This week’s IGM European Economic Experts Panel statements:
A) Right now, the central focus of fiscal policy should be on temporary measures to provide protection and promote rapid economic recovery rather than trying to advance other objectives, such as reducing debt, tackling climate change or addressing inequality.
B) Cutting taxes on firms (or delaying tax collection) will allow more of them to survive and be more effective than public spending for triggering a rapid economic recovery.
C) European recovery fund disbursements to crisis-hit countries should be primarily in the form of grants rather than loans.
D) European recovery fund disbursements to crisis-hit countries should not be made on condition of commitments to reform by recipients.
Keyword: Coronavirus
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This week’s IGM European Economic Experts Panel statements:
A) Given the social and regulatory pressures to keep prices down for drugs and vaccines to treat Covid-19, the financial incentives for pharmaceutical companies to invest in such products are below the value of the investment to society.
B) Government commitments to pay developers and manufacturers above average costs for an effective vaccine or drug treatments for Covid-19 would accelerate production.
C) Given the positive externalities from vaccination, an effective Covid-19 vaccine should have priority in public healthcare funding even in countries where other diseases cause more death and disability.
This week’s IGM Economic Experts Panel statements:
A) Given the social and regulatory pressures to keep prices down for drugs and vaccines to treat Covid-19, the financial incentives for pharmaceutical companies to invest in such products are below the value of the investment to society.
B) Government commitments to pay developers and manufacturers above average costs for an effective vaccine or drug treatments for Covid-19 would accelerate production.
C) Given the positive externalities from vaccination, an effective Covid-19 vaccine should be mandatory for every US resident (except those with health exceptions, such as infants and people with compromised immunity) with the cost covered by the federal government.
This week’s IGM Economic Experts Panel statements:
A) Clearing the market for surgical face masks using prices is detrimental to the public good.
B) Laws to prevent high prices for essential goods in short supply in a crisis would raise social welfare.
C) Governments should buy essential medical supplies at what would have been the market price and redistribute according to need rather than ability to pay.
This week’s IGM European Economic Experts Panel statements:
A) Clearing the market for surgical face masks using prices is detrimental to the public good.
B) Laws to prevent high prices for essential goods in short supply in a crisis would raise social welfare.
C) Governments should buy essential medical supplies at what would have been the market price and redistribute according to need rather than ability to pay.
This week’s IGM Economic Experts Panel statements:
A) Assuming that additional federal spending were to be structured as in the CARES Act, a substantial further spending program now will ultimately be less costly than a smaller program because it will better help to avoid long-term economic damage and promote a stronger recovery.
B) Having a fiscal rule that increases social spending on programs like unemployment insurance and SNAP based on the conditions of the economy would be an improvement on the discretionary way in which these programs are currently operated.
This week’s IGM Economic Experts Panel statements:
A) Economic damage from the virus and lockdowns will ultimately fall disproportionately hard on low- and middle-income countries.
B) A temporary standstill on sovereign debt payments by low- and middle-income countries to all official and private creditors to give those countries space to cover the immediate costs of the crisis would benefit advanced economies.
C) Export restrictions on food and medical supplies, and other protectionist measures, are likely to cost lives and slow economic recovery in all countries.
This week’s IGM European Economic Experts Panel statements:
A) Economic damage from the virus and lockdowns will ultimately fall disproportionately hard on low- and middle-income countries.
B) A temporary standstill on sovereign debt payments by low- and middle-income countries to all official and private creditors to give those countries space to cover the immediate costs of the crisis would benefit advanced economies.
C) Export restrictions on food and medical supplies, and other protectionist measures, are likely to cost lives and slow economic recovery in all countries.
This week’s IGM Economic Experts Panel statements:
A) Current institutional arrangements mean that small firms will be able to renegotiate with creditors and landlords to avoid bankruptcy during the lockdown.
B) A program that allows small businesses to skip rent and utilities during the lockdown, but repay them slowly over time afterwards, would be a net benefit to the economy.
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