The Impacts of COVID-19 on Different Economic Entities in North America

Shan Zhong ()
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Shan Zhong: University of California

A chapter in Proceedings of the 8th International Conference on Financial Innovation and Economic Development (ICFIED 2023), 2023, pp 196-201 from Springer

Abstract: Abstract COVID-19 has had a significant impact on different economies. The rapid and dramatic impact of the pandemic and the economic shutdown caused by health prevention and control measures have plunged the world economy into a severe contraction. The virus spread would also increase global debt risks, raise housing and commodity prices and add to inflationary pressures. It would be the worst recession since the Second World War. The impact of COVID-19 will be different for different economic entities because different entities will have different but disparate responses to the coronavirus. For example, banks can adopt the monetary policy, but businesses cannot. Therefore, by summarizing economists’ research on the impact of COVID-19 on different economic entities, such as central banks, governments, companies, and individuals, and pointing out future research directions, countries may find ways to recover their economies faster.

Keywords: COVID-19; Central bank; Firm; Government; Monetary policy; Fiscal policy (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-142-5_22

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DOI: 10.2991/978-94-6463-142-5_22

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