ABSTRACT
Global supply shock suffered massive disruption because of COVID-19 in the last few years. Such a shock is accompanied by an energy price surge caused by the war in Ukraine. We study the effects of energy price shocks (common, idiosyncratic) on inflation due to energy price issues. We set up a panel structural VAR (PSVAR) model to study whether energy price shocks exhibit long memory properties (persistence) having permanent (long-run) effects on global inflation. The model is modelled under Cholesky and Blanchard-Quah restrictions. We calculate medians, averages, and interquartile impulse response functions with confidence interval quantiles following bootstrapping procedure. We see energy shock impact on headline inflation last 2.5 years (slow mean-reversion) reaching pre-crisis level. © 2022 by the authors.
ABSTRACT
Government policy responses play a significant role in increasing the resilience of small and medium-sized tourism enterprises during crisis periods. Proper selection and implementation of these policies is one of the major challenges facing tourism policy makers. The aim of this article is to propose a systematic framework for selecting government supportive policies that contribute effectively to resilience improvements of tourism SMEs during the COVID-19 disaster. After reading the international reports of the COVID-19 disaster carefully and using similar research findings in past disasters as the preliminary stage of framework development, a comprehensive list of country-based recovery policy responses as well as the critical success factors (CSFs) of tourism SMEs in the crisis recovery phase was extracted and then finalized in an expert-oriented process. In the next stage, the Z-SWARA was applied to weigh the CSFs. Then, four Z-MADM methods were implemented to rank the alternatives, and finally, the results were compounded with BORDA technique. The results of implementing the proposed framework in Iran's tourism industry show that Disaster management planning capability, as well as Marketing management are the most important CSFs. Also, financial support including direct lending and grants and subsidies to SMEs have been identified as the most effective governments' supportive policies to recover tourism SMEs in the post-disaster phase. Generally, these results have valuable implications for different stakeholders such as policymakers, practitioners and researchers in the tourism industry.
ABSTRACT
Social exclusion as a process leads to a state of multiple relative deprivations in diverse areas of social life, like employment, education, healthcare, social ties, respect. Individuals or groups may have a worse position in several areas, particularly with other individuals or groups in society. Coronavirus pandemics disproportionately affect poorer communities and socially excluded people. Socially excluded are double victims;due to their position, they are more prone to infection by a coronavirus, further increasing their exclusion. The purpose of this contribution is to provide a conceptual framework for analyzing the relationship between social exclusion and health disparities during the COVID-19 pandemic. The goal is to comprehend the causes and consequences of unequal power relationships and offer critical assessments of current policies and measures to reduce health inequalities. Health and social inequalities are a significant constraint to economic revival and a successful fight against pandemics. The extent of the economic and health crisis caused by pandemic shock largely depends on past health and social inequality. © 2021 The Author(s). Published by Vilnius Gediminas Technical University.
ABSTRACT
Research background: The outbreak and spread of COVID-19 brought disastrous influences to the development of human society, especially the development of economy. Purpose of the article: Considering that knowing about the situations of the existing studies about COVID-19 and economy is not only helpful to understand the research progress and the connections between COVID-19 and economy, but also provides effective suggestions for fighting against COVID-19 and protecting economy, this paper analyzes the existing studies on COVID-19 and economy from the perspective of bibliometrics. Methods: Firstly, the discussion starts from the statistical analysis, in which the basic distributions of the studies on different countries/regions, different publication sources, different publication years, etc., are presented. Then, the paper shows the cooperation situations of the researchers from analyzing the related citation networks, co-citation networks and cooperation networks. Further, the theme analysis of the related studies is presented, in which the related co-occurrence networks are shown, and then the detailed analyses of the studies are introduced. Based on these analyses, the discussions about future research are presented, and finally we draw a conclusion. Findings & value added: The analyses not only present the basic situation on the research about COVID-19 and Economy, but also show the future research trends, which can provide meaningful research expectations. © 2021 Nicolaus Copernicus University.
ABSTRACT
Research background: The situation with the spread of the coronavirus is very serious and could even get worse. This negatively impacts the population as well as the economy on the global and national level. Aim of the article: The aim of the article is to explain the complexities regarding the evaluation of COVID-19 impact on health and economy as well as to analyse some realised measures. Despite great technological progress and expansion, the science of epidemiology, responses to epidemics of the twenty-first century demonstrate that the world is not adequately prepared to lessen the impact of an emerging threat or prevent its appearance leaving mankind vulnerable to adverse consequences. Methods: The impact of pandemics is so vast and uncommon as it affects all elements of demand and supply. To study the pandemic impact in Croatia we use Hamilton (2018), Stock and Watson (1999) one-sided HP filter. Findings & Value added: The most vulnerable sectors are all forms of transport, travel and hospitality, as well as all forms of entertainment. Usual economic measures, like tax cuts and stimulus spending, will not restore cancelled events, revive ruined supply chains or encourage suspicious consumers to go spending. Needed measures incorporate coordinated multilateral actions to ensure effective health policies, containment and mitigation activities, support low-income citizens, and jointly raise fiscal spending. Mentioned measures would be the most effective means of restoring confidence and supporting incomes.