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Assessing the Effectiveness of Social Protection Measures in Mitigating COVID-19-Related Income Shocks in the European Union

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dc.contributor.authorGasior, Katrin
dc.contributor.authorJara, H. Xavier
dc.contributor.authorMakovec, Mattia
dc.date.accessioned2023-08-16T19:44:39Z
dc.date.available2023-08-16T19:44:39Z
dc.date.issued2023-08-16
dc.description.abstractBy means of counterfactual simulation methods, this paper quantifies the role of tax–benefit policies in mitigating the shock of the COVID-19 pandemic to household income in the European Union. The tax-benefit microsimulation model for the European Union EUROMOD is used to decompose changes in the income distribution into the effects of: (i) earnings losses due to COVID-19, (ii) automatic stabilizers, (iii) monetary compensation schemes introduced during the pandemic; and (iv) COVID-19-specific reforms to taxes and benefits implemented by European Union governments. The results show a great deal of heterogeneity between countries in terms of earnings losses and the effect of tax-benefit policies during the COVID-19 pandemic. In most countries, the largest contribution to cushioning the economic shock of the pandemic comes from monetary compensation schemes. Automatic stabilizers also play a role, mainly through the effects of social insurance contributions, taxes, and unemployment insurance benefits. Tax-benefit systems cushioned incomes to a large extent even among those most severely affected by the shock to earnings, with an important role for monetary compensation schemes, but also a larger stabilizing effect of unemployment insurance. Among automatic stabilizers, social assistance benefits played an important role in cushioning the income shock for the poorest quintiles among the most severely affected, but only in selected countries.en
dc.identifierhttp://documents.worldbank.org/curated/en/099340208142315131/IDU06c97ec3f0fa3a04d2909373090283334d0e4
dc.identifier.doi10.1596/1813-9450-10546
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/40220
dc.languageEnglish
dc.language.isoen
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Papers; 10546
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by/3.0/igo/
dc.subjectSOCIAL PROTECTION
dc.subjectSOCIAL SAFETY NET
dc.subjectTRANSFERS
dc.subjectSOCIAL WELFARE
dc.subjectCOVID-19 IMPACT ON INCOME
dc.subjectECONOMIC CRISIS INTERVENTION EFFECTIVENESS
dc.titleAssessing the Effectiveness of Social Protection Measures in Mitigating COVID-19-Related Income Shocks in the European Unionen
dc.typeWorking Paper
dspace.entity.typePublication
okr.crossref.titleAssessing the Effectiveness of Social Protection Measures in Mitigating COVID-19-Related Income Shocks in the European Union
okr.date.disclosure2023-08-14
okr.date.lastmodified2023-08-14T00:00:00Zen
okr.doctypePolicy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/099340208142315131/IDU06c97ec3f0fa3a04d2909373090283334d0e4
okr.guid099340208142315131
okr.identifier.docmidIDU-6c97ec3f-fa3a-4d29-9373-90283334d0e4
okr.identifier.doi10.1596/1813-9450-10546
okr.identifier.doihttp://dx.doi.org/10.1596/1813-9450-10546
okr.identifier.externaldocumentum34143178
okr.identifier.internaldocumentum34143178
okr.identifier.reportWPS10546
okr.import.id1514
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099340208142315131/pdf/IDU06c97ec3f0fa3a04d2909373090283334d0e4.pdfen
okr.region.administrativeEurope and Central Asia
okr.sectorSocial Protection
okr.themeLabor Market Institutions,Gender,Human Development and Gender,Data Development and Capacity Building,Social Protection,Social Development and Protection,Disease Control,Pandemic Response,Labor Market Policy and Programs,Public Sector Management,Social Insurance and Pensions,Data production, accessibility and use,Social protection delivery systems,Social Safety Nets
okr.topicSocial Protections and Labor::Safety Nets and Transfers
okr.topicSocial Protections and Labor::Social Protections & Assistance
okr.topicSocial Protections and Labor::Wages, Compensation & Benefits
okr.unitSocial Protection & Labor ECA (HECSP)
relation.isAuthorOfPublicationdc6afdee-3f18-4542-8799-f3bbec927114
relation.isAuthorOfPublication.latestForDiscoverydc6afdee-3f18-4542-8799-f3bbec927114
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