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Autor:innen: 
Erscheinungsjahr: 
2020
Schriftenreihe/Nr.: 
UNU-MERIT Working Papers No. 2020-057
Verlag: 
United Nations University (UNU), Maastricht Economic and Social Research Institute on Innovation and Technology (UNU-MERIT), Maastricht
Zusammenfassung: 
In 2021 lockdowns still will be necessary to keep COVID-19 in check world-wide. Vaccination might bring sufficient coverage by the end of 2021 for some countries. Priorities in the re-emergence of economies should be for sustainability, health, education, full employment and social cohesion to preserve long-term welfare. Pressures on Government budgets are going to rise in view of the unprecedented high public debt to GDP ratio world-wide. Increased taxation of wealth and of the top 10%-income-group is a superior strategy compared to retrenchment (budget cuts in health, education and social expenditures). International cooperation is top priority. This applies to health, but also to economic and monetary policy: it can lift economic growth in the G20 countries over the short and long run by at least one third. The resumption of trade should be guided by rewarding the achievement of social goals and realizing sustainability. In this way the level playing field is restored for those countries which want to contribute to a sustainable world and to cooperation. International taxation rules for profits should prevent tax havens to make this a negative sum game. This would give developing countries some of the necessary breathing space to re-emerge from the COVID-19 crisis.
Schlagwörter: 
COVID-19
employment
economic development
environmental sustainability
social cohesion
education
health
monetary policy
long-term interest rates
conditionalities
taxation
stock market
JEL: 
I00
J20
H63
H74
O38
O40
O43
O44
E62
E43
Q58
F18
F23
O52
R30
I25
F30
G15
H25
H87
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Dokumentart: 
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