Spring Forward or Fall Back? The Post-Crisis Recovery of Firms


Book Description

This paper studies corporate performance in the aftermath of the global crisis by examining 6,581 manufacturing firms in 48 developed and developing countries in 2010, identifying factors of resilience as well as vulnerability. Based on a cross-sectional analysis, the results show that pre-crisis leverage and short-term debt have had negative effects on the speed of the recovery, while asset tangibility has had positive effects. The negative effect of leverage is non-linear, being particularly strong in firms with high pre-crisis leverage. Furthermore, the effects are different for advanced and emerging market economies. The paper also shows that the macroeconomic framework critically matters for firm growth. In particular, in countries that have allowed the exchange rate to depreciate, firms have had a faster recovery in sectors highly dependent on trade.




Post-Crisis Recovery


Book Description

Emerging market financial crises during the late 1990s were marked by sudden withdrawals of funds by foreign creditors, resulting in production declines. The IMF favored positive signals to potential foreign creditors and initially recommended disciplined fiscal policy during the height of crisis, countering standard Keynesian recommendations of expansionary fiscal stimulus. This paper formulates an open-economy general equilibrium model for resolving this policy conundrum and analyzing the impact of disciplined fiscal policy on post-crisis recovery. The model demonstrates via simulations that disciplined fiscal policy will improve (worsen) post-crisis recovery in the presence (absence) of appropriately defined production flexibility.




How to Manage Public Investment During a Postcrisis Recovery


Book Description

Public investment is likely to be an important component of any postcrisis recovery program. As countries work to ensure a smart, green, fair recovery, investing in modern, resilient, and efficient infrastructure assets will be key. This How to Note discusses how countries should manage public investments to recover from the COVID-19 pandemic and similar crises. It provides countries with guidance on making efficient use of public investment to support economic recovery on three different capacity levels: basic, medium, and advanced.




The SAFER-R Model


Book Description

Psychological Crisis Intervention: The SAFER-R Model is designed to provide the reader with a simple set of guidelines for the provision of psychological first aid (PFA). The model of psychological first aid (PFA) for individuals presented in this volume is the SAFER-R model developed by the authors. Arguably it is the most widely used tactical model of crisis intervention in the world with roughly 1 million individuals trained in its operational and derivative guidelines. This model of PFA is not a therapy model nor a substitute for therapy. Rather it is designed to help crisis interventionists stabile and mitigate acute crisis reactions in individuals, as opposed to groups. Guidelines for triage and referrals are also provided. Before plunging into the step-by-step guidelines, a brief history and terminological framework is provided. Lastly, recommendations for addressing specific psychological challenges (suicidal ideation, resistance to seeking professional psychological support, and depression) are provided.




Politics of Recuperation


Book Description

Through a range of ethnographic case studies focusing on the Portuguese recovery after the economic crisis, this book begins a conversation about the experience of recuperation and repair. Located in the cracks and gaps between the state and society, recuperation appears as a social and infrastructural answer linked to reciprocity, critical urbanity, generational interweaving, alternate ordering and reconnection of different bodies and histories. With chapters looking at public art in Lisbon and recuperative modes of action, this collection takes a thorough look at a society in crisis and shows how the people of the community create micro-politics of resistance. Ultimately, Politics of Recuperation reflects on the meaning of personal and collective resilience in Europe today, as well as on the limits and interstices of contemporary politics.




Safety and Security in Tourism


Book Description

Natural disasters, wars and conflicts, epidemics, and other major crises can devastate a tourism service or destination. Though there is extensive literature and research on preparation and coping with tourism crises, there is a gap in information on how to best market and recover from the destruction of caused to tourism businesses and destinations. This book fills the gap by comprehensively examining how to rebuild the market for a tourism service or destination after a catastrophe. This important book presents leading experts from around the world providing useful instruction on effective ways to plan for future crisis response and strategies for recovering business. A crisis may arise from several types of destructive occurrences, from natural physical destruction of important infrastructure to acts of terrorism. Because of the broad range of potential problems, there is no single strategy for which to deal with crises. The book explores a wide range of catastrophes, from Hurricane Katrina to tsunamis to war, taking a detailed look at management and administrative strategies which can help stimulate tourism recovery. This book explores stealth and catastrophic risks, risk perceptions, mediating the effects of natural disasters on travel intention, and various marketing strategies designed to bring customers back. This volume may become one of the most crucial resources in a tourism professional’s library. The book is extensively referenced and includes several tables and figures to clearly explain data. This book is essential reading for tourism researchers, tourism educators, tourism industry managers, and tourism industry administrators. This book was published as a special issue of the Journal of Travel & Tourism Marketing.




Crisis Management and Recovery for Events


Book Description

The first text to fully explore the issue of ownership and governance of international events. Split onto two distinct parts of ‘Theory’ and ‘Cases’, it presents cases from sports as well as non-sports events, in addition to general principles regarding ownership and governance based on historical, legal and managerial considerations.




Post Corona


Book Description

New York Times bestseller! "Few are better positioned to illuminate the vagaries of this transformation than Galloway, a tech entrepreneur, author and professor at New York University’s Stern School. In brisk prose and catchy illustrations, he vividly demonstrates how the largest technology companies turned the crisis of the pandemic into the market-share-grabbing opportunity of a lifetime." --The New York Times "As good an analysis as you could wish to read." --The Financial Times From bestselling author and NYU Business School professor Scott Galloway comes a keenly insightful, urgent analysis of who stands to win and who's at risk to lose in a post-pandemic world The COVID-19 outbreak has turned bedrooms into offices, pitted young against old, and widened the gaps between rich and poor, red and blue, the mask wearers and the mask haters. Some businesses--like home exercise company Peloton, video conference software maker Zoom, and Amazon--woke up to find themselves crushed under an avalanche of consumer demand. Others--like the restaurant, travel, hospitality, and live entertainment industries--scrambled to escape obliteration. But as New York Times bestselling author Scott Galloway argues, the pandemic has not been a change agent so much as an accelerant of trends already well underway. In Post Corona, he outlines the contours of the crisis and the opportunities that lie ahead. Some businesses, like the powerful tech monopolies, will thrive as a result of the disruption. Other industries, like higher education, will struggle to maintain a value proposition that no longer makes sense when we can't stand shoulder to shoulder. And the pandemic has accelerated deeper trends in government and society, exposing a widening gap between our vision of America as a land of opportunity, and the troubling realities of our declining wellbeing. Combining his signature humor and brash style with sharp business insights and the occasional dose of righteous anger, Galloway offers both warning and hope in equal measure. As he writes, "Our commonwealth didn't just happen, it was shaped. We chose this path--no trend is permanent and can't be made worse or corrected."




Culture and Public Action


Book Description

Led by Amartya Sen, Mary Douglas, and Arjun Appadurai, the distinguished anthropologists and economists in this book forcefully argue that culture is central to development, and present a framework for incorporating culture into development discourse. For further information on the book and related essays, please visit www.cultureandpublicaction.org.




After Trauma


Book Description

"From a young age, Ali Rothrock fell head over heels in love with firefighting. But when she entered the fire service, she was ostracized by those who weren't willing to accept a girl into their ranks. Constant microaggressions, overt sexism, and instances of sexual violence wore her down until she no longer believed she could safely exist in the world. The trauma of her experiences eventually resulted in a diagnosis of post-traumatic stress disorder, and that diagnosis was a first step toward healing. In the years since, Ali has worked as a domestic violence and sexual assault counselor, an advocate for abused children, an inspirational speaker, and a crisis counselor for first responders. On her journey of recovery, she has collected other people's stories of resilience ... [This] is a story of adversity, grit, defiance, choice, and hope. Each chapter offers a lesson to help readers overcome their own trauma, including concrete and actionable advice on how to re-story a life after adversity. We all have the ability to re-define ourselves, to feel hope about what lies ahead, and to choose our own way forward"--