1st Edition

Economic Policy and the Covid-19 Crisis The Macroeconomic Response in the US, Europe and East Asia

    282 Pages 57 B/W Illustrations
    by Routledge

    282 Pages 57 B/W Illustrations
    by Routledge

    This book offers an assessment of the different monetary and fiscal policy responses that have been implemented by national governments in major European and Asian countries faced with the Covid-19 crisis since 2020; it also deals with the case of the US experience as a benchmarking example.

    The book provides a comprehensive cross-country comparative study on health crisis management at the macroeconomic level. Its focus on monetary and fiscal policies across different countries in Asia, Europe and the USA makes it unique. Divided into three parts following a general introduction that sets the context of the study, the book deals with the case of the USA, EU and European countries as well as with that of key Asian countries. Of specific relevance is the European Union and euro-area contexts that serve as a framework to the different EU national monetary and fiscal policy responses. Each chapter deals with a specific country, including Italy and the UK in Europe and Singapore and South Korea in Asia, and covers the following topics: the extent of the outbreak of the public health crisis and its macroeconomic impact; the comparative examination of fiscal and monetary policy responses to both crises; and an overall assessment of the effectiveness of these policies along with the public health policy to mitigate the economic impact.

    Given the unprecedented nature of the Covid-19 crisis, anyone eager to know more about its macroeconomic impact and ensuing policies in a comparative framework will be keen to read this book. It will be essential reading to any researcher, policy maker and/or analyst working in the area of public policy and is also a unique contribution to the field of European studies, Asian studies and Comparative Economic Studies.

    Introduction Part 1: The Experience of the USA 1. Monetary and Fiscal Policies in the United States Part 2: Monetary and Fiscal Policies in the Euro-Area and in the EU 2. The Covid-10 Monetary and fiscal Response in the euro-area and the EU 3. The Case of France 4. The Case of Germany 5. The Case of Italy 6. The Case of the UK Part 3: Monetary and Fiscal Policies in Asia 7. The Case of China 8. The Case of Japan 9. Monetary and Fiscal Policy Response to the Covid-19 Pandemic - The case of Korea 10. The Case of Singapore Appendix: Chronicle of the Macroeconomic Responses in the US, Europe, and East Asia


    Bernadette Andreosso-O’Callaghan is Jean Monnet Professor of Economics at the University of Limerick Ireland and International Research Fellow at the Ruhr Universität Bochum, Germany.

    Woosik Moon is currently a professor of economics at the Graduate School of International Studies, Seoul National University (SNU) Seoul, Korea.

    Wook Sohn is Professor and Associate Dean at the KDI school of Public Policy and Management Sejong, Korea.