Template-Type: ReDIF-Paper 1.0
Author-Name: Phurichai Rungcharoenkitkul
Author-X-Name-First: Phurichai
Author-X-Name-Last: Rungcharoenkitkul
Title: Macroeconomic effects of Covid-19: a mid-term review
Abstract: This article provides an interim assessment of the macroeconomic consequences of the Covid-19 pandemic. Estimates suggest a median output loss of about 8 percent in 2020, a gap that is expected to narrow to around 4 percent of the pre-pandemic trend by the end of 2021. There is however a high dispersion of economic losses across economies, reflecting varying exposures to the pandemic and societies' responses. High-frequency indicators and epidemiological models provide some insights into the interactions between the pandemic evolution and societies' strategies of combating it, including the role of vaccination. The article draws lessons from experiences thus far and discusses challenges ahead.
Length: 22 pages
Creation-Date: 2021-08
File-URL: https://www.bis.org/publ/work959.pdf
File-Format: Application/pdf
File-Function: Full PDF document
File-URL: https://www.bis.org/publ/work959.htm
File-Format: text/html
Number: 959
Keywords: Covid-19 pandemic, health-economic tradeoffs
Classification-JEL: E00, I18
Handle: RePEc:bis:biswps:959