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Pandemics, Climate and Public Finance

How to Strengthen Socio-Economic Resilience across Policy Domains

Stefano Battiston    Università Ca’ Foscari Venezia, Italia; University of Zurich, Swiss    

Monica Billio    Università Ca’ Foscari Venezia, Italia    

Irene Monasterolo    Vienna University of Economics and Business, Austria; Boston University’s Global Development Policy Initiative, US; University of Zurich, Switzerland

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abstract

The outbreak of COVID-19 and the containment measures are having an unprecedented socio-economic impact in the European Union (EU) and elsewhere. The policies introduced so far in the EU countries promote a ‘business as usual’ economic recovery. This short-term strategy may jeopardise the mid-to-long-term sustainability and financial stability objectives. In contrast, strengthening the socio-economic resilience against future pandemics, as well as other shocks, calls for recovery measures that are fully aligned to the objectives of the EU Green Deal and of the EU corporate taxation policy. Tackling these long-term objectives is not more costly than funding the current short-term measures. Remarkably, it may be the only way to build resilience to future crises.

Pubblicato
31 Luglio 2020
Accettato
30 Giugno 2020
Presentato
03 Giugno 2020
Lingua
EN
ISBN (EBOOK)
978-88-6969-442-4

Keywords: ResiliencePublic debt sustainabilityFiscal inequalityPolicy complementarityCOVID-19Climate changeGreen Deal

Copyright: © 2020 Stefano Battiston, Monica Billio, Irene Monasterolo. This is an open-access work distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction is permitted, provided that the original author(s) and the copyright owner(s) are credited and that the original publication is cited, in accordance with accepted academic practice. The license allows for commercial use. No use, distribution or reproduction is permitted which does not comply with these terms.