The macroeconomic effects of COVID-19 in Spain: A comparative analysis
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Título
The macroeconomic effects of COVID-19 in Spain: A comparative analysisAutoría
Tutor/Supervisor; Universidad.Departamento
Russo, Alberto; Universitat Jaume I. Departament d'EconomiaFecha de publicación
2021-06-15Editor
Universitat Jaume IResumen
The coronavirus pandemic has left our economy in an unprecedented situation. The impact
has been massive and global, and although it is expected to be temporary, it could cause
structural damage. Some characteristics ... [+]
The coronavirus pandemic has left our economy in an unprecedented situation. The impact
has been massive and global, and although it is expected to be temporary, it could cause
structural damage. Some characteristics of our economy, such as the sectoral specialisation of
our productive system, the small average size of firms and the high degree of seasonality,
make it more vulnerable than other countries.
Such a situation initially requires immediate and decisive economic policies. These policies
must be limited in time, until employment and economic activity regain momentum after the
imposed closure, and coordinated at the international level. The aim is to mitigate the loss of
income of households and firms affected by the crisis and to prevent the temporary shock
from having lasting effects over time. Fiscal policy is the most appropriate tool for this
purpose. Monetary policy must also be active to ensure adequate financing and liquidity
conditions for economic agents. Policies should encourage financial institutions to continue to
ensure that credit reaches households and firms, thereby maintaining the financial stability of
the system. Social policies must also be implemented to help the sectors most affected by the
crisis.
As the crisis is global, a coordinated response is also needed at the international level. At the
European level, a common response is needed, supported by a risk and financial resource
sharing mechanism and a global banking union.
Once the tipping point of this crisis is passed, economic policies should reduce structural
deficits and public debt and promote long-term growth. [-]
Palabras clave / Materias
Descripción
Treball Final de Grau en Economia. Codi: EC1049. Curs acadèmic: 2020/2021
Tipo de documento
info:eu-repo/semantics/bachelorThesisDerechos de acceso
info:eu-repo/semantics/openAccess
Aparece en las colecciones
- Grau en Economia [289]