1. COVID-19: the need for an Australian Economic Pandemic Response Plan
- Author
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Laura Wall, Shannen Higginson, Francesco Paolucci, James Gillespie, Adrian Melia, Naomi Moy, Andrew Matthews, Christopher M. Williams, Katarina Milovanovic, Madeline Hinwood, Higginson, Shannen, Milovanovic, Katarina, Gillespie, Jame, Matthews, Andrew, Williams, Christopher, Wall, Laura, Moy, Naomi, Hinwood, Madeline, Melia, Adrian, and Paolucci, Francesco
- Subjects
economic impact ,Economic growth ,Biomedical Engineering ,Public policy ,Population health ,Article ,03 medical and health sciences ,0302 clinical medicine ,Pandemic ,030212 general & internal medicine ,Economic impact analysis ,Health policy ,Government ,030503 health policy & services ,Health Policy ,Australia ,COVID-19 ,healthcare outcomes ,Coronavirus ,Economic data ,Preparedness ,pandemic planning ,Business ,COVID-19, Australia, healthcare outcomes, policy interventions, economic impact, pandemic planning, health policy ,0305 other medical science ,policy interventions - Abstract
Highlights 16• Australian government COVID-19 pandemic policy response impacts GDP, unemployment 16• Government policymaker guide for holistic, robust solutions to health emergencies 16• Australian Economic Pandemic Response Plan: effective fiscal and monetary policy 16• Healthcare system demand and supply shocks PPE, ICU bed capacity, surgery, PHI 16• Epidemiological and econometric modelling disease transmission and risky behaviour, Objectives: Pandemics pressure national governments to respond swiftly. Mitigation efforts created an imbalance between population health, capacity of the healthcare system and economic prosperity. Each pandemic arising from a new virus is unknown territory for policy makers, and there is considerable uncertainty of the appropriateness of responses and outcomes. Methods: A qualitative approach was used to review mixed sources of data including Australian reports, official government publications, and COVID-19 data to discern robust future responses. Publicly available epidemiological and economic data were utilised to provide insight into the impact of the pandemic on Australia's healthcare system and economy. Results: Policies implemented by Australian government to mitigate the spread of COVID-19 impacted the healthcare sector and the economy. This paper incorporates lessons learned to inform optimal economic preparedness. The rationale for an economic response plan concomitant with the health pandemic plan is explored to guide Australian government policy makers in ensuring holistic and robust solutions for future pandemics. Conclusions: In future, an Australian Economic Pandemic Response Plan will aid in health and economic system preparedness, whilst a strong Australian economy and strategic planning will ensure resilience to future pandemics.
- Published
- 2020