From Inemployment to Unemployment Worldwide: Post-COVID-19

Abstract

The impact of Post-COVID-19 on economic growth is obviously substantial, but measuring such impact to get a sense of the intensity of its effects on inflation and unemployment is subject to a great deal of uncertainty. As such, this paper primarily attempts to close this gap by introducing the COVIDECONOMICS-19-Simulator (COVIDECONOMICS-19-Simulator), a new economic instrument that could be used to evaluate the impact of Post-COVID-19 on inflation and unemployment. Based on five key indicators, the COVIDECONOMICS-19-Simulator considers and draws its assessment from different focuses of analysis to evaluate the Post-COVID-19 economic damage anywhere and anytime. Hence, in this article, the world economy was used to illuminate and illustrate the applicability of the COVIDECONOMICS-19-Simulator from where analyses provide a coherent evaluation of the degree to which Post-COVID-19 negative economic effects on the world inflation and unemployment. Finally, this paper also proposes a new concept entitled “Inemployment”. The inemployment define as the full or partial labor immobility or lockout from any contagious diseases (epidemics or pandemic) or natural disasters or social conflict (war). The inemployment can be considered as a pre-stage to unemployment in the short or medium run.

Keywords: COVID-19, COVIDECONOMICS-19-SIMULATOR, inflation and unemployment, world economy, inemployment

JEL Classification: Y20