam Storeygard & David N. Weil, 2012. "Measuring Economic Growth from Outer Space," American Economic Review, American Economic Association, vol. 102(2), pages 994-1028, April.
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    1. repec:ers:journl:v:xxiv:y:2021:i:special3:p:561-570 is not listed on IDEAS
    2. Arielle Kaim & Tuvia Gering & Amiram Moshaiov & Bruria Adini, 2021. "Deciphering the COVID-19 Health Economic Dilemma (HED): A Scoping Review," IJERPH, MDPI, vol. 18(18), pages 1-13, September.
    3. Morales López, Rodrigo Alfonso & Moreno Brid, Juan Carlos, 2020. "Central America and the pandemic: macroeconomic policy challenges," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), December.
    4. World Bank, 2020. "COVID 19 in Brazil," World Bank Publications - Reports 34223, The World Bank Group.
    5. Brum, Matias & De Rosa, Mauricio, 2021. "Too little but not too late: nowcasting poverty and cash transfers’ incidence during COVID-19’s crisis," World Development, Elsevier, vol. 140(C).
    6. Halil Kete & Fatih Karasaç, 2022. "Evaluation of the Economic Performances of the European Union Countries and Turkey in the Covid-19 Process with the COPRAS Method," Journal of Economic Policy Researches, Istanbul University, Faculty of Economics, vol. 9(2), pages 373-395, July.
    7. Matías Brum & Mauricio de Rosa, 2020. "Too little but not too late. Nowcasting poverty and cash transfers' incidence in Uruguay during COVID-19's crisis," Documentos de Trabajo (working papers) 20-09, Instituto de Economía - IECON.
    8. Jeisson Cárdenas & Jaime Montana & Derek Bosworth, 2021. "Which Workers are Most Exposed to covid -19 and Social Distancing Effects in a Dual Labour Market?," Revista de Economía del Rosario, Universidad del Rosario, vol. 24(2), December.
    9. Kuzmanic, Danilo & Valenzuela, Juan Pablo & Claro, Susana & Canales, Andrea & Cerda, Daniela & Undurraga, Eduardo A., 2023. "Socioeconomic disparities in the reopening of schools during the pandemic in Chile," International Journal of Educational Development, Elsevier, vol. 100(C).
    10. Paul Malliet & Frédéric Reynès & Gissela Landa & Meriem Hamdi-Cherif & Aurélien Saussay, 2020. "Assessing Short-Term and Long-Term Economic and Environmental Effects of the COVID-19 Crisis in France," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 76(4), pages 867-883, August.
    11. Cecilia Peluffo & Mariana Viollaz, 2021. "Intra-household exposure to labor market risk in the time of Covid-19: lessons from Mexico," Review of Economics of the Household, Springer, vol. 19(2), pages 327-351, June.
    12. Anirudh Shingal & Prachi Agarwal, 2020. "How did trade in GVC-based products respond to previous health shocks? Lessons for COVID-19," RSCAS Working Papers 2020/68, European University Institute.
    13. Sylwia Krzysztofowicz & Katarzyna Osińska-Skotak, 2021. "The Use of GIS Technology to Optimize COVID-19 Vaccine Distribution: A Case Study of the City of Warsaw, Poland," IJERPH, MDPI, vol. 18(11), pages 1-22, May.

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