Pandemics, Economics and Inequality


Book Description

This Pivot book provides a framework for understanding the economic and potentially unequal effects of pandemics, focusing closely on the Spanish Flu. It provides an in-depth analysis of the different effects of the Spanish Flu on the economy from unequal mortality to wages, housing and output. There is a general review of the literature but an important feature of this book is that it explains results using data from Spain, an ideal country to perform this exercise, as its mortality data is not affected by the First World War. Spain was also developed enough to have reliable data, but it was very heterogeneous across regions which will allow a comparison of more and less developed regions. No other book exists that offers a comprehensive and data-driven view of the effects of the Spanish Flu, which is the closest pandemic example to Covid-19. With the outbreak of Covid-19 increasing the need to learn about the economic effects of pandemics, this book will be of interest to academics and students of economic history, macroeconomics (economic crises) and economic development, as well being accessible for the general reader.




The Coronavirus Pandemic and Inequality


Book Description

This book examines the effects of the Covid-19 pandemic on the degree of inequality in wellbeing (income and wealth, health, access to health care, employment, and education) in a number of different countries around the globe. The effect of socioeconomic inequality within a country on the outcome of the pandemic is also considered. This book studies the differential effects of Covid based on location, age, income, education, gender, race/ethnicity, and immigrant status. Special attention is devoted to indigenous populations and those who are institutionalized. The short- and long-term effects of public policy developed to deal with the pandemic’s fallout are studied, as are the effects of the pandemic on innovations in health care systems and likely extensions of public policy instituted during the pandemic to alleviate unemployment, poverty, and income inequality.




COVID-19 Pandemic and Global Inequality


Book Description

The book intends to capture the most critical issue that has cropped up as an aftermath of the Corona pandemic- the phenomenon of widening of global inequalities across nations depending upon their economic position, support policies of the government and international relationship particularly in the context of alarming growth of unemployed in the labour market, business activity and social sector. This book is expected to provide new areas of research to both academicians and policy makers to re-think about global cooperation for bridging the inequalities for a better world. It tries to incorporate the valuable contribution of experts from various fields of knowledge in a consolidated volume. This text will be revised once the chapters are finalized and put together in structured themes. The table of content lists some of the chapters that have been confirmed, but there are more that are being invited by the editors.




The Aggregate and Distributional Effects of Financial Globalization: Evidence from Macro and Sectoral Data


Book Description

We take a fresh look at the aggregate and distributional effects of policies to liberalize international capital flows—financial globalization. Both country- and industry-level results suggest that such policies have led on average to limited output gains while contributing to significant increases in inequality—that is, they pose an equity–efficiency trade-off. Behind this average lies considerable heterogeneity in effects depending on country characteristics. Liberalization increases output in countries with high financial depth and those that avoid financial crises, while distributional effects are more pronounced in countries with low financial depth and inclusion and where liberalization is followed by a crisis. Difference-indifference estimates using sectoral data suggest that liberalization episodes reduce the share of labor income, particularly for industries with higher external financial dependence, those with a higher natural propensity to use layoffs to adjust to idiosyncratic shocks, and those with a higher elasticity of substitution between capital and labor. The sectoral results underpin a causal interpretation of the findings using macro data.




Will COVID-19 Have Long-Lasting Effects on Inequality? Evidence from Past Pandemics


Book Description

This paper provides evidence on the impact of major epidemics from the past two decades on income distribution. The pandemics in our sample, even though much smaller in scale than COVID-19, have led to increases in the Gini coefficient, raised the income share of higher-income deciles, and lowered the employment-to-population ratio for those with basic education compared to those with higher education. We provide some evidence that the distributional consequences from the current pandemic may be larger than those flowing from the historical pandemics in our sample, and larger than those following typical recessions and financial crises.




COVID-19: Social Inequalities and Human Possibilities


Book Description

COVID-19: Social Inequalities and Human Possibilities examines the unequal impact of the COVID-19 pandemic on individuals, communities, and countries, a fact seldom acknowledged and often suppressed or invisible. Taking a global approach, this book demonstrates how the impact of the pandemic has differed as a result of social inequalities, such as economic development, social class, race and ethnicity, sex and gener, age, and access to health care and education. Economic inequality between and within nations has significantly contributed to the chances of individuals contracting and dying from the virus. Developing nations with weak health care systems, workers whose jobs cannot be performed remotely, the differences between those with and without access to soap and water to wash their hands, or the ability to practice physical distancing also account for the unequal impact of the virus. Racial and ethnic minorities experience higher death rates from the virus, which has also unequally affected indigenous peoples and urban and foreign migrants around the world. Inequality is also embedded in national and international responses to the pandemic, as giving and receiving aid is often impacted by inequalities of demographic and national power and influence, resulting in national and global competition rather than the collaboration needed to end the pandemic. Along with the other titles in Routledge’s COVID-19 Pandemic series, this book represents a timely and critical advance in knowledge related to what many believe to be the greatest threat to global ways of being in more than a century. COVID-19: Social Inequalities and Human Possibilities is therefore indispensable for academics, researchers, and students as well as activists and policy makers interested in understanding the social impact of the COVID-19 pandemic and eradicating the inequalities it has exacerbated.




Pandemics and Inequality: Perceptions and Preferences for Redistribution


Book Description

This paper uses an individual-level survey conducted by the Edelman Trust Barometer in mid-April for 11 advanced and emerging market economies to examine perceptions of government performance in managing the health and economic crisis, beliefs about the future, and attitudes about redistribution. We find that women, non-college educated, the unemployed, and those in non-teleworkable jobs systematically have less favorable perceptions of government responses. Personally experiencing illness or job loss caused by the pandemic can shape people’s beliefs about the future, heightening uncertainties about prolonged job losses, and the imminent threat from automation. Economic anxieties are amplified in countries that experienced an early surge in infections followed by successful containment, suggesting that negative beliefs can persist. Support for pro-equality redistributive policies varies, depending on personal experiences and views about the poor. However, we find strong willingness to provide social safety nets for vulnerable individuals and firms by those who have a more favorable perception of government responses, suggesting that effective government actions can promote support for redistributive policies.




The Rise in Inequality After Pandemics: Can Fiscal Support Play a Mitigating Role?


Book Description

Major epidemics of the last two decades (SARS, H1N1, MERS, Ebola and Zika) have been followed by increases in inequality (Furceri, Loungani, Ostry and Pizzuto, 2020). In this paper, we show that the extent of fiscal consolidation in the years following the onset of these pandemics has played an important role in determining the extent of the increase in inequality. Episodes marked by extreme austerity—measured using either the government’s fiscal balance, health expenditures or redistribution—have been associated with an increase in the Gini measure of inequality three times as large as in episodes where fiscal policy has been more supportive. We survey the evidence thus far on the distributional impacts of the COVID-19 pandemic, which suggests that inequality is likely to increase in the absence of strong policy actions. We review the case made by many observers (IMF 2020; Stiglitz 2020; Sandbu 2020b) that fiscal support should not be withdrawn prematurely despite understandable concerns about high public debt-to-GDP ratios.




The Unequal Pandemic


Book Description

Rated as a top 10 book about the COVID-19 pandemic by New Statesman: https://www.newstatesman.com/culture/2021/07/best-books-about-covid-19-pandemic EPDF and EPUB available Open Access under CC-BY-NC- ND It has been claimed that we are ‘all in it together’ and that the COVID-19 virus ‘does not discriminate’. This accessible, yet authoritative book dispels this myth of COVID-19 as an ‘equal opportunity’ disease, by showing how the pandemic is a syndemic of disease and inequality. Drawing on international data and accounts, it argues that the pandemic is unequal in three ways: it has killed unequally, been experienced unequally and will impoverish unequally. These inequalities are a political choice: with governments effectively choosing who lives and who dies, we need to learn from COVID-19 quickly to prevent growing inequality and to reduce health inequalities in the future. COVID-19 is an unequal pandemic.




Inequality Kills Us All


Book Description

The complex answer to why the United States does so poorly in health measures has at its base one pervasive issue: The United States has by far the highest levels of inequality of all the rich countries. Inequality Kills Us All details how living in a society with entrenched hierarchies increases the negative effects of illnesses for everyone. The antidote must start, Stephen Bezruchka recognizes, with a broader awareness of the nature of the problem, and out of that understanding policies that eliminate these inequalities: A fair system of taxation, so that the rich are paying their share; support for child well-being, including paid parental leave, continued monthly child support payments, and equitable educational opportunities; universal access to healthcare; and a guaranteed income for all Americans. The aim is to have a society that treats everyone well—and health will follow.