{
  "title": "COVID-19 and Inequality in Asia: Breaking the Vicious Cycle",
  "publication": "IMF Working Papers, October 16, 2020",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2020/10/16/covid-19-and-inequality-in-asia-breaking-the-vicious-cycle-49807",
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  "summary": "The COVID-19 pandemic risks exacerbating inequality in Asia. High frequency labor surveys show that the pandemic is having particularly adverse effects on younger workers, women and people that are more vulnerable. Pandemics have been shown to increase inequalities.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Authors: Emilia M Jurzyk, Medha Madhu Nair, Nathalie Pouokam, Tahsin Saadi Sedik, Irina Yakadina\n- Publication date: October 16, 2020\n- Type: IMF Working Paper (Working Paper No. 2020/217)\n- Core message: The COVID-19 pandemic risks exacerbating inequality in Asia; without policies that break historical patterns, income inequality—already high and rising—is likely to rise further over the medium term."
    },
    {
      "heading": "Key findings",
      "content": "- The pandemic is having particularly adverse effects on:\n  - younger workers\n  - women\n  - people that are more vulnerable\n- Empirical and historical evidence: Pandemics have been shown to increase inequalities.\n- Pre-pandemic context: Income inequality in Asia was already high and rising before the pandemic.\n- Fiscal responses: Many Asian governments have implemented significant fiscal policy measures to mitigate the pandemic’s effect on the most vulnerable.\n- Effectiveness of fiscal measures depends on:\n  - initial coverage of safety nets\n  - fiscal space\n  - degree of informality\n  - degree of digitalization"
    },
    {
      "heading": "Model-based analysis",
      "content": "- The paper includes model-based analysis (Susceptible-Infected-Recovered Macro Model referenced in keywords).\n- Key model conclusion:\n  - Policies targeted to where needs are greatest are effective in mitigating adverse distributional consequences and in underpinning overall economic activity and virus containment."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Target fiscal policies to populations and sectors with the greatest need to:\n  - mitigate adverse distributional consequences\n  - support overall economic activity\n  - assist virus containment efforts\n- Design of policy responses should account for:\n  - existing safety net coverage\n  - available fiscal space\n  - informality in labor markets\n  - level of digitalization for delivery and targeting"
    },
    {
      "heading": "Subject areas and keywords",
      "content": "- Subject: Consumption, COVID-19, Education, Health, Income, Income inequality, Labor, National accounts\n- Keywords: Asia and Pacific, Consumption, coronavirus disease pandemic, COVID-19, Fiscal Policy, Fiscal Policy., Global, government-imposed lockdown, IMF staff calculation, Income inequality, Inequality, pandemic course, pandemic recession, Susceptible-Infected-Recovered Macro Model, WP\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2020/10/16/covid-19-and-inequality-in-asia-breaking-the-vicious-cycle-49807"
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    "Authors: Emilia M Jurzyk, Medha Madhu Nair, Nathalie Pouokam, Tahsin Saadi Sedik, Irina Yakadina",
    "Published: October 16, 2020",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781513559179.001",
    "Authors: Emilia M Jurzyk, Medha Madhu Nair, Nathalie Pouokam, Tahsin Saadi Sedik, Irina Yakadina",
    "Publication date: October 16, 2020",
    "Type: IMF Working Paper (Working Paper No. 2020/217)",
    "Core message: The COVID-19 pandemic risks exacerbating inequality in Asia; without policies that break historical patterns, income inequality—already high and rising—is likely to rise further over the medium term.",
    "The pandemic is having particularly adverse effects on:",
    "Empirical and historical evidence: Pandemics have been shown to increase inequalities.",
    "Pre-pandemic context: Income inequality in Asia was already high and rising before the pandemic.",
    "Fiscal responses: Many Asian governments have implemented significant fiscal policy measures to mitigate the pandemic’s effect on the most vulnerable.",
    "Effectiveness of fiscal measures depends on:",
    "The paper includes model-based analysis (Susceptible-Infected-Recovered Macro Model referenced in keywords).",
    "Key model conclusion:",
    "Target fiscal policies to populations and sectors with the greatest need to:",
    "Design of policy responses should account for:",
    "Subject: Consumption, COVID-19, Education, Health, Income, Income inequality, Labor, National accounts",
    "Keywords: Asia and Pacific, Consumption, coronavirus disease pandemic, COVID-19, Fiscal Policy, Fiscal Policy., Global, government-imposed lockdown, IMF staff calculation, Income inequality, Inequality, pandemic course, pandemic recession, Susceptible-Infected-Recovered Macro Model, WP",
    "**Working Paper**"
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