The economics of the COVID-19 pandemic: an assessment

"Blind men and an elephant": The need for animals in research, drug safety studies, and understanding civilizational diseases

Animal-based research and drug safety studies are essential to understanding the mysteries of nature and the long-term survival of humans. Due to the rapid increase in the global human population, conflict- and economically driven human migration, tourism-related activities, densely populated metropolitan areas, and local policies, humans will be affected by a multitude of novel disease-causing microorganisms and civilizational diseases. Despite disparities among countries, recent and planned changes in regulations concerning animal research and drug safety studies could have detrimental effects on both the animal research community and nations lacking sufficient social support systems. Based on existing scientific literature, I argue that we need animal research encompassing aspects such as animal development, behavior, drug safety studies, and for the understanding of future civilizational diseases. Depending on the nature of the research questions and local challenges, a suitable animal model organism should be made mandatory.

Examining the hedge performance of US dollar, VIX, and gold during the coronavirus pandemic: Is US dollar a better hedge asset?

This study utilizes the hedging potential of the U.S. Dollar Index (USDX) during the COVID-19 period, specifically comparing its positive effects on optimal portfolio weights and hedging ratios with those of traditional hedging assets, such as the VIX and gold. The scalar BEKK GARCH model is employed to forecast volatility and calculate hedging indicators. The results show that USDX exhibits strong hedging abilities against S&P 500 index volatility. These findings highlight the advantageous role of the USDX as a hedging instrument, particularly during periods of heightened market uncertainty, such as during the COVID-19 crisis. Despite the increased market volatility during the COVID-19 pandemic, the value of the optimal portfolio weights is stable and the volatility of the weights is significantly reduced, demonstrating the strength of the USDX's low risk and volatility in hedging against market fluctuations. Moreover, the increase in the hedge ratio indicates that more capital is allocated to hedging, reflecting the increased correlation between the USDX and S&P 500 index. These results emphasize the beneficial role of the USDX as a hedging instrument during times of elevated market uncertainty, such as during the COVID-19 crisis. Ultimately, USDX can provide valuable insights for market participants seeking effective hedging strategies.

Resilience, endogenous policy responses to COVID-19, and their impacts on farm performance

Policy measures aimed at containing the spread of the COVID-19 pandemic had unintended consequences on economic activities globally. In this study, we isolate and investigate the short-term partial impacts of six such measures on the farm and nonfarm incomes of agricultural households and examine the related resilience factors. Using Nigeria as a case study, we find that the COVID containment measures had mixed effects on farm and non-farm incomes in the short run. These varying effects are due to households' resilience and vulnerability factors, including land size, wealth, income diversification, involvement in processing activities, and reliance on hired labor. Our findings highlight the need for more targeted health crisis containment measures which consider the uniqueness, diversity, and regional heterogeneity of agriculture, especially the potential implications for farm viability.

Politics matters for individual attitudes toward vaccine donation: cross-national evidence from the United States and Taiwan

BACKGROUND

Vaccine equity has been a major concern during the COVID-19 pandemic. According to the principle of vaccine equity, donor countries should apply the criterion of needs to make decisions about vaccine donation instead of considering recipient countries' economic status. We examine whether people follow the same criterion or consider other factors to decide which country to donate vaccines and how many vaccines should be delivered.

METHODS

We conducted online surveys with the design of conjoint experiment in the United States and Taiwan in 2021. 1,532 American citizens and 1,587 Taiwanese citizens were interviewed. The respondents were broadly quota-matched to their respective demographic proportions on the dimensions of age, gender, and education. We estimated the average marginal component effects (AMCEs) of the conjoint attributes by using the OLS regression models with standard errors clustered at the respondent level.

RESULTS

15,320 and 15,870 decisions on vaccine donation generated by conjoint experiment respectively in the United States and Taiwan were included in the analysis. Both American and Taiwanese people tend to donate vaccines to countries that suffer severe consequences of COVID-19 and democracies compared to authoritarian countries. However, they are less willing to donate vaccines to those with higher levels of capability in response to COVID-19. Taiwanese people tend to donate vaccines to countries having formal diplomatic relations with Taiwan (AMCE 13.4%, 95% CI 11.8%-15.1%). Nonetheless, American people would rather donate vaccines to countries without formal diplomatic relations with the United States (AMCE - 4.0%, 95% CI -5.6%--2.4%).

CONCLUSIONS

The findings reveal that politics plays a significant role in people's decisions about vaccine donation. Under electoral pressure, political leaders must think about how to respond to the public's preferences over vaccine donation to achieve vaccine equity and address the global health crisis.

COVID-19 Vaccine Coverage in India: A District-Level Analysis

India implemented the largest COVID-19 vaccination drive in the world, through which it vaccinated the majority of its population. Lessons from the Indian COVID-19 vaccination experience can be invaluable for other LMICs as well as for preparedness for future outbreaks. Our study is designed to explore the factors associated with COVID-19 vaccination coverage in India at the district level. We used data from COVID-19 vaccination in India combined with several other administrative data to create a unique data set that facilitated a spatio-temporal exploratory analysis by uncovering the factors associated with vaccination rates across different vaccination phases and districts. We found evidence that past reported infection rates were positively correlated with COVID-19 vaccination outcomes. Past cumulative COVID-19 deaths as a proportion of district populations were associated with lower COVID-19 vaccination, but the percentage of past reported infection was positively correlated with first-dose COVID-19 vaccination, which might indicate a positive role of higher awareness created by a higher reported infection rate. Districts that on average had a higher population burden per health centre were likely to have lower COVID-19 vaccination rates. Vaccination rates were lower in rural areas relative to urban areas, whereas the association with literacy rate was positive. Districts with a higher percentage of children with complete immunisation were associated with higher COVID-19 vaccination, whereas low vaccination was observed in districts that had higher percentages of wasted children. COVID-19 vaccination was lower among pregnant and lactating women. Higher vaccination was observed among populations with higher blood pressure and hypertension (which were a few of the co-morbidities associated with COVID-19 infection).

Long-term effect of childhood pandemic experience on medical major choice: Evidence from the 2003 severe acute respiratory syndrome outbreak in China

This study examines the long-term effect of a pandemic on a crucial human capital decision, namely college major choice. Using China's 2008-2016 major-level National College Entrance Examination (Gaokao) entry grades, we find that the 2003 severe acute respiratory syndrome (SARS) had a substantial deterrent effect on the choice of majoring in medicine among high school graduates who experienced the pandemic in their childhood. In provinces with larger intensities of SARS impact, medical majors become less popular as the average Gaokao grades of enrolled students decline. Further evidence from a nationally representative survey shows that the intensity of the SARS impact significantly decreases children's aspirations to pursue medical occupations, but does not affect their parents' expectations for their children to enter the medical profession. Our discussion on the effect mechanism suggests that the adverse influence of SARS on the popularity of medical majors likely originates from students' childhood experiences.

Fiscal responses to COVID-19 outbreak for healthy economies: Modelling with big data analytics

Fiscal responses to the COVID-19 crisis have varied a lot across countries. Using a panel of 127 countries over two separate subperiods between 2020 and 2021, this paper seeks to determine the extent that fiscal responses contributed to the spread and containment of the disease. The study first documents that rich countries, which had the largest total and health-related fiscal responses, achieved the lowest fatality rates, defined as the ratio of COVID-related deaths to cases, despite having the largest recorded numbers of cases and fatalities. The next most successful were less developed economies, whose smaller total fiscal responses included a larger health-related component than emerging market economies. The study used a promising big data analytics technology, the random forest algorithm, to determine which factors explained a country's fatality rate. The findings indicate that a country's fatality ratio over the next period can be almost entirely predicted by its economic development level, fiscal expenditure (both total and health-related), and initial fatality ratio. Finally, the study conducted a counterfactual exercise to show that, had less developed economies implemented the same fiscal responses as the rich (as a share of GDP), then their fatality ratios would have declined by 20.47% over the first period and 2.59% over the second one.

Prevalence and correlates of burnout among Lebanese health care workers during the COVID-19 pandemic: a national cross-sectional survey

BACKGROUND

The COVID-19 pandemic has harshly burdened the healthcare systems. Health care workers (HCWs) are at substantial risk of infection and confronted several stressors as well leading them to experience burnout. This study aimed to assess the prevalence of burnout among Lebanese health HCWs and to identify its associated factors.

METHODS

A cross-sectional online survey was conducted between the first of November and the end of December 2020 among Lebanese HCWs working in all active hospitals operating across the country. Data were collected using an Arabic, anonymous, self-reported questionnaire comprising four sections: (a) basic sociodemographic characteristics, (b) exposure to COVID-19 covariates, (c) occupational factors, and (d) the measurements including the Copenhagen Burnout Inventory (CBI). CBI subscale cut-off score of 50 was used to assess the prevalence of burnout among HCWs. Multinomial logistic regression analyses were performed to examine the factors associated with the different aspects of burnout.

RESULTS

Out of the 1751 respondents, personal burnout (PB) was detected in its moderate and high-level aspects among 86.3% of Lebanese HCWs. Moderate and high levels of work-related burnout (WB), and client-related burnout (CB) hit 79.2% and 83.3% of HCWs, respectively. HCWs who were females, married, physicians, having a poor health status and specific living conditions (dependent child, elderly at home, family member with comorbidities, and a low income) were more likely to exhibit a high level of PB compared to no/low burnout level. Moreover, frontline HCWs, those infected by COVID-19 or those having a colleague infected by COVID-19, and those exhibiting a high perception of threat were more prone to experience a high-level PB rather than a low/no burnout. Working in a public hospital, extensive working hours, and insufficient sleeping hours were also found positively associated with high PB. However, older age and altruism were negatively associated with high PB compared to no/low PB among HCWs. As for WB, similar factors were found either positively or negatively associated with a high level of WB except health status and living conditions factors (dependent child or family member). As for CB, older age of HCWs (> 30 years) and altruism were negatively associated with high CB compared to no/low burnout level. However, working in the frontline, high threat perception, extensive working hours, insufficient sleeping hours, and low income were positively associated with high CB among HCWs compared to no/low burnout.

CONCLUSION

The prevalence of burnout among Lebanese HCWs during the pandemic was significant and alarming. Enacting and implementing preventive policies and effective interventions are urgently needed to cultivate wellness among HCWs.

The pox of politics: Troesken's tradeoff reexamined

In The Pox of Liberty, Werner Troesken details the tradeoff between liberal institutions and communicable disease. According to Troesken, individual freedom presents a danger to the public health in the face of infectious disease, while constitutional constraints restrict the government's ability to implement effective policy. Contra Troesken, I argue that decision-makers, amidst a crisis of contagion, neglect intertemporal tradeoffs, thereby discounting long run costs while favoring short run policies. These policies, once implemented, are difficult to reverse due to the path dependent nature of political institutions. Irreversible and self-reinforcing growth in political institutions established to enhance health can have an unintended negative impact on health during future crises, where political agents must operate in a more cumbersome and error-prone institutional environment. Using events from the history of public health in the U.S. as support for my theory, I conclude that Troesken's alleged tradeoff ought to be met with greater skepticism.

Support for bigger government: The principle-implementation gap and COVID-19

We study the COVID-19 pandemic's effect on government and market attitudes using within-subject comparisons of survey responses elicited before and after the onset of the pandemic. We find that participants develop significantly less favorable opinions toward government and markets; and that participants increase support for bigger government significantly and for redistribution, in general, marginally significantly. There is no evidence this leads to an increase in support for specific redistributive policies, nor for government to play a larger role in specific functions. Our results echo the stubbornness of American preferences for redistribution and suggest the presence of a principle-implementation gap.

On the economic impacts of COVID-19: A text mining literature analysis

The COVID-19 outbreak has affected everyday lives worldwide. As governments started to implement confinement and business closure measures, the economic impact was felt by entire societies immediately. The urgency of such a theme has led researchers to study the phenomenon. Accordingly, the purpose of this research is to provide the state of the art on relevant dimensions and hot topics of research to understand the economic impacts of COVID-19. In this survey, we conduct a text mining analysis of 301 articles published during 2020 which analyzed such economic impacts. By defining a set of relevant dimensions grounded on existing literature, we were able to extract a set of coherent topics that aggregate the collected articles, characterized by the predominance of a few sets of dimensions. We found that the impact on "financial markets" was widely studied, especially in relation to Asia. Next, we found a more diverse range of themes analyzed in Europe, from "government measures" to "macroeconomic variables." We also discovered that America has not received the same degree of attention, and "institutions," "Africa," or "other pandemics" were studied less. We anticipate that future research will proliferate focusing on several themes, from environmental issues to the effectiveness of government measures.

Impact of the COVID-19 Pandemic on China's Stock Market Volatility, During and After the Outbreak: Evidence From an ARDL Approach

Purpose

In this study, we empirically investigate the impact of the COVID-19 pandemic on China's stock price volatility during and after its initial outbreak, using time-series daily data covering the period from July to October, 2020 and 2021, respectively.

Design/Methodology/Approach

In the estimation, the ARDL bounds test approach was employed to examine the existence of co-integration and the relationship of long-run and short-run between the new infection rates and stock price volatility, as stable and unstable variables are mixed. The inner-day and inter-day volatility, based on the Shanghai (securities) composite index, are estimated in separate empirical models. In addition, the Inter-bank overnight lending rate (IBOLR) is controlled in order to consider the effect of liquidity and investment cost.

Findings and Implications

We find that in the initial year (2020) of the epidemic, the new infection rate is negatively correlated to stock prices in the short-term, whereas no significant evidence existed in the long-term, regardless of model specifications. However, after the epidemic's outbreak (2021), the result depicts that new infections increased stock prices in the long-term, and depressed its inner-day volatility in the short-term, which is inconsistent with most investigations. This phenomenon may be due to the fact that investors were more concerned about the withdrawal of monetary easing and fiscal stimulus, which were introduced to fight against the epidemic's impact on economy, than the epidemic itself. This study complements the limitations of most existing studies, which just focus on the period of the epidemic's outbreak, and provides insight into macroeconomic policy making in the era of the post COVID-19 epidemic such as the structural and ordered exit of the stimulating policies, intervention in IBOLR and balance social and economic sustainability.

Rules We Live by: How Religious Beliefs Relate to Compliance with Precautionary Measures Against COVID-19 in Tibetan Buddhists

The present studies investigated how particular religious beliefs shape compliance with preventive measures in adherents of Gelug and Nyingma schools of Tibetan Buddhism. In Study 1, Gelug and Nyingma monks were asked to report their compliance with various infection prevention measures surrounding COVID-19. Results showed that the former group showed higher compliance with public health guidelines than the latter. Extending beyond self-report measures, Study 2 added a behavioral outcome measure and observed the same effect. Together, our results provide the first empirical evidence that various Tibetan Buddhist traditions are related to different degrees of compliance with precautionary measures against COVID-19.

Prevention, treatment and potential mechanism of herbal medicine for Corona viruses: A review

The pandemic of coronavirus disease 2019 (COVID-19) caused by the SARS-coronavirus 2(SARS-CoV-2) virus has become the greatest global public health crisis in recent years,and the COVID-19 epidemic is still continuing. However, due to the lack of effectivetherapeutic drugs, the treatment of corona viruses is facing huge challenges. In thiscontext, countries with a tradition of using herbal medicine such as China have beenwidely using herbal medicine for prevention and nonspecific treatment of corona virusesand achieved good responses. In this review, we will introduce the application of herbalmedicine in the treatment of corona virus patients in China and other countries, andreview the progress of related molecular mechanisms and antiviral activity ingredients ofherbal medicine, in order to provide a reference for herbal medicine in the treatment ofcorona viruses. We found that herbal medicines are used in the prevention and fightagainst COVID-19 in countries on all continents. In China, herbal medicine has beenreported to relieve some of the clinical symptoms of mild patients and shorten the length of hospital stay. However, as most herbal medicines for the clinical treatment of COVID-19still lack rigorous clinical trials, the clinical and economic value of herbal medicines in theprevention and treatment of COVID-19 has not been fully evaluated. Future work basedon large-scale randomized, double-blind clinical trials to evaluate herbal medicines andtheir active ingredients in the treatment of new COVID-19 will be very meaningful.

Economic Uncertainty During COVID-19 Pandemic in Latin America and Asia

The purpose of this article is to analyze the impact of COVID-19 pandemic on inflation and exchange rate volatility and to study the government measures implemented in order to support economies. Based on monthly data from January to September 2020 for 10 countries, the dynamic panel data model is used to study the effect of COVID-19 spread. The results reveal that high infections negatively affect exchange rate and inflation; the responses of governments increase inflation and result in a lower exchange rate. In fact, providing health protocols which entered the countries into a new economic and financial crisis since economic agents could not freely engage in economic activities. Therefore, policy makers in both regions should invest in health infrastructure to improve the capacity of the national health system to resist the epidemic of contagious diseases.

Your pain, my gain: The relationship between self-report and behavioral measures of everyday sadism and COVID-19 vaccination intention

Vaccination plays a crucial role in containing the spread of the COVID-19 pandemic. However, a significant fraction of the global population is reluctant to take a coronavirus vaccine. A burgeoning literature has considered mainly adaptive personality traits as antecedents of vaccine hesitancy (i.e., Big Five and HEXACO), while maladaptive personality traits (i.e., "Dark Tetrad" of personality) are often a comparatively neglected area. In this research, we examined the relationship between everyday sadism and intention to get vaccinated against COVID-19. We theorized that driven by antisocial tendencies and social indifference, individuals with higher sadism may be less willing to obtain a vaccine. Employing a bug-killing paradigm to capture everyday sadism, we tested this prediction in a Chinese sample of non-student adults (N = 188). Support for this proposition was found in the lab task, which demonstrates that sadism was associated with more vaccine refusal spanning the self-report and behavioral domains. In addition, we showed that the sadistic behavioral choices can be predicted with self-report measure of sadistic personality. These findings highlight the important role of maladaptive personality traits in predicting vaccination attitudes and intentions.

Fiscal Success: Creating Quality Infrastructure in a Post-COVID World

Governments are engaged in unprecedented fiscal support, particularly regarding public infrastructure, as stimulus to economic recovery from the COVID-19 pandemic. It is a necessary response to increased unemployment and the collateral damage to consumer confidence and spending. Keeping people employed via nation-building projects, especially involving transport infrastructure, and their supply chains is a key objective and has the potential to deliver assets that support long-term productive capacity. Nevertheless, it is critical that public infrastructure is of appropriate quality to ensure projects are progressive, governments manage long-term benefits realization and critical resources are not wasted through hidden future liabilities. This research explores and discusses the extent of agreement between the G20 policy framework on quality infrastructure investment (process theory) against a leading project success evaluation method (process practice) by mapping both artefacts using qualitative content analysis. It is found that project success evaluation offers a ‘high’ thematic match against G20 policy ideals and therefore provides an opportunity for project managers to ensure investments in quality infrastructure are indeed realized. This contributes to progressive infrastructure outcomes that take into consideration financial, social, ethical and environmental consequences. Fiscal success is equated to project success in this context.

COVID-19 Pandemic Implications for Corporate Sustainability and Society: A Literature Review

The paper revises the ample empirical and theoretical literature on sustainable organizational growth and strategic leadership relating to the critical aspects of the ongoing pandemic, including poverty, social responsibility, public health, and organizational and managerial innovation. Drawing from available COVID-19, management, and sustainable leadership publications released from 2020 to 2021, this paper considers influential studies exploring core business concepts, principles, philosophies, and activities for accelerating, stimulating, and nurturing social and corporate sustainability. The study analyzed the characteristics and interrelation of 133 articles through bibliometric and literature systemization techniques. We shed light on the significant influence COVID-19 has had on financial, operational, and psychological solvency and organizational health to elucidate expectations and implications for businesses worldwide concerning the long-term financial and functional impact of COVID-19. An overview of the relevant studies on the individual, organizational, and external factors relating to novel disease's relation to sustainability are provided. We emphasize the need for digital transformation following the COVID-19 upheaval and throughout the upcoming years. Some of the generally employed techniques in response to adversity entail portfolio diversification, service delivery innovation, product redesigning, new market development, partnering with competitors and/or complementary service providers, synergizing with other stakeholders, and open innovation.

From federal transfers and local investments to a potential convergence of COVID-19 and climate change: The case study of São Paulo city

This paper is divided into two parts to explore some aspects of municipal development related to national and subnational investments in disaster risk reduction and urban sustainability related to Covid-19 and climate change response. In Part I, a survey on disasters and national transfers to 45 Brazilian municipalities is presented. In Part II, the local-scale approach enabled to compare the areas most affected by COVID-19 with those impacted by climate change. There are large uncertainties around financial support from the federal government and their impact at local scale. São Paulo city was chosen because it reveals some important aspects of spatial structure carried out through local investments. In this sense, updated information on floods and warmer surfaces were updated to provoke a discussion about a potential confluence with the effects of pandemic. The results highlighted the effects of scarce federal transfers and the maps help us to identify the spatial distribution of people at risk, which can be beneficial for municipal decisions as they highlight a significative relationship between pandemic effects and an uneven social structure. In conclusion, the trade-off between this unequal structure and a necessary and effectively sustainable change leads us to reflect on local investment trends.

Sustainable economic development in the European Union and COVID-19

The paper has two basic objectives. The first, is to present the evolution of the process of sustainable development in the European Union (EU). We provide evidence that over time, the concept of sustainable development as a broad policy objective has been steadily declining in importance giving way to the less multidimensional strategy of green growth. We argue that the green growth strategy is actually based on the strategic selection of the traditional economic growth model, taking into account certain environmental aspects. We show that environmental protection expenditure is growing much slower than per capita income. Looking at the investment on environmental protection, we document a clear falling trend. Our findings imply that both the social and the environmental dimension of sustainability have been losing ground and the traditional goal of economic growth is being restored. The second, is to provide some assessment of the impact of the coronavirus pandemic on the process of sustainable development in the EU. Considering the relevant EU forecasts on the immediate effects of the pandemic, we conclude that it will severely hinder the process of sustainability in the EU in the short term. The long-term effects of the pandemic cannot even be outlined, especially at the level of the individual member states. Nevertheless, the effectiveness of the Recovery and Resilience Facility as key instrument of recovery and of national recovery and resilience plans, will play a decisive role in minimising or even neutralising the negative longer-term effects of the coronavirus pandemic.

Mental health in Lebanon: Tomorrow's silent epidemic

Lebanon is a middle-income country that has been recently crippled by several tragedies including the economic collapse, COVID-19, and the fourth of August Beirut port explosion, the world's most powerful non-nuclear explosion of the twenty-first century. Recent data on mental health from Lebanon is summarised, and other topics such as the psychological impact of cumulative adversities and the role of international support in Lebanon are examined. Data from Lebanon shows severe levels of distress among the people, in a country with minimal resources. Given current adversities in Lebanon, recent data in the country, and the literature on adversity and mental health outcomes of man-made disasters, Lebanon is most likely going to face an epidemic in poor mental health. A call is made for the wider scientific community and international organizations to support the mental health field in the country and help prevent further negative mental health outcomes. Understanding how to better navigate mental health in places with extreme adversity and emergencies can be beneficial to other communities which might face similar challenges.

Estimating the effect of COVID-19 epidemic on shipping trade: An empirical analysis using panel data

The unexpected outbreak of COVID-19 epidemic is an unpredictable event in shipping trade. In this paper, we mainly investigate the gaps that occur in the shipping trade between China and different regions during the period February-October 2020 and to provide useful information for operation management of shipping industry. The data include a panel obtained from the National Statistics Institute to analyze the gap where a selected group of shipping trade in three regions are considered: European Union, North America, and Southeast Asia. On this basis, a dynamic panel data model is proposed to estimate the trend. We observe that government prevention and control measures have a negative impact on export trade, while import trade increases accordingly.

COVID-19 and stock exchange return variation: empirical evidences from econometric estimation

This research looked at the effects of COVID-19 on a number of the world's most important stock exchanges, as well as the empirical relation between the COVID-19 wave and stock market volatility. In order to plan proper portfolio diversification in international financial markets, researchers must examine COVID-19 anxiety in relation to stock market volatility. The stock market volatility connected with the COVID-19 pandemic was measured using AR(1)-GARCH(1,1). COVID-19 fear, according to our research, is the ultimate driver of public attention and stock market volatility. The findings show that throughout the pandemic, stock market performance and GDP growth both declined significantly due to average increases. Furthermore, a 1% increase in COVID-19 causes a 0.8% and 0.56% decline in stock return and GDP, respectively. The stock market, on the other hand, showed a slight movement in GDP growth. Furthermore, the COVID-19 pandemic reported cases index, death index, and global panic index all influenced public perceptions of purchasing and selling. As a result, rather than investing in stocks, it is recommended that you invest in gold. The research also makes policy recommendations for important stakeholders. We look to examine how stock returns respond dynamically to unanticipated changes in the COVID-19 scenarios, as well as the uncertainty that comes with a pandemic. Using daily data from Canada and the USA, we conclude that a spike in COVID-19 instances has a negative impact on the stock market in general. Furthermore, in both the increase and decline scenarios in Canada, the stock return reactions are asymmetric. The disparity is due to the unfavorable impact of the pandemic's unpredictability. We also discovered that uncertainty had a negative impact on the US stock market. The magnitude, however, is insignificant.

Observing the silent world under COVID-19 with a comprehensive impact analysis based on human mobility

Since spring 2020, the human world seems to be exceptionally silent due to mobility reduction caused by the COVID-19 pandemic. To better measure the real-time decline of human mobility and changes in socio-economic activities in a timely manner, we constructed a silent index (SI) based on Google's mobility data. We systematically investigated the relations between SI, new COVID-19 cases, government policy, and the level of economic development. Results showed a drastic impact of the COVID-19 pandemic on increasing SI. The impact of COVID-19 on human mobility varied significantly by country and place. Bi-directional dynamic relationships between SI and the new COVID-19 cases were detected, with a lagging period of one to two weeks. The travel restriction and social policies could immediately affect SI in one week; however, could not effectively sustain in the long run. SI may reflect the disturbing impact of disasters or catastrophic events on the activities related to the global or national economy. Underdeveloped countries are more affected by the COVID-19 pandemic.

Impacts of COVID-19 pandemic on the global energy system and the shift progress to renewable energy: Opportunities, challenges, and policy implications

Being declared a global emergency, the COVID-19 pandemic has taken many lives, threatened livelihoods and businesses around the world. The energy industry, in particular, has experienced tremendous pressure resulting from the pandemic. In response to such a challenge, the development of sustainable resources and renewable energy infrastructure has demonstrated its potential as a promising and effective strategy. To sufficiently address the effect of COVID-19 on renewable energy development strategies, short-term policy priorities should be identified, while mid-term and long-term action plans should be formulated in achieving the well-defined renewable energy targets and progress towards a more sustainable energy future. In this review, opportunities, challenges, and significant impacts of the COVID-19 pandemic on current and future sustainable energy strategies were analyzed in detail; while drawing from experiences in identifying reasonable behaviors, orientating appropriate actions, and policy implications on the sustainable energy trajectory were also mentioned. Indeed, the question is that whether the COVID-19 pandemic will kill us or provide us with a precious lesson on future sustainable energy development.

The Impact of the COVID-19 Pandemic on Social, Health, and Economy

In late December 2019, a series of acute atypical respiratory disease occurred in Wuhan, China, which rapidly spread to other areas worldwide. It was soon discovered that a novel coronavirus was responsible, named the severe acute respiratory syndrome coronavirus-2 (SARS-CoV-2, 2019-nCoV). The impact of the COVID-19 pandemic on the population’s health is unprecedented in recent years and the impact on a social level even more so. The COVID-19 pandemic is the most large-scale pandemic on earth this century, and the impact in all life sectors is devasting and directly affected human activity in the first wave. The impact on the economy, social care systems, and human relationships is causing an unprecedented global crisis. SARS-CoV-2 has a strong direct acute impact on population health, not only at the physiological level but also at the psychological level for those who suffer it, those close to them, and the general population, who suffer from the social consequences of the pandemic. In this line, the economic recession increased, even more, the social imbalance and inequity, hitting the most vulnerable families, and creating a difficult context for public institutions to address. We are facing one of the greatest challenges of social intervention, which requires fast, effective, and well-coordinated responses from public institutions, the private sector, and non-governmental organizations to serve an increasingly hopeless population with increasingly urgent needs. Long-term legislation is necessary to reduce the vulnerability of the less fortunate, as well as to analyze the societal response to improve the social organization management of available resources. Therefore, in this scoping review, a consensus and critical review were performed using both primary sources, such as scientific articles, and secondary ones, such as bibliographic indexes, web pages, and databases. The main search engines were PubMed, SciELO, and Google Scholar. The method was a narrative literature review of the available literature. The aim was to assess the effects of the COVID-19 pandemic on population health, where the possible interventions at the health level are discussed, the impact in economic and social areas, and the government and health systems interventions in the pandemic, and finally, possible economic models for the recovery of the crisis are proposed.

Feeling Uncertainty during the Lockdown That Commenced in March 2020 in Greece

The coronavirus disease 2019 (COVID-19) pandemic has resulted in significant uncertainty for the global population. However, since not all population groups experience the impacts of the pandemic in the same way, the objective of this study was to identify the individual characteristics associated with the feeling of uncertainty during the lockdown that commenced in March 2020 in Greece. The study used data from the "Public Opinion in the European Union (EU) in Time of Coronavirus Crisis" survey. The sample consisted of 1050 individuals aged between 16 and 54 years. According to the analysis, which was based on a logistic regression model, the emotional status of older individuals, those who experienced income and job losses since the beginning of the pandemic, and middle-class and high-class individuals, is more likely to be described as a feeling of uncertainty. In addition, the emotional status of individuals with less concern for their own health and that of family and friends is less likely to be described as a feeling of uncertainty. Although the results related to age, income, and job losses, as regards concern for health, agree with the international literature, the limited health literacy of lower-class individuals may explain the reduced likelihood of their experiencing feelings of uncertainty. The results confirm the international literature describing several aspects of uncertainty due to the COVID-19 crisis.

A cross-sectional population-based study on the influence of the COVID-19 pandemic on incomes in Greece

The Coronavirus Disease 2019 (COVID-19) pandemic induced economic shock in Greece, which translated into a decrease in household income. Thus, the objective of this study is to measure social inequality with regard to income loss due to the COVID-19 pandemic in Greece. In addition, we aim to identify the characteristics of those experiencing income loss due to the pandemic. The study uses data from the "Public Opinion in the European Union (EU) in Time of Coronavirus Crisis. Third Round" survey. The sample consists of 1036 individuals aged between 16 and 54 years. To measure inequality, the Erreygers' Concentration Index (CI) is calculated, using social class as the ranking variable. To identify the characteristics of those experiencing income loss, a logistic regression model is fitted using the region of residence and several demographic and socioeconomic variables as potential predictors. According to the results, social inequality does not exist with regard to income loss due to the COVID-19 pandemic. Thus, our findings indicate the negative influence of the pandemic on the incomes of individuals from all social classes in Greece. According to the results of the logistic regression model, the odds of experiencing income loss are higher for residents of the Aegean Islands and Crete but also for self-employed, part-time employed, and unemployed individuals. These findings indicate the negative influence of the pandemic on Greek tourism and on sectors employing a large proportion of non-standard workers. Although inequality does not exist, a substantial proportion of those losing income due to the pandemic is in line with the global picture.

Severity of the COVID-19 pandemic in India

The main objective of this study is to identify the socioeconomic, meteorological, and geographical factors associated with the severity of COVID-19 pandemic in India. The severity is measured by the cumulative severity ratio (CSR)-the ratio of the cumulative COVID-related deaths to the deaths in a pre-pandemic year-its first difference and COVID infection cases. We have found significant interstate heterogeneity in the pandemic development and have contrasted the trends of the COVID-19 severities between Maharashtra, which had the largest number of COVID deaths and cases, and the other states. Drawing upon random-effects models and Tobit models for the weekly and monthly panel data sets of 32 states/union territories, we have found that the factors associated with the COVID severity include income, gender, multi-morbidity, urbanization, lockdown and unlock phases, weather including temperature and rainfall, and the retail price of wheat. Brief observations from a policy perspective are made toward the end.

Training the Next Industrial Engineers and Managers about Industry 4.0: A Case Study about Challenges and Opportunities in the COVID-19 Era

Training the next generation of industrial engineers and managers is a constant challenge for academia, given the fast changes of industrial technology. The current and predicted development trends in applied technologies affecting industry worldwide as formulated in the Industry 4.0 initiative have clearly emphasized the needs for constantly adapting curricula. The sensible socioeconomic changes generated by the COVID-19 pandemic have induced significant challenges to society in general and industry. Higher education, specifically when dealing with Industry 4.0, must take these new challenges rapidly into account. Modernization of the industrial engineering curriculum combined with its migration to a blended teaching landscape must be updated in real-time with real-world cases. The COVID-19 crisis provides, paradoxically, an opportunity for dealing with the challenges of training industrial engineers to confront a virtual dematerialized work model which has accelerated during and will remain for the foreseeable future after the pandemic. The paper describes the methodology used for adapting, enhancing, and evaluating the learning and teaching experience under the urgent and unexpected challenges to move from face-to-face university courses distant and online teaching. The methodology we describe is built on a process that started before the onset of the pandemic, hence in the paper we start by describing the pre-COVID-19 status in comparison to published initiatives followed by the real time modifications we introduced in the faculty to adapt to the post-COVID-19 teaching/learning era. The focus presented is on Industry 4.0. subjects at the leading edge of the technology changes affecting the industrial engineering and technology management field. The manuscript addresses the flow from system design subjects to implementation areas of the curriculum, including practical examples and the rapid decisions and changes made to encompass the effects of the COVID-19 pandemic on content and teaching methods including feedback received from participants.

COVID-19 lockdowns and demographically-relevant Google Trends: A cross-national analysis

The spread of COVID-19 and resulting local and national lockdowns have a host of potential consequences for demographic trends. While impacts on mortality and, to some extent, short-term migration flows are beginning to be documented, it is too early to measure actual consequences for family demography. To gain insight into potential future consequences of the lockdown for family demography, we use cross-national Google Trends search data to explore whether trends in searches for words related to fertility, relationship formation, and relationship dissolution changed following lockdowns compared to average, pre-lockdown levels in Europe and the United States. Because lockdowns were not widely anticipated or simultaneous in timing or intensity, we exploit variability over time and between countries (and U.S. states). We use a panel event-study design and difference-in-differences methods, and account for seasonal trends and average country-level (or state-level) differences in searches. We find statistically significant impacts of lockdown timing on changes in searches for terms such as wedding and those related to condom use, emergency contraception, pregnancy tests, and abortion, but little evidence of changes in searches related to fertility. Impacts for union formation and dissolution tended to only be statistically significant at the start of a lockdown with a return to average-levels about 2 to 3 months after lockdown initiation, particularly in Europe. Compared to Europe, returns to average search levels were less evident for the U.S., even 2 to 3 months after lockdowns were introduced. This may be due to the fact, in the U.S., health and social policy responses were less demarcated than in Europe, such that economic uncertainty was likely of larger magnitude. Such pandemic-related economic uncertainty may therefore have the potential to slightly increase already existing polarization in family formation behaviours in the U.S. Alongside contributing to the wider literature on economic uncertainty and family behaviors, this paper also proposes strategies for efficient use of Google Trends data, such as making relative comparisons and testing sensitivity to outliers, and provides a template and cautions for their use in demographic research when actual demographic trends data are not yet available.

Housing Market in the Time of Pandemic: A Price Gradient Analysis from the COVID-19 Epicentre in China

While the outbreak of the COVID-19 disease has caused asset markets to experience an unprecedented spike of risk and uncertainty worldwide, the real estate market in many global cities appears to be immune to the adverse effects. How does COVID-19 affect urban housing markets? This study is a first attempt to identify the pandemic’s impact on house prices by applying a price gradient analysis to the COVID-19 epicentre in China. Considering microlevel housing transaction data in 62 areas from nine districts in Wuhan City from January 2019 to July 2020, the hedonic pricing and the price gradient models suggest that there was, respectively, a 4.8% and a 5.0–7.0% year-on-year fall in house prices immediately after the pandemic outbreak. Although house prices rebounded after the lockdown period, the gradient models show that the price gradients were flattened from the epicentre to the urban peripherals. The price premiums in high-density areas were also substantially discounted after the city’s lockdown. Our findings are robust to different model specifications. The implication is that the risk associated with the pandemic is localised and transitory in nature. People may be able to internalise the risk by residing in low-density residential areas.

Learning versus habit formation: Optimal timing of lockdown for disease containment

We analyze a model where the government has to decide whether to impose a lockdown in a country to prevent the spread of a possibly virulent disease. If the government decides to impose a lockdown, it has to determine its intensity, timing and duration. We find that there are two competing effects that push the decision in opposite directions. An early lockdown is beneficial not only to slow down the spread of the disease, but creates beneficial habit formation (such as social distancing, developing hygienic habits) that persists even after the lockdown is lifted. Against this benefit of an early lockdown, there is a cost from loss of information about the virulence and spread of the disease in the population in addition to a direct cost to the economy. Based on the prior probability of the disease being virulent, we characterize the timing, intensity and duration of a lockdown with the above mentioned tradeoffs. Specifically, we show that as the precision of learning goes up, a government tends to delay the imposition of lockdown. Conversely, if the habit formation parameter is very strong, a government is likely to impose an early lockdown.

COVID-19 and Quality of Life: Twelve Reflections

COVID-19 has severely affected the world since December 2020. Because of its sudden onset and highly contagious nature, the world has responded in a "crisis management" manner. With effective vaccines almost available, it is appropriate at this time to have some reflections about COVID-19 in relation to the quality of life issues. In this paper, we highlight twelve issues for reflection, which can help us better prepared for future pandemics. These include: digital divide, health inequality, gender inequality, economic disadvantage, family well-being, impact on holistic well-being, economic development versus saving lives, consumption versus environmental protection, individual rights versus collective rights, international collaboration versus conflict, prevention of negative well-being, and promotion of positive well-being.