The Economy in the Time of Covid-19.

Format:

Book

Government document

Author/Creator:

World Bank Group.

Series:

World Bank e-Library.

Latin America and Caribbean Semiannual Report

Language:

English

Subjects (All):

COVID-19.

Household Income Inequality.

Labor Force Participation.

Labor Income Inequality.

Latin America.

Slowdown.

Local Subjects:

COVID-19.

Household Income Inequality.

Labor Force Participation.

Labor Income Inequality.

Latin America.

Slowdown.

Physical Description:

1 online resource (64 pages)

Place of Publication:

Washington, D.C. : The World Bank, 2020.

System Details:

data file

Summary:

After a period of rapid economic growth associated with high commodity prices, the region had entered a phase of lackluster performance. Recent developments, including a new oil price shock, and the outbreak of the Covid-19 epidemic will push the region into recession. Many countries are struggling to contain the spread of the Covid-19 epidemic while avoiding a dramatic decline in economic activity. The report analyzes how to think about this tradeoff. It estimates the potential health costs, assesses the effectiveness of diverse containment strategies, and discusses how large the economic cost could be. The current crisis is unprecedented because it combines a fall in global demand, tighter financial conditions and a major supply shock. The response needs to consider how to socialize the losses, how to prevent a collapse of the financial sector, how to protect jobs and livelihoods, and how to manage and divest the assets that will inevitably end up in the hands of the state.

Notes:

Description based on print version record.

ISBN:

1-4648-1570-4

Publisher Number:

10.1596/978-1-4648-1570-6