Contents

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

The case of Korea

Moon, Woosik / Sohn, Wook(Author)

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Abstract

Despite the outbreak of Covid-19 in Korea, there has been no lockdown and the impact of the virus has remained rather limited to date. This suggests that the correct fiscal and monetary policy stance to be taken by the Korean government and the Bank of Korea, should not have been to stem the crisis by speedy and preemptive action as in the case of the 2008 global financial crisis, but to mitigate its economic impact by a gradual response, which would be taken in tandem with the evolution and intensity of the Covid-19 pandemic. Furthermore, given the enormous financial cost ensuing from the misallocation of resources, actions targeting vulnerable sectors and groups should be prioritized. A gradual and targeted response in place of a speedy and undiscriminating response seems to be the more appropriate method to cope with the Covid-19 crisis in Korea.

Issue Date
2021-09
Publisher
Routledge
Subjects
Area Studies; Economics; Finance; Business&Industry
Contents
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
Pages
282
URI
https://archives.kdischool.ac.kr/handle/11125/42735
URL
https://www.taylorfrancis.com/chapters/edit/10.4324/9781003153603-13/case-korea-woosik-moon-wook-sohn?context=ubx&refId=87d63a08-573c-48c4-9c04-3446a28ebee2
DOI
10.4324/9781003153603
ISBN
9780367721374
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