Publication: Welfare resilience at the onset of the COVID-19 pandemic in a selection of European countries: Impact on public finance and household incomes
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Date
2021-07-01
Authors
Cantó, Olga
Figari, Francesco
Fiorio, Carlo V.
Kuypers, Sarah
Marchal, Sarah
Tasseva, Iva V.
Verbist, Gerlinde
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Access rights
info:eu-repo/semantics/openAccess
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Publisher
Wiley
Abstract
This paper assesses the impact on household incomes of the COVID-19 pandemic and governments’ policy responses in April 2020 in four large and severely hit EU countries: Belgium, Italy, Spain and the UK. We provide comparative evidence on the level of relative and absolute welfare resilience at the onset of the pandemic, by creating counterfactual scenarios using the European tax-benefit model EUROMOD combined with COVID-19-related household surveys and timely labor market data. We find that income poverty increased in all countries due to the pandemic while inequality remained broadly the same. Differences in the impact of policies across countries arose from four main sources: the asymmetric dimension of the shock by country, the different protection offered by each tax-benefit system, the diverse design of discretionary measures and differences in the household level circumstances and living arrangements of individuals at risk of income loss in each country.
Description
This is the peer reviewed version of the following article: Cantó, O., Figari, F., Fiorio, C.V., Kuypers, S., Marchal, S., Romaguera-de-la-Cruz, M., Tasseva, I.V., & Verbist, G. (2022). Welfare resilience at the onset of the COVID-19 pandemic in a selection of European countries: Impact on public finance and household incomes. Review of Income and Wealth, 68(2), 293- 322, which has been published in final form at https://doi.org/10.1111/roiw.12530. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions. This article may not be enhanced, enriched or otherwise transformed into a derivative work, without express permission from Wiley or by statutory rights under applicable legislation. Copyright notices must not be removed, obscured or modified. https://doi.org/10.1111/roiw.12530.
Esta es la versión revisada por pares del siguiente artículo: Cantó, O., Figari, F., Fiorio, C.V., Kuypers, S., Marchal, S., Romaguera-de-la-Cruz, M., Tasseva, I.V., & Verbist, G. (2022). Resiliencia del bienestar al inicio de la pandemia de COVID-19 en una selección de países europeos: Impacto en las finanzas públicas y los ingresos de los hogares. Review of Income and Wealth, 68(2), 293-322, que se ha publicado en su forma final en https://doi.org/10.1111/roiw.12530. Este artículo puede ser utilizado para fines no comerciales de acuerdo con los Términos y Condiciones de Uso de Versiones Autoarchivadas de Wiley. Este artículo no puede ser mejorado, enriquecido o transformado de otro modo en una obra derivada, sin el permiso expreso de Wiley o por derechos legales en virtud de la legislación aplicable. Los avisos de derechos de autor no deben eliminarse, oscurecerse ni modificarse. https://doi.org/10.1111/roiw.12530
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Keywords
COVID-19, household incomes, tax-benefit microsimulation, income protection, cross-country comparison
Citation
Cantó, O., Figari, F., Fiorio, C.V., Kuypers, S., Marchal, S., Romaguera-de-la-Cruz, M., Tasseva, I.V., & Verbist, G. (2022). Welfare resilience at the onset of the COVID-19 pandemic in a selection of European countries: Impact on public finance and household incomes. Review of Income and Wealth, 68(2), 293-322. DOI: https://doi.org/10.1111/roiw.12530
Center
Facultades y escuelas::Facultad de Derecho
Department
Economía Aplicada y Gestión Pública