Product details

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Abstract

First emerging in China in early January 2020, the lethal COVID-19 virus quickly spread throughout Europe and to the US east coast, with New York City as the epicenter. In March the World Health Organization declared COVID-19 a global pandemic. Policy makers agreed that a vaccine would be necessary to control the virus, however, interim measures would be necessary until a safe vaccine could be developed, manufactured and distributed. The key initiatives undertaken in 'flattening the curve' of the virus's spread included voluntary social distancing, frequent sanitation of hands and surfaces, and, in some instances, mandatory lockdowns. These measures forced many businesses to operate at limited capacity and also reduced the supply of some inputs such as labor. By December 2020 several vaccines had been developed and the world awaited mass distribution, while thousands of people continued to succumb to COVID-19 every day. In this environment, despite regulatory, monetary, and fiscal responses to the crisis, there was both uncertainty about the short-run path to economic recovery as well as the long-term impact of COVID-19 for the global economy.

Teaching and learning

This item is suitable for undergraduate and postgraduate courses.

Time period

The events covered by this case took place in 2020.

Geographical setting

Region:
Americas
Country:
United States

About

Abstract

First emerging in China in early January 2020, the lethal COVID-19 virus quickly spread throughout Europe and to the US east coast, with New York City as the epicenter. In March the World Health Organization declared COVID-19 a global pandemic. Policy makers agreed that a vaccine would be necessary to control the virus, however, interim measures would be necessary until a safe vaccine could be developed, manufactured and distributed. The key initiatives undertaken in 'flattening the curve' of the virus's spread included voluntary social distancing, frequent sanitation of hands and surfaces, and, in some instances, mandatory lockdowns. These measures forced many businesses to operate at limited capacity and also reduced the supply of some inputs such as labor. By December 2020 several vaccines had been developed and the world awaited mass distribution, while thousands of people continued to succumb to COVID-19 every day. In this environment, despite regulatory, monetary, and fiscal responses to the crisis, there was both uncertainty about the short-run path to economic recovery as well as the long-term impact of COVID-19 for the global economy.

Teaching and learning

This item is suitable for undergraduate and postgraduate courses.

Settings

Time period

The events covered by this case took place in 2020.

Geographical setting

Region:
Americas
Country:
United States

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