Second 'Instant' eBook | COVID-19 economic crisis: Act fast and do whatever it takes

Wednesday, March 18, 2020

Leading economists from around the world are calling for swift policy action to mitigate the economic damage from the global pandemic. In the latest eBook on the coronavirus crisis from CEPR/ VoxEU – Mitigating the COVID-19 Economic Crisis: Act Fast and Do Whatever It Takes – the experts are unanimous that the case for decisive and coordinated fiscal stimulus is overwhelming.

Contributors to the new eBook explore coordinated policy options to reduce the accumulation of ‘economic scar tissue’ – reducing the number of unnecessary personal and corporate bankruptcies, maintaining healthy levels of spending, and increasing public investment and healthcare spending – as well as evaluating the various funding mechanisms open to national and international institutions.  

The authors – all senior economists  –  advocate that this is the time for big fiscal artillery, coordinated at the European and international level, in a fast and decisive manner to mitigate the economic fallout from COVID-19.

Download the book here

The book’s editors, Professors Richard Baldwin and Beatrice Weder di Mauro conclude:

‘The future of the global economy may forever be altered by the effects of COVID-19 and the policy and behavioural changes required to cope with the crisis. Some of these may be beneficial – including a changed attitude to public spending on investment, innovation in flexible working, and a decline in inequality – but there may also be less mobility.’

‘But what will this do to the populist political agenda of economic nationalism that grew out of the last crisis? The global coordination that the policy responses in this book demand may yet reward leadership and transparency, a far cry from the rhetoric of recent years.’

More Covid-19 Coverage from VoxEU and CEPR here