Proceedings of the 8th International Conference on Financial Innovation and Economic Development (ICFIED 2023)

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The Impacts of COVID-19 on Different Economic Entities in North America

Authors
Shan Zhong1, *
1University of California, Santa Barbara, USA
*Corresponding author. Email: shawnzhong1230@outlook.com
Corresponding Author
Shan Zhong
Available Online 15 May 2023.
DOI
10.2991/978-94-6463-142-5_22How to use a DOI?
Keywords
COVID-19; Central bank; Firm; Government; Monetary policy; Fiscal policy
Abstract

COVID-19 has had a significant impact on different economies. The rapid and dramatic impact of the pandemic and the economic shutdown caused by health prevention and control measures have plunged the world economy into a severe contraction. The virus spread would also increase global debt risks, raise housing and commodity prices and add to inflationary pressures. It would be the worst recession since the Second World War. The impact of COVID-19 will be different for different economic entities because different entities will have different but disparate responses to the coronavirus. For example, banks can adopt the monetary policy, but businesses cannot. Therefore, by summarizing economists’ research on the impact of COVID-19 on different economic entities, such as central banks, governments, companies, and individuals, and pointing out future research directions, countries may find ways to recover their economies faster.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 8th International Conference on Financial Innovation and Economic Development (ICFIED 2023)
Series
Advances in Economics, Business and Management Research
Publication Date
15 May 2023
ISBN
978-94-6463-142-5
ISSN
2352-5428
DOI
10.2991/978-94-6463-142-5_22How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Shan Zhong
PY  - 2023
DA  - 2023/05/15
TI  - The Impacts of COVID-19 on Different Economic Entities in North America
BT  - Proceedings of the 8th International Conference on Financial Innovation and Economic Development (ICFIED 2023)
PB  - Atlantis Press
SP  - 196
EP  - 201
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-142-5_22
DO  - 10.2991/978-94-6463-142-5_22
ID  - Zhong2023
ER  -