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COVID-19 economic impacts in perspective: A comparison to recent U.S. disasters

This paper places the COVID-19 pandemic into perspective by comparing it to other recent disasters in terms of impacts on the macroeconomy of the U.S. We present a short summary of advances in the state-of-the-art of economic consequence analysis, as well as estimates this approach yields on economi...

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Detalles Bibliográficos
Autor principal: Rose, Adam
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier Ltd. 2021
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9764161/
https://www.ncbi.nlm.nih.gov/pubmed/36570630
http://dx.doi.org/10.1016/j.ijdrr.2021.102317
Descripción
Sumario:This paper places the COVID-19 pandemic into perspective by comparing it to other recent disasters in terms of impacts on the macroeconomy of the U.S. We present a short summary of advances in the state-of-the-art of economic consequence analysis, as well as estimates this approach yields on economic impacts of 9/11, a variety of natural disasters, the Great Recession, and COVID-19. The prevention of these negative impacts represents the benefits of various types of risk management tactics and strategies. In light of the enormously greater economic impact of COVID-19 as compared to natural and man-made disasters, it is reasonable to question whether adequate investments are being made to prevent future pandemics.