Economic measures to counteract the impact of covid-19 in Spain
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Title
Economic measures to counteract the impact of covid-19 in SpainAuthor (s)
Tutor/Supervisor; University.Department
Russo, AlbertoDate
2022-07-07Publisher
Universitat Jaume IAbstract
Approximately two years ago, the coronavirus pandemic brought the world economy
to its knees as it left the world economy in a situation never seen before. The impact
of the pandemic has been disastrous and although ... [+]
Approximately two years ago, the coronavirus pandemic brought the world economy
to its knees as it left the world economy in a situation never seen before. The impact
of the pandemic has been disastrous and although it was foreseen as a temporary
effect, it has had the potential to cause long-term damage. In reference to our country,
given certain characteristics in relation to companies, i.e., we are characterized by
small and medium-sized enterprises (PYMES), family businesses, high seasonality
among them, Spanish companies havebeen more vulnerable than in other neighboring
countries.
Because of this situation, immediate policies were demanded not only in Spain, but
also with financial assistance from Europe. The economic policies that were activated
in Spain were limited in time, such as the ERTES, aid to the self-employed who could
not carry out their activity and continued to pay monthly instalments, the creation of
the minimum living income for the most disadvantaged families, these aids were
limited in time until economic activity and employment recovered. The main objective
of this aid was mainly to try to minimize the loss of income of households and
companies affected by this unprecedented crisis and also tominimize the impact on
the loss of the Spanish business fabric.
It should also be noted that the pandemic has had a very unequal impact on the
different sectors, causing in many of them an irrecoverable loss of jobs associated
with relatively low incomes. The economic activities that have been hardest hit since
the outbreak of the coronavirus pandemic have been those that have provided most
employment before the pandemic, such as the hotel and catering industry, which is
so important in our country due tothe great influence of tourism, and small businesses
have also been greatly affected.
In relation to the policies employed, which we will discuss in more depth later, we
highlight themost appropriate policy for these times, fiscal policy, while monetary policy
must also be used to ensure financing and liquidity for economic agents. This entails
a coordinated response among the many European countries in which a joint response
is required through a mechanism for distributing financial resources, taking into
account the country's characteristics and needs. [-]
Subject
Description
Treball Final de Grau en Economia. Codi: EC1049. Curs acadèmic: 2021/2022
Type
info:eu-repo/semantics/bachelorThesisRights
info:eu-repo/semantics/openAccess
This item appears in the folowing collection(s)
- Grau en Economia [289]