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Goldfajn, Levy Yeyati



Articles by Goldfajn, Levy Yeyati

Latin America: The Post-Pandemic Decade. Conversations with 14 Latin American Economists

December 20, 2021

For governments in the Latin America region, the Covid-19 crisis has compounded a series of pre-existing social, economic and health issues which has heaped further pressure on already strained governmental systems. This eBook brings together leading Latin American researchers and policymakers to discuss the sizeable challenges ahead and map out policy options for a sustainable, equitable and stable future for the region.

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Contents
Foreword
IntroductionIlan Goldfajn and Eduardo Levy Yeyati
The Latin American pandemicIlan Goldfajn and Eduardo Levy Yeyati
Section I: Avoiding the next crisis
“The pandemic can be used as a cover for wasteful spending”Laura Alfaro
“QE in advanced economies

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The Latin American pandemic

December 20, 2021

In April 2019, the IMF revised global growth down by 6.3% relative to its March (pre-Covid) forecasts. While uncertain and dependent on the policy response, experts have pointed to the possibility of permanent output losses since the beginning (Baldwin and Weder di Mauro 2020), with a more deleterious impact on developing economies (Djankov and Panizza 2020, Levy Yeyati and Filippini 2021). The Covid-19 shock could be interpreted as a combination of supply and demand shocks, with the supply shock driven by the restriction of activities due to lockdowns and distancing measures to contain the spread of the virus, and the demand shock reflecting both the income effect suffered by workers in restricted activities, as well as the diminished mobility and changes in consumption

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