Novel welfare state responses in times of crises: the COVID-19 crisis versus the Great Recession
Socio-Economic Review
; 2022.
Article
in English
| Web of Science | ID: covidwho-1997075
ABSTRACT
Using microsimulation tools, we explore the social policy responses to the Great Recession and the COVID-19 crisis, and their impact on preserving living standards in Ireland. During the Great Recession, the focus was on cost reduction. By contrast, during the COVID-19 crisis, the focus was on mitigating the impact on household incomes. In addition, an innovation in joint public and private responses emerged through social partnership. We find a stronger policy response during the COVID-19 crisis than the Great Recession. The COVID-19 crisis was more rapid, leaving more individuals out of work, thus family support was weaker. This was compensated by stronger private support through social partnership. Consequently, those with lower incomes had larger disposable incomes at the onset of the crisis;an effect that reduced with policy learning. We find increasing trust in public institutions during the COVID-19 crisis as opposed to a decline during the Great Recession.
Full text:
Available
Collection:
Databases of international organizations
Database:
Web of Science
Language:
English
Journal:
Socio-Economic Review
Year:
2022
Document Type:
Article
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