Yale School of Management

Posts by Individual support

Cross-country Comparison of Economic Outcomes and Policy Responses to Support Individuals in June

July 22, 2020
Since March, countries around the globe have implemented policies to support individuals and households through the downturn that has resulted from the global COVID-19 pandemic. Over the last five months countries have implemented different economic policies in response to various stages of the pandemic. Based on the YPFS four-phase model of the economic consequences of the pandemic, Run-Rescue-Recession-Recovery, this blogpost discusses different policy trajectories and economic outcomes for countries at different stages of the pandemic, with a focus on support to individuals.  Continue reading “Cross-country Comparison of Economic Outcomes and Policy Responses to Support Individuals in June”

COVID-19 and Insurance (3 of 3): Capital Conservation and Countercyclical Regulation

June 17, 2020
Insurance supervisors around the world outside the U.S. have urged companies they supervise to conserve capital during the COVID-19 crisis by limiting payouts to shareholders and bonuses to executives.  At the same time, many supervisors have sought to help insurers avoid procyclical behavior by mitigating the impact of volatile market swings on the value of insurance company assets and, in turn, on measures of their capital adequacy.  Continue reading “COVID-19 and Insurance (3 of 3): Capital Conservation and Countercyclical Regulation”

COVID-19 and Insurance (2 of 3): Operational Regulatory Relief

June 16, 2020
Many insurance supervisors have provided temporary relief to help companies manage during the COVID-19 crisis. Most of this relief comes in the form of extended deadlines for submitting various reports or provisions that make remote compliance easier. Regulators have also suspended supervisory activities and loosened accounting rules. Continue reading “COVID-19 and Insurance (2 of 3): Operational Regulatory Relief”

COVID-19 and Insurance (1 of 3): Helping Individuals and Businesses

June 15, 2020
Insurance companies face unusual challenges during the COVID-19 crisis. This blog describes efforts by companies and their supervisors to: Reduce financial burdens on insurance customers, for example, by allowing them to defer premium payments.  Resolve the controversy over whether existing insurance coverage extends to businesses that have lost revenue during the crisis. Continue reading “COVID-19 and Insurance (1 of 3): Helping Individuals and Businesses”

HEROES Act would provide $3 trillion in additional benefits but unlikely to progress

June 2, 2020
The $3 trillion Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act , which the House of Representatives passed on May 15, is the fourth and largest legislative rescue package proposed by the US Congress in response to the COVID-19 pandemic. It would help to mitigate the economic impact of continued shelter-in-place orders and soaring unemployment rates. Continue reading “HEROES Act would provide $3 trillion in additional benefits but unlikely to progress”