Mini Track on Economic Policies for Non-Cyclical Crises


Resilience and economic intelligence through digitalization and big data analytics

10-11 June 2021, Bucharest, Romania

Mini Track Chairs

  • Mihaela Roberta Stanef-Puică, Bucharest University of Economic Studies, Bucharest

  • Carlos Ramírez Valdebenito, Usach – Universidad de Santiago de Chile

We are living the Recovery of our former life, due to Covid-19 Lockdown, and Economics is of paramount importance to put the wheels back on track. Economies all over the world need some steam to overcome the contraction of this non-cyclical crisis, which everyone failed to foreseen, a pandemic crisis. It was an unknown unknown, meaning something we did not know that we did not know. There was no precedent; there was no drill to counterstrike, no economic leverage and no economic policies. Yet, it is our duty to reinvent our economic knowledge, and, just as George Akerlof did with the asymmetric information theory in the 1970s, to reshape everything we thought to know about our economic future as consumers and economic agents.

In the last century, we have developed emergency plans to manage the menaces of economic crisis, at least the cyclical crisis. In 2007-2009 collateral debt obligations and other financial innovation brought the world on the brink of collapse, near the 1929 Great Depression scenario. Even collateral debt obligation and leverage investment with money which did not exist seemed to be an unknown unknown for the investors at that time, financial institutions and the governments managed to use the experience of previous crises and the economic policies to save the world as they have before. Greed of financial world was the stigmata of our last major economic crisis, known as The Great Recession. After all, Economics had the answers and the wealth kept growing with reinforced economic regulations to avoid a future Credit Crunch. Generally speaking, we did know where greed debt and overspending could have lead; we just hoped we will never see the black swan. But in case of Covid-19 Lockdown, we did not even know that there is a creature of this kind. Economics was simply overwhelmed by an enemy impossible to imagine.

The goal of our section is to extend the economic knowledge through debate and change of ideas, in helping economic policies to adapt themselves to the challenge of a pandemic blocking the world economy. Should we aim for a V-shaped recovery or a U-shape one? Which type will save more from our previous wealth? What should we do to achieve sustainable outcomes on long run? New fields of industry or services, quest for new resources and different supply chain management, should be our focus for the future economic decision in order to keep the wealth and the quality of life we enjoyed a long time before this non-cyclical crisis.  The section maintains an open methodological frame to future research.

The main topics covered by the hereby call for papers are related to:

  • Economic policies proposed for restart the economies

  • Global economic contagion effect and the output swap of producers due to reducing demand all over the world

  • Energy and supply chain security  aspects

  • Corona virus lockdown and the drop of consumer prices – perspectives on most affected economic fields

  • Budget deficit aspects for economic recovery: V-shape recovery versus U-shape recovery

  • The Swoosh-shape recovery and the preserving wealth and sustainable growth

  • 2021 ahead: inflation, GDP, retail sales

  • Governments economic stimulus on deteriorating economic agents perspectives

  • Sustainable consumption and production

  • The Swoosh-shape recovery and the preserving wealth and sustainable growth

  • Rebounding the world economy on the second half of 2020

  • Corona virus downturn versus the Great Depression and the Great Recession

  • Government spending and jobless aid

Mihaela Roberta Stanef-Puică

Studied Economics at Faculty of Theoretical and Applied Economic, Bucharest University of Economic Studies. Vice-dean of the Faculty Theoretical and Applied Economic Studies, since 2015, now she is in charge with the research component of the Faculty.
Her research interests cover regional development and labour market problems. With an experience in academia but also in research for about 15 years, Roberta Stanef-Puică carries out both teaching and research activities in areas of expertise such as: sustainable development, urban and rural development gaps, human resources, labour market, demography, education and public policies.
Roberta Stanef-Puică is also a consultant for the National Commission for Strategy and Prognosis and had a big contribution in more than a few of their projects regarding private-public partnerships in several different domains, such as labour market and green energy.

Carlos Ramírez Valdebenito

He is an Academic Investigator at Usach – Universidad de Santiago de Chile, an External Consultant Economist at Organización Internacional Del Trabajo and also a Professor at the Academia Politecnica Militar. Ejército de Chile. For the Organización Internacional Del Trabajo he plays the role of Investigator, studying the labour market, labour gaining’s and productivity, but he is also an author. He wrote Observatorio Laboral del Maule – VII Región.
At the Academia Politecnica Militar in Chile he is a professor that it is specialized in Micro and Macroeconomics.
He is also a professor at the Universidad de Talca and there he is responsible for the Programa de Formación Fundamental y Dirección de Responsabilidad Social Universitaria.(RSU). In his over 30 years as a professor he also played an important role at the Universidad de Santiago de Chile, being an Investigator, but also a Formación de Ejecutivos for small companies at the National Bank of Santiago de Chile (2000-2004).