Authors: Yawen Liu, Qi Cui, Yu Liu, Jinzhu Zhang, Meifang Zhou, Tariq Ali, Lingyu Yang, Kuishuang Feng, Klaus Hubacek, Xinbei Li.
Journal: Structural Change and Economic Dynamics, Volume 59, December 2021, Pages 482-495.
The effectiveness of different countermeasures to economic crisis from the public health emergency is still inadequately understood. We establish an illustrative scenario, specifying the shocks of COVID-19 pandemic and countermeasures applying a general equilibrium model to analyze the effectiveness of countermeasures with a particular focus on trade-offs in the impacts of monetary and fiscal policies. We find that both monetary and fiscal countermeasures could effectively mitigate the economic damages to GDP and employment. However, they would also produce adverse side-effects such as an increase in consumer price by 1.05% and 0.57%, respectively, and a decline in exports by 2.61% and 1.05%, respectively. Monetary policies would exacerbate the damages to external demand by supply-side shocks of the pandemic, but they are more suitable for mitigating demand-side shocks. While fiscal policies would benefit nearly all producing sectors, monetary policies would mainly affect export-oriented manufacturing sectors negatively.
Two professors nominated by the University of Groningen have been awarded Royal Decorations on Tuesday 26 April. Professor K.U. Loos is appointed Knight of the Order of the Netherlands Lion. She received this honour from Mayor K. Schuiling at...
Cisca Wijmenga treedt per 1 september 2023 toe tot de Raad van Toezicht van de Hanzehogeschool.
The Board of the University of Groningen has taken note of the Letter to the House of Representatives regarding internationalization in higher education, sent to the House on Friday 21 April by the Minister of Education, Culture and Science Robbert...
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