Special Covid-19 Series, Issue #16

Autore :

Data: 11-11-2020

Tipo: Other

Tematica: Action Institute

This is the sixteenth issue of the Action Special COVID-19 Series that Action Institute is publishing to provide an overview of the novel Coronavirus pandemic, in which the effects of the virus are approached from different perspectives: from medical facts to health policy, from economic policy to macroeconomic issues, from politics to financial markets, from technology to the impact on businesses and more.

This weekly issue proposes a selection of papers and articles focused on (i) Macroeconomic issues and (ii) Impact on business.


“Economics has never been a science – and it is even less now than a few years ago.”, Paul Samuelson

Will COVID-19 be followed by inflation? An inter-generational transfer perspective” (, Lubos Pastor, June 12th, 2020). Governments around the world are spending mightily to deal with the fallout of the COVID-19 crisis. When the dust settles, the burden of public debt will be much heavier than it is today.

Demand versus supply: Price adjustment during the COVID-19 pandemic” (, Almut Balleer, Sebastian Link, Manuel Menkhoff, Peter Zorn, July 27th, 2020). This column uses firm-level data on planned price changes by firms from a monthly survey covering all relevant sectors of the German economy to show that both demand and supply forces coexist, but that demand deficiencies dominate in the short run.

The U.S. Economy Was Laden With Debt Before Covid. That’s Bad News for a Recovery” (Wall Street Journal, Shane Shifflett, October 1st, 2020). The country entered the new recession with record levels of debt. Fourteen charts show how we got there—and what it means.

Pandemic will cause ‘lasting damage’ to living standards, IMF warns” (Financial Times, Chris Giles, October 13th, 2020). In its twice-yearly World Economic Outlook, the International Monetary Fund (IMF) explains how tourism and commodity-dependent economies will be hard-hit in ‘long, uneven’ recovery.


“In the business world, the rearview mirror is always clearer than the windshield.”, Warren Buffett

Research: Knowledge Workers Are More Productive from Home” (Harvard Business Review, Julian Birkinshaw, Jordan Cohen, Pawel Stach, August 31st, 2020). Lockdown has been positive for knowledge worker productivity in the short term. But it has also created some concerns and challenges around longer-term effectiveness, creativity, and personal resilience.

The Economic Effects of Working From Home” (Council On Foreign Relations, Anshu Siripurapu, July 16th, 2020). Remote work has been shown to increase worker productivity, but it can lead to isolation and stress as the line between work and home blurs.

Financing larger UK companies through COVID-19” (, Richard Button, Marek Rojicek, Matt Waldron, Danny Walker, September 7th, 2020). The spread of COVID-19 and the measures taken to contain it have led to a sharp fall in economic activity, which has put pressure on many companies’ cash flows. This column estimates a cash flow deficit summing to £135 billion for the 2020-21 financial year for mid-size and large UK companies.

The impact of travel restrictions on trade during the COVID-19 pandemic” (, Bength Soderlund, November 4th, 2020). This column explores the effect of business travelling time on trade using data from the liberalisation of Soviet air space in 1985, which radically reduced flight times between Europe and East Asia.


Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs.

Herbert Hoover […]


Good health is essential to social and economical development and it empowers all of the public sectors.

World Health Organization […]


Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.

Peter Drucker […]

Human Capital

Talent is a source from which water flows constantly renewed. But this source loses its value unless it is properly used.

Ludwig Wittgenstein […]