Pandemic or Generational War?

Authors

DOI:

https://doi.org/10.18778/2391-6478.S.2021.07

Keywords:

COVID-19 pandemic, personal finances, crisis management, nanofinance

Abstract

The article deals with the COVID-19 coronavirus pandemic and its potential impact on the economy, public finance system and personal finances. The shock of the virus outbreak and expansion on a global scale poses enormous challenges to economies, public finances and health systems related to the threat of recession, drastic reduction in personal income in households, the need to develop government programs mitigating the effects of a pandemic, and the central bank joining in the form of rate cuts interest and reserve requirements, as well as the launch of non-standard monetary policy instruments quantitative easing (QE). The aim of the study is to propose a language of nanofinance to describe a pandemic as a destruction of the mechanism of intergenerational and intra-generational solidarity. The main hypothesis of the study is that the quality of financial risk management of everyday life will determine the scale of financial losses and the time necessary to overcome the socio-economic collapse caused by a pandemic.

Downloads

Download data is not yet available.

References

Anderson R.M., Heersterbeek H., Klinkenber D., Hollingsworth D.T., 2020, How will country based mitigation measures influence the course of the covid-19 epidemic? „The Lancet”, March.
Google Scholar DOI: https://doi.org/10.1016/S0140-6736(20)30567-5

Atkeson A., 2020, What will be ten economic impact of COVID-19 in the US? Rough estimates of disease scenarios, „NBER Working Paper”, no. 26867.
Google Scholar DOI: https://doi.org/10.3386/w26867

Auer R., Cornelli G., Frost J., 2020, Covid-19, cash, and the future of payments, „BIS Bulletin”, no. 3.
Google Scholar

Banham G., 2020, In this coronavirus crisis, do families have enough savings to make ends meets?, Resolution Foundation.
Google Scholar

BIK, 2020a, BIK Indeks – Popyt na Kredyty Mieszkaniowe wyniósł w marcu 2020 r. (–3,1%), 6.04.2020.
Google Scholar

BIK, 2020b, Koronawirus a popyt na kredyty ratalne, 8.04.2020.
Google Scholar

Blim M., 2018, Pracownik i jego kompetencje cyfrowe, 1.03.2018, https://aspolska.pl/pracownik-i-jego-kompetencje-cyfrowe/ [dostęp 4.04.2020].
Google Scholar

Dolot A., 2020, Wpływ pandemii COVID-19 na pracę zdalną – perspektywa pracownika, „E-mentor”, nr 1.
Google Scholar DOI: https://doi.org/10.15219/em83.1456

Fan V.Y., Jamison D.T., Summers L.H., 2016, The inclusive cost of pandemic influenza risk, „NBER Working Paper”, no. 22137.
Google Scholar DOI: https://doi.org/10.3386/w22137

G-20, 2020, Statement on COVID-19, BIS.
Google Scholar

How to pay for the pandemic, 2020, „The Economist”, 25.03.2020.
Google Scholar

Huynh K.P., Molnar J., Shcherbakov O., Yu Q., 2020, Demand for Payment Services and Consumer Welfare: The Introduction of a Central Bank Digital Currency, „Bank of Canada Staff Working Paper”, no. 7.
Google Scholar

Koronawirus odbiera pracę i pustoszy portfele Polaków, 2020, https://media.bik.pl/informacje-prasowe/498172/koronawirus-odbiera-prace-i-pustoszy-portfele-polakow [dostęp 14.04.2020].
Google Scholar

Majos A., 2017, Kompetencje cyfrowe pracowników MŚP. Polska na tle UE, „Biuletyn Euro-Info”, nr 1.
Google Scholar

Myck M., Oczkowska M., Trzciński K., 2020a, Skala ryzyka finansowego dla gospodarstw domowych: pierwsza fala konsekwencji gospodarczych pandemii COVID-19, Centrum Analiz Ekonomicznych, Komentarze CenEA, 22.03.2020.
Google Scholar

Myck M., Oczkowska M., Trzciński K., 2020b, Zamknięte szkoły: warunki uczniów do nauki zdalnej w okresie pandemii COVID-19, Centrum Analiz Ekonomicznych, Komentarze CenEA, 28.03.2020.
Google Scholar

Waliszewski K., 2020, Determinanty recesji na rynku pożyczek pozabankowych w Polsce, „Finanse i Prawo Finansowe”, nr 1(25).
Google Scholar DOI: https://doi.org/10.18778/2391-6478.1.25.07

Published

2021-09-03

How to Cite

Solarz, J. K., & Waliszewski, K. (2021). Pandemic or Generational War?. Journal of Finance and Financial Law, 119–134. https://doi.org/10.18778/2391-6478.S.2021.07

Issue

Section

Article

Most read articles by the same author(s)