Analyzing inequalities: a multifaceted perspective of OECD welfare regimes during the Great Recession and the Pandemic

Fariborz Aref ()
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Fariborz Aref: University of Oklahoma

International Review of Economics, 2024, vol. 71, issue 2, No 12, 420 pages

Abstract: Abstract This study evaluates the impact of the Great Recession and the COVID-19 pandemic on income, labor, and health disparities within OECD welfare regimes. The findings reveal a significant increase in income inequality within the Liberal model (LM) during the pandemic. Employment rates decreased in the LM and Corporatist models (CM), while remaining stable in the Mediterranean (MM) and Post-communist models (PM). The pandemic intensified these trends, underscoring the pivotal role of GDP in shaping employment trajectories. Unemployment rates escalated in both the CM and PM. Across all welfare regimes, health disparities, including life expectancy, deteriorated during the pandemic; the PM saw notable declines, and the LM experienced a considerable reduction. Additionally, infant mortality rates rose across all models. The study identifies GDP as a critical factor influencing both health and economic outcomes. These findings highlight the need for policy updates in various welfare regimes to address global challenges and evolving social dynamics. The study also underscores the necessity of adjusting welfare regime classifications to stay relevant amidst continual global transformations, maintaining their efficacy in a rapidly evolving global context.

Keywords: Pandemic; GDP; Welfare regimes; Generalized estimating equations (search for similar items in EconPapers)
JEL-codes: P16 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s12232-024-00448-9

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