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Short-term, Medium- and Long-term Policies to Deal with the Impact of the Epidemic on the Economy

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DOI: 10.38007/Proceedings.0002080

Author(s)

Yuchen Wang

Corresponding Author

Yuchen Wang

Abstract

Abstract: The global COVID-19 pandemic and its economic impact will wreak havoc on all economies of the world, pushing many into recession and possibly even depression. The purpose of this paper is to examine short- and medium-to-long-term policies to deal with the economic impact of the epidemic. First, the existing research results at home and abroad are sorted out, and the classic theories with guiding significance for this article are sorted out as the theoretical basis of this article; secondly, taking the new crown epidemic as an example, the impact path is briefly explained, and the focus is on the analysis of the new crown epidemic short- and medium- and long-term policies in the context. Discuss the reform trend and optimization direction of tax preferential policies when similar major epidemics occur in the future. Based on the simulation study of the impact of the epidemic and the adjustment of policy implementation based on the computable general equilibrium model, statistics published on the website, and further research on the impact. In the early stage of the epidemic, GDP fell by 9.32%, and the income and consumption of residents gradually turned positive in the later period.

Keywords

Keywords: Epidemic Shock, Economic Policy, CGE Model, Macroeconomic Simulation