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Andrew Sheng: New Data, New Systemic Analyses for Novel Pandemic Crises

YSI COVID-19 Webinar Series

Start time:

April 17, 2020 @ 2:00 pm - 3:30 pm

Virtual Project Virtual Project
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EDT

Location:

Online

Type:

Other

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Virtual Project Virtual Project

Speakers

Speaker Image
Andrew Sheng

Distinguished Fello

Description

The COVID-19 crisis is stress-testing not just economies, but our economic paradigms and analytical tools. The 2008 crisis revealed that financial systems are networks, and COVID-19 showed how viral contagion and conventional tools (monetary creation) plus lockdowns can bring on recession, depression or conflict. Current single-minded focus on flows and monetary creation to deal with financial crises have ignored second-order effects of social inequality, balance sheet fragility, the rise of Precariat, gig economy and job/income vulnerabilities and social/political polarization exposed by the lockdown. Our current statistical system has good data on financial institutions and large corporations, but little data on small businesses and Precariat and how they are linked and interact. So central bank “whatever it takes” helicopter money will save the Big Boys, but ignores the effective transmission channel to the masses. We may end up exactly like post-2008: concentration is worsened as the 1% knows how to capture QE. We have to do this differently.
This is a whole-of-society effort where we need the young to re-image the future, understand the data of the vulnerable, offer novel solutions and re-connect the whole. Andrew Sheng invites YSI scholars to crowd-study the financial condition of those most vulnerable to lockdown, drawing upon diverse data sources to build a more composite picture of how different systems are inter-connected, interdependent with contingent reflexivities. Post-COVID economy and society is bound to be different, while reconstruction of post-COVID economics will require conscience, imagination, and input from the young.

Hosted by Working Group(s):

Attendees

Balázs Scher

Charles Bartlett

Thijs Kieboom

Saleem Khan

farhad gohardani

Michel Amenah

Desa Berisha

Lilian Nogueira Rolim

Fernando Hernández

Charlie Cheesman

Charles Wan

Mohamed Megahed

Nguyen Thi Thu Ha

Vienne Chan

giuseppe simone

Kefei Wu

Amal Nasser

Md Jahurul Islam

Jules Linden

Christina Mosalagae

yaseen hameed

Nuoya Chen

Mohamed Bakoush

Vibhu Gangal

Holf Yuen

Aneesha Chitgupi

Latifahaida Abdul Latif

Germán Vargas

Joe Hagerty

Trần Phương

Peter Holtzer

Luisa Scarcella

Ajibola Akanji

Maria Antonette Pasquin

Farah Khan

Alwin Adityo

June Park

Phuoc Pham

Natasha Kunesch

Jay Pocklington

Thomas Vass

Milica Vuleta

Christopher Pomwene Shafuda

Eric Decker

Ádám Kerényi

Aleksandar Stojanović

Gaurav Varma

Gerhardt "Kiko" Kalterherberg

Yeasin Mohammad Amin

Karin Hobelsberger

Firdous Ahmad Malik

Gabriel Nicholson

Fernanda Feil

Rasheed Saleuddin

Matthew Bone

Audra Aucoin

Pavel Porozov

Alejandra Salazar

Remedios Lomax