COVIDECONOMICS: The Evaluation of COVID-19 Economic Effects

This book is divided into nine chapters. The main objective of this book is to evaluate different challenges and lessons from COVID-19 from an economic point of view. The main aim is to propose “COVIDECONOMICS” is to assess the impact of COVID-19 economically under the use of new analytical tools to evaluate the damage and its final effect on different social groups. We define COVIDECONOMICS as a new research field in Economics to assess the COVID-19 from different holistic approaches. The first chapter is the introductory part to explain each chapter of this book. The second chapter graphically demonstrates the patterns of economic recession from any epidemic in the world, i.e. the COVID-19 contagious infectious disease. This can generate economic waves on different markets (countries or regions). This chapter evaluates the way in which an economic recession from the COVID-19 contagious infectious disease damage can simultaneously affect five different markets economic hotspots viz. East Asia (Japan, South Korea, Taiwan, and Hong Kong), China, ASEAN, United States and the European Union (EU). To visualize how a worldwide epidemic can generate economic waves on world economy, it is necessary to apply the inter-linkage coordinate space. Finally, this chapter proposes the use of computer graphical animation, which is based on the construction of a large number of slides joined together through the production of a video. In our case, we will use Windows Microsoft movie maker software to generate the real time effect of these economic waves in the same graphical space.The third chapter evaluates how much COVID-19 affects consumer behavior in the U.S. and Japan. Hence, this study wants to present two new concepts, followed by the massive unnecessary overconsumption levels and massive irreversible under consumption levels. The main objective is to determine how COVID-19 generates a profound transformation in American and Japanese consumer behavior in the short run. We propose a new dynamic indicator entitled "The Consumption Unstable Behavior in COVID-19 Index (CUBE-COVID-19-Index)." The CUBE-COVID-19-Index offers policy-makers and researchers a new analytical tool to evaluate how much distortion COVID-19 can generate in any country's consumption of essential goods and services (food and basic services). The CUBE-COVID-19-Index is not intended to be a predicting indicator in any case. It shows the rapid consumer preferences changes originated by COVID-19 in the U.S. and Japan recently.In the fourth chapter is willing to evaluate how long the world economy can resist COVID-19 crisis pressure. In the present COVID-19 crisis looks unstoppable and uncertain its end. We try to make a serial of simulations using possible slight or extreme scenarios with different environments in the short and long run. The main objective is to offer a specific date until the world economy can likely resist COVID-19 crisis pressure. Finally, we try to evaluate how much developed and developing countries can resist the COVID-19 crisis pressure and find its critical point for recovery or full collapse, respectively. The fifth chapter applies the special theory of relativity to evaluate the impact of COVID-19 on the U.S. economy. Therefore, we propose a new indicator is called “the Conservation of Economic Energy (EE).” The construction of the conservation of economic energy (EE) requests the use of two economic variables into the special theory of relativity, followed by the unemployment growth rate (U) and the COVID-19 human damage speed (ΔC2). Finally, the conservation of economic energy (EE) was applied for the case of the U.S.The sixth chapter proposes a new national account system to calculate the GDP in the COVID-19 crisis. The new national account approach is entitled "The Input-Output Electronic Online Transactions Monitoring System (IOEOTM-System)." The IOEOTM-System is based on the interaction among four main strategic sectors (producers, sellers, logistic, and final consumers) by "i" number of strategic sub-sectors under the uses of "j" number of goods and services. The main idea is to generate an alternative national account system for the COVID-19 crisis under the total electronic transactions online accounting daily, monthly, and yearly to elaborate the economy's final output under the GDP-Surfaces construction.The seventh chapter tries to evaluate the impact of COVID-19 on the world oil prices from a multidimensional graphical perspective. The alternative multidimensional graphical is based on a new graphical method, the “Infinity Physical Space (I-Physical Space).” The I-Physical Space can systematically show the world oil prices from a multidimensional point of view in shorter or longer periods. To analyze the behavior of world oil prices, we divided historical data from April 2019 to April 2020. In this study, the behavior of world oil prices has two categories: stable oil price range and unstable oil price range. The application of the I-Physical Space framework allows us to identify periods of world oil price volatility quickly. Our findings indicate that any pandemic can generate high volatility of oil prices, such as the case of COVID-19 anytime and anywhere. According to chapter eighth discuses about the impact of COVID-19 on economic performance is crucial, but measuring such implications to get a sense of the intensity of its effects on macro-variables such as consumption, investment, government spending, and net trade is subject to a great deal of uncertainty. As such, this chapter primarily attempts to close this gap by using the Global Economic Smash Crisis Effect Simulator (GESCE-Simulator), a new economic simulator that could be used to evaluate the impact of COVID-19 on different macroeconomic scenarios simultaneously. Hence, this article, the world economy, was used to illuminate and illustrate the applicability of the GESCE-Simulator from where analyses provide a coherent evaluation of the degree to which Post-COVID-19 adverse economic effects from a multidimensional perspective.Finally, this chapter proposes an alternative production, distribution, and consumption platform for the case of COVID-19 crisis, this new platform is entitled "The Economic Sustainable Accelerators (TESA)." The TESA is based on a strategical plan to reactivate the production, distribution, and consumption of any country in the present COVID-19 crisis. Before we proceed to implement TESA in any country, it is necessary to use twelve different modules of evaluation follow by (i) Module-1: COVID-19 infection cases geographical location; (ii) Module-2: Movement Control Order perimeters size; (iii) Module-3: Labour concentration and mobility systems, (iv) Module-4: Production priority plan; (v) Module-5: Transportation systems integral mobility; (vi) Module-6: Suppliers distribution; (vii) Module-7: Sanitation and Prevention strategic points; (viii) Module-8: Agriculture and Food Security; (ix) Module-9: COVID-19 Private and Public Partnership (public transportation controls, free health support, welfare programs, taxation exoneration), government spending controls; (x) Module-10: Industrial restructuration; (xi) Module-11: Services dynamicity; (xii) Module-12: COVID-19 Consumers opening levels mobility. The main objective of TESA is to offer policy-makers a new proposal to help countries to recovery faster from the COVID-19 crisis. The application of TESA is not limited to the study of a select group of cities. TESA, in effect, is a flexible and straightforward production, distribution, and consumption alternative platform. The third part of this chapter shows a multidimensional diagram to explain how TESA can work in any country.