The spread of COVID-19 in stock returns along global value chains

This paper examines the performance of industries in the trade network in international stock markets during the onset of COVID-19. In general, the value of all industries in G20 countries declines significantly in the pandemic. Stock returns of industries in the central positions of global value chains exhibit remarkable resilience despite the economic hardship caused by COVID-19. This pattern is more pronounced when the disruptions caused by social distancing requirements are considered. We postulate that this is related to the essential services provided by the central industries.

The economic impact of the COVID-19 pandemic on ethnic minorities in Manchester: lessons from the early stage of the pandemic.

This review summarizes the economic impacts of the pandemic on ethnic minorities, focusing on the city of Manchester. It utilizes multiple reporting sources to explore various dimensions of the economic shock in the UK, linking this to studies of pre-COVID-19 economic and ethnic composition in Manchester and in the combined authority area of Greater Manchester. We then make inferences about the pandemic's short-term impact specific to the city region. Greater Manchester has seen some of the highest rates of COVID-19 and as a result faced particularly stringent "lockdown" regulations. Manchester is the sixth most deprived Local Authority in England, according to 2019 English Indices of Multiple Deprivation. As a consequence, many neighborhoods in the city were always going to be less resilient to the economic shock caused by the pandemic compared with other, less-deprived, areas. Particular challenges for Manchester include the high rates of poor health, low-paid work, low qualifications, poor housing conditions and overcrowding. Ethnic minority groups also faced disparities long before the onset of the pandemic. Within the UK, ethnic minorities were found to be most disadvantaged in terms of employment and housing-particularly in large urban areas containing traditional settlement areas for ethnic minorities. Further, all Black, Asian, and Minority ethnic (BAME) groups in Greater Manchester were less likely to be employed pre-pandemic compared with White people. For example, people of Pakistani and Bangladeshi ethnic backgrounds, especially women, have the lowest levels of employment in Greater Manchester. Finally, unprecedented cuts to public spending as a result of austerity have also disproportionately affected women of an ethnic minority background alongside disabled people, the young and those with no or low-level qualifications. This environment has created and sustained a multiplicative disadvantage for Manchester's ethnic minority residents through the course of the COVID-19 pandemic.

Impact of negative emotions on financial behavior: An assessment through general strain theory

Research background: The research has two objectives and employs a serial mediation approach. First, using the general strain theory, it examines the mediating role of negative feelings and impact of economic adversity on people's risk tolerance and prudent financial behavior. The second is determining the various categories' variations according to age. Purpose of the article: The study's main objective is to evaluate financial behaviour of people with lower and medium incomes after the second wave of COVID-19 in India, and to contribute to the body of knowledge on general strain theory. Methods: The study examined the proposed framework and tested the serial mediation model based on the general strain theory used as a survey method for data collection, targeting lower and middle-income individuals in India's most populated state. The study applied PLS-SEM to test the framed hypotheses. Furthermore, the Kruskal Wallis test was applied to identify the difference in the various groups classified based on age. Findings & value added: The results reveal that economic hardship significantly influences improved financial behavior. Risk aversion attitude, loneliness, and depression mediate the relationship between economic hardship and financial behavior. Moreover, the study found quite a few significant differences between the different age groups. The present study will add to the existing literature on financial behavior under the scope of general strain theory and probably be among the few that test general strain theory with financial variables impact on lower and middle-income group individuals from a developing nation in post-COVID-19 period.

Socio-demographic factors associated with hunger among food pantry users in Eastern Massachusetts.

To assess the determinants of hunger among food pantry users, the present study used a cross-sectional survey that included a modified Household Hunger Scale to quantify hunger. Mixed-effects logistic regression models were used to assess the relationship between hunger categories and various household socio-demographic and economic characteristics, such as age, race, household size, marital status and experience of any economic hardship. The survey was administered to food pantry users from June 2018 to August 2018 at various food pantries across Eastern Massachusetts with 611 food pantry users completing the questionnaire at any of the 10 food pantry sites. One-fifth (20⋅13 %) of food pantry users experienced moderate hunger and 19⋅14 % experienced severe hunger. Food pantry users who were single, divorced or separated; had less than a high school education; working part-time, unemployed or retired; or, who earned incomes less than $1000 per month were most likely to experience severe or moderate hunger. Pantry users who experienced any economic hardship had 4⋅78 the adjusted odds of severe hunger (95 % CI 2⋅49, 9⋅19), which was much larger than the odds of moderate hunger (AOR 1⋅95; 95 % CI 1⋅10, 3⋅48). Younger age and participation in WIC (AOR 0⋅20; 95 % CI 0⋅05-0⋅78) and SNAP (AOR 0⋅53; 95 % CI 0⋅32-0⋅88) were protective against severe hunger. The present study illustrates factors affecting hunger in food pantry users, which can help inform public health programmes and policies for people in need of additional resources. This is essential particularly in times of increasing economic hardships recently exacerbated by the COVID-19 pandemic.

Challenges and burden of the Coronavirus 2019 (COVID-19) pandemic for child and adolescent mental health: a narrative review to highlight clinical and research needs in the acute phase and the long return to normality

BACKGROUND: The coronavirus disease 2019 (COVID-19) is profoundly affecting life around the globe. Isolation, contact restrictions and economic shutdown impose a complete change to the psychosocial environment in affected countries. These measures have the potential to threaten the mental health of children and adolescents significantly. Even though the current crisis can bring with it opportunities for personal growth and family cohesion, disadvantages may outweigh these benefits. Anxiety, lack of peer contact and reduced opportunities for stress regulation are main concerns. Another main threat is an increased risk for parental mental illness, domestic violence and child maltreatment. Especially for children and adolescents with special needs or disadvantages, such as disabilities, trauma experiences, already existing mental health problems, migrant background and low socioeconomic status, this may be a particularly challenging time. To maintain regular and emergency child and adolescent psychiatric treatment during the pandemic is a major challenge but is necessary for limiting long-term consequences for the mental health of children and adolescents. Urgent research questions comprise understanding the mental health effects of social distancing and economic pressure, identifying risk and resilience factors, and preventing long-term consequences, including-but not restricted to-child maltreatment. The efficacy of telepsychiatry is another highly relevant issue is to evaluate the efficacy of telehealth and perfect its applications to child and adolescent psychiatry. CONCLUSION: There are numerous mental health threats associated with the current pandemic and subsequent restrictions. Child and adolescent psychiatrists must ensure continuity of care during all phases of the pandemic. COVID-19-associated mental health risks will disproportionately hit children and adolescents who are already disadvantaged and marginalized. Research is needed to assess the implications of policies enacted to contain the pandemic on mental health of children and adolescents, and to estimate the risk/benefit ratio of measures such as home schooling, in order to be better prepared for future developments.

Changing Work, Changing Families, and Public Policies Toward Low-Income Families

[...]overall economic inequality has notably increased (whether measured by earnings, income, or wealth), and many lower-income families today experience poverty and economic hardship. David Autor (2014) describes some of the key trends behind rising premiums to education and high skills;he finds that the earnings gap between college and high school–educated men roughly doubled in the three decades between 1979 and 2012, and that this trend is nearly as strong for women. [...]those without a college degree are increasingly left out of experiencing the fruits of economic growth. Nonstandard Schedules Work schedules are also more variable, and work is more likely to occur during nonstandard hours (Presser 2003;Lozano, Hamplová, and Le Bourdais 2016;Craig and Powell 2012;Golden 2015);and unstable work schedules have been linked with a lower likelihood of having health insurance (Lim 2019) and greater adverse health outcomes (Schneider and Harknett 2019). Some research has even found that union density or coverage predicts positive spillovers to wages of nonunion private-sector employees (Denice and Rosenfeld 2018), suggesting that the decline in union membership affects the economic potential and economic security not only of union members themselves.

Economic and Psychosocial Impact of COVID-19 in the Hispanic Community Health Study/Study of Latinos.

Objectives: To examine the prevalence and correlates of economic hardship and psychosocial distress experienced during the initial phase of the coronavirus disease 2019 (COVID-19) pandemic in a large cohort of Hispanic/Latino adults. Methods: The Hispanic Community Health Study/Study of Latinos (HCHS/SOL), an ongoing multicenter study of Hispanic/Latino adults, collected information about COVID-19 illness and psychosocial and economic distress that occurred during the pandemic (N=11,283). We estimated the prevalence of these experiences during the initial phase of the pandemic (May 2020 to May 2021) and examined the prepandemic factors associated with pandemic-related economic hardship and emotional distress using multivariable log linear models with binomial distributions to estimate prevalence ratios. Results: Almost half of the households reported job losses and a third reported economic hardship during the first year of the pandemic. Pandemic-related household job losses and economic hardship were more pronounced among noncitizens who are likely to be undocumented. Pandemic-related economic hardship and psychosocial distress varied by age group and sex. Contrary to the economic hardship findings, noncitizens were less likely to report pandemic-related psychosocial distress. Prepandemic social resources were inversely related to psychosocial distress. Conclusions: The study findings underscore the economic vulnerability that the pandemic has brought to ethnic minoritized and immigrant populations in the United States, in particular noncitizens. The study also highlights the need to incorporate documentation status as a social determinant of health. Characterizing the initial economic and mental health impact of the pandemic is important for understanding the pandemic consequences on future health. Clinical Trial Registration Number: NCT02060344.

Mental Health, Food Insecurity, and Economic Hardship among College Students during the COVID-19 Pandemic.

The mental health crisis among college students has become one of the most pressing issues, especially during the pandemic. Researchers discuss food insecurity as one of the leading causes of mental distress. The onset and continued impacts of the COVID-19 pandemic appear to compound food insecurity, economic hardship, and mental health. This study aims to understand the mental health of college students in relation to food insecurity and financial struggles to meet basic living expenses and debts during the pandemic. Authors collected survey data from college students in a public urban university in 2020 and conducted a multiple regression (N = 375). Evidence indicated that mental health became significantly worse after the pandemic onset. Mental health was significantly associated with food insecurity and multiple economic hardships, controlling for prepandemic mental health and other characteristics. The findings affirm that food insecurity and dire levels of economic hardship have devastating effects on the mental health of young adults. The article highlights the long-term implications of mental health affected by basic needs insecurity and the emergent need for integrated services and university-community partnerships.

Socio-economic and psychosocial determinants of violent discipline among parents in Asia Pacific countries during COVID-19: Focus on disadvantaged populations.

BACKGROUND: Mobility restrictions and economic downfall as a result of the COVID-19 pandemic may increase the risk of child maltreatment, including increased risk for violent discipline use by parents. OBJECTIVE: We examined the socio-economic and psychosocial determinants of violent discipline among parents against children in Asia Pacific countries. PARTICIPANTS & SETTINGS: This secondary data analysis included 7765 parents with children 6-18 years old in eight Asia Pacific countries. METHODS: 24 potential determinants were identified, including household demographic factors, parents' psychosocial status, and livelihood changes. The dependent variable was parental use of violent discipline (physical, severe physical, psycho-social aggression, and any violent discipline). Univariate and multivariable logistic regression analysis was conducted. RESULTS: A total of 41 % of households reported violent discipline. Parental demographic characteristics that were positively related to use of violent discipline were living in rural areas, not being a household head, female sex, age younger than 35 years, and large family size. Poor parental mental health status, loss of job or reduced income due to COVID-19, lack of food at household level, parent engagement in petty trade, and owning a business also predicted violent discipline. Mandatory curfew and receiving pandemic-related education materials were also positive predictors. CONCLUSION: Some socio-demographic factors, economic hardship due to COVID-19, and poor mental health status of parents are associated with the use of violent discipline against children in the Asia Pacific region. These results highlight several potential target areas for child protection interventions by governmental and non-profit organizations, including economic, social, and mental health interventions.

Impact of COVID-19's economic burden on alcohol-related problems: An indirect effect of depression, stress, and anxiety

The COVID-19 pandemic resulted in global monumental upheaval. Many people were displaced from their jobs and sources of income. COVID-19 was also linked to increased mental health difficulties and increased alcohol consumption and problems. The current study aims to identify the indirect effect of depression, stress, and anxiety on the relations between the economic burden of COVID-19 and alcohol problems. Participants (N = 344) were recruited via Amazon's Mechanical Turk (MTurk). Participants completed a questionnaire about substance use, mood, and the economic burden of COVID-19. Eligible participants were 18 years or older, consumed alcohol or cannabis within the past week, and verified through Amazon. Results indicated significant indirect effects of depression, stress, and anxiety on the association between the economic burden of COVID-19 and alcohol problems regardless of use. Findings revealed large effect sizes, suggesting that mental health symptomatology may have a large impact on the association between COVID-19's economic burden and alcohol-related problems. Findings suggest mental health difficulties indirectly effect the association between COVID-19's economic burden and alcohol-related problems. Intervention efforts targeting mental health may be beneficial in reducing alcohol problems among individuals experiencing distress due to large-scale public health impact, such as the COVID-19 pandemic. (PsycInfo Database Record (c) 2022 APA, all rights reserved) Impact Statement What is the significance of this article for the general public? The COVID-19 pandemic had substantial impact at the global level that included financial stressors, mental health difficulty, and alcohol use. Our findings that mental health difficulties (depression, anxiety, and stress) significantly impact the relations between COVID-19 economic burden and alcohol problems, may be useful in the design of future intervention efforts or policy to help individuals and communities facing unprecedented circumstances such as this pandemic. (PsycInfo Database Record (c) 2022 APA, all rights reserved)

Food Insecurity and Economic Hardship of College Students: Before and during the COVID-19 Pandemic

The COVID-19 pandemic has brought overwhelming concerns regarding food insecurity and economic impacts for young adults. This study examined food insecurity and economic hardship before and during the pandemic, using data from a cross-sectional survey with college students (N = 375). We employed two analytic approaches, a Latent Class Analysis and a cumulative risk approach. The findings suggest that food insecurity and economic hardship increased during the pandemic and, more importantly, the patterns of economic hardship differ in nature before and during the pandemic. Economic hardship significantly explained food insecurity, and the pandemic intensified the association. [ FROM AUTHOR] Copyright of Journal of Poverty is the property of Taylor & Francis Ltd and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full . (Copyright applies to all s.)

The effect of natural disasters on household economic hardship during a pandemic

The year 2020 provided a rare opportunity to examine how US households experience economic hardship when natural disasters occur during a large-scale public health crisis, such as the COVID-19 pandemic. Using a nationally representative sample of adults, this study examines the effect of natural disasters on household economic hardships during a pandemic, measured by food insecurity, mortgage or rent delinquency, and unemployment. The study estimated individual fixed-effect models after controlling for time trends and time-variant covariates. We find that while a disaster incident in the community during a pandemic is not associated with household economic hardships in aggregate, its effects are experienced differently by people according to the community-level severity of COVID-19 and the individual-level factors characterized as vulnerability and resilience. Our findings have implications for targeted disaster relief and for building resilience among residents to adverse events.

Political Trust, Democratic Satisfaction, and Partisanship: Explaining Leadership Approval in Indonesia in Times of Economic Hardship during the COVID-19 Crisis

How does economic hardship during a crisis affect people’s evaluation of the political leadership? In this paper, we investigate how the negative impact of an exogenous event like COVID-19 interacts with other important phenomena which influence leadership approval, such as partisanship, political trust, and satisfaction with democracy. Using a nationally representative survey in Indonesia (N = 1,200), we show that economic hardship does not uniformly undermine leadership approval;rather, this effect is moderated by partisanship and by satisfaction with the functioning of democracy. Of the people who voted for President Jokowi in the 2019 election, those who faced economic hardship gave him lower levels of approval than those who were better-off. At the same time, those satisfied with the functioning of democracy in the country reported higher approval even if they faced economic hardship. We discuss the policy implications of our findings and provide a theoretical framework for the mechanisms that affect leadership approval during a crisis.

The intersection of immigration policy impacts and COVID-19 for Latinx young adults.

For many Latinx young adults, COVID-19 has exposed exclusionary policies that heighten risk for contracting the virus and that leave them and their parents unprotected. This study has a dual purpose; first, to quantitatively examine immigration policy impacts of discrimination, isolation, threats to family, and vulnerability, and their association to economic consequences experienced by Latinx young adults in Central Texas during the initial months of the COVID-19 pandemic. Second, to qualitatively explore how policy impacts affected Latinx young adults during the pandemic, and the coping mechanisms they utilized to minimize these impacts. Quantitative results show that on average, Latinx young adults (N = 83) reported low discrimination and isolation but moderate threats to family and vulnerability, with rates of isolation and vulnerability higher for foreign-born than U.S.-born Latinx young adults. Perceived discrimination due to one's own or family immigration status was associated with economic hardship. Qualitative findings show that Latinx young adults (n = 21) experienced (a) precarious conditions that pose a threat of COVID-19 infection for Latinxs, (b) parental job loss due to vulnerable employment leads to deprivation, and (c) policies that disproportionally discriminate against the Latinx community and exclude them from vital services. Despite these challenges, participants also drew on resilience and expressed hope for the future. The article concludes with implications for policymakers and practitioners to provide protections and services to Latinx young adults and their family members.

COVID-19 and gender differences in mental health in low- and middle-income countries: Young working women are more vulnerable.

This study examines gender differences in the relationship between COVID-19-triggered economic hardship and mental health complaints, defined by self-reported anxiety/depression, of young people (17-29) in four low- and middle-income countries (LMICs). To do this, we use two waves of the Young Lives (YL) phone survey. Logistic regression results show that young women, on average, were more likely to report anxiety than men in Peru and Vietnam in the first survey wave (June-July 2020). However, this disparity continued to persist in all four countries in the second wave (August-October 2020) as the pandemic prolonged. Notably, we find that young women that faced economic hardship by losing job or income were more likely to report anxiety than their male counterparts. As COVID-19 cases remain consistently high in many LMICs, which limit economic activities, the vulnerability of young women may likely increase. This issue requires urgent policy attention by awareness-raising campaigns, more hotline services for emergency help, social security programs for women, and available women's sexual and reproductive health services at a specific section in hospitals.

COVID-19-Related Assault on Asians: Economic Hardship in the United States and India Predicts Diminished Support for Victim Compensation and Assailant Punishment.

Background: There has been an alarming increase in discrimination and violence towards Asians during the coronavirus (COVID-19) pandemic amid reports that the virus was first detected in China. In an incident involving a COVID-19-related physical assault, this study examined whether economic hardship experienced by participants during the pandemic and the race of the victim (Chinese, White) would influence support to compensate a victim and punish the assailant. The study also explored whether the perception that the victim experienced emotional and physical suffering due to the assault would mediate the relationships. Method: Participants in India and the United States reported on their own economic hardship due to the pandemic. They then read about an incident in which an innocent person suffered a COVID-19-related physical and verbal attack, and indicated if they would support punishing the assailant and financially compensating the victim. Results: When the victim was Chinese, participants experiencing a high degree of COVID-19 economic hardship were less likely to support financially compensating the victim or punishing the assailant compared to when the victim was White. Furthermore, when the victim was Chinese, the negative associations between economic hardship and financially compensating the victim and punishing the assailant were mediated by reduced recognition that the victim suffered emotional trauma and pain as a result of the attack. Conclusions: COVID-19-driven economic hardship experienced by participants predicted an array of reactions that reflected reduced recognition of the civil and human rights of a victim of a COVID-19-related assault. These findings have significant implications for mental health, public health, and the justice system, and underscore the pressing need for prompt action to mitigate economic hardship and to address racism and discrimination.

Accumulation of economic hardship and health during the COVID-19 pandemic: Social causation or selection?

This study examines whether economic hardship during the COVID-19 pandemic is deleteriously associated with psychological distress and self-rated health. A social causation perspective suggests that exposure to economic hardship will harm well-being, but a social selection perspective suggests that the appearance of health effects of hardship during the pandemic are attributable to the increased risk of exposure to hardship associated with poor well-being at the start of the pandemic. We also propose a third perspective, economic selection, which suggests that economic hardship prior to the pandemic negatively affects health and increases risk of exposure to hardship during the pandemic; consequently, an association between health and economic hardship during the pandemic may be spurious, and entirely due to pre-existing levels of hardship. To test these competing perspectives, we use a longitudinal study based in Canada that began in late March of 2020 and followed respondents monthly in April, May, and June. Baseline psychological distress and self-rated health, as well as economic hardship prior to the pandemic, independently predict the accumulation of monthly periods of hardship from April to June. The accumulation of periods of hardship from April to June is deleteriously associated with psychological distress and self-rated health in June. Controls for prior economic hardship and baseline health weaken the association between accumulation of periods of hardship and psychological distress, while also eliminating the association between accumulation of hardship and self-rated health. These findings favor a social causation perspective for psychological distress and a social selection perspective for self-rated health, with less evidence found in support of economic selection. This study took place during the first months of the COVID-19 pandemic, though, and associations with self-rated health may have become more evident as hardship further wore on individual well-being over a longer period of time.

The impact of the COVID-19 pandemic on economic security and pregnancy intentions among people at risk of pregnancy.

OBJECTIVE: To understand how the COVID-19 pandemic affected women of reproductive age, specifically their economic conditions, desire for pregnancy, and access to contraceptive services during the pandemic. STUDY DESIGNS: A total of 554 women respondents age 18 to 49 and reside in the United States were recruited using social media between May 16, 2020 and June 16, 2020. Logistic regression models assessed predictors of reporting pandemic-related changes in economic conditions, desire for pregnancy, and contraceptive access. RESULTS: Compared to White/Caucasian respondents, Hispanics/Latinx and Black/African Americans have 4 times the odds of experiencing inability to afford food, transportation, and/or housing (p < 0.01) during the pandemic; Hispanics/Latinx have twice the odds of experiencing food insecurity (p < 0.05). Inability to afford food, transportation, and/or housing was associated with drop in desire to be pregnant (p < 0.01). Despite the 25% of participants who reported a drop in desire for pregnancy, 1 in 6 reported difficulty accessing contraceptives, particularly those who experienced reduced income (p < 0.01). CONCLUSIONS: In our sample, the pandemic unevenly affected people from different socioeconomic groups. Many simultaneously experienced reduced income, difficulties in accessing contraception, and a greater desire to avoid a pregnancy. This combination of factors increases the chance that people will experience unintended pregnancies. IMPLICATIONS: The pandemic caused economic hardship and an increased desire to postpone or prevent pregnancy at the same time that it created new barriers to contraceptive services. This pattern may lead to a potential net effect of an increase in unintended pregnancy, particularly among people who had difficulty affording food, transportation, and/or housing during the pandemic.

Gender differences in experiencing coronavirus-triggered economic hardship: Evidence from four developing countries.

The effect of labor market inequalities during economic crises is a well-established topic. Yet, little is known about this in the context of developing countries. We use recently collected phone survey data by Young Lives (YL) from four countries-Ethiopia, India (Andhra Pradesh and Telangana State), Peru and Vietnam-to examine whether men and women suffer from coronavirus-triggered economic hardship differently. We find that men are more likely to lose jobs and income in Ethiopia and India-countries with a very high male-dominated formal sector. Conversely, gender effect is not significant in Peru and Vietnam with comparatively higher integration of women in formal employment. We further investigate whether gender effect varies by 'wealth' level. Findings suggest that only in India, in the wealthier group, men are more likely to face job and income loss than women, possibly indicating greater male concentration in higher-class occupations. However, the gender gap in facing hardship by wealth group is not significant for other countries.

Screening for economic hardship for child welfare-involved families during the COVID-19 pandemic: A rapid partnership response.

BACKGROUND: Pandemics have a wide range of economic, health and social consequences related to both the spread of a disease and efforts made by government leaders to contain it which may be particularly detrimental for the child welfare-involved population. This is because child welfare agencies serve some of the highest needs children and families. A significant proportion of these families face economic hardship, and as a result of containment measures for COVID-19, more families inevitably will. OBJECTIVE: Given the range of negative consequences related to the pandemic and the evolving supports available to families, child protection workers needed a clinical tool to guide and support work with families informed by an understanding of economic hardship. The objective of this paper is to report on the development and implementation strategy of a tool to be used for practice intervention during the pandemic. METHODS: Action research methodology was utilized in the creation of the clinical tool. The tool's development and implementation occurred through an academic/child welfare sector partnership involving child welfare agencies representing diverse regions and populations in Ontario, Canada. Factor analysis of representative child welfare data from the Ontario Incidence Study of Reported Child Abuse and Neglect 2018 (OIS-2018) on economic hardship was used to inform the development of questions on the clinical tool. RESULTS: The development and implementation strategy of the clinical tool are described, including the results from analyses of the OIS-2018. CONCLUSIONS: Future directions for the project are discussed, including considerations for using this tool beyond the pandemic.