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What Are the Economic Effects of Pandemic Containment Policies? Evidence from Sweden

Author: Jana Bricco

Publisher:

Published: 2020-09-18

Total Pages: 30

ISBN-13: 9781513556109

This paper examines the economic effects of policies to contain Covid-19, by extracting lessons from Sweden's experience during the 'Great Lockdown'. Sweden's approach was less stringent and based more on social responsibility than legal obligations compared to European peers. First, we provide an account of Sweden's strategy and the health outcomes. Second, drawing on a range of data sources and empirical findings, our analysis of the first Covid-19 wave indicates that a less stringent strategy can soften the economic impact initially. These benefits could be eroded subsequently, due to potentially higher infection rates and a prolonged pandemic, but in Sweden's case, the evidence remains mixed in this regard, and it is premature to judge the outcome of Sweden's containment strategy. In addition, the economic effects of the containment strategy also depend on social behavior, demographics and structural features of the economy, such as the degree of export orientation, reliance on global supply chains, and malleability to remote working.

The Economic Effects of COVID-19 Containment Measures

Author: Pragyan Deb

Publisher:

Published: 2020-08-07

Total Pages: 44

ISBN-13: 9781513550251

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Containment measures are crucial to halt the spread of the 2019 COVID-19 pandemic but entail large short-term economic costs. This paper tries to quantify these effects using daily global data on real-time containment measures and indicators of economic activity such as Nitrogen Dioxide (NO2) emissions, flights, energy consumption, maritime trade, and mobility indices. Results suggest that containment measures have had, on average, a very large impact on economic activity--equivalent to a loss of about 15 percent in industrial production over a 30-day period following their implementation. Using novel data on fiscal and monetary policy measures used in response to the crisis, we find that these policy measures were effective in mitigating some of these economic costs. We also find that while workplace closures and stay-at-home orders are more effective in curbing infections, they are associated with the largest economic costs. Finally, while easing of containment measures has led to a pickup in economic activity, the effect has been lower (in absolute value) than that from the tightening of measures.

Quantitative Effects of COVID-19 Pandemic Containment Policies

Author: Beomsoo Kim

Publisher:

Published: 2022

Total Pages: 0

ISBN-13:

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The Swedish Experiment

Author: Yohann Aucante

Publisher: Policy Press

Published: 2022-06-29

Total Pages: 184

ISBN-13: 1529223881

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With Sweden traditionally hailed as a social and economic model, it is no wonder that the Swedish response to the COVID-19 pandemic raised a lot of questions – and eyebrows – around the world. This short book explores Sweden’s unique response to the global pandemic and the strong wave of controversies it triggered. It helps to make sense of the response by defining ‘a Swedish model’ that incorporates the country’s value system, underpinning its politics and administration in relation to, among other things, welfare, democracy, civil liberties and respect for expertise. The book also acts as a case study for understanding the moral and normative ways in which different national approaches to the pandemic have been compared.

The Oxford Handbook of Swedish Politics

Author: Jon Pierre

Publisher: Oxford University Press

Published: 2016

Total Pages: 737

ISBN-13: 0199665672

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The Handbook provides a broad introduction to Swedish politics, and how Sweden's political system and policies have evolved over the past few decades.

Output Losses in Europe During COVID-19: What Role for Policies?

Author: Mr. Anil Ari

Publisher: International Monetary Fund

Published: 2022-07

Total Pages: 40

ISBN-13:

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We use a decomposition methodology to analyze the factors underlying the differentiated output losses of European countries in 2020. Our findings are fourfold: First, 2020 growth outcomes can be explained by differences in mobility, underlying growth trends, and pre-pandemic country fundamentals. Second, fiscal and monetary policies helped alleviate output losses during the pandemic in all European countries but to a varying extent. Third, shallower recessions in emerging market economies in Europe can be attributed to higher underlying growth and younger populations. Fourth, fiscal multipliers were higher in countries where above-the-line measures accounted for a larger share of the total fiscal package, the size of the total fiscal package was smaller, and inequality and informality were greater, as well as in countries with IMF-supported program during the pandemic.

Governing the Embedded State

Author: Bengt Jacobsson

Publisher:

Published: 2015

Total Pages: 177

ISBN-13: 0199684162

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Governing the Embedded State integrates governance theory with organization theory and examines how states address social complexity and international embeddedness. Drawing upon extensive empirical research on the Swedish government system, this volume describes a strategy of governance based in a metagovernance model of steering by designing institutional structures. This strategy is supplemented by micro-steering of administrative structures within the path dependencies put in place through metagovernance. Both of these strategies of steering rely on subtle methods of providing political guidance to the public service where norms of loyalty to the government characterize the relationship between politicians and civil servants. By drawing upon this research, the volume will explain how recent developments such as globalization, Europeanization, the expansion of managerial ideas, and the fragmentation of states, have influenced the state's capacity to govern. The result is an account of contemporary governance which shows the societal constraints on government but also the significance of close interaction and cooperation between the political leadership and the senior civil servants in addressing those constraints.

Sweden

Author: International Monetary Fund. European Dept.

Publisher: International Monetary Fund

Published: 2021-03-25

Total Pages: 41

ISBN-13: 151357468X

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Sweden entered the pandemic with substantial buffers and suffered a relatively shallow recession in 2020. The decline in output was moderated by substantial income and liquidity support as well as structural features of the economy. Sweden’s initial less stringent containment strategy seems to have altered the timing of the economic fallout, which intensified towards the middle of the year. This fallout has particularly impacted the youth and foreign-born. Economic recovery is projected over the next two years, but uncertainty has increased due to the new strains of the virus and slow vaccination.

Comparative Governance

Author: B. Guy Peters

Publisher: Cambridge University Press

Published: 2016-09-07

Total Pages: 273

ISBN-13: 1316738175

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Decision-making is at the heart of governing and governance, and is a more challenging task compared to just a few decades ago as a result of increasing social complexity and globalization. In this book, B. Guy Peters and Jon Pierre propose a new framework for the comparative analysis of governance, arguing that government remains a central actor in governance. By articulating the functionalist dimension of governance they show how goal setting, resource mobilization, decision-making, implementation and feedback can be performed by a combination of different types of actors. Even so, effective governance requires a leading role for government. The framework is also applied to a taxonomy of governance arrangements and national styles of governing. Comparative Governance advances our knowledge about governance failure and how forms of governance may change. It also significantly strengthens the theory of governance, showing how governance can be studied conceptually as well as empirically.

Understanding the Creeping Crisis

Author: Arjen Boin

Publisher: Springer Nature

Published: 2021-05-10

Total Pages: 195

ISBN-13: 3030706923

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This open access book explores a special species of trouble afflicting modern societies: creeping crises. These crises evolve over time, reveal themselves in different ways, and resist comprehensive responses despite periodic public attention. As a result, these crises continue to creep in front of our eyes. This book begins by defining the concept of a creeping crisis, showing how existing literature fails to properly define and explore this phenomenon and outlining the challenges such crises pose to practitioners. Drawing on ongoing research, this book presents a diverse set of case studies on: antimicrobial resistance, climate change-induced migration, energy extraction, big data, Covid-19, migration, foreign fighters, and cyberattacks. Each chapter explores how creeping crises come into existence, why they can develop unimpeded, and the consequences they bring in terms of damage and legitimacy loss. The book provides a proof-of-concept to help launch the systematic study of creeping crises. Our analysis helps academics understand a new species of threat and practitioners recognize and prepare for creeping crises.