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Öğe The global economy during covid-19 pandemic: realizations and predictions(Peter Lang AG, 2021) Sever, Erşan; Ay, MerveThe COVID-19 crisis, which has been severely hitting the world economy for more than a year, has left the whole world to deal with first health, then economic, and lastly social problems. In that regard, the COVID-19 crisis has outpaced the 1929 Depression, which was the biggest contraction in the world economic history. This study discusses the macroeconomic effects of the COVID-19 outbreak on the global economy. In this context, we discuss the mechanisms by which a pandemic in the health field slows down the functioning of the economy. Then, we analyze the effects of the crisis on households. The effects of the pandemic are discussed in a group of countries that differ according to their level of development. Struggling with the COVID-19 crisis, all countries have intervened in the market through monetary and financial instruments. Countries’ monetary policy decisions affect other countries’ macroeconomic outlook. Therefore, in this study, the monetary and fiscal policy decisions taken by country groups during the pandemic are discussed according to their development levels. With the increasing spread of the pandemic, supply and demand shocks are seen within countries and thus economic contractions occur. Since this contraction influences all large and narrow scale businesses within a short period, the companies dismissed workers which resulted in an alarming increase in unemployment rates all over the world. With the weakening of international trade in this process, the world economy has experienced a recession that cannot be recovered for many years.Öğe Investigating the stationarity properties of the average propensity to consume in the Turkish economy(Peter Lang AG, 2025) Koç, Süleyman...
