Who Bore the Brunt of the Pandemic in Europe? Shifting Private Stress to the Public Sector
Discusses how unprecedented policy support transferred private sector income losses to the public sector’s balance sheet and contrasts this experience to that of the global financial crisis.
READ MORE...
Volume/Issue:
Volume 2021
Issue 015
Publication date: July 2021
ISBN: 9781513577494
$20.00
Add to Cart by clicking price of the language and format you'd like to purchase
Available Languages and Formats
| English |
Topics covered in this book
This title contains information about the following subjects.
Click on a subject if you would like to see other titles with the same subjects.
Economics- Macroeconomics , International - Economics , Public Policy , Consumption , Saving , Wealth , Business Fluctuations , NFC balance sheet stress , NFC leverage , household balance sheet stress , private sector stress , stress to the public sector , Financial statements , COVID-19 , Public sector , Asset valuation , Global financial crisis of 2008-2009 , Europe , Global
Summary
In Europe, the severe human toll of the COVID-19 pandemic was compounded by the deepest fall in economic activity in modern history. Yet this huge decline in output did surprisingly little damage to the aggregate financial balance sheets of firms and households. This paper discusses how unprecedented policy support transferred private sector income losses to the public sector’s balance sheet and contrasts this experience to that of the global financial crisis.
