Macro Economic Model of COVID-19 Pandemic Crisis

Vladimir Čavrak ()
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Vladimir Čavrak: University of Zagreb

Chapter Chapter 4 in Macroeconomic Responses to the COVID-19 Pandemic, 2021, pp 85-108 from Springer

Abstract: Abstract The economic crisis triggered by the COVID-19 virus is unique in economic history in its mode and rate of occurrence, global coverage, and consequences. The text reveals the mechanisms of the impact of health shock on the economy and the macroeconomic framework of mitigating and exiting the crisis. It uses the AS-AD macroeconomic model with vertical axis inflation for analysis. Empirical facts illustrate the case of the Republic of Croatia.

Keywords: Macroeconomic policy; Aggregate demand; Aggregate supply; Expectations; AS-AD model; Economic crisis (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-75444-0_4

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DOI: 10.1007/978-3-030-75444-0_4

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